According to a new report published by Allied Market Research, titled, “Microgrid Market by Connectivity, Type, and End Use: Global Opportunity Analysis and Industry Forecast, 2021–2030,” the microgrid market size was valued at $15.88 billion in 2020, and is projected to reach at $59.74 billion by 2030, growing at a CAGR of 14.9% from 2021 to 2030.
The microgrid market share is analyzed on the basis of connectivity, type, end user, and region. By connectivity, the market is divided into grid connected and off-grid connected. By type, it is classified into AC microgrids, DC microgrids and hybrid. By end user, it is categorized into commercial & industrial, government, healthcare, remote, utility and others. Finally, by region, the market is evaluated across Europe, LAMEA, Asia-Pacific, and North America. The province across North America is broken down into the United States, Mexico, and Canada. Europe indexes countries such as the United Kingdom, Italy, France, Spain, Germany, and rest of Europe. Concurrently, Asia-Pacific consists of countries such as South Korea, India, Japan, China, and rest of Asia-Pacific. Finally, LAMEA is classified into Africa, the Middle East, and Latin America.
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Major Impacting Factors: Analysis of the Market Scenario, Current Trends, and Drivers
The factors that are projected to boost/impede the demand for Microgrid Market are evaluated in the study. Additionally, the Covid-19 impact on the growth of the market has also been thoroughly explained. Last but not the least; the potential factors that are expected to offer lucrative opportunities for the market players and are projected to play a pivotal role in the market development are discussed throughout the study.
Covid-19 Impact Analysis
The outbreak of the pandemic has significantly affected the majority industry verticals across the world. The report has covered the overall impact of COVID-19 on the Microgrid Market, providing a detailed study of the scenario. It further doles out the significant market slants & tactics incorporated by the frontrunners throughout the pandemic. Additionally, the report sums up how COVID-19 has taken hold of the supply chain. The Microgrid Market also presents how the roll-out of mass vaccination has become highly favorable to the Microgrid Market. Lastly, the post Covid-19 scenario is also detailed out in the report.
The Main Points Covered in the Microgrid Market
- The Microgrid Market study offers a wide-ranging study with regard to the major industry participants.
- Porter’s five forces analysis aids in defining the potential suppliers & buyers and the viable picture of the shareholders for strategy development.
- A lot of developing as well as developed countries have been outlined in line with their individual revenue support to the regional market.
- The report, finally, focuses on the recent market trends of the global Microgrid Market to get into the dominant opportunities and prospective investment pockets.
- The major drivers, restraints, and opportunities and their thorough impact study are also included in the report.
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Major market players
The report includes a detailed analysis of top players in the Microgrid Market including ABB, General Electric, Siemens, Eaton Corporation, Honeywell, Schneider Electric, S&C Electric, Spirae Inc., Exelon Corporation, and Pareto Energy.
The competitive analysis of these companies offers a detailed business overview, portfolio analysis of services and products. These companies have adopted various strategies such as partnership, joint ventures, new product launches, mergers & acquisitions, and collaboration to maintain a foothold in the market and help stakeholders understand the market.
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