BOULDER, Colo.--(BUSINESS WIRE)--A new report from Navigant Research examines the status and potential future growth of microgrid segments and business models, providing global market forecasts for capacity and implementation spending, broken out by segment and region, through 2027.
Over the last decade, Navigant Research has tracked the global microgrid market as the number of vendors offering products and services increased. Navigant Research was the first to size this market opportunity in 2009 and has continually refined its modeling approach as better data becomes available and microgrids grow in complexity. Click to tweet: According to a new report from @NavigantRSRCH, the global market for microgrids is expected to reach $30.9 Billion in 2027.
“The greatest microgrid deployment growth is expected in the commercial and industrial segment due to declining costs of key microgrid enabling technologies as well as the emergence of new business models,” says Peter Asmus, research director with Navigant. “While North America has been the historical market leader regionally, Asia Pacific maintains and then increases its leadership position throughout the 10-year forecast horizon.”
To acknowledge past uses of the term microgrid, Navigant Research includes remote systems in its analysis, which were first called microgrids decades earlier and now are also included in the US Department of Energy definition. For the first time, this report also sizes the market globally and regionally by the following business model categories: energy-as-a service, government funding, owner financing, and utility rate base financing.
This report, Market Data: Microgrids, analyzes the global market for microgrids, with a focus on the six microgrid market segments and five business model types. The study examines the status of this maturing industry and the potential future growth of microgrid segments and business models. Global market forecasts for capacity and implementation spending, broken out by segment and region, extend through 2027. The report also examines multiple scenarios for future microgrid market growth: conservative, base, and aggressive. An Executive Summary of the report is available for free download on the Navigant Research website.
About Navigant Research
Navigant Research, the dedicated research arm of Navigant, provides market research and benchmarking services for rapidly changing and often highly regulated industries. In the energy sector, Navigant Research focuses on in-depth analysis and reporting about global clean technology markets. The team’s research methodology combines supply-side industry analysis, end-user primary research and demand assessment, and deep examination of technology trends to provide a comprehensive view of the Energy Technologies, Utility Transformations, Transportation Efficiencies, and Buildings Innovations sectors. Additional information about Navigant Research can be found at www.navigantresearch.com.
Navigant Consulting, Inc. is a specialized, global professional services firm that helps clients take control of their future. Navigant’s professionals apply deep industry knowledge, substantive technical expertise, and an enterprising approach to help clients build, manage and/or protect their business interests. With a focus on markets and clients facing transformational change and significant regulatory or legal pressures, the Firm primarily serves clients in the healthcare, energy and financial services industries. Across a range of advisory, consulting, outsourcing, and technology/analytics services, Navigant’s practitioners bring sharp insight that pinpoints opportunities and delivers powerful results. More information about Navigant can be found at navigant.com.
* The information contained in this press release concerning the report, Market Data: Microgrids, is a summary and reflects Navigant Research’s current expectations based on market data and trend analysis. Market predictions and expectations are inherently uncertain and actual results may differ materially from those contained in this press release or the report. Please refer to the full report for a complete understanding of the assumptions underlying the report’s conclusions and the methodologies used to create the report. Neither Navigant Research nor Navigant undertakes any obligation to update any of the information contained in this press release or the report.