Title: Global Microgrid Market Share, Size, Growth Trends And Forecast 2017-2022
1 Global Microgrid Market to Reach US 30 Billion
by 2022
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3Report Description and Highlights
Report Description
Global Microgrid Market to Reach US 30 Billion
by 2022 The global microgrid market has
witnessed a steady growth over the past few
years. The increasing adoption of microgrids can
be accredited to the rising usage of renewable
sources, rapidly growing industrialization and
requirement of enhanced technologies for power
generation and distribution. The latest report
by IMARC Group, titled Microgrid Market Global
Industry Trends, Share, Size, Growth, Opportunity
and Forecast 2017-2022, finds that the global
microgrid market reached a value of US 15.3
Billion in 2016. Microgrids are integrated energy
systems used to generate, distribute and regulate
the flow of electrical power. They have the
ability to store energy locally either in
parallel or in isolation from the electric grids.
Microgrids can be used to generate energy from
both the renewable and the non-renewable sources.
In addition, they also help in increasing the
efficiency of the electric delivery system by
reducing energy losses in transmission and
distribution. On account of this, these systems
are installed to increase the reliability of
power distribution, reduce costs and encourage
economic growth. Request Sample of the Report
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4Report Description and Highlights
Report Description
5Report Description and Highlights
Report Description
- Highlights of the global microgrid market
- The increasing usage of renewable sources is the
key factor driving the growth of the market. - Remote systems account for the majority of the
total market share. - North America dominates the market, holding the
majority of the global share. - Microgrids can be used as a composition of
multiple energy generation sources, such as
solar, wind, biomass, geothermal, and fossil
fuel, to generate and supply electricity to a
local community, university, or a military base.
This is anticipated to be the major driver of the
microgrid market. Additionally, the lack of
access to reliable grid electricity due to low
electrification in the rural areas is another
factor boosting the demand for microgrids.
Moreover, increased need to strengthen energy
security, rapidly increasing industrialization,
requirement of enhanced technologies for power
generation and distribution, and infrastructure
development are some of the other factors
facilitating the market growth. According to the
report, the global microgrid market is further
expected to reach a value of more than US 30
Billion by 2022, exhibiting a CAGR of nearly 12
during 2017-2022. - Read full report _at_ http//www.imarcgroup.com/micro
grid-market
6Report Description and Highlights
Report Description
- The market is segmented on the basis of energy
source into natural gas, combined heat and power,
Solar Photovoltaic (PV), and diesel. On the basis
of application, the market is segregated into
remote systems, institutional and campus,
utility/community, defense and others, wherein
remote systems account for the largest share.
Region-wise, North America currently represents
the leading market globally. Other major regions
include Asia Pacific, Europe, Middle East and
Africa, and Latin America. On evaluating the
competitive landscape of the market, it is found
that the key players are Lockheed Martin, ABB
Ltd., General Electric, Eaton Corporation and
Siemens. - The report by IMARC Group has examined the
global microgrid market on the basis of - Energy Source
- Natural Gas
- Combined Heat and Power
- Solar Photovoltaic (PV)
- Diesel
- Fuel Cell
- Application
- Remote Systems
7Report Description and Highlights
Report Description
- Institution and Campus
- Utility/Community
- Defense
- Others
- Region
- North America
- Asia Pacific
- Europe
- Middle East and Africa
- Latin America
- Key Players
- Lockheed Martin
- ABB Ltd
- General Electric
- Eaton Corporation
- Siemens
- Find more reports related to food beverages
Industry_at_ http//www.imarcgroup.com/categories/ene
rgy-market-reports
8Report Description and Highlights
Report Description
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