Showing posts with label Global Microgrid Market. Show all posts
Showing posts with label Global Microgrid Market. Show all posts

Wednesday, November 24, 2021

Global Microgrid Market Is Predicted to Augment Owing to Growing Adoption of Microgrids For Rural Electrification: Ken Research

A microgrid is a self-sufficient energy system that serves a discrete geographic footprint, likewise college campus, business center, hospital complex or neighbourhood. In addition, within the microgrids are one or more forms of distributed energy that generates its power. Several newer microgrids entail energy storage, typically from the batteries. Some also now have electric vehicle charging stations.

Microgrid is an autonomously functioning traditional energy grid i.e., it is like a local energy grid but has control ability ad can disconnect form the grid to function autonomously. According to the U.S. Department of Energy Microgrid Exchange Group, a microgrid is a group of linked loads and energy sources within clearly well-defined electrical boundaries and functions like a single manageable entity with respect to the grid. A microgrid can link and disconnect from the grid which enables it to function in both grid-connected and island-mode. With the falling price of solar energy and its environmental advantages, most microgrids nowadays are being structured to supply electricity with an amalgamation of solar power and battery storage.

Grids links businesses, homes and several other buildings to a central power source which enables the working of appliances such as electronics, heating/cooling systems etc. Owing to this when a part of the grid requires to be revamped, everyone is affected. Microgrids support in this aspect. Microgrids can break off from the major grid and word on its own local energy in times of crisis such as power outages and storms.

According to the report analysis, ‘Microgrid Market: Current Analysis and Forecast (2021-2027)states that some of the foremost players functioning in the microgrid market comprise ABB, General Electric Company, Siemens AG, Eaton Corporation Inc, Schneider Electric SE, Honeywell International Inc., HOMER Energy LLC, S&C Electric Company, Power Analytics Corporation, and Exelon Corporation for ruling around the globe, generating the high percentage of revenue, keep maintaining the governing position, leading the highest market growth, registering the great value of market share and obtaining the competitive edge by establishing the several research and development programs, increasing the applications and benefits of microgrids, implementing the policies and strategies of enlargement and profit making, improving the qualitative and quantitative measures of such, analysing the strategies and policies of regulatory authorities and similar entities, spreading the awareness connected to the features and benefits of microgrids, and delivering the better consumer satisfaction.

The growth of the microgrid market is propelled by aspects such as increasing aim on decarbonization by countless end users and government, growing requirement for uninterrupted power supply, increasing implementation of microgrids for rural electrification, and growing instances of the cyberattacks on energy infrastructures. Initiatives by governments of dissimilar countries to motivate the development of microgrids are also propelling the growth of the industry.

Region wise, it is predicted that North America is leading the microgrid market and is probable to continue registering the market owing to the number of forthcoming projects. The Environmental Defense Fund proclaimed a new initiative in Puerto Rico that focuses to foster collaboration on low-carbon microgrid projects in the rural communities. The government initiative is probable to attract investment from a private entity in the market. Therefore, in the near years, it is predicted that the market of microgrid will increase around the globe more actively over the near future.

For More Information, refer to below link:-

Global Microgrid Market

Contact Us:-
Ken Research
Ankur Gupta, Head Marketing & Communications
Support@kenresearch.com
+91-9015378249

Wednesday, June 17, 2020

Global Microgrid Market Outlook: Ken Research

Global Microgrid Market valued approximately USD xxx million in 2017 is anticipated to grow with a healthy growth rate of more than xxx% over the forecast period 2018-2025. The Microgrid market is mainly driven owing to escalating utility of localized sources considering power generation, fewer lines losses and surging adaptability of microgrids in military, commercial and industrial applications considering the global scenario. The Microgrids are responsible to generate power, and in doing so lower dependence on the long distance transmission lines along with cut transmission losses. The microgrid is basically a combination of technologies which includes electricity generation, transmission & distribution and is utilized on a small scale in comparison to the conventional macrogrid. It also performs functions such as the adding or removing new energy resources deprived of modifying existing components.

The regional analysis of Global Microgrid Market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the fastest growing region across the world in terms of market share. Whereas, owing to the countries such as China, Japan, and India, Asia Pacific region is anticipated to be the dominating region over the forecast period 2018-2025.

The leading market players mainly include-
ABB
General Electric
Eaton Corporation
Siemens AG
Honeywell, Inc
Schneider Electric
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Characteristics:
Hybrid
Grid Connected
Off-Grid

By Application:
Commercial/Industrial Microgrid
Utility Microgrid
Military Microgrid
Institutional Microgrid
Others

By Regions:
North America
U.S.
Canada
Europe
UK
Germany
Asia Pacific
China
India
Japan
Latin America
Brazil
Mexico
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year - 2015, 2016
Base year - 2017
Forecast period - 2018 to 2025
Target Audience of the Global Microgrid Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors

For More Information, Click on the Link Below:-

Contact Us:-
Ken Research
Ankur Gupta, Head Marketing & Communications
+91-9015378249