The microgrid is a promising tool of modern distribution networks. Due to its versatility, it is an appropriate system for community use. It consists of a composition of technologies such as generation, load management, storage and advanced control that depends on energy efficiency and automation.Microgrids also offer enhanced reliability and cost efficiency along with environmental benefits.Microgrids generally operate when connected to the grid.However, in a crisis such as storm or power outages, it is capable of breaking off from the grid to operate on its own, utilizing local energy generation. This ability to deliver power continuously makes microgrids particularly attractive to customers from data centers. The growing focus on renewable energy and its integration is a factor that encourages the adoption of microgrids, thereby boosting market growth.However, the integration of microgrids into existing systems is a costly affair and therefore acts as an obstacle to market growth.Microgrids find application in various fields such as industrial, institutional, military and off-grid applications. The key players in the market are Chevron Energy, Siemens AG, MeraGao Power, ZBB Energy Corporation, ABB Limited, GE Energy and Power Analytics Corporation.
To enable an in-depth analysis, the global microgrid market is segmented based on technology, characteristics, applications and geography. The technology market is further segmented into components and technological trends. The componentssegment is sub-segmented into storage system and batteries, smart meter, power inverter and switch gear. Technologies analysed here are microturbine and reciprocating engine. The characteristicssegment is further classified into consumption pattern and types. Different consumption patterns are urban, semi-urban and rural/island. Various types of microgrid are off-grid, hybrid and grid connected.Microgrids are used in various fields such as industrial, institutional, military and off-grid applications.Analysis is carried out across different regions, namely North America, Europe, APAC and LAMEA.
KEY MARKET SEGMENTS
The global microgrid market is segmented based on technology, characteristics, applications and regions.
MARKET BY TECHNOLOGY
MARKET BY CHARACTERISTICS
MARKET BY APPLICATION
MARKET BY GEOGRAPHY