Microgrid Market Size, Share, Growth, Trends | Report 2022-2030
The global microgrid market was valued at USD 6.76 billion in 2021 and it is predicted to surpass around USD 28.51 billion by 2030 with a CAGR of 17.34% from 2022 to 2030.
Report Highlights
The improvement in manufacturing sectors of emerging markets including Mexico, China, and India as a result of favorable government policies to attract investments is expected to promote market growth.
Microgrid differs from conventional electrical distribution systems as it acts as a close proximity medium between the power generation and power consumption sources which results in increasing efficiency and reducing transmission losses. These systems perform dynamic control over energy sources by enabling autonomous as well as automatic self-healing operations.
The rising importance of captive electricity generation as a key alternative to the regulated power supply by municipal regulators in mining and mechanical engineering sectors is expected to have a strong impact. Furthermore, the rising production output of unconventional sources including shale gas in the U.S. and Canada as a result of high utilization of fracking technology is expected to ensure access of natural gas as a power source over the next eight years.
Scope of The Report
| Report Coverage | Details |
| Market Size in 2021 | USD 6.76 billion |
| Revenue Forecast by 2030 | USD 28.51 billion |
| Growth rate from 2022 to 2030 | CAGR of 17.34% |
| Base Year | 2021 |
| Forecast Period | 2022 to 2030 |
| Segmentation | Power Source, Product, Application, Region |
| Companies Covered |
Lockheed Martin Corporation, Siemens AG, GE, Power Analytics, ABB Group, Microgrid LLC, Spirae Inc, Schneider Electric, ZBB Energy Corporation, Pareto Energy, Toshiba Corporation, Honeywell International Inc., Echelon Corporation and Viridity Energy Inc. |
Power Source Insights
Combined heat & power (CHP) accounted for 39.5% of the global market share in 2021. Shifting preference from conventional separate heat and power system (SHP) to energy generation from single fuel is expected to have a substantial impact.
Fuel cell is expected to foresee volume growth at a CAGR of 28.1% from 2022 to 2030. The superior ability of fuel cells to operate at high temperatures along with negligible electrolytic loss is expected to promote the market scope in the near future.
Solar PV is projected to account for 24.5% of global volume by the end of 2030. Favorable support by developed countries including the U.S., Germany, the U.K., and Japan aimed to upscaling the power generation output from solar energy is expected to have a positive impact. Furthermore, technological advancement regarding the development of organic solar PV modules is expected to open new market opportunities over the next eight years.
Diesel-source grids market was valued at USD 15.1 million in 2021 and is projected to foresee moderate growth as a result of stringent regulations aimed at limiting the power generation from fossil fuels. However, the high adoption rate of diesel source of electricity generation in the manufacturing sectors of developed economies is expected to be a favorable factor.
Product Insights
The grid-connected products market was USD 6.17 billion in 2021. Gaining popularity of smart micro-grid connected PV system on account of supplying power provides electricity to consumers by reducing transmission losses is expected to have a substantial impact. Over the past few years, North Power Systems have been utilizing technology, which integrates their wind turbines with solar PV, diesel gensets, or other power sources of the microgrid. This hybrid technology has been used in grid projects located in Hawaii, Alaska, Bahamas, and Antarctica. Hybrid product forms are expected to account for 4.9% of global revenue size by the end of 2030.
Application Insights
Education dominated the market, accounting for 42.2% of the total volume share in 2021. Rising government spending toward the improvement of education infrastructure for ensuring school education in rural areas in developing countries including China India is expected to have a positive impact.
The commercial application is expected to witness volume growth at a CAGR of 26.3% from 2022 to 2030. Extensive requirements of power supply for ensuring lighting, heat ventilation air conditioning (HVAC), and operating electronic goods in hospitals, corporate offices, and retail outlets are projected to have a high impact.
Regional Insights
North America accounted for 74.9% of global volume share in 2021. The high adoption rate of captive power generation methods in the industrial and municipal sectors of the U.S. for reducing the reliance on the government-controlled power supply is expected to have a substantial impact.
Asia Pacific is projected to witness revenue growth at a CAGR of 27.0% from 2022 to 2030. The positive outlook for manufacturing and construction sectors in the major markets including China and India owing to regulatory support for promoting investments on a domestic level is expected to be major driving factors.
Central & South America is projected to account for 6.5% of the global revenue share by the end of 2030. The firm foothold of mineral processing units of silver and copper in Peru and Chile on account of the abundance of mineral reserves is expected to expand the market size of power distribution systems over the next eight years.
Key Players
Market Segmentation
Chapter 1. Introduction
1.1. Research Objective
1.2. Scope of the Study
1.3. Definition
Chapter 2. Research Methodology
2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations
Chapter 3. Executive Summary
3.1. Market Snapshot
Chapter 4. Market Variables and Scope
4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Channel Analysis
4.3.3. Downstream Buyer Analysis
Chapter 5. COVID 19 Impact on Microgrid Market
5.1. COVID-19 Landscape: Microgrid Industry Impact
5.2. COVID 19 - Impact Assessment for the Industry
5.3. COVID 19 Impact: Global Major Government Policy
5.4. Market Trends and Opportunities in the COVID-19 Landscape
Chapter 6. Market Dynamics Analysis and Trends
6.1. Market Dynamics
6.1.1. Market Drivers
6.1.2. Market Restraints
6.1.3. Market Opportunities
6.2. Porter’s Five Forces Analysis
6.2.1. Bargaining power of suppliers
6.2.2. Bargaining power of buyers
6.2.3. Threat of substitute
6.2.4. Threat of new entrants
6.2.5. Degree of competition
Chapter 7. Competitive Landscape
7.1.1. Company Market Share/Positioning Analysis
7.1.2. Key Strategies Adopted by Players
7.1.3. Vendor Landscape
7.1.3.1. List of Suppliers
7.1.3.2. List of Buyers
Chapter 8. Global Microgrid Market, By Power Source
8.1. Microgrid Market, by Power Source, 2022-2030
8.1.1 Natural Gas
8.1.1.1. Market Revenue and Forecast (2017-2030)
8.1.2. CHP
8.1.2.1. Market Revenue and Forecast (2017-2030)
8.1.3. Solar PV
8.1.3.1. Market Revenue and Forecast (2017-2030)
8.1.4. Diesel
8.1.4.1. Market Revenue and Forecast (2017-2030)
8.1.5. Fuel Cell
8.1.5.1. Market Revenue and Forecast (2017-2030)
8.1.6. Others
8.1.6.1. Market Revenue and Forecast (2017-2030)
Chapter 9. Global Microgrid Market, By Product
9.1. Microgrid Market, by Product, 2022-2030
9.1.1. Remote
9.1.1.1. Market Revenue and Forecast (2017-2030)
9.1.2. Grid-connected
9.1.2.1. Market Revenue and Forecast (2017-2030)
9.1.3. Hybrid
9.1.3.1. Market Revenue and Forecast (2017-2030)
Chapter 10. Global Microgrid Market, By Application
10.1. Microgrid Market, by Application, 2022-2030
10.1.1. Government
10.1.1.1. Market Revenue and Forecast (2017-2030)
10.1.2. Education
10.1.2.1. Market Revenue and Forecast (2017-2030)
10.1.3. Commercial
10.1.3.1. Market Revenue and Forecast (2017-2030)
10.1.4. Utility
10.1.4.1. Market Revenue and Forecast (2017-2030)
10.1.5. Defense
10.1.5.1. Market Revenue and Forecast (2017-2030)
10.1.6. Others
10.1.6.1. Market Revenue and Forecast (2017-2030)
Chapter 11. Global Microgrid Market, Regional Estimates and Trend Forecast
11.1. North America
11.1.1. Market Revenue and Forecast, by Power Source (2017-2030)
11.1.2. Market Revenue and Forecast, by Product (2017-2030)
11.1.3. Market Revenue and Forecast, by Application (2017-2030)
11.1.4. U.S.
11.1.4.1. Market Revenue and Forecast, by Power Source (2017-2030)
11.1.4.2. Market Revenue and Forecast, by Product (2017-2030)
11.1.4.3. Market Revenue and Forecast, by Application (2017-2030)
11.1.5. Rest of North America
11.1.5.1. Market Revenue and Forecast, by Power Source (2017-2030)
11.1.5.2. Market Revenue and Forecast, by Product (2017-2030)
11.1.5.3. Market Revenue and Forecast, by Application (2017-2030)
11.2. Europe
11.2.1. Market Revenue and Forecast, by Power Source (2017-2030)
11.2.2. Market Revenue and Forecast, by Product (2017-2030)
11.2.3. Market Revenue and Forecast, by Application (2017-2030)
11.2.4. UK
11.2.4.1. Market Revenue and Forecast, by Power Source (2017-2030)
11.2.4.2. Market Revenue and Forecast, by Product (2017-2030)
11.2.4.3. Market Revenue and Forecast, by Application (2017-2030)
11.2.5. Germany
11.2.5.1. Market Revenue and Forecast, by Power Source (2017-2030)
11.2.5.2. Market Revenue and Forecast, by Product (2017-2030)
11.2.5.3. Market Revenue and Forecast, by Application (2017-2030)
11.2.6. France
11.2.6.1. Market Revenue and Forecast, by Power Source (2017-2030)
11.2.6.2. Market Revenue and Forecast, by Product (2017-2030)
11.2.6.3. Market Revenue and Forecast, by Application (2017-2030)
11.2.7. Rest of Europe
11.2.7.1. Market Revenue and Forecast, by Power Source (2017-2030)
11.2.7.2. Market Revenue and Forecast, by Product (2017-2030)
11.2.7.3. Market Revenue and Forecast, by Application (2017-2030)
11.3. APAC
11.3.1. Market Revenue and Forecast, by Power Source (2017-2030)
11.3.2. Market Revenue and Forecast, by Product (2017-2030)
11.3.3. Market Revenue and Forecast, by Application (2017-2030)
11.3.4. India
11.3.4.1. Market Revenue and Forecast, by Power Source (2017-2030)
11.3.4.2. Market Revenue and Forecast, by Product (2017-2030)
11.3.4.3. Market Revenue and Forecast, by Application (2017-2030)
11.3.5. China
11.3.5.1. Market Revenue and Forecast, by Power Source (2017-2030)
11.3.5.2. Market Revenue and Forecast, by Product (2017-2030)
11.3.5.3. Market Revenue and Forecast, by Application (2017-2030)
11.3.6. Japan
11.3.6.1. Market Revenue and Forecast, by Power Source (2017-2030)
11.3.6.2. Market Revenue and Forecast, by Product (2017-2030)
11.3.6.3. Market Revenue and Forecast, by Application (2017-2030)
11.3.7. Rest of APAC
11.3.7.1. Market Revenue and Forecast, by Power Source (2017-2030)
11.3.7.2. Market Revenue and Forecast, by Product (2017-2030)
11.3.7.3. Market Revenue and Forecast, by Application (2017-2030)
11.4. MEA
11.4.1. Market Revenue and Forecast, by Power Source (2017-2030)
11.4.2. Market Revenue and Forecast, by Product (2017-2030)
11.4.3. Market Revenue and Forecast, by Application (2017-2030)
11.4.4. GCC
11.4.4.1. Market Revenue and Forecast, by Power Source (2017-2030)
11.4.4.2. Market Revenue and Forecast, by Product (2017-2030)
11.4.4.3. Market Revenue and Forecast, by Application (2017-2030)
11.4.5. North Africa
11.4.5.1. Market Revenue and Forecast, by Power Source (2017-2030)
11.4.5.2. Market Revenue and Forecast, by Product (2017-2030)
11.4.5.3. Market Revenue and Forecast, by Application (2017-2030)
11.4.6. South Africa
11.4.6.1. Market Revenue and Forecast, by Power Source (2017-2030)
11.4.6.2. Market Revenue and Forecast, by Product (2017-2030)
11.4.6.3. Market Revenue and Forecast, by Application (2017-2030)
11.4.7. Rest of MEA
11.4.7.1. Market Revenue and Forecast, by Power Source (2017-2030)
11.4.7.2. Market Revenue and Forecast, by Product (2017-2030)
11.4.7.3. Market Revenue and Forecast, by Application (2017-2030)
11.5. Latin America
11.5.1. Market Revenue and Forecast, by Power Source (2017-2030)
11.5.2. Market Revenue and Forecast, by Product (2017-2030)
11.5.3. Market Revenue and Forecast, by Application (2017-2030)
11.5.4. Brazil
11.5.4.1. Market Revenue and Forecast, by Power Source (2017-2030)
11.5.4.2. Market Revenue and Forecast, by Product (2017-2030)
11.5.4.3. Market Revenue and Forecast, by Application (2017-2030)
11.5.5. Rest of LATAM
11.5.5.1. Market Revenue and Forecast, by Power Source (2017-2030)
11.5.5.2. Market Revenue and Forecast, by Product (2017-2030)
11.5.5.3. Market Revenue and Forecast, by Application (2017-2030)
Chapter 12. Company Profiles
12.1. Lockheed Martin Corporation
12.1.1. Company Overview
12.1.2. Product Offerings
12.1.3. Financial Performance
12.1.4. Recent Initiatives
12.2. Siemens AG
12.2.1. Company Overview
12.2.2. Product Offerings
12.2.3. Financial Performance
12.2.4. Recent Initiatives
12.3. GE
12.3.1. Company Overview
12.3.2. Product Offerings
12.3.3. Financial Performance
12.3.4. Recent Initiatives
12.4. Power Analytics
12.4.1. Company Overview
12.4.2. Product Offerings
12.4.3. Financial Performance
12.4.4. Recent Initiatives
12.5. ABB Group
12.5.1. Company Overview
12.5.2. Product Offerings
12.5.3. Financial Performance
12.5.4. Recent Initiatives
12.6. Microgrid LLC
12.6.1. Company Overview
12.6.2. Product Offerings
12.6.3. Financial Performance
12.6.4. Recent Initiatives
12.7. Spirae Inc
12.7.1. Company Overview
12.7.2. Product Offerings
12.7.3. Financial Performance
12.7.4. Recent Initiatives
12.8. Schneider Electric
12.8.1. Company Overview
12.8.2. Product Offerings
12.8.3. Financial Performance
12.8.4. Recent Initiatives
12.9. ZBB Energy Corporation
12.9.1. Company Overview
12.9.2. Product Offerings
12.9.3. Financial Performance
12.9.4. Recent Initiatives
12.10. Pareto Energy
12.10.1. Company Overview
12.10.2. Product Offerings
12.10.3. Financial Performance
12.10.4. Recent Initiatives
Chapter 13. Research Methodology
13.1. Primary Research
13.2. Secondary Research
13.3. Assumptions
Chapter 14. Appendix
14.1. About Us
14.2. Glossary of Terms
Cross-segment Market Size and Analysis for
Mentioned Segments
Additional Company Profiles (Upto 5 With No Cost)
Additional Countries (Apart From Mentioned Countries)
Country/Region-specific Report
Go To Market Strategy
Region Specific Market DynamicsRegion Level Market Share Import Export AnalysisProduction AnalysisOthers