According to a market report by Lucintel, the future of the microgrid market looks promising with opportunities in the healthcare, educational institutions, industrial, military, and electric utility industries. The microgrid market is expected to grow with a CAGR of 12% from 2019 to 2024. The major drivers for this market are growing demand for automated grid system, increasing awareness to reduced carbon footprint, enhancement in microgrid connectivity through integration of IoT, and advantages of low-cost and clean energy storage.
In this market, AC microgrid, DC microgrid, and hybrid are the major grid types. Within the microgrid market, healthcare, educational institutions, industrial, military, and electric utility are the major end use industries. Grid connected and remote/island are the microgrid types. APAC will remain the largest market over the forecast period.
ABB, General Electric, Eaton, Siemens, Schneider Electric, Honeywell, Homer Energy, S&C Electric, Power Analytics, and Exelon Corporation are among the major manufacturers of microgrid.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the microgrid market by connectivity, grid type, end use industry, and region. Lucintel has prepared a comprehensive research report entitled “Microgrid Market 2019-2024: Trends, Forecast, and Opportunity Analysis.” This Lucintel report serves as a catalyst for growth strategy as it provides comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for the microgrid market by connectivity, grid type, end use industry, and region as follows:
By Connectivity [$M shipment analysis for 2013 – 2024]:
• Grid Connected
By Grid Type [$M shipment analysis for 2013 – 2024]:
• AC Microgrid
• DC Microgrid
By End Use Industry [$M shipment analysis for 2013 – 2024]:
• Educational Institutions
• Electric Utility
By Region [$M shipment analysis for 2013 – 2024]:
• North America
– United States
• Asia Pacific
• Rest of the World
A more than 150 page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or visit us at [email protected]
Lucintel, the premier global management consulting and market research firm, creates winning strategies for growth. It offers market assessments, competitive analysis, opportunity analysis, growth consulting, M&A, and due diligence services to executives and key decision makers in a variety of industries. For further information, visit www.lucintel.com.
This report answers following 11 key questions:
Q.1 What are some of the most promising potential, high-growth opportunities for the microgrid market by connectivity (grid connected, remote/island), grid type (AC microgrid, DC microgrid, and hybrid), end use industry (healthcare, educational institutions, industrial, military, and electric utility), and region ( North America, Europe, APAC, and ROW) ?
Q.2 which segments will grow at a faster pace and why?
Q.3 which regions will grow at a faster pace and why?
Q.4 what are the key factors affecting market dynamics? What are the drivers and challenges of the microgrid market?
Q.5 what are the business risks and threats to the microgrid market?
Q.6 what are emerging trends in this microgrid market and the reasons behind them?
Q.7 what are some changing demands of customers in the microgrid market?
Q.8 what are the new developments in the microgrid market? Which companies are leading these developments?
Q.9 who are the major players in this microgrid market? What strategic initiatives are being implemented by key players for business growth?
Q.10 what are some of the competitive products and processes in this microgrid area and how big of a threat do they pose for loss of market share via material or product substitution?
Q.11 What M & A activities have taken place in the last 5 years in this , microgrid market?