A Micro Grid is a localized assemblage of electricity
sources and loads that normally connected to and synchronous with the
traditional wide area synchronous grid, but can also disengage to and function
autonomously as physical or economic conditions prescription. By this, it
generates a way to effectively assimilate the numerous sources of distributed
generation, especially the renewable energy sources. High investments by
government in Micro Grid infrastructure, growing demand for mass from
hospitals, defence and remote areas, existence of flex-pay options boots the
adoption of mass and several others are the major key factors which drive the
market growth more actively in the coming years. Whereas, the market is having
some restraints which hinder the market growth likewise the stringent
regulations, policies and quality and standards, dominance of customer-owned Micro
Grid and several others. Furthermore, the players of this market is playing an
effective role by facing challenges such as complexities in planning and design
of large-size Micro Grid, lack of awareness and several others by which the
market will grow in the near future more actively.
According to the report analysis, ‘Global Micro Grid As a Service market-
Technologies, Market share and Industry Forecast to 2024’ states that there are some major key
players which are recently functioning in this market more actively for
acquiring the huge market share by doing significant development and spreading
awareness across the globe regarding this likewise Abb Ltd (Switzerland),
Anbaric Transmission (U.S), Caterpillar Inc. (U.S.), Duke Energy
Corporation(US), Eaton Corporation Plc (Ireland), Exelon Corporation (U.S),
General Electric (U.S), Green Energy Corporation (U.S), Northern Power Systems
Corp (U.S), Nrg Energy , Inc (U.S), Pareto Energy (U.S), Schneider Electric
Se(France), Siemens Ag (Germany), Solarcity Corporation(U.S), Spirae, Inc
(U.S.) and several others. In addition, the major opportunities for the global
micros grid as a service market are rural electrification in APAC and Africa
and growing usage of behind the meter micros grid virtual batteries for energy
storage.
The market of Micro Grid is segmented differently
across the various sector of market and across the globe such as based on the
service type, grid type and verticals. While, based on the grid the market is
classified into islanded type/remote and grid-connected type of which
remote/island types is anticipated to rise at the huge rate in the coming years
as it enables services to better maintain distributed energy sources and
achieve higher control in meeting energy requirements. For instance, based on
the service type sector it is split into design and engineering service,
monitoring and control service, operation and maintenance service and software
as a service.
Based on the geographic phase, with the availability
of opportunities and key drivers the market of Micro Grid is spread across the
globe which majorly includes North America, Europe, Asia Pacific region, Latin
America, Middle East and Africa and rest of the world. However, in 2016
Caterpillar Inc. introduced its Cat Micro Grid technology, and develop suite of
power systems that adds environmentally friendly solar panels. Therefore, in
the coming years it is expected that the market of Micro
Grid will grow across the globe over the recent decades.
For more information on the research report,
refer to below link:
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Ken Research
Ankur Gupta, Head Marketing & Communications
Sales@kenresearch.com
+91-9015378249
Ken Research
Ankur Gupta, Head Marketing & Communications
Sales@kenresearch.com
+91-9015378249
