Report forecast the global microgrid market to grow at a
CAGR of 13.67% during the period 2016-2020.
A microgrid is a smaller version of a conventional
centralized electrical grid. It is capable of producing power, distributing it,
and controlling the flow of energy supplied to consumers within a specified
geography. It can function autonomously or operate parallel with a conventional
grid. However, compared with a conventional grid, the power generated by a
microgrid is supplied to establishments or houses that are situated in close
proximity to the plant. This reduces transmission and distribution losses,
which are generally associated with centralized power generation.
The report covers the present scenario and the growth
prospects of the global microgrid market for 2016-2020. To calculate the market
size, the report considers the revenue generated from the demand generated by
different end-users in any region in the microgrid market.
The market is divided into the following segments based
on geography:
- Americas
- APAC
- EMEA
According to the report, rise in natural calamities will be
a key driver for market growth. Natural disasters are making a business case
for microgrids, and are driving their adoption across the world, especially in
regions that are frequently affected by natural calamities, such as the southern
part of the US. As a large portion of the power can be generated on site,
microgrids provide a higher degree of reliability for mission-critical
facilities such as military base, hospitals, and data centers that need to
function continuously under any circumstance.
Further, the report states that high implementation costs
will be a challenge for the market. A microgrid is built according to the needs
of a variety of dynamic load types and is capable of operating under various
grid conditions. However, most microgrids are usually built upon existing
infrastructure, so there is no fixed cost for a microgrid. Depending on the
project needs, a microgrid can cost as low as $250,000 to about $100 million.
Global Microgrid Market 2016-2020, has been prepared based
on an in-depth market analysis with inputs from industry experts. The report
covers the market landscape and its growth prospects over the coming years. The
report also includes a discussion of the key vendors operating in this market.
key players in the global microgrid market: ABB, GE-Alstom Energy, Lockheed Martin,
Schneider Electric, and Siemens.
Other Prominent Vendors in the market are: Chevron Energy,
Cummins, Echelon, Encorp, General Microgrids, Honeywell, Mera Gao Power,
Microgrid Solar, Pareto Energy¸ Power Analytics, S&C Electric Company, SMA,
Spirae, and Toshiba.
Market driver
- Need for better power system compared with traditional grids
- For a full, detailed list, view our report
Market challenge
- High implementation costs
- For a full, detailed list, view our report
Market trend
- Rise in demand for microgrids in military applications
- For a full, detailed list, view our report
Key questions answered in this report
- What will the market size be in 2020 and what will the growth rate be?
- What are the key market trends?
- What is driving this market?
- What are the challenges to market growth?
- Who are the key vendors in this market space?
- What are the market opportunities and threats faced by the key vendors?
- What are the strengths and weaknesses of the key vendors?
Spanning over 73 pages and 47 Exhibit “Global
Microgrid Market 2016 - 2020” report covers Executive summary, Scope of the
report, Market research methodology, Introduction, Market landscape, Market
segmentation by application, Geographical segmentation, Key leading countries,
Market drivers, Impact of drivers, Market challenges, Impact of drivers and
challenges, Market trends, Vendor landscape, Key vendor analysis, Appendix.
For
more information Visit at: http://mrr.cm/343
Related Reports;
Global HVDC Converter Stations Market 2016-2020 - Visit at -
http://mrr.cm/34U
Global Small-Scale Liquefaction Industry 2016-2020 - Visit
at - http://mrr.cm/34w
Global Refining Catalyst Market 2016-2020 - Visit at - http://mrr.cm/34i
Global Smart Solar Market 2016-2020 - Visit at - http://mrr.cm/345