"Actionable Insights to Fuel Your Growth"
The transmission and distribution of electricity from power station to end user use a complex system called the electric grid. While transferring electricity there is a massive loss in transmission and distribution of electricity. To curb this problem microgrid has emerging as a leading technology to minimize the transmission losses. Microgrid is a fundamental solution for providing a secure and reliable power supply with increased efficiency. The microgrid are local energy grids that can operate either autonomously or while connected to a traditional grid. Usually microgrid consist of distributed generation sources, particularly renewable energy sources such as solar and wind, accompanied by an energy storage device which includes a set of batteries. The system is controlled through microgrid controller incorporating demand-response so that demand can be matched to available supply in an efficient and optimized manner. The shifting trends towards renewable energy sources around the world to counter climate change, microgrid offer a range of benefits locally and nationally in terms of economic advantage and increased efficiency. Most of the countries around the world are adopting Microgrid technology for providing electricity irrespective of the harsh environmental condition which improves overall transmission and distribution systems.
To gain extensive insights into the market, Request for Customization
The segmentation of microgrid can be done on the basis of type i.e. Grid-Connected Microgrid and Off-Grid Microgrid. In a grid-connected system, highly available power grid may act as an additional source of power for microgrid. It is connected to the national grid through a point of common coupling. Off-grid Microgrid are self-sustaining, autonomous energy system operates independently of the main grid deployed mainly in remote areas, villages, military units, and remote industrial operation.
Microgrid not only offers a safe and reliable source of power but also increases the optimal use of energy which is expected to increase the growth of the microgrid in the market. It offers power resilience against natural disasters like earthquakes, tsunamis, and storms. Increasing deployment of microgrid is the use of artificial intelligence (AI) which allows continuous adaptation and improvement of the operation of microgrid controllers which drive the market of microgrid.
To set up a microgrid needs a huge initial investment along with difficulties in land acquisition which inhibits its growth. The drafted policies and regulation by the government make hectic to acquire a license for operating or installing microgrid.
The top companies in the microgrid market are ABB, Schneider Electric, Encorp, Schweitzer Engineering Laboratories, Siemens, S&C Electric, PowerSecure, Spirae, Power One Solutions, Emerson Automation Solutions, CleanSpark, Honeywell, Power Analytics and Exelon Corporation.
By End User
· Educational Institutes
· Military & Defence
· Remote Areas
· Commercial & Industrial
· North America (USA and Canada)
· Europe (UK, Germany, France, Italy, Spain, Russia and Rest of Europe)
· Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
· Latin America (Brazil, Mexico and Rest of Latin America)
· Middle East & Africa (South Africa, GCC and Rest of Middle East & Africa)
The global microgrid market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. North America is most prone to natural disasters such as wildfires, tornadoes, thunderstorms, floods, hurricanes, volcanoes, etc. which disturb the operation of the national grid. In this case, the microgrid provides a safe and reliable power supply in remote areas. The United States houses some of the prestigious institutions in the world along with top tech companies where microgrid can be deployed for continuous power supply. Europe is adopting clean energy policies to combat serious environmental threats. Microgrid is possibly the best option to provide clean energy as it coupled with conventional power sources and renewable power sources to generate electricity. Countries like Denmark, Austria, Latvia, etc. are producing more energy by using renewables. Microgrid offers higher power resiliency and efficient in power transmission in remote areas which expected to increase the growth of the microgrid in Europe. The Asia-Pacific having the largest potential market for microgrid as there is a huge gap in the demand-supply chain. The Indian government eyeing for electrification in every household by 2022 and investing a lot for the development of microgrid. The recent development and increasing investment in microgrid will drive the market in the Asia-Pacific region. MEA having the largest infrastructure projects in the world, potential growth of emerging new automotive companies, the largest producer of oil and gas and much more reviving their energy policies to mitigate the energy disparity and rising carbon emission which enhances the growth of the microgrid in this region. In Africa most locality is residing in villages where grid infrastructure is not available; microgrid is gaining popularity in remote villages and isolated towns. As a result, most African countries and companies are adopting microgrid as a primary means of the power supply.
“We are happy with the professionalism of your in-house research team as well as the quality of your research reports. Looking forward to work together on similar projects”- One of the Leading Food Companies in Germany
“We appreciate the teamwork and efficiency for such an exhaustive and comprehensive report. The data offered to us was exactly what we were looking for. Thank you!”- Intuitive Surgical
“I recommend Fortune Business Insights for their honesty and flexibility. Not only that they were very responsive and dealt with all my questions very quickly but they also responded honestly and flexibly to the detailed requests from us in preparing the research report. We value them as a research company worthy of building long-term relationships.”- Major Food Company in Japan
“Well done Fortune Business Insights! The report covered all the points and was very detailed. Looking forward to work together in the future”- Ziering Medical
“It has been a delightful experience working with you guys. Thank you Fortune Business Insights for your efforts and prompt response”- Major Manufacturer of Precision Machine Parts in India
“I had a great experience working with Fortune Business Insights. The report was very accurate and as per my requirements. Very satisfied with the overall report as it has helped me to build strategies for my business”- Hewlett-Packard
“This is regarding the recent report I bought from Fortune Business insights. Remarkable job and great efforts by your research team. I would also like to thank the back end team for offering a continuous support and stitching together a report that is so comprehensive and exhaustive”- Global Management Consulting Firm
“Please pass on our sincere thanks to the whole team at Fortune Business Insights. This is a very good piece of work and will be very helpful to us going forward. We know where we will be getting business intelligence from in the future.”- UK-based Start-up in the Medical Devices Sector
“Thank you for sending the market report and data. It looks quite comprehensive and the data is exactly what I was looking for. I appreciate the timeliness and responsiveness of you and your team.”- One of the Largest Companies in the Defence Industry