Stratistics MRC’s Global Microgrid Market value is expected to reach $20.89 billion growing at a CAGR of 15.21% during 2022-2028.
A microgrid is an energy system with connected loads and scattered energy supplies that functions either simultaneously with or independently from the main power grid. It mainly consists of fuel cells, battery storage systems, wind turbine generators, micro turbines, and solar generators to transport electricity from producers to consumers. It increases the reliability and resilience of the electric grid, improves its efficiency and stability, and reduces peak loads, fuel consumption, and congestion. As microgrids are more effective than traditional electrical networks, they may be connected to a range of renewable energy sources, such as solar, small hydro, wind, waste-to-energy, geothermal, and combined heat and power systems.
Browse complete “Microgrid Market” report with TOC @ https://www.strategymrc.com/report/microgridmarket
Asia Pacific is projected to have the highest CAGR over the forecast period, owing to its high power demand. The low electrification rate, inadequate grid connectivity, and high demand for power in the area are its main contributors. Governments in Asia-Pacific nations intend to support distributed energy generation and microgrids in order to provide electricity to their citizens. In addition, it is anticipated that rapid urbanization and industrialisation in China and India would greatly increase market demand.
Some of the key players profiled in the Microgrid Market include ABB Ltd, Honeywell International Inc, Toshiba Corporation, Ameresco Inc, S&C Electric Company, ZBB Energy Corporation, GE Digital Energy, Chevron Energy, HOMER Energy LLC, Viridity Energy Inc, Lockheed Martin Corporation, Siemens AG, Microgrid Energy LLC, Power Analytics Corporation, Hitachi Ltd, Schneider Electric SE, Eaton Corporation Plc, Caterpillar Inc, Exelon Corporation and Cummins Inc.
Request a Sample of “Microgrid Market” @ https://www.strategymrc.com/report/microgridmarket
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
Comprehensive profiling of additional market players (up to 3)
SWOT Analysis of key players (up to 3)
Market estimations, Forecasts and CAGR of any prominent country as per the client’s interest (Note: Depends on feasibility check)
Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
For more information about this report visit https://www.strategymrc.com/report/microgridmarket
Report Store: https://www.strategymrc.com/report-store
Covid-19 reports: https://www.strategymrc.com/covid-19-impact-reports
Organization: Stratistics Market Research Consulting Pvt Ltd
Address: #233, Woods Enclave, Pet Basheerabad, Hyderabad – 500055, India.
Stratistics MRC offer a wide spectrum of research and consulting services with in-depth knowledge of different industries. Our research reports and publications are routed to help our clients to design their business models and enhance their business growth in the competitive market scenario. We have a strong team with hand-picked consultants including project managers, implementers, Market experts, researchers, research evaluators and analysts with years of experience in delivering the complex projects.
This release was published on openPR.