The global microgrid market is expected to reach USD 17.51 billion by 2025, growing at a CAGR of 17.0%, according to a new report by Grand View Research, Inc. The improvement in manufacturing sectors of emerging markets including Mexico, China, and India as a result of favorable government policies to attract investments is expected to promote market growth.
Microgrid differs from conventional electrical distribution systems as it acts as a close proximity medium between the power generation and power consumption sources which results in increasing efficiency and reducing transmission losses. These systems perform dynamic control over energy sources by enabling autonomous as well as automatic self-healing operations.
The rising importance of captive electricity generation as a key alternative to the regulated power supply by municipal regulators in mining and mechanical engineering sectors is expected to have a strong impact. Furthermore, the rising production output of unconventional sources including shale gas in the U.S. and Canada as a result of high utilization of fracking technology is expected to ensure access of natural gas as a power source over the next eight years.
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U.S. microgrid market, by power source, 2014 – 2025 (USD Million)
Key Takeaways from the report:
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Microgrid market volume, by application, 2016, (%)
Major Players:
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Grand View Research has segmented the global microgrid market on the basis of power source, product, application, and region:
Microgrid Power Source Outlook (Volume, MW; Revenue, USD Million; 2014 – 2025)
Microgrid Product Outlook (Volume, MW; Revenue, USD Million; 2014 – 2025)
Microgrid Application Outlook (Volume, MW; Revenue, USD Million; 2014 – 2025)
Microgrid Regional Outlook (Volume, MW; Revenue, USD Million; 2014 – 2025)
About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
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