According to a market report by Lucintel, the future of the micro-grid market looks promising with opportunities in the healthcare, educational institutions, industrial, military, and electric utility industries. The microgrid market is expected to grow with a CAGR of 12% from 2019 to 2024. The major drivers for this market are growing demand for automated grid system, increasing awareness to reduced carbon footprint, enhancement in microgrid connectivity through integration of IoT, and advantages of low-cost and clean energy storage.
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In this market, AC microgrid, DC microgrid, and hybrid are the major grid types. Within the microgrid market, healthcare, educational institutions, industrial, military, and electric utility are the major end use industries. Grid connected and remote/island are the microgrid types.
APAC will remain the largest market over the forecast period.
ABB, General Electric, Eaton, Siemens, Schneider Electric, Honeywell, Homer Energy, S&C Electric, Power Analytics, and Exelon Corporation are among the major manufacturers of microgrid.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the microgrid market by connectivity, grid type, end use industry, and region. Lucintel has prepared a comprehensive research report entitled “Microgrid Market 2019-2024: Trends, Forecast, and Opportunity Analysis.” This Lucintel report serves as a catalyst for growth strategy as it provides comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for the microgrid market by connectivity, grid type, end use industry, and region as follows:
By Connectivity [$M shipment analysis for 2013 – 2024]:
Grid Connected
Remote/Island
By Grid Type [$M shipment analysis for 2013 – 2024]:
AC Microgrid
DC Microgrid
Hybrid
By End Use Industry [$M shipment analysis for 2013 – 2024]:
Healthcare
Educational Institutions
Industrial
Military
Electric Utility
Others
By Region [$M shipment analysis for 2013 – 2024]:
North America
United States
Canada
Mexico
Europe
Asia Pacific
Rest of the World
This 150-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link https://www.lucintel.com/micro-grid-market.aspx or helpdesk@lucintel.com.
About Lucintel
Lucintel, the premier global Management Consulting and market research firm, creates winning strategies for growth. It offers market assessments, competitive analysis, opportunity analysis, Growth Consulting, M&A, and Due diligence services to executives and key decision-makers in a variety of industries. For further information, visit www.lucintel.com.