Global Microgrid Market is expected to reach US$ XXBn by 2027 from US$ 22.13Bn in 2019 at CAGR of XX%.

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The report includes the analysis of impact of COVID-19 lock-down on the revenue of market leaders, followers, and disrupters. Since lock down was implemented differently in different regions and countries, impact of same is also different by regions and segments. The report has covered the current short term and long term impact on the market, same will help decision makers to prepare the outline for short term and long term strategies for companies by region.

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Global Microgrid Market, Dynamics:

A microgrid is a combination of technologies such as electricity generation, transmission and distribution and is used on a small scale as compared to the conventional macro grid. It performs functions, for instance, adding or removing new energy resources without modifying existing components. A microgrid is a localized group of electricity sources and sinks (loads) that usually operates connected to and synchronous with the traditional centralized grid, but can disconnect and maintain operation autonomously as physical or economic conditions dictate.

The report study has analyzed revenue impact of covid-19 pandemic on the sales revenue of market leaders, market followers and disrupters in the report and same is reflected in our analysis.

Microgrids can be used as a composition of multiple energy generation sources, for instance, solar, wind, biomass, geothermal, and fossil fuel, to generate and supply electricity to a local community, university, and military base is anticipated to be the major driver of the microgrid market. Moreover, high installation & maintenance cost of microgrids and lack of knowledge about procedures to secure license right for connecting multisite microgrids are the restraints of the market.

Software is booming the microgrid market globally. Microgrid software as a service is a remotely-hosted microgrid control solution. Software service is designed for campus, institutions, infrastructures, and utilities that need advanced monitoring, control, and optimization of distributed energy at an affordable cost without the hassle of managing and maintaining on-site IT infrastructure.

Grid-connected is also called grid-tied and off-grid. Grid-connectivity was the dominant segment, accounting for over 55% of the market share, in terms of value, in 2019. A grid-connected segment is projected to expand at a rapid pace during the forecast period, owing to increasing demand for power from underdeveloped and developing countries.
Global Microgrid Market, Regional Analysis:

Region-wise, North America is currently leading the microgrid market. The Canada and U.S. are relatively advanced countries who witnessed early adoption of microgrid solutions in North America. The governments in these countries have recognised the need for a reliable and secure energy source which would take off the load from traditional power generation methods. The U.S. market is mostly focused on grid resiliency and reliability of power supply. A number of the large portion of the microgrid projects have been deployed by the military. In the future, other consumer segments are estimated to embrace microgrids, which would drive the market significantly.
Global Microgrid Market, Key Highlights:

• Global Microgrid Market analysis and forecast, in terms of value.

• Comprehensive study and analysis of market drivers, restraints and opportunities influencing the growth of the Global Microgrid Market

• Global Microgrid Market segmentation on the basis of type, source, end-user, and region (country-wise) has been provided.

• Global Microgrid Market strategic analysis with respect to individual growth trends, future prospects along with the contribution of various sub-market stakeholders have been considered under the scope of study.

• Global Microgrid Market analysis and forecast for five major regions namely North America, Europe, Asia Pacific, the Middle East & Africa (MEA) and Latin America along with country-wise segmentation.

• Profiles of key industry players, their strategic perspective, market positioning and analysis of core competencies are further profiled.

• Competitive developments, investments, strategic expansion and competitive landscape of the key players operating in the Global Microgrid Market are also profiled.
Scope of the Market: Inquire before buying

Market, by Type

• Grid Connected
• Remote/Island
Market, by Offering

• Software
• Hardware
• Service
Market, by Consumption pattern

• Urban & Metropolitan
• Semi-urban
• Rural/Island
Market, by Region

• North America
• Europe
• Asia Pacific
• Middle East and Africa
• South America
Key players operating in the Global Microgrid Market

• Lockheed Martin Corporation
• ZBB Energy Corporation
• ABB Ltd.
• GE Digital Energy
• Power Analytics Corporation
• Consert Inc.
• Viridity Energy, Inc.
• S&C Electric Company
• Chevron Energy
• Toshiba Corporation,
• HOMER Energy LLC
• Honeywell International Inc.
• Microgrid Energy LLC
• Siemens.
• Microgrid Labs Inc
•General Electric Company
• Eaton Corporation Inc.
• HOMER Energy LLC
•Emerson Electric Co.
• Exelon Corporation

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