Feb 25, 2021 (Market Insight Reports) -- Selbyville, Delaware Market Study Report Has Added A New Report On Microgrid Market That Provides A Comprehensive Review Of This Industry With Respect To The Driving Forces Influencing The Market Size. Comprising The Current And Future Trends Defining The Dynamics Of This Industry Vertical, This Report Also Incorporates The Regional Landscape Of Microgrid Market In Tandem With Its Competitive Terrain.
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Global Microgrid Market Analysis, 2020 market research report depicts a deep dive market analysis of statistics of global Microgrid market which consists of regional and country-wise market size, forecast, CAGR market segmentation, market shares of diverse regions and countries, market share of various end-users, applications, product type, technologies, competitive benchmarking, etc.
The key factors associated with the growth of the microgrid market are the mounting demand for reliable and secure power supply across the globe coupled with the galvanizing deployment of microgrids of rural electrification. Another reason for the market growth of microgrids is the surging demand for clean energy and proliferation in government initiatives for the development of microgrids. The market growth of microgrid is foreseen during the forecast period.
COVID-19 Impact: COVID-19 pandemic menace is expected to slow down the project acquisition, procurement and allotment. Therefore, the growth is expected to be subdued during 2020-21. The investments are expected to pick up post 2021 due to rapid business easing.
According to MarkNtel Advisorsa?? research report a??Global Microgrid Market Analysis, 2020a??, the global Microgrid market is anticipated to grow at a CAGR of less than 12% during 2020-25. However, snowballing cyberattacks on the energy infrastructure are hindering the market growth.
Power Generator Segment Remained the Dominant Segment
For reducing the electricity costs, less emission of carbon and improved reliability are contributing to the growth of the power generator segment. The segment held the highest market share in 2019. End-users, in order to achieve energy efficiency goals, opt for power generators. Energy distribution through microgrids includes renewable energy such as solar energy, wind turbines, and hydro turbines. Therefore, the segment is expected to witness propelled growth during the forecast period.
Natural Gas Based Microgrids Gaining Traction
Based on the source segmentation, the natural gas segment is gaining popularity owing to the augmenting need for power generationMoreover, the integration towards sustainable and efficient power supply would mushroom the global microgrid market through 2025. Furthermore, the expansion of shale gas production and elevating competition form the US for shale would catalyze the demand for microgrids in the coming years as revealed by the MarkNtel Advisorsa?? research report a??Global Microgrid Market Analysis, 2020a??.
According to MarkNtel Advisorsa, ABB, General Electric (GE), Siemens, Eaton, Schneider Electric, Honeywell, HOMER Energy, S&C Electric, Power Analytics, Exelon Corporation are few of the leading players in the Global Microgrid Market.
Key Questions Answered in the Market Research Report
What are the key overall market statistics or market estimates (Market Overview, Market Size- By Value, Forecast Numbers, Market Segmentation, Market Shares) of Global Microgrid Market?
What are the region-wise industry size, growth drivers and challenges key market trends?
What are the key innovations, technology upgrades, opportunities, regulations in the Global Microgrid Market?
Who are the key competitors or market players and how they perform in the Global Microgrid Market based on the competitive benchmarking matrix?