A microgrid can be defined as a group of interconnected loads and distributed energy resources within clearly defined electrical boundaries which acts as a single controllable entity with respect to the grid. A microgrid can connect and disconnect from the grid to enable it to operate in both grid-connected or island-mode. Microgrids can also be intended as back-up power or to bolster the main power grid during periods of heavy demand. Often, microgrids involve multiple energy sources as a way of incorporating renewable power. Other purposes include reducing costs and enhancing reliability. Globally, increasing power demand is expected to remain the key growth driver for microgrids during the period of study.
Geographically, North America dominated the microgrid market driven by higher demand and consumption of microgrid components used in its well established electricity distribution network. North America was followed by Asia-Pacific and Europe as second and third largest market for the microgrid market. Asia Pacific is projected to have the fastest growth, owing to increasing demand of rural electrification projects and rapidly growing mining vertical in the Indian market.
With the increase in investments, a large number of plants are expected to be set up, which require microgrid solutions for power transmission and distribution, which is directly expected to impact the growth of the overall market in developing nations such as China and India in this region.
- ABB Ltd.
- Eaton Corporation PLC
- General Electric
- Siemens AG
- Exelon Corporation
- Honeywell International, Inc.
- NRG Energy, Inc.
- Anbaric Transmission, Llc
- Pareto Energy
- Spirae, Inc.
- Northern Power Systems Corp
Key Topics Covered:
1. Market Overview
2. Executive Summary
3. Microgrid Market Landscape
4. Market Forces
5. Strategic Analysis
6. Microgrid Market, By Grid Type
7. Microgrid Market, By Component
8. Microgrid Market, By Vertical
9. Microgrid Market, By Geography
10. Microgrid Market - Entropy
11. Company Profiles
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