DUBLIN--(BUSINESS WIRE)--Research and Markets has announced the addition of the "Global Microgrid Market Insights, Opportunity Analysis, Market Shares and Forecast, 2016 - 2022" report to their offering.
The global microgrid market is estimated to reach $35 billion by 2022 with a CAGR of 12% during 2016-2022.
Many factors such as low costs for clean energy, energy storage technologies in microgrids, the military searching another options for energy resources, and tremendous climate effects on the working processes of grids are the driving factors of the microgrid market. Growing emissions of toxic gases and extreme weather conditions are major factors which drive the microgrid market.
Microgrids can be used to produce power from both renewable and non-renewable energy sources. All over the world, governments are taking initiatives in setting up wind power plants for generation of wind energy, as well as bio power farms, and solar, and are increasingly concentrating on renewable energy resource-based microgrids. Government initiatives towards growing industrialization, green energy, and demand for safe and reliable power supply are some of the factors which drive the global microgrid market. More than 30% peoples in USA used solar-based electricity. New York takes initiative and evaluated over 80 microgrid projects.
Geographically, the global microgrid market is divided into North America, Europe, Asia Pacific and Rest of the World. Presently, military and remote systems are the two major market segments for the development of microgrids in North America. The increasing number of initiatives from the US government for the execution of energy-efficient power solutions will fuel the market's growth in the North American region. Europe is presently at a preliminary phase, but quick extension has been anticipated soon in this region also. Asia Pacific region has been mounting a faster pace owing to increase in energy power demand with the increase in population.
Companies Mentioned:
- ABB
- Duke Energy
- Eaton
- Exelon Corporation
- Fairbanks Morse
- General Electric
- Hitachi
- International District Energy Association (Idea)
- Microgrid Resource Coalition
- National Grid
- Navigant
- NRG Energy
- Power Engineers
- Princeton Power Systems
- S And C Electric
Key Topics Covered:
1. Introduction
2. Market Overview
3. Market Determinants
4. Market Segmentation
5. Competitive Landscape
6. Global Microgrid Market By Region
7. Company Profiles
For more information about this report visit http://www.researchandmarkets.com/research/wtth3z/global_microgrid
