Learn about the global microgrid market through The Business Research Company, which provides information on microgrid market size, microgrid market drivers and restraints, microgrid market players, the COVID-19 impact on the microgrid market, and more.

The global microgrid market size is expected to grow from $9.63 billion in 2021 to $11.9 billion in 2022 at a compound annual growth rate (CAGR) of 23.6%. The global microgrids market size is expected to grow to $25.04 billion in 2026 at a CAGR of 20.4%.

The growing adoption of microgrids for rural electrification is expected to propel the growth of the microgrid market going forward.

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The microgrid market consists of sales of microgrids by entities (organizations, sole proprietors, partnerships) that refer to a local energy grid with control capability, which means it can disconnect from the traditional grid and operate autonomously. A microgrid is a self-contained energy system that serves a specific geographic area, such as a college campus, hospital, business center, or neighbourhood. Microgrids can strengthen grid resilience and help mitigate grid disturbances by operating while the main grid is down, as well as serve as a grid resource for faster system response and recovery.

Global Microgrid Market Segments Include:

By Type: AC Microgrids, DC Microgrids, Hybrid Microgrids

By Connectivity: Grid Connected, Off-Grid Connected

By Component: Hardware, Software, Services

By Application: Remote Systems, Institutional Buildings, Commercial Utility

By End-User: Commercial and Industrial, Institutes and Campuses, Military

By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, North America was the largest region in the microgrid market in 2021.

The development and adoption of green hydrogen microgrids is a key trend gaining popularity in the microgrid market. Green hydrogen is generated by splitting water into hydrogen and oxygen in an electrolyzer using renewable energy sources such as wind and solar. Companies developing microgrids are focused on developing eco-friendly products including green hydrogen microgrids to reduce the carbon footprints in the environment.

TBRC’s Microgrid Market Report Covers:

Major Market Players: ABB Ltd., Eaton Corporation, General Electric, Siemens AG, Schneider Electric SE, Honeywell International Inc., Advanced Microgrid Solutions, Anbaric Transmission, Canopy Power, Exelon Corporation, Ferroamp, General Microgrids, Go Electric, Gram Power, Toshiba Corporation, S&C Electric, Tesla, Caterpillar, Echelon Corporation, Pareto Energy Limited, and Engie Group.

Regions: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.

Countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Time Series: Five years historic (2016-21) and ten years forecast (2022-2026-2031)

The Microgrid Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026 is one of a series of new reports from The Business Research Company that provides microgrid market overviews, analyzes and forecasts market size, share, microgrid market players, microgrid market segments and geographies, leading competitor revenues, profiles and market shares.

TBRC’s microgrid market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.

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