(EMAILWIRE.COM, March 20, 2019 ) Microgrid is a localized power system comprised of distributed generation assets, energy storage devices, and smart distribution technologies that interoperates through controls and software-based intelligence systems.
Microgrid is among the most promising tools of modern distribution networks due to their versatility. Once fully customized to the electricity and heating needs of a specific end user, they can simultaneously deliver enhanced reliability, energy and cost efficiency as well as environmental benefits. Microgrid for critical infrastructure (schools, hospitals, universities, wastewater treatment plants, etc.), mainly in cities and small communities, will grow fastest by project number within the next five years, driven by CHP incentives and State resiliency programs along the East Coast, while military Microgrid will add significant additional capacity to the current microgrid landscape.
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North America is currently the largest microgrid market, having captured nearly half of all vendor revenue activity. The region holds a nearly identical market share (48.59%) compared with data presented in 2016.
ABB, GE and Echelon captured the top three revenue share spots in the Microgrid market in 2016. ABB dominated with 7.53 percent revenue share, followed by GE with 5.64 percent revenue share and Echelon with 5.03 percent revenue share.
The second place is Asia regions; following North America with the Revenue market share over 27.83% in 2016. Europe is another important consumption market of Microgrid Technology.
Microgrid Technology used in industry including Campus/Institutional Microgrid, Community/Utility Microgrid, Commercial/Industrial Microgrid, Military Microgrid and Remote Microgrid. Report data showed that 41.79% of the Microgrid Technology market demand in Campus/Institutional Microgrid, 24.24% in Commercial/Industrial Microgrid, and 21.28% in Community/Utility Microgrid in 2016.
There are two kinds of Microgrid Technology, which are Grid-Tied Type Microgrid and Independent Type Microgrid. Grid-Tied Type Microgrid is important in the Microgrid Technology, with a Installed Capacity market share nearly 78.30% in 2016.
Briefly speaking, in the next few years, Microgrid Technology industry will still be a rapid development industry. Sales of Microgrid Technology have brought a lot of opportunities, there will more companies enter into this industry, especially in developing countries.
Over the next five years, it is projected that Microgrid Technology will register a 14.2% CAGR in terms of revenue, reach US$ 25300 million by 2023, from US$ 11400 million in 2017.
To calculate the market size, it is considered value and volume generated from the sales of the following segments:
Segmentation by product type:
Grid-Tied Type Microgrid
Independent Type Microgrid
Segmentation by application:
The report also presents the market competition landscape and a corresponding detailed analysis of the major vendor/manufacturers in the market. The key manufacturers covered in this report:
S&C Electric Co
Green Energy Corp
Growing Energy Labs Inc
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Table of Contents:
1 Scope of the Report
2 Executive Summary
3 Global Microgrid Technology by Players
4 Microgrid Technology by Regions
8 Middle East & Africa
9 Market Drivers, Challenges and Trends
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