Microgrid Market Set to Hit New Highs: Expected to Reach USD 61.18 billion by 2027

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Microgrid Market Size – USD 28.80 billion in 2019, Market Growth – CAGR of 10.5%,

VANCOUVER, CANADA, BC, November 11, 2021 /EINPresswire.com/ — Increasing demand for uninterrupted and reliable power supply all across the world and the growing adoption of renewable sources of energy are driving the demand of the market.

The commercial and the industrial sector are increasingly adopting microgrid technology in order to reduce the emission levels and avail a reliable and uninterrupted supply of electricity in remote areas. The declining cost of renewable energy sources is also a contributing factor to the increasing demand of the microgrid facility. The microgrid is also used in the defense services and research labs to have a secure network from independent external power stations and reduce the risks of cyber-attacks.

The Microgrid report offers details about leading regions, applications, types, end users, market value and volume along with business verticals. The Microgrid report is generated through extensive research and is further evaluated by experts in the industry and offers a comprehensive understanding of the demand and supply dynamics, including production and consumption rates, and mapping of the overall market.

Increasing government policies and initiatives and a shift towards renewable distributed energy generation such as fuel cells, wind turbines, and Solar PV are also expected to drive the microgrid market's demand.

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The research Microgrid report also offers a detailed analysis of the market status, market definition and overview, market share, current and future trends, market drivers and constraints, opportunities and limitations, risks, sales network and distribution channels, details on entry barriers, and market growth prospects. It provides an extensive analysis of the key players operating in the global Microgrid market.

The key players in the Microgrid market are adopting various strategies such as mergers and acquisitions, joint ventures, collaborations, partnerships, research and development investments and product launches to gain robust footing in the Microgrid market and enhance their product base. The competitive landscape is consolidated with Siemens, Honeywell, General Electric (GE), ABB, Schneider Electric, Eaton, Exelon Corporation, Spirae, Inc., S & C Electric Company, and Homer Energy, among others. accounting for the maximum share of the global Microgrid market.

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It also analyzes the revenue growth, key factors impacting the market growth in each region, regulatory framework, economic growth, consumer demand, and presence of key companies.

The global Microgrid market has been categorized on the basis of key geographical regions into North America, Asia Pacific, Europe, Latin America, and Middle East & Africa. It evaluates the presence of the global Microgrid market in the major regions with regards to market share, market size, revenue contribution, sales network and distribution channel, and other key elements.

Global Microgrid Market Report

To be updated, the report is furnished with the latest impact of the currently unfolding coronavirus pandemic on the Microgrid industry. The pandemic began in late 2019 and hit the world in early 2020, disrupting the normal lives and affecting every segment of the world. The Microgrid report gives a comprehensive report offering beneficial data about the competitive landscape of the Microgrid market and covers key details of the key companies along with their revenue contribution, financial standing, profit margins, strategic alliances such as mergers and acquisitions, and other key elements.

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The main aim of the Microgrid report is to help the user, reader, investor understand the exact market scenario. The report offers details about leading regions, applications, types, end users, Microgrid market value and volume along with business verticals.

Power Outlook (Revenue, USD Billion; 2017-2027)
Combined heat & power (CHP)
Solar Photovoltaic (PV)
Natural Gas
Fuel Cell
Diesel
Others
Product Outlook (Revenue, USD Billion; 2017-2027)
Grid-connected
Hybrid
Remote
Application Outlook (Revenue, USD Billion; 2017-2027)
Commercial
Defense
Government
Education
Utility
Others
Global Microgrid Market Report – Table of Contents:

Chapter 1 includes the global Microgrid market introduction, followed by the market scope, product offerings, growth opportunities, market risks, driving forces, and others.

Chapter 2 broadly categorizes the Microgrid market on the basis of geography, and determines the sales, revenue, and market shares of each region over the estimated period.

Chapter 3 elaborates on the competitive outlook of the Microgrid market, focusing on the major manufacturers and vendor landscape.

Chapter 4 exhaustively studies the key manufacturers of the Microgrid industry, along with their anticipated sales and revenue shares.

Chapters 5 includes market segmentation based on product type, application range, and market players. 

Key questions addressed in the report:

What are the key factors driving the global Microgrid market?
Who are the key manufacturers in this market space?
Who are the distributors, traders and dealers of this market?
What are the market opportunities and risks affecting the performance of the vendors in the global Microgrid market?
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Source: EIN Presswire