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 system as it acts 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.
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, 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.
U.S.
microgrid market, by power source, 2014 - 2025 (USD Million)
Browse full
research report on Microgrid Market: http://www.grandviewresearch.com/industry-analysis/microgrid-market
Further
key findings from the report suggest:
- The global microgrid demand was stood at 1.48
GW in 2016 and is projected to reach 6.54 GW by the end of 2025, expanding
at a CAGR of 16.3% from 2017 to 2025.
- Remote microgrid market demand was 568.2 MW in
2016. The segment is expected to foresee tremendous gains owing to the
upcoming installation of new projects in Arctic circle, Russia
- Natural gas is expected to witness revenue
growth at a CAGR of 18.1% from 2017 to 2025. The governments of Russia and
Syria signed Russia-Syria Offshore Gas Deal which is aimed for exploration
and production of natural gas in Syrian Coast. The abovementioned
favorable trends in natural gas industry of Russia is expected to open new
markets.
- Utility is projected to account for 9.6% of
global volume share by the end of 2025 as a result of increasing power
demand amid the inclusion of new HVAC and heavy load machinery in
manufacturing sector
- North America is expected to account for 71.4%
of global revenue by the end of 2025. The increasing number of new solar
PV microgrids for utility in Northeast and West regions of the U.S. is
expected to have a positive impact.
- Key vendors include Siemens AG, Exelon, GE,
Lockheed Martin Corporation, Lockheed Martin Corporation, ABB Group, Power
Analytics, Toshiba Corporation, Honeywell International Inc, ZBB Energy
Corporation, Echelon Corporation and Schneider Electric. In November 2016,
Exelon launched five new microgrids at USD 250 million through the
assistance with Anarbic. This launch is anticipated to play a crucial role
in increasing the market share of Exelon in global industry over the next
eight years.
Browse more
reports of this category by Grand View Research: http://www.grandviewresearch.com/industry/construction-and-utilities
About Grand
View Research:
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco.
The company provides syndicated research reports, customized research
reports, and consulting services. To help clients make informed business
decisions, we offer market intelligence studies ensuring relevant and
fact-based research across a range of industries, from technology to chemicals,
materials and healthcare.
No comments:
Post a Comment