A microgrid is defined as a small-scale local energy grid which can work independently or in conjunction with the area’s main electrical grid. These can power a single facility, or a larger area, to produce the same amount of energy it consumes. This technology offers solution as a paradigm of distributed operation of electric power system, sustainable energy independence, resilience, and reliability that allow campuses to function as an independent energy island.
Increased requirement of improved technology for power generation & distribution and growing industrialization are the major drivers which help in surging the growth of microgrid technology market whereas high cost of installation and huge investment for integrating the existing system with microgrid technology act as a restraining factor for this market. Smart microgrid technology innovation will add new opportunities for this market in the forecast period.
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The “Global Microgrid Technology Market Analysis to 2025” is a specialized and in-depth study of the microgrid technology industry with a focus on the global market trend. The report aims to provide an overview of global microgrid technology market with detailed market segmentation by type, components, grid type, operating modes, application and geography. The global microgrid technology market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading market players and offers key trends and opportunities in the market.
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides overview and forecast of the global microgrid technology market based on type, components, grid type, operating modes and application. It also provides market size and forecast till 2025 for overall microgrid technology market with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America (SAM). The market by each region is later sub-segmented by respective countries and segments. The report covers analysis and forecast of 16 counties globally along with current trend and opportunities prevailing in the region.
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Besides this, the report analyzes factors affecting market from both demand and supply side and further evaluates market dynamics effecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA and South America after evaluating political, economic, social and technological factors effecting the market in these regions.
Also, key microgrid technology market players influencing the market are profiled in the study along with their SWOT analysis and market strategies. The report also focuses on leading industry players with information such as company profiles, products and services offered, financial information of last 3 years, key development in past five years. Some of the key players influencing the market are ABB Ltd., General Electric, Eaton Corporation PLC, Schneider Electric, Power Analytics Corporation, Homer Energy LLC, S&C Electric Company, Siemens AG, Exelon Corporation and Caterpillar Inc. among others.
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