Microgrids Global Market Report 2023: Rise in Power Outages & Undesirable Impact of Power Outages on Modern Digitalized Enterprises Pin Hopes on Microgrids to End Black Outs

Dublin, June 09, 2023 (GLOBE NEWSWIRE) -- The "Microgrids - Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.

Global Microgrids Market to Reach $82.3 Billion by 2030

In the changed post COVID-19 business landscape, the global market for Microgrids estimated at US$23.2 Billion in the year 2022, is projected to reach a revised size of US$82.3 Billion by 2030, growing at a CAGR of 17.1% over the analysis period 2022-2030. Grid Connected, one of the segments analyzed in the report, is projected to record 18.6% CAGR and reach US$61.4 Billion by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the Off-Grid Connected segment is readjusted to a revised 13.7% CAGR for the next 8-year period.

The U.S. Market is Estimated at $3.5 Billion, While China is Forecast to Grow at 19.6% CAGR

The Microgrids market in the U.S. is estimated at US$3.5 Billion in the year 2022. China, the world`s second largest economy, is forecast to reach a projected market size of US$22.2 Billion by the year 2030 trailing a CAGR of 19.6% over the analysis period 2022 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 13.5% and 15.1% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 14.9% CAGR.

What`s New for 2023?

• Special coverage on Russia-Ukraine war; global inflation; easing of 'zero-Covid' policy in China and its `bumpy` reopening; supply chain disruptions, global trade tensions; and risk of recession.
• Global competitiveness and key competitor percentage market shares
• Market presence across multiple geographies - Strong/Active/Niche/Trivial
• Online interactive peer-to-peer collaborative bespoke updates
• Access to our digital archives and MarketGlass Research Platform
• Complimentary updates for one year

Select Competitors (Total 127 Featured)-

• ABB Ltd
• Caterpillar
• Eaton Corporation Inc.
• GE's Grid Solutions
• General Microgrids
• Heila Technologies
• Hitachi Energy Ltd.
• HOMER Energy LLC
• Honeywell International Inc.
• KEPCO
• Lockheed Martin Corporation
• Power Analytics Corporation
• S&C Electric Company
• Schneider Electric SE
• Siemens AG
• Spirae, LLC
• Tesla, Inc.
• Toshiba Corporation

Key Attributes:

Key Topics Covered:

I. METHODOLOGY

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW

• Modernization of Aging Energy Infrastructure Skewed Towards a Low Carbon Future Provides the Cornerstone for Growth in the Market
• With Governments Forced to Address Power-Quality, Reliability & Sustainability Issues, Rising Investments in Energy Infrastructure to Benefit Demand for Microgrids: Global Energy Investments (In US$ Billion) for the Years 2022, 2025, 2027 and 2029
• Global Economic Update
• Shaken by the War, Global Oil Prices Spiral and Feed Inflationary Pressures, Guiding the World Towards a Cost of Living Crisis: Global Average Annual Brent Crude Oil Price (In US$ Per Barrel) for Years 2017 through 2022
• War-Induced Commodity Price Increases & Broad Based Price Pressures Mark the Return of Global Inflation in 2022 to the Highest Level Seen Since 1996: Global Inflation Rates (In %) for the Years 2019 Through 2024
• War, Global Inflation, Cost of Living Crisis, Failed Fiscal Policy Attempts to Restore Price Stability & Contain Downside Risks to Result in Sharper-Than-Expected Slowdown in Global Economic Growth: World Economic Growth Projections (Real GDP, Annual % Change) for the Years 2020, 2021, 2022 and 2023
• Recession Triggered by Uncontrolled Inflation or Unemployment, Which is the Greater Evil? Inflation Battling Policy Measures to Slowdown Post Pandemic Recovery in Unemployment Rates: Global Number of Unemployed People (In Million) for Years 2019 Through 2023
• Competition
• Microgrids - Global Key Competitors Percentage Market Share in 2024 (E)
• Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2024 (E)
• Microgrid: Definition, Scope, Importance and Benefits
• World Brands
• Recent Market Activity
• Innovations

2. FOCUS ON SELECT PLAYERS

3. MARKET TRENDS & DRIVERS

• Rise in Power Outages & Undesirable Impact of Power Outages on Modern Digitalized Enterprises Pin Hopes on Microgrids to End Black Outs
• Cost of Load Failures Due to Power Disruptions/Outages in US$ Per Hour by Select Commercial Activity
• Focus on Decentralized Energy Generation Drives Deployment of Microgrids
• Growing Value of Distributed Energy Resources (DERs) in Dual Addressal of Environmental & Energy Sustainability Challenges Drives Demand for Microgrids: Global Distributed Generation (DG) Market (In US$ Billion) for Years 2021, 2023, 2025 and 2027
• Rise of Smart Cities Drives the Focus on Engineering Microgrids to Achieve Slated Energy Goals
• Focus on Reshaping City Resilience to Future Pandemics & Crisis Will Spur Rejuvenated Spending on Smart City Projects in the Post COVID-19 Period, Providing a Goldmine of Opportunities for Microgrids: Global Smart City Spending (In US$ Billion) for the Years 2021, 2024 & 2027
• Private Sector Microgrids, An Exciting Area of Growth
• Chronic Public Sector Underfunding for Infrastructure Development Drives Private Participation & Investments in Distributed Energy Via Private Microgrids: Cumulative Global Infrastructure Spending Gap 2018-2040 (In US$ Billion)
• Rising Investments in Renewable Energy Leads to Rapid Mushrooming of Renewable Microgrids Across the Global Energy Terrain
• Microgrids Are the Backbone Infrastructure that Makes Intermittent Renewable Energy More Resilient & Practically Deployable in the Real World Scenario: Global Projected Net Capacity Additions of Renewable Energy (In GW) for the Period 2019 to 2024
• Cloud Based Management of Microgrids Attract Interest in Community Microgrids
• Supported by Myriad Benefits Automated Microgrid Control Systems Grow in Popularity
• IoT Revolutionizes Microgrid Management
• IoT Disrupts the Distributed Energy Space by Turning Microgrids into Smart Systems Capable of Maximizing Energy Efficiency & Energy Sharing & Trading: Global Value of IoT Investments in the Energy Industry (In US$ Billion) for the Years 2022, 2024, 2026, and 2028
• Favorable Regulations in the U.S Boosts Microgrid Expansions
• Growing Pressure on the US Army to Fight Climate Change Leads to Increased Installation of Microgrids
• Robust Defense Spending Amid the Unfortunate State of Global Geo-Political Affairs Opens Opportunities for Increased Investments in Military Energy Independence & Microgrids: Military Spending by Top Countries in 2022 (In US$ Billion)
• Innovations in Microgrid Control Systems Spurs the Popularity & Operational Feasibility Microgrids
• As Microgrids Become Popular & More Widespread, R&D Spending Increases for Microgrid Controllers: Global Market for Microgrid Control Systems (In US$ Million) for Years 2021, 2023, 2025, and 2027
• The Rise of Blockchain Microgrids, a Major Trend of Note
• AI and Microgrids. Here's What's Happening
• Robust Outlook for EVs Creates a Parallel Rise in Microgrids for Fleet Electrification
• Growing Demand for EVs Brings Good News for Microgrids: Global EV Sales (In 000 Units) by Region for the Years 2021, 2023, 2025, & 2027
• Growing Focus on Disaster Preparedness Drives the Importance of Microgrids
• The Time is Ripe for Hybrid Microgrid. Here's Why
• Urgent Need to Address Climate Change Throws the Spotlight on Microgrids
• As Global Air Continues to Become Toxic Amid Half Hearted Sustainability Efforts, Migration to Microgrids Gains Urgency: Global CO2 Emissions (In Billion Metric Tons) for Years 1930, 1940, 1950, 1960, 1970, 1980, 1990, 2000, 2010, 2020, 2021 and 2022
• Sharp Increase in Cyberattacks Targeting Power Grids Worldwide Highlights the Importance of Microgrid Cybersecurity
• Mobile Microgrids Emerge Over the Horizon to Become a Major Trend in 2023

4. GLOBAL MARKET PERSPECTIVE

III. MARKET ANALYSIS

IV. COMPETITION

A selection of companies mentioned in this report includes

• ABB Ltd
• Caterpillar
• Eaton Corporation Inc.
• GE's Grid Solutions
• General Microgrids
• Heila Technologies
• Hitachi Energy Ltd.
• HOMER Energy LLC
• Honeywell International Inc.
• KEPCO
• Lockheed Martin Corporation
• Power Analytics Corporation
• S&C Electric Company
• Schneider Electric SE
• Siemens AG
• Spirae, LLC
• Tesla, Inc.
• Toshiba Corporation

For more information about this report visit https://www.researchandmarkets.com/r/rjihvj

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Attachment

• Global Market for Microgrids