Microgrids - Global Strategic Business Report

The global market for Microgrids was valued at US$39.2 Billion in 2024 and is projected to reach US$101.9 Billion by 2030, growing at a CAGR of 17.3% from 2024 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions.

Global Microgrids Market - Key Trends & Drivers Summarized

Microgrids are localized energy systems capable of operating independently or in conjunction with the main power grid. They consist of distributed energy resources (DERs) such as solar panels, wind turbines, energy storage systems, and backup generators, along with control systems that manage the distribution and usage of electricity. Microgrids provide a reliable and resilient power supply, especially in remote or off-grid locations, and can continue operating during main grid outages. They are increasingly being deployed in various settings, including military bases, campuses, industrial sites, and residential communities, to enhance energy security and sustainability.

The deployment of microgrids is driven by several factors, including the increasing frequency of extreme weather events, the need for energy resilience, and the push for renewable energy integration. Microgrids offer significant advantages by enabling the integration of renewable energy sources and reducing reliance on fossil fuels. Advanced control systems and energy management software optimize the generation, storage, and consumption of electricity within microgrids, ensuring efficient and reliable operations. Additionally, microgrids can participate in demand response programs, providing grid services and generating revenue for their operators.

The growth in the microgrids market is driven by several factors. Firstly, the increasing demand for energy resilience and security, especially in areas prone to natural disasters, is a significant driver. Secondly, the rising adoption of renewable energy sources and the need for their efficient integration into the energy system are boosting the deployment of microgrids. Thirdly, advancements in energy storage technologies and control systems are enhancing the performance and reliability of microgrids. Additionally, supportive government policies and incentives for clean energy projects are encouraging the development of microgrids. Furthermore, the growing awareness of the environmental benefits of microgrids and their role in reducing greenhouse gas emissions is driving their adoption. Lastly, the expansion of electrification in remote and off-grid areas is creating new opportunities for microgrid deployment.

Scope of the Study

The report analyzes the Microgrids market, presented in terms of market value (US$ Thousand). The analysis covers the key segments and geographic regions outlined below.

Segments:

Connectivity (Grid Connected, Off-Grid Connected); End-Use (Remote, Commercial & Industrial, Government, Military, Utilities, Other End-Uses).

Geographic Regions/Countries:

World; USA; Canada; Japan; China; Europe; France; Germany; Italy; UK; Spain; Russia; Rest of Europe; Asia-Pacific; Australia; India; South Korea; Rest of Asia-Pacific; Latin America; Argentina; Brazil; Mexico; Rest of Latin America; Middle East; Iran; Israel; Saudi Arabia; UAE; Rest of Middle East; Africa.

Key Insights:

• Market Growth: Understand the significant growth trajectory of the Grid Connected Microgrids segment, which is expected to reach US$76.2 Billion by 2030 with a CAGR of a 18.6%. The Off-Grid Connected Microgrids segment is also set to grow at 13.8% CAGR over the analysis period.
• Regional Analysis: Gain insights into the U.S. market, valued at $4.8 Billion in 2024, and China, forecasted to grow at an impressive 19.3% CAGR to reach $22.2 Billion by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.

Report Features:

• Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2024 to 2030.
• In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
• Company Profiles: Coverage of major players such as ABB Ltd, Caterpillar, Eaton Corporation Inc., GE’s Grid Solutions, General Microgrids and more.
• Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.

Why You Should Buy This Report:

• Detailed Market Analysis: Access a thorough analysis of the Global Microgrids Market, covering all major geographic regions and market segments.
• Competitive Insights: Get an overview of the competitive landscape, including the market presence of major players across different geographies.
• Future Trends and Drivers: Understand the key trends and drivers shaping the future of the Global Microgrids Market.
• Actionable Insights: Benefit from actionable insights that can help you identify new revenue opportunities and make strategic business decisions.

Key Questions Answered:

• How is the Global Microgrids Market expected to evolve by 2030?
• What are the main drivers and restraints affecting the market?
• Which market segments will grow the most over the forecast period?
• How will market shares for different regions and segments change by 2030?
• Who are the leading players in the market, and what are their prospects?

Some of the 127 major companies featured in this Microgrids market report include:

• 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