マイクログリッド市場:接続性(系統連系、オフグリッド)、提供(発電機、コントローラ、エネルギー貯蔵、ソフトウェア、サービス)、エンドユーザー(商業・産業、軍事、公益事業)、タイプ、電力定格、地域別 - 2027年までの世界予測Microgrid Market by Connectivity (Grid-connected, Off-grid), Offering (Power Generators, Controllers, Energy Storage, Software, Services), End User (Commercial & Industrial, Military, Utilities), Type, Power Rating & Geography - Global Forecast to 2027 マイクログリッドの世界市場規模は、2022年に269億米ドルと推定され、2027年には予測期間中にCAGR18.6%で632億米ドルに達すると予測されています。マイクログリッド市場の成長に寄与する主な要因としては、さまざ... もっと見る
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サマリーマイクログリッドの世界市場規模は、2022年に269億米ドルと推定され、2027年には予測期間中にCAGR18.6%で632億米ドルに達すると予測されています。マイクログリッド市場の成長に寄与する主な要因としては、さまざまな産業におけるマイクログリッドプロジェクトの増加、アジア太平洋地域におけるエネルギー需要の急増と再生可能エネルギーの採用、コストを最小限に抑えるためのEaaSビジネスモデルに対する投資家の関心の高まり、マイクログリッドプロジェクト開発に対する政府からの奨励の高まりなどがあります。「グリッド接続型マイクログリッドは、電力会社ベースのグリッドネットワークの拡大と再生可能エネルギーの利用により、より大きなシェアを占めている。 グリッドコネクテッドセグメントは、最大の市場シェアを占めそうで、予測期間中に最高のCAGRで成長すると予想される。グリッド接続型マイクログリッドは、共通結合点(PCC)でスイッチング機構を利用して電力会社のグリッドに物理的に接続されますが、アイランドモードに切り離して、必要なときにメイングリッドに再接続することも可能です。系統連系型マイクログリッドは、複数の発電機、配電システム、高度な制御装置を備えています。さらに、これらの技術は、グリッドの信頼性を高めるだけでなく、グリッドの回復力を高め、電力品質を向上させ、その環境影響を低減させます。その結果、需要が増加することになります。 "マイクログリッド・ソフトウェア市場は、2022年から2027年にかけて高い成長を遂げる可能性が高い" マイクログリッド・ソフトウェア市場は、予測期間中に最も高い成長率を記録すると予測されています。遠隔地に設置されたマイクログリッドで使用されるソフトウェアにより、マイクログリッドの運営者は、天候や負荷の予測を統合した分散型エネルギーリソースを動的に管理・制御することができます。マイクログリッドで使用されるホスト型ソフトウェアサービスにより、ITインフラをオンサイトでホスティングする必要がなくなります。このことが、近い将来、マイクログリッド・ソフトウェア市場の成長を促進するものと期待されています。 "マイクログリッド用発電機ハードウェア部門は、2022年から2027年にかけて最高の市場シェアを目撃する可能性が高い" 発電機セグメントは、2021年のマイクログリッド・ハードウェア市場で最大の規模を占め、予測期間中、マイクログリッド・ハードウェア・セグメントを支配すると予測されています。PVセル、風力タービン、水力タービンなどの再生可能エネルギー源を発電に利用することは、マイクログリッド・ハードウェア市場の世界的な成長に寄与する顕著な要因の1つである。また、再生可能エネルギーをマイクログリッドに統合することで、温室効果ガスの排出量を削減し、地域燃料や輸入燃料への依存度を下げることができます。 2022年~2027年の予測期間では、米州が最大市場である可能性が高い。 米州のマイクログリッド市場は、北米と南米で調査されています。2021年のアメリカ大陸のマイクログリッド市場全体では、北米が~70%のシェアを占めている。米国やカナダなどの国々は、マイクログリッドの確立を強化するために多くの政策を策定している。米国は、米州のマイクログリッド市場をリードしている。米国とカナダの政府は、分散型送電網を拡大するための資金調達プログラムや投資をいくつか開始しており、これがこれらの国におけるマイクログリッドの導入と開発を支えています。また、発電用の再生可能エネルギー源の増加や、発電に複数の電源を使用できるというマイクログリッドの柔軟性も、同地域のマイクログリッド市場の成長を後押ししています。 マイクログリッド市場で事業を展開する主要組織のCEO、マーケティング・ディレクター、イノベーション・テクノロジー・ディレクターなど、さまざまなエグゼクティブに詳細なインタビューを実施しました。 - 企業タイプ別ティア1=50%、ティア2=30%、ティア3=20 - 役職別Cレベルエグゼクティブ=35%、ディレクター=30%、その他(セールス、マーケティング、プロダクトマネージャー、各組織のメンバー)=35 - 地域別米州=40%、欧州=25%、APAC=20%、ROW=15 Schneider Electric(フランス)、General Electric(米国)、Siemens(ドイツ)、Eaton Corporation(米国)、ABB(スイス)、日立エネルギー(スイス)、Honeywell International Inc(米国)、HOMER Energy(米国)、S&C Electric(米国)、Power Analytics(米国)がマイクログリッド市場のキープレイヤーである。これらのトッププレーヤーは、製品やサービスの強力なポートフォリオを持ち、成熟市場と新興市場の両方において存在感を示しています。 本調査では、マイクログリッド市場におけるこれらの主要企業の企業概要、最近の開発状況、主要な市場戦略など、詳細な競合分析を行っています。 調査対象範囲 本レポートでは、接続性(グリッド接続、オフグリッド接続)、提供(ハードウェア、ソフトウェア、サービス)、タイプ(ACマイクログリッド、DCマイクログリッド、ハイブリッド)、パターン(都市/大都市、半都市、農村/島嶼)、電源(天然ガス、太陽光発電、熱電併給、ディーゼル、燃料電池、その他)、電力定格(1MW未満、1MW未満、燃料電池など)に基づいたマイクログリッド市場の詳細情報をお届けしています。など)、電力定格(1MW未満、1MW〜5MW、5MW〜10MW、10MW以上)、エンドユーザー(商業・工業、遠隔地、研究所・キャンパス、政府、公益事業、軍事、医療)、地域(アメリカ、ヨーロッパ、アジア太平洋(APAC)、中東・アフリカ(MEA)を含むRoW(世界の残りの地域)、アフリカなど。 また、マイクログリッド市場の促進要因、阻害要因、機会、課題についても包括的にレビューしています。また、これらの市場の定量的側面に加え、定性的側面もカバーしています。 レポート購入の主なメリット 本レポートは、この市場のリーダー/新規参入者に、市場全体とサブセグメントの収益数値の最も近い近似値に関する情報を提供するのに役立ちます。本レポートは、利害関係者が競争環境を理解し、より良いビジネスの位置づけと適切な市場参入戦略を計画するためのより多くの洞察を得るのに役立ちます。また、本レポートは、関係者がマイクログリッド市場の鼓動を理解し、主要な市場促進要因、阻害要因、課題、機会に関する情報を提供するのに役立ちます。 目次1 INTRODUCTION 231.1 STUDY OBJECTIVES 23 1.2 DEFINITION AND SCOPE 23 1.2.1 INCLUSIONS AND EXCLUSIONS: OFFERING SEGMENT 24 1.2.2 INCLUSIONS AND EXCLUSIONS: OTHER SEGMENTS 24 1.3 STUDY SCOPE 25 1.3.1 MARKETS COVERED 25 FIGURE 1 MARKET SEGMENTATION 25 1.3.2 REGIONAL SCOPE 25 1.3.3 YEARS CONSIDERED 26 1.4 CURRENCY 26 1.5 UNIT CONSIDERED 26 1.6 LIMITATIONS 26 1.7 STAKEHOLDERS 26 1.8 SUMMARY OF CHANGES 27 2 RESEARCH METHODOLOGY 28 2.1 RESEARCH DATA 28 FIGURE 2 MICROGRID MARKET: RESEARCH DESIGN 28 2.1.1 SECONDARY DATA 29 2.1.1.1 Major secondary sources 29 2.1.1.2 Key data from secondary sources 30 2.1.2 PRIMARY DATA 30 2.1.2.1 Primary interviews with experts 30 2.1.2.2 List of key primary interview participants 31 2.1.2.3 Breakdown of primaries 31 2.1.2.4 Key data from primary sources 32 2.1.3 SECONDARY AND PRIMARY RESEARCH 33 2.1.3.1 Key industry insights 33 2.2 MARKET SIZE ESTIMATION 34 2.2.1 BOTTOM-UP APPROACH 34 2.2.1.1 Approach used to arrive at market size using bottom-up analysis 34 FIGURE 3 MARKET SIZE ESTIMATION METHODOLOGY: BOTTOM-UP APPROACH 34 2.2.1.2 Approach for obtaining company-specific information in microgrid value chain 35 2.2.2 TOP-DOWN APPROACH 35 2.2.2.1 Approach used to arrive at market size using top-down analysis 35 FIGURE 4 MARKET SIZE ESTIMATION METHODOLOGY: TOP-DOWN APPROACH 35 2.3 FACTOR ANALYSIS 36 2.3.1 MICROGRID MARKET: SUPPLY-SIDE ANALYSIS 36 FIGURE 5 MARKET SIZE ESTIMATION METHODOLOGY: (SUPPLY SIDE): REVENUE GENERATED FROM SALES OF MICROGRIDS 36 FIGURE 6 MARKET SIZE ESTIMATION METHODOLOGY: (SUPPLY SIDE): REVENUE FROM MICROGRID HARDWARE, SOFTWARE, AND SERVICES 37 2.3.2 MICROGRID MARKET: DEMAND-SIDE ANALYSIS 38 FIGURE 7 MARKET SIZE ESTIMATION METHODOLOGY: (DEMAND SIDE): BOTTOM-UP APPROACH FOR ESTIMATION OF SIZE OF MICROGRID MARKET BASED ON REGION 38 FIGURE 8 MARKET SIZE ESTIMATION METHODOLOGY: DEMAND-SIDE ANALYSIS (COUNTRY LEVEL) 39 2.3.3 GROWTH FORECAST ASSUMPTIONS 40 TABLE 1 MICROGRID MARKET: KEY FORECASTING ASSUMPTIONS 40 2.4 DATA TRIANGULATION 41 FIGURE 9 DATA TRIANGULATION METHODOLOGY 41 2.5 ASSUMPTIONS 42 TABLE 2 KEY ASSUMPTIONS: MACRO- AND MICRO-ECONOMIC ENVIRONMENT 42 2.6 RISK ASSESSMENT 43 TABLE 3 RISK ASSESSMENT: MICROGRID MARKET 43 3 EXECUTIVE SUMMARY 44 3.1 REALISTIC SCENARIO (POST-COVID-19) 44 3.2 OPTIMISTIC SCENARIO (POST-COVID-19) 45 3.3 PESSIMISTIC SCENARIO (POST-COVID-19) 45 FIGURE 10 MICROGRID MARKET: OPTIMISTIC, REALISTIC, AND PESSIMISTIC SCENARIO ANALYSIS, 2018–2027 (USD BILLION) 45 FIGURE 11 MICROGRID MARKET FOR GRID-CONNECTED SEGMENT TO RECORD HIGHER GROWTH RATE DURING FORECAST PERIOD 46 FIGURE 12 HARDWARE SEGMENT TO ACCOUNT FOR LARGEST MARKET SHARE OF MICROGRID MARKET DURING FORECASTING PERIOD 46 FIGURE 13 CONTROLLERS TO RECORD HIGHEST CAGR IN MICROGRID HARDWARE MARKET FROM 2022 TO 2027 47 FIGURE 14 MICROGRID MARKET FOR COMMERCIAL & INDUSTRIAL END USER TO HOLD LARGEST SHARE IN 2027 48 FIGURE 15 MICROGRIDS WITH POWER RATINGS BETWEEN 1 MW TO 5 MW HOLD LARGEST MARKET SHARE 48 FIGURE 16 MICROGRID MARKET IN ASIA PACIFIC TO RECORD HIGHEST CAGR DURING FORECAST PERIOD 49 4 PREMIUM INSIGHTS 50 4.1 ATTRACTIVE GROWTH OPPORTUNITIES IN MICROGRID MARKET 50 FIGURE 17 INCREASING DEMAND FOR UNINTERRUPTED AND RELIABLE POWER SUPPLY DRIVING MICROGRID MARKET 50 4.2 MICROGRID MARKET, BY OFFERING 50 FIGURE 18 HARDWARE TO HOLD LARGEST SHARE OF MICROGRID MARKET IN 2022 AND 2027 50 4.3 MICROGRID MARKET, BY HARDWARE TYPE 51 FIGURE 19 POWER GENERATORS TO ACCOUNT FOR LARGEST SIZE OF MICROGRID HARDWARE MARKET FROM 2022 TO 2027 51 4.4 MICROGRID MARKET, BY CONNECTIVITY 51 FIGURE 20 GRID-CONNECTED MICROGRIDS TO ACCOUNT FOR LARGER SHARE OF MARKET FROM 2022 TO 2027 51 4.5 MICROGRID MARKET, BY POWER RATING 52 FIGURE 21 MICROGRIDS WITH POWER RATINGS FROM 1 MW TO 5 MW ARE LIKELY TO ACCOUNT FOR LARGEST MARKET SIZE FROM 2022 TO 2027 52 4.6 MICROGRID MARKET, BY END USER 52 FIGURE 22 COMMERCIAL & INDUSTRIAL TO ACCOUNT FOR LARGEST SIZE OF MICROGRID MARKET FROM 2022 TO 2027 52 5 MARKET OVERVIEW 53 5.1 INTRODUCTION 53 5.2 MARKET DYNAMICS 53 FIGURE 23 MICROGRID MARKET: DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES 53 5.2.1 DRIVERS 54 5.2.1.1 Increasing emphasis on decarbonization by end users and governments 54 FIGURE 24 GLOBAL SOLAR PV AND WIND INSTALLATIONS, 2018–2027 IN GIGAWATTS (GW) 55 FIGURE 25 GLOBAL INVESTMENTS IN CLEAN ENERGY AND ENERGY EFFICIENCY, 2018–2021 55 5.2.1.2 Growing need for reliable, uninterrupted power supply 55 5.2.1.3 Surging use of microgrids for rural electrification 56 5.2.1.4 Rising instances of cyberattacks on energy infrastructure 56 FIGURE 26 DRIVERS AND THEIR IMPACT ON MICROGRID MARKET 57 5.2.2 RESTRAINTS 57 5.2.2.1 Huge installation and maintenance costs of microgrids 57 FIGURE 27 RESTRAINTS AND THEIR IMPACT ON MICROGRID MARKET 58 5.2.3 OPPORTUNITIES 58 5.2.3.1 Increasing number of microgrid projects across different industries 58 5.2.3.2 Surging energy demand and adoption of renewable energy in Asia Pacific 59 5.2.3.3 Growing interest of investors in EaaS business model to minimize costs 59 TABLE 4 BUSINESS MODEL OF COMPANIES IN MICROGRID ECOSYSTEM 60 5.2.3.4 Rising encouragement from governments for developing microgrid projects 60 FIGURE 28 OPPORTUNITIES AND THEIR IMPACT ON MICROGRID MARKET 61 5.2.4 CHALLENGES 61 5.2.4.1 Lack of standardization and regulatory frameworks related to microgrid operations 61 5.2.4.2 Technical challenges of microgrids operating in island mode 61 FIGURE 29 CHALLENGES AND THEIR IMPACT ON MICROGRID MARKET 62 5.3 VALUE CHAIN ANALYSIS 62 FIGURE 30 MICROGRID MARKET: VALUE CHAIN ANALYSIS 62 5.4 MICROGRID MARKET ECOSYSTEM 63 TABLE 5 MICROGRID MARKET: ECOSYSTEM 64 FIGURE 31 KEY PLAYERS IN MICROGRID MARKET ECOSYSTEM 65 5.5 PRICING ANALYSIS 66 FIGURE 32 AVERAGE MICROGRID COST, BY END USER AND PROJECT SIZE 66 TABLE 6 AVERAGE COST OF MICROGRID PROJECTS FOR TOP 3 APPLICATIONS (USD MILLION/MW) 66 5.5.1 ANALYSIS AND TREND OF AVERAGE MICROGRID COST 67 FIGURE 33 MICROGRID MARKET: AVERAGE COST OF MICROGRID PROJECTS 67 5.6 TRENDS/DISRUPTIONS IMPACTING CUSTOMER’S BUSINESS 67 FIGURE 34 REVENUE SHIFT FOR MICROGRID MARKET 67 5.7 KEY TECHNOLOGY TRENDS 68 5.7.1 BLOCKCHAIN-BASED MICROGRIDS/BLOCKCHAIN MICROGRIDS 68 5.7.2 SMART MICROGRIDS 68 5.7.3 ADVENT OF AI-BASED MICROGRIDS 68 5.8 PORTER'S FIVE FORCES ANALYSIS 69 FIGURE 35 MICROGRID MARKET: PORTER’S FIVE FORCES ANALYSIS 69 FIGURE 36 IMPACT OF PORTER’S FIVE FORCES ON MICROGRID MARKET 69 TABLE 7 IMPACT OF PORTER’S 5 FORCES ON MICROGRID MARKET 70 5.8.1 THREAT OF NEW ENTRANTS 70 5.8.2 THREAT OF SUBSTITUTES 70 5.8.3 BARGAINING POWER OF SUPPLIERS 70 5.8.4 BARGAINING POWER OF BUYERS 71 5.8.5 INTENSITY OF COMPETITIVE RIVALRY 71 5.9 KEY STAKEHOLDERS & BUYING CRITERIA 71 5.9.1 KEY STAKEHOLDERS IN BUYING PROCESS 71 FIGURE 37 INFLUENCE OF STAKEHOLDERS IN BUYING PROCESS FOR TOP 3 END USERS 71 TABLE 8 INFLUENCE OF STAKEHOLDERS IN BUYING PROCESS FOR TOP 3 END USERS (%) 72 5.9.2 BUYING CRITERIA 72 FIGURE 38 KEY BUYING CRITERIA FOR TOP 3 END USERS 72 TABLE 9 KEY BUYING CRITERIA FOR TOP 3 END USERS 72 5.10 CASE STUDIES: MICROGRID MARKET 73 5.10.1 GE PROVIDED CAMPUS-BASED MICROGRID SYSTEM TO UNIVERSITY OF ONTARIO INSTITUTE OF TECHNOLOGY (CANADA) 73 TABLE 10 GE INSTALLED BATTERY ENERGY STORAGE SYSTEM FOR UNIVERSITY OF ONTARIO INSTITUTE OF TECHNOLOGY CAMPUS 73 5.10.2 GE PROVIDED SYSTEMS OFFERING RESILIENT, RELIABLE POWER FOR NAVY SHIPYARD PROJECT IN PHILADELPHIA (US) 73 TABLE 11 GE: MICROGRID ENERGY MANAGEMENT SYSTEM FOR NAVY SHIPYARD PROJECT IN PHILADELPHIA 73 5.10.3 SOLAR ONE ENERGY USED HOMER GRID TO MODEL ENERGY COSTS FOR ACE NATURAL 74 TABLE 12 HOMER ENERGY PROVIDED HOMER GRID SOFTWARE FOR SOLAR ONE ENERGY 74 5.10.4 S&C ELECTRIC SUPPLIED SERVICES FOR HALF MOON VENTURES’ PROJECT 74 TABLE 13 S&C ELECTRIC COMPANY PROVIDED ENERGY STORAGE FOR MICROGRID PROJECT BY HALF MOON VENTURES IN WESTERN OHIO, US 74 5.10.5 ERGON ENERGY PARTNERED WITH S&C ELECTRIC COMPANY 75 TABLE 14 S&C ELECTRIC PROVIDED ENERGY STORAGE SYSTEMS FOR MICROGRIDS OF ERGON ENERGY 75 5.11 TRADE ANALYSIS 76 TABLE 15 IMPORT DATA FOR ELECTRIC MOTORS AND GENERATORS (EXCLUDING GENERATING SETS), HS CODE: 8501 (USD MILLION) 76 FIGURE 39 ELECTRIC MOTORS AND GENERATORS (EXCLUDING GENERATING SETS), IMPORT VALUES FOR MAJOR COUNTRIES, 2017–2021 76 TABLE 16 EXPORT DATA FOR ELECTRIC MOTORS AND GENERATORS (EXCLUDING GENERATING SETS), HS CODE: 8501 (USD MILLION) 77 FIGURE 40 ELECTRIC MOTORS AND GENERATORS (EXCLUDING GENERATING SETS), EXPORT VALUES FOR MAJOR COUNTRIES, 2017–2021 77 TABLE 17 IMPORT DATA FOR ELECTRONIC-INTEGRATED CIRCUITS AS PROCESSORS AND CONTROLLERS, HS CODE: 854231 (USD MILLION) 78 FIGURE 41 ELECTRONIC-INTEGRATED CIRCUITS AS PROCESSORS AND CONTROLLERS, IMPORT VALUES FOR MAJOR COUNTRIES, 2017–2021 78 TABLE 18 EXPORT DATA FOR ELECTRONIC-INTEGRATED CIRCUITS AS PROCESSORS AND CONTROLLERS, HS CODE: 854231 (USD MILLION) 79 FIGURE 42 ELECTRONIC-INTEGRATED CIRCUITS AS PROCESSORS AND CONTROLLERS, EXPORT VALUES FOR MAJOR COUNTRIES, 2017–2021 79 5.12 PATENT ANALYSIS 80 FIGURE 43 NUMBER OF PATENTS GRANTED IN MICROGRID MARKET, 2011–2021 80 FIGURE 44 REGIONAL ANALYSIS OF PATENTS GRANTED FOR MICROGRIDS, 2011–2021 81 TABLE 19 LIST OF KEY PATENTS IN MICROGRID MARKET, 2020–2022 81 5.13 KEY CONFERENCES AND EVENTS IN 2022–2024 83 TABLE 20 MICROGRID MARKET: DETAILED LIST OF CONFERENCES AND EVENTS 83 5.14 TARIFFS AND REGULATORY LANDSCAPE 87 5.14.1 REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 87 TABLE 21 LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 87 5.14.2 CODES AND STANDARDS RELATED TO MICROGRIDS 89 TABLE 22 CODES AND STANDARDS RELATED TO MICROGRIDS 89 6 MICROGRID MARKET, BY CONNECTIVITY 90 6.1 INTRODUCTION 91 FIGURE 45 MICROGRID MARKET, BY CONNECTIVITY 91 TABLE 23 MICROGRID MARKET, BY CONNECTIVITY, 2018–2021 (USD BILLION) 91 FIGURE 46 GRID-CONNECTED MICROGRIDS TO RECORD HIGHER GROWTH RATE DURING FORECAST PERIOD 92 TABLE 24 MICROGRID MARKET, BY CONNECTIVITY, 2022–2027 (USD BILLION) 92 6.2 GRID-CONNECTED 93 6.2.1 GRID-CONNECTED MICROGRIDS ACCOUNTED FOR LARGER SHARE DUE TO EXPANSION OF UTILITY-BASED GRID NETWORKS AND USE OF RENEWABLE SOURCES 93 TABLE 25 GRID-CONNECTED MICROGRID MARKET, BY REGION, 2018–2021 (USD BILLION) 93 FIGURE 47 ASIA PACIFIC TO RECORD HIGHEST GROWTH RATE IN GRID-CONNECTED MICROGRID MARKET DURING FORECAST PERIOD 94 TABLE 26 GRID-CONNECTED MICROGRID MARKET, BY REGION, 2022–2027 (USD BILLION) 94 6.3 OFF-GRID 95 6.3.1 GROWING OFF-GRID SOLAR PROJECTS TO CREATE NEW MARKET OPPORTUNITIES IN COMING YEARS 95 TABLE 27 OFF-GRID MICROGRID MARKET, BY REGION, 2018–2021 (USD BILLION) 95 FIGURE 48 AMERICAS HOLDS LARGEST MARKET SIZE IN OFF-GRID MICROGRID MARKET IN 2022 96 TABLE 28 OFF-GRID MICROGRID MARKET, BY REGION, 2022–2027 (USD BILLION) 96 7 MICROGRID MARKET, BY OFFERING 97 7.1 INTRODUCTION 98 FIGURE 49 MICROGRID MARKET, BY OFFERING 98 TABLE 29 MICROGRID MARKET, BY OFFERING, 2018–2021 (USD BILLION) 98 FIGURE 50 SOFTWARE TO RECORD HIGHEST GROWTH RATE DURING FORECAST PERIOD 99 TABLE 30 MICROGRID MARKET, BY OFFERING, 2022–2027 (USD BILLION) 99 TABLE 31 MICROGRID HARDWARE MARKET, BY TYPE, 2018–2021 (USD BILLION) 99 TABLE 32 MICROGRID HARDWARE MARKET, BY TYPE, 2022–2027 (USD BILLION) 100 7.2 HARDWARE 100 FIGURE 51 MICROGRID HARDWARE MARKET, BY TYPE 100 TABLE 33 MICROGRID HARDWARE MARKET, BY REGION, 2018–2021 (USD BILLION) 101 FIGURE 52 MICROGRID HARDWARE MARKET IN ASIA PACIFIC TO RECORD HIGHEST GROWTH RATE DURING FORECAST PERIOD 101 TABLE 34 MICROGRID HARDWARE MARKET, BY REGION, 2022–2027 (USD BILLION) 101 7.2.1 POWER GENERATORS 102 7.2.1.1 Power generators to account for largest share of microgrid hardware market during forecast period 102 TABLE 35 MICROGRID HARDWARE MARKET FOR POWER GENERATORS, BY REGION, 2018–2021 (USD BILLION) 103 TABLE 36 MICROGRID HARDWARE MARKET FOR POWER GENERATORS, BY REGION, 2022–2027 (USD BILLION) 103 7.2.2 ENERGY STORAGE SYSTEMS 103 7.2.2.1 Growing need for energy storage systems to optimize power delivery 103 TABLE 37 MICROGRID HARDWARE MARKET FOR ENERGY STORAGE SYSTEMS, BY REGION, 2018–2021 (USD BILLION) 104 TABLE 38 MICROGRID HARDWARE MARKET FOR ENERGY STORAGE SYSTEMS, BY REGION, 2022–2027 (USD BILLION) 104 7.2.2.2 Lithium-ion batteries 104 7.2.2.3 Flow batteries 105 7.2.2.4 Flywheels 106 7.2.2.5 Others 106 7.2.3 CONTROLLERS 107 7.2.3.1 Controllers are required to monitor and optimally carry out different functions of microgrids 107 TABLE 39 MICROGRID HARDWARE MARKET FOR CONTROLLERS, BY REGION, 2018–2021 (USD BILLION) 108 TABLE 40 MICROGRID HARDWARE MARKET FOR CONTROLLERS, BY REGION, 2022–2027 (USD BILLION) 108 7.3 SOFTWARE 108 7.3.1 USE OF SOFTWARE IN MICROGRID PROJECTS HELPS SIMPLIFY TECHNICAL AND ECONOMIC FACTORS 108 TABLE 41 MICROGRID SOFTWARE MARKET, BY REGION, 2018–2021 (USD BILLION) 109 FIGURE 53 MICROGRID SOFTWARE MARKET IN AMERICAS TO ACCOUNT FOR LARGEST SHARE DURING FORECAST PERIOD 109 TABLE 42 MICROGRID SOFTWARE MARKET, BY REGION, 2022–2027 (USD BILLION) 110 7.4 SERVICES 110 7.4.1 RISING NUMBER OF MICROGRID INSTALLATIONS CREATES NEW OPPORTUNITIES FOR SERVICES 110 TABLE 43 MICROGRID MARKET FOR SERVICES, BY REGION, 2018–2021 (USD BILLION) 111 FIGURE 54 MICROGRID SERVICES MARKET IN ASIA PACIFIC TO RECORD HIGHEST GROWTH RATE DURING FORECAST PERIOD 111 TABLE 44 MICROGRID MARKET FOR SERVICES, BY REGION, 2022–2027 (USD BILLION) 112 8 MICROGRID MARKET, BY POWER SOURCE 113 8.1 INTRODUCTION 113 FIGURE 55 MICROGRID MARKET, BY POWER SOURCE 113 FIGURE 56 GLOBAL MICROGRID PROJECT DEPLOYMENT TREND, BY POWER SOURCE, 2021 VS. 2027 114 8.2 NATURAL GAS 114 8.3 SOLAR PV 115 8.4 COMBINED HEAT AND POWER 115 8.5 DIESEL 116 8.6 FUEL CELL 116 8.7 OTHERS 117 9 MICROGRID MARKET, BY PATTERN 118 9.1 INTRODUCTION 118 9.2 URBAN/METROPOLITAN 118 9.2.1 INCREASING DEVELOPMENT OF MICROGRIDS IN URBAN AREAS BOOSTING MARKET GROWTH 118 FIGURE 57 DRIVERS OF MICROGRID MARKET IN URBAN/METROPOLITAN AREAS 119 9.3 SEMIURBAN 119 9.3.1 GROWING INITIATIVES TO DEVELOP MICROGRIDS FOR SEMIURBAN AREAS IN VARIOUS COUNTRIES DRIVING MARKET 119 9.4 RURAL/ISLAND 120 9.4.1 RISING NUMBER OF ELECTRIFICATION PROJECTS LEADING TO GROWTH OF MICROGRID MARKET 120 10 MICROGRID MARKET, BY TYPE 121 10.1 INTRODUCTION 121 FIGURE 58 MICROGRID MARKET, BY TYPE 121 10.2 AC MICROGRIDS 122 10.2.1 ELIMINATE INVERTER REQUIREMENT FOR POWER SUPPLY TO AC LOADS 122 10.3 DC MICROGRIDS 122 10.3.1 OFFER HIGHER EFFICIENCY, RELIABILITY, AND STABILITY 122 10.4 HYBRID MICROGRIDS 123 10.4.1 USE OF DIFFERENT ENERGY SOURCES FOR POWER GENERATION REDUCES DEPENDENCE ON FOSSIL FUEL 123 11 MICROGRID MARKET, BY POWER RATING 124 11.1 INTRODUCTION 125 FIGURE 59 1 MW TO 5 MW MICROGRID POWER RATING TO HOLD LARGEST MARKET SHARE DURING FORECAST PERIOD 125 TABLE 45 MICROGRID MARKET, BY POWER RATING, 2018–2021 (USD BILLION) 125 TABLE 46 MICROGRID MARKET, BY POWER RATING, 2022–2027 (USD BILLION) 126 11.2 LESS THAN 1 MW 126 11.2.1 REMOTE AREAS, GOVERNMENTS, AND UTILITIES USE MICROGRIDS WITH POWER RATINGS OF LESS THAN 1 MW 126 11.3 1 MW TO 5 MW 126 11.3.1 GROWTH OF MARKET FOR MICROGRID SYSTEMS WITH POWER RATINGS BETWEEN 1 MW AND 5 MW FUELLED BY INCREASING DEPLOYMENT IN COMMERCIAL AND INDUSTRIAL SECTOR 126 11.4 5 MW TO 10 MW 127 11.4.1 MICROGRIDS WITH POWER RATINGS BETWEEN 5 MW TO 10 MW MEET HIGH-POWER REQUIREMENTS IN UNIVERSITIES, SMART CITIES, AND COMMERCIAL APPLICATIONS 127 11.5 ABOVE 10 MW 127 11.5.1 SECTORS WITH HIGH POWER REQUIREMENTS UTILIZE MICROGRID SYSTEMS WITH POWER RATINGS ABOVE 10 MW 127 12 MICROGRID MARKET, BY END USER 128 12.1 INTRODUCTION 129 FIGURE 60 MICROGRID MARKET, BY END USER 129 TABLE 47 MICROGRID MARKET, BY END USER, 2018–2021 (USD BILLION) 130 FIGURE 61 COMMERCIAL & INDUSTRIAL SEGMENT TO RECORD HIGHEST GROWTH RATE DURING FORECAST PERIOD 130 TABLE 48 MICROGRID MARKET, BY END USER, 2022–2027 (USD BILLION) 131 12.2 COMMERCIAL & INDUSTRIAL 131 12.2.1 REQUIREMENT FOR UNINTERRUPTED ELECTRICITY SUPPLY IN COMMERCIAL AND INDUSTRIAL SECTOR TO DRIVE MARKET 131 TABLE 49 MICROGRID MARKET FOR COMMERCIAL & INDUSTRIAL END USER, BY REGION, 2018–2021 (USD BILLION) 132 FIGURE 62 COMMERCIAL & INDUSTRIAL SECTOR IN ASIA PACIFIC TO RECORD HIGHEST GROWTH RATE DURING FORECAST PERIOD 132 TABLE 50 MICROGRID MARKET FOR COMMERCIAL & INDUSTRIAL, BY REGION, 2022–2027 (USD BILLION) 133 12.3 REMOTE AREAS 133 12.3.1 SURGE IN DEPLOYMENT OF MICROGRID PROJECTS IN REMOTE AREAS DUE TO UNAVAILABILITY OF MAIN UTILITY-GRID SYSTEMS FOR ENERGY DISTRIBUTION TO BOOST MARKET 133 TABLE 51 MICROGRID MARKET FOR REMOTE AREAS, BY REGION, 2018–2021 (USD BILLION) 134 FIGURE 63 REMOTE AREAS SEGMENT IN ASIA PACIFIC TO RECORD HIGHEST GROWTH RATE DURING FORECAST PERIOD 134 TABLE 52 MICROGRID MARKET FOR REMOTE AREAS, BY REGION, 2022–2027 (USD BILLION) 134 12.4 MILITARY 135 12.4.1 WIDE USE OF MICROGRIDS FOR ENERGY SECURITY AND RESILIENCY TO PROPEL MARKET GROWTH 135 TABLE 53 MICROGRID MARKET FOR MILITARY, BY REGION, 2018–2021 (USD BILLION) 135 FIGURE 64 MILITARY SEGMENT IN AMERICAS TO ACCOUNT FOR LARGEST SHARE IN 2022 136 TABLE 54 MICROGRID MARKET FOR MILITARY, BY REGION, 2022–2027 (USD BILLION) 136 12.5 GOVERNMENT 137 12.5.1 DECLINE IN PRICES OF ELECTRICITY GENERATED FROM RENEWABLE ENERGY SOURCES LEADS TO RISING ADOPTION OF MICROGRIDS 137 TABLE 55 MICROGRID MARKET FOR GOVERNMENT, BY REGION, 2018–2021 (USD BILLION) 137 TABLE 56 MICROGRID MARKET FOR GOVERNMENT, BY REGION, 2022–2027 (USD BILLION) 137 12.6 UTILITIES 138 12.6.1 MICROGRIDS PROVIDE UTILITIES WITH LESS EXPENSIVE ALTERNATIVE 138 TABLE 57 MICROGRID MARKET FOR UTILITIES, BY REGION, 2018–2021 (USD BILLION) 138 FIGURE 65 UTILITIES SEGMENT IN AMERICAS TO RECORD HIGHEST GROWTH RATE DURING FORECAST PERIOD 139 TABLE 58 MICROGRID MARKET FOR UTILITIES, BY REGION, 2022–2027 (USD BILLION) 139 12.7 INSTITUTES & CAMPUSES 139 12.7.1 INCREASED ADOPTION OF MICROGRIDS TO ENSURE UNINTERRUPTED POWER SUPPLY 139 TABLE 59 MICROGRID MARKET FOR INSTITUTES & CAMPUSES, BY REGION, 2018–2021 (USD BILLION) 140 TABLE 60 MICROGRID MARKET FOR INSTITUTES & CAMPUSES, BY REGION, 2022–2027 (USD BILLION) 140 12.8 HEALTHCARE 141 12.8.1 HOSPITALS RAPIDLY TURNING TO MICROGRIDS TO COUNTER GRID INSTABILITY 141 TABLE 61 MICROGRID MARKET FOR HEALTHCARE, BY REGION, 2018–2021 (USD BILLION) 141 TABLE 62 MICROGRID MARKET FOR HEALTHCARE, BY REGION, 2022–2027 (USD BILLION) 142 13 MICROGRID MARKET, BY REGION 143 13.1 INTRODUCTION 144 FIGURE 66 SOUTH KOREA TO EXPERIENCE HIGHEST CAGR DURING FORECAST PERIOD 144 FIGURE 67 AMERICAS ACCOUNTS FOR LARGEST SHARE OF MICROGRID MARKET IN 2022 145 TABLE 63 MICROGRID MARKET, BY REGION, 2018–2021 (USD BILLION) 145 TABLE 64 MICROGRID MARKET, BY REGION, 2022–2027 (USD BILLION) 145 TABLE 65 MICROGRID INSTALLED CAPACITY, BY REGION, 2018–2021 (MW) 146 TABLE 66 MICROGRID INSTALLED CAPACITY, BY REGION, 2022–2027 (MW) 146 13.2 AMERICAS 147 FIGURE 68 AMERICAS: MICROGRID MARKET SNAPSHOT 147 TABLE 67 AMERICAS: MICROGRID MARKET, BY REGION, 2018–2021 (USD BILLION) 148 TABLE 68 AMERICAS: MICROGRID MARKET, BY REGION, 2022–2027 (USD BILLION) 148 TABLE 69 AMERICAS: MICROGRID MARKET, BY CONNECTIVITY, 2018–2021 (USD BILLION) 148 TABLE 70 AMERICAS: MICROGRID MARKET, BY CONNECTIVITY, 2022–2027 (USD BILLION) 148 TABLE 71 AMERICAS: MICROGRID MARKET, BY OFFERING, 2018–2021 (USD BILLION) 149 TABLE 72 AMERICAS: MICROGRID MARKET, BY OFFERING, 2022–2027 (USD BILLION) 149 TABLE 73 AMERICAS: MICROGRID HARDWARE MARKET, BY TYPE, 2018–2021 (USD BILLION) 149 TABLE 74 AMERICAS: MICROGRID HARDWARE MARKET, BY TYPE, 2022–2027 (USD BILLION) 150 TABLE 75 AMERICAS: MICROGRID MARKET, BY END USER, 2018–2021 (USD BILLION) 150 TABLE 76 AMERICAS: MICROGRID MARKET, BY END USER, 2022–2027 (USD BILLION) 150 13.2.1 NORTH AMERICA 151 TABLE 77 NORTH AMERICA: MICROGRID MARKET, BY COUNTRY, 2018–2021 (USD BILLION) 151 TABLE 78 NORTH AMERICA: MICROGRID MARKET, BY COUNTRY, 2022–2027 (USD BILLION) 151 TABLE 79 NORTH AMERICA: MICROGRID MARKET, BY CONNECTIVITY, 2018–2021 (USD BILLION) 151 TABLE 80 NORTH AMERICA: MICROGRID MARKET, BY CONNECTIVITY, 2022–2027 (USD BILLION) 152 TABLE 81 NORTH AMERICA: MICROGRID MARKET, BY OFFERING, 2018–2021 (USD BILLION) 152 TABLE 82 NORTH AMERICA: MICROGRID MARKET, BY OFFERING, 2022–2027 (USD BILLION) 152 TABLE 83 NORTH AMERICA: MICROGRID HARDWARE MARKET, BY TYPE, 2018–2021 (USD BILLION) 152 TABLE 84 NORTH AMERICA: MICROGRID HARDWARE MARKET, BY TYPE, 2022–2027 (USD BILLION) 153 TABLE 85 NORTH AMERICA: MICROGRID MARKET, BY END USER, 2018–2021 (USD BILLION) 153 TABLE 86 NORTH AMERICA: MICROGRID MARKET, BY END USER, 2022–2027 (USD BILLION) 153 13.2.1.1 US 154 13.2.1.1.1 Growing use of renewable energy sources in microgrids and presence of key players to drive market in coming years 154 TABLE 87 MICROGRID PROJECTS IN US FROM 2018 TO 2020 155 13.2.1.2 Canada 156 13.2.1.2.1 Remote communities in Canada to create opportunities for microgrid developers 156 13.2.1.3 Mexico 156 13.2.1.3.1 Mexican market to record highest CAGR in North America during forecast period 156 13.2.2 SOUTH AMERICA 156 TABLE 88 SOUTH AMERICA: MICROGRID MARKET, BY COUNTRY, 2018–2021 (USD BILLION) 157 TABLE 89 SOUTH AMERICA: MICROGRID MARKET, BY COUNTRY, 2022–2027 (USD BILLION) 157 TABLE 90 SOUTH AMERICA: MICROGRID MARKET, BY CONNECTIVITY, 2018–2021 (USD BILLION) 157 TABLE 91 SOUTH AMERICA: MICROGRID MARKET, BY CONNECTIVITY, 2022–2027 (USD BILLION) 157 TABLE 92 SOUTH AMERICA: MICROGRID MARKET, BY OFFERING, 2018–2021 (USD BILLION) 158 TABLE 93 SOUTH AMERICA: MICROGRID MARKET, BY OFFERING, 2022–2027 (USD BILLION) 158 TABLE 94 SOUTH AMERICA: MICROGRID HARDWARE MARKET, BY TYPE, 2018–2021 (USD BILLION) 158 TABLE 95 SOUTH AMERICA: MICROGRID HARDWARE MARKET, BY TYPE, 2022–2027 (USD BILLION) 158 TABLE 96 SOUTH AMERICA: MICROGRID MARKET, BY END USER, 2018–2021 (USD BILLION) 159 TABLE 97 SOUTH AMERICA: MICROGRID MARKET, BY END USER, 2022–2027 (USD BILLION) 159 13.2.2.1 Brazil 160 13.2.2.1.1 Brazil held largest size of microgrid market in South America in 2021 160 13.2.2.2 Argentina 160 13.2.2.2.1 Focus on renewable energy sources and development of smart grids 160 13.2.2.3 Rest of South America 160 13.3 EUROPE 160 FIGURE 69 EUROPE: MICROGRID MARKET SNAPSHOT 161 TABLE 98 EUROPE: MICROGRID MARKET, BY COUNTRY, 2018–2021 (USD BILLION) 162 TABLE 99 EUROPE: MICROGRID MARKET, BY COUNTRY, 2022–2027 (USD BILLION) 162 TABLE 100 EUROPE: MICROGRID MARKET, BY CONNECTIVITY, 2018–2021 (USD BILLION) 162 TABLE 101 EUROPE: MICROGRID MARKET, BY CONNECTIVITY, 2022–2027 (USD BILLION) 163 TABLE 102 EUROPE: MICROGRID MARKET, BY OFFERING, 2018–2021 (USD BILLION) 163 TABLE 103 EUROPE: MICROGRID MARKET, BY OFFERING, 2022–2027 (USD BILLION) 163 TABLE 104 EUROPE: MICROGRID HARDWARE MARKET, BY TYPE, 2018–2021 (USD BILLION) 163 TABLE 105 EUROPE: MICROGRID HARDWARE MARKET, BY TYPE, 2022–2027 (USD BILLION) 164 TABLE 106 EUROPE: MICROGRID MARKET, BY END USER, 2018–2021 (USD BILLION) 164 TABLE 107 EUROPE: MICROGRID MARKET, BY END USER, 2022–2027 (USD BILLION) 164 TABLE 108 MICROGRID PROJECTS IN EUROPE FROM 2018 TO 2021 165 13.3.1 UK 165 13.3.1.1 Rising use of microgrids to reduce wastage of heat generated by traditional systems 165 TABLE 109 MICROGRID PROJECTS IN UK FROM 2018 TO 2021 166 13.3.2 GERMANY 166 13.3.2.1 Surging adoption of microgrids due to government initiatives 166 13.3.3 FRANCE 166 13.3.3.1 Increasing government investments to promote adoption of microgrids 166 13.3.4 ITALY 167 13.3.4.1 Growing installations of PV systems to boost demand for microgrids 167 13.3.5 REST OF EUROPE 167 13.4 ASIA PACIFIC 167 FIGURE 70 ASIA PACIFIC: MICROGRID MARKET SNAPSHOT 168 TABLE 110 ASIA PACIFIC: MICROGRID MARKET, BY COUNTRY, 2018–2021 (USD BILLION) 169 TABLE 111 ASIA PACIFIC: MICROGRID MARKET, BY COUNTRY, 2022–2027 (USD BILLION) 169 TABLE 112 ASIA PACIFIC: MICROGRID MARKET, BY CONNECTIVITY, 2018–2021 (USD BILLION) 169 TABLE 113 ASIA PACIFIC: MICROGRID MARKET, BY CONNECTIVITY, 2022–2027 (USD BILLION) 170 TABLE 114 ASIA PACIFIC: MICROGRID MARKET, BY OFFERING, 2018–2021 (USD BILLION) 170 TABLE 115 ASIA PACIFIC: MICROGRID MARKET, BY OFFERING, 2022–2027 (USD BILLION) 170 TABLE 116 ASIA PACIFIC: MICROGRID HARDWARE MARKET, BY TYPE, 2018–2021 (USD BILLION) 170 TABLE 117 ASIA PACIFIC: MICROGRID HARDWARE MARKET, BY TYPE, 2022–2027 (USD BILLION) 171 TABLE 118 ASIA PACIFIC: MICROGRID MARKET, BY END USER, 2018–2021 (USD BILLION) 171 TABLE 119 ASIA PACIFIC: MICROGRID MARKET, BY END USER, 2022–2027 (USD BILLION) 171 13.4.1 AUSTRALIA 172 13.4.1.1 Rising shift to microgrids due to surging prices of traditional grid electricity 172 TABLE 120 MICROGRID PROJECTS IN AUSTRALIA FROM 2018 TO 2020 172 13.4.2 CHINA 172 13.4.2.1 Increasing government initiatives to promote use of clean energy 172 13.4.3 JAPAN 173 13.4.3.1 Growing need for reliable power supply fueling growth of microgrid market 173 13.4.4 SOUTH KOREA 173 13.4.4.1 South Korea to record highest CAGR in microgrid market during forecast period 173 13.4.5 REST OF ASIA PACIFIC 173 TABLE 121 MICROGRID PROJECTS IN REST OF ASIA PACIFIC FROM 2018 TO 2021 174 13.5 ROW 175 TABLE 122 ROW: MICROGRID MARKET, BY REGION, 2018–2021 (USD BILLION) 175 TABLE 123 ROW: MICROGRID MARKET, BY COUNTRY, 2022–2027 (USD BILLION) 175 TABLE 124 ROW: MICROGRID MARKET, BY CONNECTIVITY, 2018–2021 (USD BILLION) 175 TABLE 125 ROW: MICROGRID MARKET, BY CONNECTIVITY, 2022–2027 (USD BILLION) 176 TABLE 126 ROW: MICROGRID MARKET, BY OFFERING, 2018–2021 (USD BILLION) 176 TABLE 127 ROW: MICROGRID MARKET, BY OFFERING, 2022–2027 (USD BILLION) 176 TABLE 128 ROW: MICROGRID HARDWARE MARKET, BY TYPE, 2018–2021 (USD BILLION) 176 TABLE 129 ROW: MICROGRID HARDWARE MARKET, BY TYPE, 2022–2027 (USD BILLION) 177 TABLE 130 ROW: MICROGRID MARKET, BY END USER, 2018–2021 (USD BILLION) 177 TABLE 131 ROW: MICROGRID MARKET, BY END USER, 2022–2027 (USD BILLION) 177 13.5.1 MIDDLE EAST 178 13.5.1.1 Growth of healthcare sector and rising demand for reliable power supply contribute to growth of microgrid market 178 13.5.2 AFRICA 178 13.5.2.1 Surging number of microgrid projects in region due to various government initiatives 178 TABLE 132 MICROGRID PROJECTS IN AFRICA FROM 2018 TO 2020 179 14 COMPETITIVE LANDSCAPE 180 14.1 INTRODUCTION 180 14.2 KEY PLAYER STRATEGIES/RIGHT TO WIN 180 TABLE 133 OVERVIEW OF STRATEGIES ADOPTED BY KEY PLAYERS IN MICROGRID MARKET 180 14.3 MARKET SHARE ANALYSIS 183 FIGURE 71 MICROGRID MARKET: MARKET SHARE ANALYSIS 183 TABLE 134 MICROGRID MARKET: DEGREE OF COMPETITION 184 14.4 HISTORICAL REVENUE ANALYSIS (2017–2021) 185 FIGURE 72 REVENUE ANALYSIS OF KEY COMPANIES IN PAST FIVE YEARS 185 14.5 COMPANY EVALUATION QUADRANT, 2021 187 FIGURE 73 MICROGRID MARKET (GLOBAL) COMPANY EVALUATION MATRIX, 2021 187 14.5.1 STARS 188 14.5.2 EMERGING LEADERS 188 14.5.3 PERVASIVE COMPANIES 188 14.5.4 PARTICIPANTS 188 14.6 COMPANY FOOTPRINT 189 TABLE 135 COMPANY FOOTPRINT 189 TABLE 136 COMPANY FOOTPRINT, BY OFFERING 190 TABLE 137 COMPANY FOOTPRINT, BY END USER 191 TABLE 138 COMPANY FOOTPRINT, BY REGION 192 14.7 SMALL AND MEDIUM-SIZED ENTERPRISES (SME) EVALUATION MATRIX 193 FIGURE 74 SME EVALUATION MATRIX, 2021 193 14.7.1 PROGRESSIVE COMPANIES 193 14.7.2 RESPONSIVE COMPANIES 194 14.7.3 DYNAMIC COMPANIES 194 14.7.4 STARTING BLOCKS 194 14.8 COMPETITIVE BENCHMARKING 194 TABLE 139 MICROGRID MARKET: DETAILED LIST OF KEY SMES 194 TABLE 140 MICROGRID MARKET: COMPETITIVE BENCHMARKING OF KEY PLAYERS (SMES) 195 14.9 COMPETITIVE SCENARIO AND TRENDS 196 14.9.1 PRODUCT LAUNCHES AND DEVELOPMENTS 196 TABLE 141 MICROGRID MARKET: PRODUCT LAUNCHES AND DEVELOPMENTS, JUNE 2018– FEBRUARY 2022 196 14.9.2 DEALS 202 TABLE 142 MICROGRID MARKET: DEALS, JANUARY 2018–JANUARY 2022 202 14.9.3 OTHERS 216 TABLE 143 MICROGRID MARKET: OTHERS 216 15 COMPANY PROFILES 217 (Business overview, Products/solutions/services offered, Recent developments & MnM View)* 15.1 KEY PLAYERS 217 15.1.1 SCHNEIDER ELECTRIC 217 TABLE 144 SCHNEIDER ELECTRIC: BUSINESS OVERVIEW 217 FIGURE 75 SCHNEIDER ELECTRIC: COMPANY SNAPSHOT 218 TABLE 145 SCHNEIDER ELECTRIC: PRODUCTS OFFERED 219 TABLE 146 SCHNEIDER ELECTRIC: PRODUCT LAUNCHES 220 TABLE 147 SCHNEIDER ELECTRIC: DEALS 221 TABLE 148 SCHNEIDER ELECTRIC: OTHERS 222 15.1.2 SIEMENS 223 TABLE 149 SIEMENS: BUSINESS OVERVIEW 223 FIGURE 76 SIEMENS: COMPANY SNAPSHOT 224 TABLE 150 SIEMENS: PRODUCTS OFFERED 225 TABLE 151 SIEMENS: PRODUCT LAUNCHES 225 TABLE 152 SIEMENS: DEALS 227 15.1.3 GENERAL ELECTRIC 231 TABLE 153 GENERAL ELECTRIC: BUSINESS OVERVIEW 231 FIGURE 77 GENERAL ELECTRIC: COMPANY SNAPSHOT 232 TABLE 154 GENERAL ELECTRIC: PRODUCTS OFFERED 233 TABLE 155 GENERAL ELECTRIC: PRODUCT LAUNCHES 234 TABLE 156 GENERAL ELECTRIC: DEALS 235 15.1.4 EATON CORPORATION 240 TABLE 157 EATON CORPORATION: BUSINESS OVERVIEW 240 FIGURE 78 EATON CORPORATION: COMPANY SNAPSHOT 241 TABLE 158 EATON CORPORATION: PRODUCTS OFFERED 242 TABLE 159 EATON CORPORATION: PRODUCT LAUNCHES 243 TABLE 160 EATON CORPORATION: DEALS 244 TABLE 161 EATON CORPORATION: OTHERS 247 15.1.5 ABB 248 TABLE 162 ABB: BUSINESS OVERVIEW 248 FIGURE 79 ABB: COMPANY SNAPSHOT 249 TABLE 163 ABB: PRODUCTS OFFERED 249 TABLE 164 ABB: PRODUCT LAUNCHES 251 TABLE 165 ABB: DEALS 251 15.1.6 HITACHI ENERGY 254 TABLE 166 HITACHI ENERGY: BUSINESS OVERVIEW 254 TABLE 167 HITACHI ENERGY: PRODUCTS OFFERED 254 TABLE 168 HITACHI ENERGY: PRODUCT LAUNCHES 256 TABLE 169 HITACHI ENERGY: DEALS 256 15.1.7 HONEYWELL INTERNATIONAL INC. 259 TABLE 170 HONEYWELL INTERNATIONAL INC.: BUSINESS OVERVIEW 259 FIGURE 80 HONEYWELL INTERNATIONAL INC.: COMPANY SNAPSHOT 260 TABLE 171 HONEYWELL INTERNATIONAL INC.: PRODUCTS OFFERED 261 TABLE 172 HONEYWELL INTERNATIONAL INC.: PRODUCT LAUNCHES 261 TABLE 173 HONEYWELL INTERNATIONAL INC.: DEALS 262 15.1.8 HOMER ENERGY (PART OF UL) 263 TABLE 174 HOMER ENERGY: BUSINESS OVERVIEW 263 TABLE 175 HOMER ENERGY: PRODUCTS OFFERED 264 TABLE 176 HOMER ENERGY: PRODUCT LAUNCHES 265 TABLE 177 HOMER ENERGY: DEALS 267 15.1.9 S&C ELECTRIC COMPANY 268 TABLE 178 S&C ELECTRIC COMPANY: BUSINESS OVERVIEW 268 TABLE 179 S&C ELECTRIC COMPANY: PRODUCTS OFFERED 268 TABLE 180 S&C ELECTRIC COMPANY: PRODUCT LAUNCHES 270 TABLE 181 S&C ELECTRIC COMPANY: DEALS 271 TABLE 182 S&C ELECTRIC COMPANY: OTHERS 271 15.1.10 POWER ANALYTICS CORPORATION 272 TABLE 183 POWER ANALYTICS CORPORATION: BUSINESS OVERVIEW 272 TABLE 184 POWER ANALYTICS CORPORATION: PRODUCTS OFFERED 273 TABLE 185 POWER ANALYTICS CORPORATION: PRODUCT LAUNCHES 274 TABLE 186 POWER ANALYTICS CORPORATION: DEALS 275 *Details on Business overview, Products/solutions/services offered, Recent developments & MnM View might not be captured in case of unlisted companies. 15.2 OTHER PLAYERS 276 15.2.1 CATERPILLAR INC. 276 15.2.2 TESLA ENERGY (SUBSIDIARY OF TESLA) 277 15.2.3 EMERSON ELECTRIC 278 15.2.4 PARETO ENERGY 279 15.2.5 ANBARIC TRANSMISSION 279 15.2.6 EXELON CORPORATION 280 15.2.7 SPIRAE LLC 280 15.2.8 GENERAL MICROGRIDS 281 15.2.9 GRAM POWER INC. 282 15.2.10 POWERHIVE 283 15.2.11 ADVANCED MICROGRID SOLUTIONS 283 15.2.12 GO ELECTRIC 284 15.2.13 FERROAMP 284 15.2.14 CANOPY POWER 285 15.2.15 GREEN ENERGY CORP 285 16 APPENDIX 286 16.1 INSIGHTS FROM INDUSTRY EXPERTS 286 16.2 DISCUSSION GUIDE 286 16.3 KNOWLEDGE STORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL 290 16.4 AVAILABLE CUSTOMIZATIONS 292 16.5 RELATED REPORTS 292 16.6 AUTHOR DETAILS 293
SummaryThe global microgrid market size is estimated to be USD 26.9 billion in 2022 and is projected to reach USD 63.2 billion by 2027, at a CAGR of 18.6% during the forecast period. Some of the major factors contributing to the growth of microgrid market includes the increasing number of microgrid projects across different industries, surging energy demand and adoption of renewable energy in Asia Pacific, growing interest of investors in EaaS business model to minimize costs, and rising encouragement from governments for developing microgrid projects. Table of Contents1 INTRODUCTION 231.1 STUDY OBJECTIVES 23 1.2 DEFINITION AND SCOPE 23 1.2.1 INCLUSIONS AND EXCLUSIONS: OFFERING SEGMENT 24 1.2.2 INCLUSIONS AND EXCLUSIONS: OTHER SEGMENTS 24 1.3 STUDY SCOPE 25 1.3.1 MARKETS COVERED 25 FIGURE 1 MARKET SEGMENTATION 25 1.3.2 REGIONAL SCOPE 25 1.3.3 YEARS CONSIDERED 26 1.4 CURRENCY 26 1.5 UNIT CONSIDERED 26 1.6 LIMITATIONS 26 1.7 STAKEHOLDERS 26 1.8 SUMMARY OF CHANGES 27 2 RESEARCH METHODOLOGY 28 2.1 RESEARCH DATA 28 FIGURE 2 MICROGRID MARKET: RESEARCH DESIGN 28 2.1.1 SECONDARY DATA 29 2.1.1.1 Major secondary sources 29 2.1.1.2 Key data from secondary sources 30 2.1.2 PRIMARY DATA 30 2.1.2.1 Primary interviews with experts 30 2.1.2.2 List of key primary interview participants 31 2.1.2.3 Breakdown of primaries 31 2.1.2.4 Key data from primary sources 32 2.1.3 SECONDARY AND PRIMARY RESEARCH 33 2.1.3.1 Key industry insights 33 2.2 MARKET SIZE ESTIMATION 34 2.2.1 BOTTOM-UP APPROACH 34 2.2.1.1 Approach used to arrive at market size using bottom-up analysis 34 FIGURE 3 MARKET SIZE ESTIMATION METHODOLOGY: BOTTOM-UP APPROACH 34 2.2.1.2 Approach for obtaining company-specific information in microgrid value chain 35 2.2.2 TOP-DOWN APPROACH 35 2.2.2.1 Approach used to arrive at market size using top-down analysis 35 FIGURE 4 MARKET SIZE ESTIMATION METHODOLOGY: TOP-DOWN APPROACH 35 2.3 FACTOR ANALYSIS 36 2.3.1 MICROGRID MARKET: SUPPLY-SIDE ANALYSIS 36 FIGURE 5 MARKET SIZE ESTIMATION METHODOLOGY: (SUPPLY SIDE): REVENUE GENERATED FROM SALES OF MICROGRIDS 36 FIGURE 6 MARKET SIZE ESTIMATION METHODOLOGY: (SUPPLY SIDE): REVENUE FROM MICROGRID HARDWARE, SOFTWARE, AND SERVICES 37 2.3.2 MICROGRID MARKET: DEMAND-SIDE ANALYSIS 38 FIGURE 7 MARKET SIZE ESTIMATION METHODOLOGY: (DEMAND SIDE): BOTTOM-UP APPROACH FOR ESTIMATION OF SIZE OF MICROGRID MARKET BASED ON REGION 38 FIGURE 8 MARKET SIZE ESTIMATION METHODOLOGY: DEMAND-SIDE ANALYSIS (COUNTRY LEVEL) 39 2.3.3 GROWTH FORECAST ASSUMPTIONS 40 TABLE 1 MICROGRID MARKET: KEY FORECASTING ASSUMPTIONS 40 2.4 DATA TRIANGULATION 41 FIGURE 9 DATA TRIANGULATION METHODOLOGY 41 2.5 ASSUMPTIONS 42 TABLE 2 KEY ASSUMPTIONS: MACRO- AND MICRO-ECONOMIC ENVIRONMENT 42 2.6 RISK ASSESSMENT 43 TABLE 3 RISK ASSESSMENT: MICROGRID MARKET 43 3 EXECUTIVE SUMMARY 44 3.1 REALISTIC SCENARIO (POST-COVID-19) 44 3.2 OPTIMISTIC SCENARIO (POST-COVID-19) 45 3.3 PESSIMISTIC SCENARIO (POST-COVID-19) 45 FIGURE 10 MICROGRID MARKET: OPTIMISTIC, REALISTIC, AND PESSIMISTIC SCENARIO ANALYSIS, 2018–2027 (USD BILLION) 45 FIGURE 11 MICROGRID MARKET FOR GRID-CONNECTED SEGMENT TO RECORD HIGHER GROWTH RATE DURING FORECAST PERIOD 46 FIGURE 12 HARDWARE SEGMENT TO ACCOUNT FOR LARGEST MARKET SHARE OF MICROGRID MARKET DURING FORECASTING PERIOD 46 FIGURE 13 CONTROLLERS TO RECORD HIGHEST CAGR IN MICROGRID HARDWARE MARKET FROM 2022 TO 2027 47 FIGURE 14 MICROGRID MARKET FOR COMMERCIAL & INDUSTRIAL END USER TO HOLD LARGEST SHARE IN 2027 48 FIGURE 15 MICROGRIDS WITH POWER RATINGS BETWEEN 1 MW TO 5 MW HOLD LARGEST MARKET SHARE 48 FIGURE 16 MICROGRID MARKET IN ASIA PACIFIC TO RECORD HIGHEST CAGR DURING FORECAST PERIOD 49 4 PREMIUM INSIGHTS 50 4.1 ATTRACTIVE GROWTH OPPORTUNITIES IN MICROGRID MARKET 50 FIGURE 17 INCREASING DEMAND FOR UNINTERRUPTED AND RELIABLE POWER SUPPLY DRIVING MICROGRID MARKET 50 4.2 MICROGRID MARKET, BY OFFERING 50 FIGURE 18 HARDWARE TO HOLD LARGEST SHARE OF MICROGRID MARKET IN 2022 AND 2027 50 4.3 MICROGRID MARKET, BY HARDWARE TYPE 51 FIGURE 19 POWER GENERATORS TO ACCOUNT FOR LARGEST SIZE OF MICROGRID HARDWARE MARKET FROM 2022 TO 2027 51 4.4 MICROGRID MARKET, BY CONNECTIVITY 51 FIGURE 20 GRID-CONNECTED MICROGRIDS TO ACCOUNT FOR LARGER SHARE OF MARKET FROM 2022 TO 2027 51 4.5 MICROGRID MARKET, BY POWER RATING 52 FIGURE 21 MICROGRIDS WITH POWER RATINGS FROM 1 MW TO 5 MW ARE LIKELY TO ACCOUNT FOR LARGEST MARKET SIZE FROM 2022 TO 2027 52 4.6 MICROGRID MARKET, BY END USER 52 FIGURE 22 COMMERCIAL & INDUSTRIAL TO ACCOUNT FOR LARGEST SIZE OF MICROGRID MARKET FROM 2022 TO 2027 52 5 MARKET OVERVIEW 53 5.1 INTRODUCTION 53 5.2 MARKET DYNAMICS 53 FIGURE 23 MICROGRID MARKET: DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES 53 5.2.1 DRIVERS 54 5.2.1.1 Increasing emphasis on decarbonization by end users and governments 54 FIGURE 24 GLOBAL SOLAR PV AND WIND INSTALLATIONS, 2018–2027 IN GIGAWATTS (GW) 55 FIGURE 25 GLOBAL INVESTMENTS IN CLEAN ENERGY AND ENERGY EFFICIENCY, 2018–2021 55 5.2.1.2 Growing need for reliable, uninterrupted power supply 55 5.2.1.3 Surging use of microgrids for rural electrification 56 5.2.1.4 Rising instances of cyberattacks on energy infrastructure 56 FIGURE 26 DRIVERS AND THEIR IMPACT ON MICROGRID MARKET 57 5.2.2 RESTRAINTS 57 5.2.2.1 Huge installation and maintenance costs of microgrids 57 FIGURE 27 RESTRAINTS AND THEIR IMPACT ON MICROGRID MARKET 58 5.2.3 OPPORTUNITIES 58 5.2.3.1 Increasing number of microgrid projects across different industries 58 5.2.3.2 Surging energy demand and adoption of renewable energy in Asia Pacific 59 5.2.3.3 Growing interest of investors in EaaS business model to minimize costs 59 TABLE 4 BUSINESS MODEL OF COMPANIES IN MICROGRID ECOSYSTEM 60 5.2.3.4 Rising encouragement from governments for developing microgrid projects 60 FIGURE 28 OPPORTUNITIES AND THEIR IMPACT ON MICROGRID MARKET 61 5.2.4 CHALLENGES 61 5.2.4.1 Lack of standardization and regulatory frameworks related to microgrid operations 61 5.2.4.2 Technical challenges of microgrids operating in island mode 61 FIGURE 29 CHALLENGES AND THEIR IMPACT ON MICROGRID MARKET 62 5.3 VALUE CHAIN ANALYSIS 62 FIGURE 30 MICROGRID MARKET: VALUE CHAIN ANALYSIS 62 5.4 MICROGRID MARKET ECOSYSTEM 63 TABLE 5 MICROGRID MARKET: ECOSYSTEM 64 FIGURE 31 KEY PLAYERS IN MICROGRID MARKET ECOSYSTEM 65 5.5 PRICING ANALYSIS 66 FIGURE 32 AVERAGE MICROGRID COST, BY END USER AND PROJECT SIZE 66 TABLE 6 AVERAGE COST OF MICROGRID PROJECTS FOR TOP 3 APPLICATIONS (USD MILLION/MW) 66 5.5.1 ANALYSIS AND TREND OF AVERAGE MICROGRID COST 67 FIGURE 33 MICROGRID MARKET: AVERAGE COST OF MICROGRID PROJECTS 67 5.6 TRENDS/DISRUPTIONS IMPACTING CUSTOMER’S BUSINESS 67 FIGURE 34 REVENUE SHIFT FOR MICROGRID MARKET 67 5.7 KEY TECHNOLOGY TRENDS 68 5.7.1 BLOCKCHAIN-BASED MICROGRIDS/BLOCKCHAIN MICROGRIDS 68 5.7.2 SMART MICROGRIDS 68 5.7.3 ADVENT OF AI-BASED MICROGRIDS 68 5.8 PORTER'S FIVE FORCES ANALYSIS 69 FIGURE 35 MICROGRID MARKET: PORTER’S FIVE FORCES ANALYSIS 69 FIGURE 36 IMPACT OF PORTER’S FIVE FORCES ON MICROGRID MARKET 69 TABLE 7 IMPACT OF PORTER’S 5 FORCES ON MICROGRID MARKET 70 5.8.1 THREAT OF NEW ENTRANTS 70 5.8.2 THREAT OF SUBSTITUTES 70 5.8.3 BARGAINING POWER OF SUPPLIERS 70 5.8.4 BARGAINING POWER OF BUYERS 71 5.8.5 INTENSITY OF COMPETITIVE RIVALRY 71 5.9 KEY STAKEHOLDERS & BUYING CRITERIA 71 5.9.1 KEY STAKEHOLDERS IN BUYING PROCESS 71 FIGURE 37 INFLUENCE OF STAKEHOLDERS IN BUYING PROCESS FOR TOP 3 END USERS 71 TABLE 8 INFLUENCE OF STAKEHOLDERS IN BUYING PROCESS FOR TOP 3 END USERS (%) 72 5.9.2 BUYING CRITERIA 72 FIGURE 38 KEY BUYING CRITERIA FOR TOP 3 END USERS 72 TABLE 9 KEY BUYING CRITERIA FOR TOP 3 END USERS 72 5.10 CASE STUDIES: MICROGRID MARKET 73 5.10.1 GE PROVIDED CAMPUS-BASED MICROGRID SYSTEM TO UNIVERSITY OF ONTARIO INSTITUTE OF TECHNOLOGY (CANADA) 73 TABLE 10 GE INSTALLED BATTERY ENERGY STORAGE SYSTEM FOR UNIVERSITY OF ONTARIO INSTITUTE OF TECHNOLOGY CAMPUS 73 5.10.2 GE PROVIDED SYSTEMS OFFERING RESILIENT, RELIABLE POWER FOR NAVY SHIPYARD PROJECT IN PHILADELPHIA (US) 73 TABLE 11 GE: MICROGRID ENERGY MANAGEMENT SYSTEM FOR NAVY SHIPYARD PROJECT IN PHILADELPHIA 73 5.10.3 SOLAR ONE ENERGY USED HOMER GRID TO MODEL ENERGY COSTS FOR ACE NATURAL 74 TABLE 12 HOMER ENERGY PROVIDED HOMER GRID SOFTWARE FOR SOLAR ONE ENERGY 74 5.10.4 S&C ELECTRIC SUPPLIED SERVICES FOR HALF MOON VENTURES’ PROJECT 74 TABLE 13 S&C ELECTRIC COMPANY PROVIDED ENERGY STORAGE FOR MICROGRID PROJECT BY HALF MOON VENTURES IN WESTERN OHIO, US 74 5.10.5 ERGON ENERGY PARTNERED WITH S&C ELECTRIC COMPANY 75 TABLE 14 S&C ELECTRIC PROVIDED ENERGY STORAGE SYSTEMS FOR MICROGRIDS OF ERGON ENERGY 75 5.11 TRADE ANALYSIS 76 TABLE 15 IMPORT DATA FOR ELECTRIC MOTORS AND GENERATORS (EXCLUDING GENERATING SETS), HS CODE: 8501 (USD MILLION) 76 FIGURE 39 ELECTRIC MOTORS AND GENERATORS (EXCLUDING GENERATING SETS), IMPORT VALUES FOR MAJOR COUNTRIES, 2017–2021 76 TABLE 16 EXPORT DATA FOR ELECTRIC MOTORS AND GENERATORS (EXCLUDING GENERATING SETS), HS CODE: 8501 (USD MILLION) 77 FIGURE 40 ELECTRIC MOTORS AND GENERATORS (EXCLUDING GENERATING SETS), EXPORT VALUES FOR MAJOR COUNTRIES, 2017–2021 77 TABLE 17 IMPORT DATA FOR ELECTRONIC-INTEGRATED CIRCUITS AS PROCESSORS AND CONTROLLERS, HS CODE: 854231 (USD MILLION) 78 FIGURE 41 ELECTRONIC-INTEGRATED CIRCUITS AS PROCESSORS AND CONTROLLERS, IMPORT VALUES FOR MAJOR COUNTRIES, 2017–2021 78 TABLE 18 EXPORT DATA FOR ELECTRONIC-INTEGRATED CIRCUITS AS PROCESSORS AND CONTROLLERS, HS CODE: 854231 (USD MILLION) 79 FIGURE 42 ELECTRONIC-INTEGRATED CIRCUITS AS PROCESSORS AND CONTROLLERS, EXPORT VALUES FOR MAJOR COUNTRIES, 2017–2021 79 5.12 PATENT ANALYSIS 80 FIGURE 43 NUMBER OF PATENTS GRANTED IN MICROGRID MARKET, 2011–2021 80 FIGURE 44 REGIONAL ANALYSIS OF PATENTS GRANTED FOR MICROGRIDS, 2011–2021 81 TABLE 19 LIST OF KEY PATENTS IN MICROGRID MARKET, 2020–2022 81 5.13 KEY CONFERENCES AND EVENTS IN 2022–2024 83 TABLE 20 MICROGRID MARKET: DETAILED LIST OF CONFERENCES AND EVENTS 83 5.14 TARIFFS AND REGULATORY LANDSCAPE 87 5.14.1 REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 87 TABLE 21 LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 87 5.14.2 CODES AND STANDARDS RELATED TO MICROGRIDS 89 TABLE 22 CODES AND STANDARDS RELATED TO MICROGRIDS 89 6 MICROGRID MARKET, BY CONNECTIVITY 90 6.1 INTRODUCTION 91 FIGURE 45 MICROGRID MARKET, BY CONNECTIVITY 91 TABLE 23 MICROGRID MARKET, BY CONNECTIVITY, 2018–2021 (USD BILLION) 91 FIGURE 46 GRID-CONNECTED MICROGRIDS TO RECORD HIGHER GROWTH RATE DURING FORECAST PERIOD 92 TABLE 24 MICROGRID MARKET, BY CONNECTIVITY, 2022–2027 (USD BILLION) 92 6.2 GRID-CONNECTED 93 6.2.1 GRID-CONNECTED MICROGRIDS ACCOUNTED FOR LARGER SHARE DUE TO EXPANSION OF UTILITY-BASED GRID NETWORKS AND USE OF RENEWABLE SOURCES 93 TABLE 25 GRID-CONNECTED MICROGRID MARKET, BY REGION, 2018–2021 (USD BILLION) 93 FIGURE 47 ASIA PACIFIC TO RECORD HIGHEST GROWTH RATE IN GRID-CONNECTED MICROGRID MARKET DURING FORECAST PERIOD 94 TABLE 26 GRID-CONNECTED MICROGRID MARKET, BY REGION, 2022–2027 (USD BILLION) 94 6.3 OFF-GRID 95 6.3.1 GROWING OFF-GRID SOLAR PROJECTS TO CREATE NEW MARKET OPPORTUNITIES IN COMING YEARS 95 TABLE 27 OFF-GRID MICROGRID MARKET, BY REGION, 2018–2021 (USD BILLION) 95 FIGURE 48 AMERICAS HOLDS LARGEST MARKET SIZE IN OFF-GRID MICROGRID MARKET IN 2022 96 TABLE 28 OFF-GRID MICROGRID MARKET, BY REGION, 2022–2027 (USD BILLION) 96 7 MICROGRID MARKET, BY OFFERING 97 7.1 INTRODUCTION 98 FIGURE 49 MICROGRID MARKET, BY OFFERING 98 TABLE 29 MICROGRID MARKET, BY OFFERING, 2018–2021 (USD BILLION) 98 FIGURE 50 SOFTWARE TO RECORD HIGHEST GROWTH RATE DURING FORECAST PERIOD 99 TABLE 30 MICROGRID MARKET, BY OFFERING, 2022–2027 (USD BILLION) 99 TABLE 31 MICROGRID HARDWARE MARKET, BY TYPE, 2018–2021 (USD BILLION) 99 TABLE 32 MICROGRID HARDWARE MARKET, BY TYPE, 2022–2027 (USD BILLION) 100 7.2 HARDWARE 100 FIGURE 51 MICROGRID HARDWARE MARKET, BY TYPE 100 TABLE 33 MICROGRID HARDWARE MARKET, BY REGION, 2018–2021 (USD BILLION) 101 FIGURE 52 MICROGRID HARDWARE MARKET IN ASIA PACIFIC TO RECORD HIGHEST GROWTH RATE DURING FORECAST PERIOD 101 TABLE 34 MICROGRID HARDWARE MARKET, BY REGION, 2022–2027 (USD BILLION) 101 7.2.1 POWER GENERATORS 102 7.2.1.1 Power generators to account for largest share of microgrid hardware market during forecast period 102 TABLE 35 MICROGRID HARDWARE MARKET FOR POWER GENERATORS, BY REGION, 2018–2021 (USD BILLION) 103 TABLE 36 MICROGRID HARDWARE MARKET FOR POWER GENERATORS, BY REGION, 2022–2027 (USD BILLION) 103 7.2.2 ENERGY STORAGE SYSTEMS 103 7.2.2.1 Growing need for energy storage systems to optimize power delivery 103 TABLE 37 MICROGRID HARDWARE MARKET FOR ENERGY STORAGE SYSTEMS, BY REGION, 2018–2021 (USD BILLION) 104 TABLE 38 MICROGRID HARDWARE MARKET FOR ENERGY STORAGE SYSTEMS, BY REGION, 2022–2027 (USD BILLION) 104 7.2.2.2 Lithium-ion batteries 104 7.2.2.3 Flow batteries 105 7.2.2.4 Flywheels 106 7.2.2.5 Others 106 7.2.3 CONTROLLERS 107 7.2.3.1 Controllers are required to monitor and optimally carry out different functions of microgrids 107 TABLE 39 MICROGRID HARDWARE MARKET FOR CONTROLLERS, BY REGION, 2018–2021 (USD BILLION) 108 TABLE 40 MICROGRID HARDWARE MARKET FOR CONTROLLERS, BY REGION, 2022–2027 (USD BILLION) 108 7.3 SOFTWARE 108 7.3.1 USE OF SOFTWARE IN MICROGRID PROJECTS HELPS SIMPLIFY TECHNICAL AND ECONOMIC FACTORS 108 TABLE 41 MICROGRID SOFTWARE MARKET, BY REGION, 2018–2021 (USD BILLION) 109 FIGURE 53 MICROGRID SOFTWARE MARKET IN AMERICAS TO ACCOUNT FOR LARGEST SHARE DURING FORECAST PERIOD 109 TABLE 42 MICROGRID SOFTWARE MARKET, BY REGION, 2022–2027 (USD BILLION) 110 7.4 SERVICES 110 7.4.1 RISING NUMBER OF MICROGRID INSTALLATIONS CREATES NEW OPPORTUNITIES FOR SERVICES 110 TABLE 43 MICROGRID MARKET FOR SERVICES, BY REGION, 2018–2021 (USD BILLION) 111 FIGURE 54 MICROGRID SERVICES MARKET IN ASIA PACIFIC TO RECORD HIGHEST GROWTH RATE DURING FORECAST PERIOD 111 TABLE 44 MICROGRID MARKET FOR SERVICES, BY REGION, 2022–2027 (USD BILLION) 112 8 MICROGRID MARKET, BY POWER SOURCE 113 8.1 INTRODUCTION 113 FIGURE 55 MICROGRID MARKET, BY POWER SOURCE 113 FIGURE 56 GLOBAL MICROGRID PROJECT DEPLOYMENT TREND, BY POWER SOURCE, 2021 VS. 2027 114 8.2 NATURAL GAS 114 8.3 SOLAR PV 115 8.4 COMBINED HEAT AND POWER 115 8.5 DIESEL 116 8.6 FUEL CELL 116 8.7 OTHERS 117 9 MICROGRID MARKET, BY PATTERN 118 9.1 INTRODUCTION 118 9.2 URBAN/METROPOLITAN 118 9.2.1 INCREASING DEVELOPMENT OF MICROGRIDS IN URBAN AREAS BOOSTING MARKET GROWTH 118 FIGURE 57 DRIVERS OF MICROGRID MARKET IN URBAN/METROPOLITAN AREAS 119 9.3 SEMIURBAN 119 9.3.1 GROWING INITIATIVES TO DEVELOP MICROGRIDS FOR SEMIURBAN AREAS IN VARIOUS COUNTRIES DRIVING MARKET 119 9.4 RURAL/ISLAND 120 9.4.1 RISING NUMBER OF ELECTRIFICATION PROJECTS LEADING TO GROWTH OF MICROGRID MARKET 120 10 MICROGRID MARKET, BY TYPE 121 10.1 INTRODUCTION 121 FIGURE 58 MICROGRID MARKET, BY TYPE 121 10.2 AC MICROGRIDS 122 10.2.1 ELIMINATE INVERTER REQUIREMENT FOR POWER SUPPLY TO AC LOADS 122 10.3 DC MICROGRIDS 122 10.3.1 OFFER HIGHER EFFICIENCY, RELIABILITY, AND STABILITY 122 10.4 HYBRID MICROGRIDS 123 10.4.1 USE OF DIFFERENT ENERGY SOURCES FOR POWER GENERATION REDUCES DEPENDENCE ON FOSSIL FUEL 123 11 MICROGRID MARKET, BY POWER RATING 124 11.1 INTRODUCTION 125 FIGURE 59 1 MW TO 5 MW MICROGRID POWER RATING TO HOLD LARGEST MARKET SHARE DURING FORECAST PERIOD 125 TABLE 45 MICROGRID MARKET, BY POWER RATING, 2018–2021 (USD BILLION) 125 TABLE 46 MICROGRID MARKET, BY POWER RATING, 2022–2027 (USD BILLION) 126 11.2 LESS THAN 1 MW 126 11.2.1 REMOTE AREAS, GOVERNMENTS, AND UTILITIES USE MICROGRIDS WITH POWER RATINGS OF LESS THAN 1 MW 126 11.3 1 MW TO 5 MW 126 11.3.1 GROWTH OF MARKET FOR MICROGRID SYSTEMS WITH POWER RATINGS BETWEEN 1 MW AND 5 MW FUELLED BY INCREASING DEPLOYMENT IN COMMERCIAL AND INDUSTRIAL SECTOR 126 11.4 5 MW TO 10 MW 127 11.4.1 MICROGRIDS WITH POWER RATINGS BETWEEN 5 MW TO 10 MW MEET HIGH-POWER REQUIREMENTS IN UNIVERSITIES, SMART CITIES, AND COMMERCIAL APPLICATIONS 127 11.5 ABOVE 10 MW 127 11.5.1 SECTORS WITH HIGH POWER REQUIREMENTS UTILIZE MICROGRID SYSTEMS WITH POWER RATINGS ABOVE 10 MW 127 12 MICROGRID MARKET, BY END USER 128 12.1 INTRODUCTION 129 FIGURE 60 MICROGRID MARKET, BY END USER 129 TABLE 47 MICROGRID MARKET, BY END USER, 2018–2021 (USD BILLION) 130 FIGURE 61 COMMERCIAL & INDUSTRIAL SEGMENT TO RECORD HIGHEST GROWTH RATE DURING FORECAST PERIOD 130 TABLE 48 MICROGRID MARKET, BY END USER, 2022–2027 (USD BILLION) 131 12.2 COMMERCIAL & INDUSTRIAL 131 12.2.1 REQUIREMENT FOR UNINTERRUPTED ELECTRICITY SUPPLY IN COMMERCIAL AND INDUSTRIAL SECTOR TO DRIVE MARKET 131 TABLE 49 MICROGRID MARKET FOR COMMERCIAL & INDUSTRIAL END USER, BY REGION, 2018–2021 (USD BILLION) 132 FIGURE 62 COMMERCIAL & INDUSTRIAL SECTOR IN ASIA PACIFIC TO RECORD HIGHEST GROWTH RATE DURING FORECAST PERIOD 132 TABLE 50 MICROGRID MARKET FOR COMMERCIAL & INDUSTRIAL, BY REGION, 2022–2027 (USD BILLION) 133 12.3 REMOTE AREAS 133 12.3.1 SURGE IN DEPLOYMENT OF MICROGRID PROJECTS IN REMOTE AREAS DUE TO UNAVAILABILITY OF MAIN UTILITY-GRID SYSTEMS FOR ENERGY DISTRIBUTION TO BOOST MARKET 133 TABLE 51 MICROGRID MARKET FOR REMOTE AREAS, BY REGION, 2018–2021 (USD BILLION) 134 FIGURE 63 REMOTE AREAS SEGMENT IN ASIA PACIFIC TO RECORD HIGHEST GROWTH RATE DURING FORECAST PERIOD 134 TABLE 52 MICROGRID MARKET FOR REMOTE AREAS, BY REGION, 2022–2027 (USD BILLION) 134 12.4 MILITARY 135 12.4.1 WIDE USE OF MICROGRIDS FOR ENERGY SECURITY AND RESILIENCY TO PROPEL MARKET GROWTH 135 TABLE 53 MICROGRID MARKET FOR MILITARY, BY REGION, 2018–2021 (USD BILLION) 135 FIGURE 64 MILITARY SEGMENT IN AMERICAS TO ACCOUNT FOR LARGEST SHARE IN 2022 136 TABLE 54 MICROGRID MARKET FOR MILITARY, BY REGION, 2022–2027 (USD BILLION) 136 12.5 GOVERNMENT 137 12.5.1 DECLINE IN PRICES OF ELECTRICITY GENERATED FROM RENEWABLE ENERGY SOURCES LEADS TO RISING ADOPTION OF MICROGRIDS 137 TABLE 55 MICROGRID MARKET FOR GOVERNMENT, BY REGION, 2018–2021 (USD BILLION) 137 TABLE 56 MICROGRID MARKET FOR GOVERNMENT, BY REGION, 2022–2027 (USD BILLION) 137 12.6 UTILITIES 138 12.6.1 MICROGRIDS PROVIDE UTILITIES WITH LESS EXPENSIVE ALTERNATIVE 138 TABLE 57 MICROGRID MARKET FOR UTILITIES, BY REGION, 2018–2021 (USD BILLION) 138 FIGURE 65 UTILITIES SEGMENT IN AMERICAS TO RECORD HIGHEST GROWTH RATE DURING FORECAST PERIOD 139 TABLE 58 MICROGRID MARKET FOR UTILITIES, BY REGION, 2022–2027 (USD BILLION) 139 12.7 INSTITUTES & CAMPUSES 139 12.7.1 INCREASED ADOPTION OF MICROGRIDS TO ENSURE UNINTERRUPTED POWER SUPPLY 139 TABLE 59 MICROGRID MARKET FOR INSTITUTES & CAMPUSES, BY REGION, 2018–2021 (USD BILLION) 140 TABLE 60 MICROGRID MARKET FOR INSTITUTES & CAMPUSES, BY REGION, 2022–2027 (USD BILLION) 140 12.8 HEALTHCARE 141 12.8.1 HOSPITALS RAPIDLY TURNING TO MICROGRIDS TO COUNTER GRID INSTABILITY 141 TABLE 61 MICROGRID MARKET FOR HEALTHCARE, BY REGION, 2018–2021 (USD BILLION) 141 TABLE 62 MICROGRID MARKET FOR HEALTHCARE, BY REGION, 2022–2027 (USD BILLION) 142 13 MICROGRID MARKET, BY REGION 143 13.1 INTRODUCTION 144 FIGURE 66 SOUTH KOREA TO EXPERIENCE HIGHEST CAGR DURING FORECAST PERIOD 144 FIGURE 67 AMERICAS ACCOUNTS FOR LARGEST SHARE OF MICROGRID MARKET IN 2022 145 TABLE 63 MICROGRID MARKET, BY REGION, 2018–2021 (USD BILLION) 145 TABLE 64 MICROGRID MARKET, BY REGION, 2022–2027 (USD BILLION) 145 TABLE 65 MICROGRID INSTALLED CAPACITY, BY REGION, 2018–2021 (MW) 146 TABLE 66 MICROGRID INSTALLED CAPACITY, BY REGION, 2022–2027 (MW) 146 13.2 AMERICAS 147 FIGURE 68 AMERICAS: MICROGRID MARKET SNAPSHOT 147 TABLE 67 AMERICAS: MICROGRID MARKET, BY REGION, 2018–2021 (USD BILLION) 148 TABLE 68 AMERICAS: MICROGRID MARKET, BY REGION, 2022–2027 (USD BILLION) 148 TABLE 69 AMERICAS: MICROGRID MARKET, BY CONNECTIVITY, 2018–2021 (USD BILLION) 148 TABLE 70 AMERICAS: MICROGRID MARKET, BY CONNECTIVITY, 2022–2027 (USD BILLION) 148 TABLE 71 AMERICAS: MICROGRID MARKET, BY OFFERING, 2018–2021 (USD BILLION) 149 TABLE 72 AMERICAS: MICROGRID MARKET, BY OFFERING, 2022–2027 (USD BILLION) 149 TABLE 73 AMERICAS: MICROGRID HARDWARE MARKET, BY TYPE, 2018–2021 (USD BILLION) 149 TABLE 74 AMERICAS: MICROGRID HARDWARE MARKET, BY TYPE, 2022–2027 (USD BILLION) 150 TABLE 75 AMERICAS: MICROGRID MARKET, BY END USER, 2018–2021 (USD BILLION) 150 TABLE 76 AMERICAS: MICROGRID MARKET, BY END USER, 2022–2027 (USD BILLION) 150 13.2.1 NORTH AMERICA 151 TABLE 77 NORTH AMERICA: MICROGRID MARKET, BY COUNTRY, 2018–2021 (USD BILLION) 151 TABLE 78 NORTH AMERICA: MICROGRID MARKET, BY COUNTRY, 2022–2027 (USD BILLION) 151 TABLE 79 NORTH AMERICA: MICROGRID MARKET, BY CONNECTIVITY, 2018–2021 (USD BILLION) 151 TABLE 80 NORTH AMERICA: MICROGRID MARKET, BY CONNECTIVITY, 2022–2027 (USD BILLION) 152 TABLE 81 NORTH AMERICA: MICROGRID MARKET, BY OFFERING, 2018–2021 (USD BILLION) 152 TABLE 82 NORTH AMERICA: MICROGRID MARKET, BY OFFERING, 2022–2027 (USD BILLION) 152 TABLE 83 NORTH AMERICA: MICROGRID HARDWARE MARKET, BY TYPE, 2018–2021 (USD BILLION) 152 TABLE 84 NORTH AMERICA: MICROGRID HARDWARE MARKET, BY TYPE, 2022–2027 (USD BILLION) 153 TABLE 85 NORTH AMERICA: MICROGRID MARKET, BY END USER, 2018–2021 (USD BILLION) 153 TABLE 86 NORTH AMERICA: MICROGRID MARKET, BY END USER, 2022–2027 (USD BILLION) 153 13.2.1.1 US 154 13.2.1.1.1 Growing use of renewable energy sources in microgrids and presence of key players to drive market in coming years 154 TABLE 87 MICROGRID PROJECTS IN US FROM 2018 TO 2020 155 13.2.1.2 Canada 156 13.2.1.2.1 Remote communities in Canada to create opportunities for microgrid developers 156 13.2.1.3 Mexico 156 13.2.1.3.1 Mexican market to record highest CAGR in North America during forecast period 156 13.2.2 SOUTH AMERICA 156 TABLE 88 SOUTH AMERICA: MICROGRID MARKET, BY COUNTRY, 2018–2021 (USD BILLION) 157 TABLE 89 SOUTH AMERICA: MICROGRID MARKET, BY COUNTRY, 2022–2027 (USD BILLION) 157 TABLE 90 SOUTH AMERICA: MICROGRID MARKET, BY CONNECTIVITY, 2018–2021 (USD BILLION) 157 TABLE 91 SOUTH AMERICA: MICROGRID MARKET, BY CONNECTIVITY, 2022–2027 (USD BILLION) 157 TABLE 92 SOUTH AMERICA: MICROGRID MARKET, BY OFFERING, 2018–2021 (USD BILLION) 158 TABLE 93 SOUTH AMERICA: MICROGRID MARKET, BY OFFERING, 2022–2027 (USD BILLION) 158 TABLE 94 SOUTH AMERICA: MICROGRID HARDWARE MARKET, BY TYPE, 2018–2021 (USD BILLION) 158 TABLE 95 SOUTH AMERICA: MICROGRID HARDWARE MARKET, BY TYPE, 2022–2027 (USD BILLION) 158 TABLE 96 SOUTH AMERICA: MICROGRID MARKET, BY END USER, 2018–2021 (USD BILLION) 159 TABLE 97 SOUTH AMERICA: MICROGRID MARKET, BY END USER, 2022–2027 (USD BILLION) 159 13.2.2.1 Brazil 160 13.2.2.1.1 Brazil held largest size of microgrid market in South America in 2021 160 13.2.2.2 Argentina 160 13.2.2.2.1 Focus on renewable energy sources and development of smart grids 160 13.2.2.3 Rest of South America 160 13.3 EUROPE 160 FIGURE 69 EUROPE: MICROGRID MARKET SNAPSHOT 161 TABLE 98 EUROPE: MICROGRID MARKET, BY COUNTRY, 2018–2021 (USD BILLION) 162 TABLE 99 EUROPE: MICROGRID MARKET, BY COUNTRY, 2022–2027 (USD BILLION) 162 TABLE 100 EUROPE: MICROGRID MARKET, BY CONNECTIVITY, 2018–2021 (USD BILLION) 162 TABLE 101 EUROPE: MICROGRID MARKET, BY CONNECTIVITY, 2022–2027 (USD BILLION) 163 TABLE 102 EUROPE: MICROGRID MARKET, BY OFFERING, 2018–2021 (USD BILLION) 163 TABLE 103 EUROPE: MICROGRID MARKET, BY OFFERING, 2022–2027 (USD BILLION) 163 TABLE 104 EUROPE: MICROGRID HARDWARE MARKET, BY TYPE, 2018–2021 (USD BILLION) 163 TABLE 105 EUROPE: MICROGRID HARDWARE MARKET, BY TYPE, 2022–2027 (USD BILLION) 164 TABLE 106 EUROPE: MICROGRID MARKET, BY END USER, 2018–2021 (USD BILLION) 164 TABLE 107 EUROPE: MICROGRID MARKET, BY END USER, 2022–2027 (USD BILLION) 164 TABLE 108 MICROGRID PROJECTS IN EUROPE FROM 2018 TO 2021 165 13.3.1 UK 165 13.3.1.1 Rising use of microgrids to reduce wastage of heat generated by traditional systems 165 TABLE 109 MICROGRID PROJECTS IN UK FROM 2018 TO 2021 166 13.3.2 GERMANY 166 13.3.2.1 Surging adoption of microgrids due to government initiatives 166 13.3.3 FRANCE 166 13.3.3.1 Increasing government investments to promote adoption of microgrids 166 13.3.4 ITALY 167 13.3.4.1 Growing installations of PV systems to boost demand for microgrids 167 13.3.5 REST OF EUROPE 167 13.4 ASIA PACIFIC 167 FIGURE 70 ASIA PACIFIC: MICROGRID MARKET SNAPSHOT 168 TABLE 110 ASIA PACIFIC: MICROGRID MARKET, BY COUNTRY, 2018–2021 (USD BILLION) 169 TABLE 111 ASIA PACIFIC: MICROGRID MARKET, BY COUNTRY, 2022–2027 (USD BILLION) 169 TABLE 112 ASIA PACIFIC: MICROGRID MARKET, BY CONNECTIVITY, 2018–2021 (USD BILLION) 169 TABLE 113 ASIA PACIFIC: MICROGRID MARKET, BY CONNECTIVITY, 2022–2027 (USD BILLION) 170 TABLE 114 ASIA PACIFIC: MICROGRID MARKET, BY OFFERING, 2018–2021 (USD BILLION) 170 TABLE 115 ASIA PACIFIC: MICROGRID MARKET, BY OFFERING, 2022–2027 (USD BILLION) 170 TABLE 116 ASIA PACIFIC: MICROGRID HARDWARE MARKET, BY TYPE, 2018–2021 (USD BILLION) 170 TABLE 117 ASIA PACIFIC: MICROGRID HARDWARE MARKET, BY TYPE, 2022–2027 (USD BILLION) 171 TABLE 118 ASIA PACIFIC: MICROGRID MARKET, BY END USER, 2018–2021 (USD BILLION) 171 TABLE 119 ASIA PACIFIC: MICROGRID MARKET, BY END USER, 2022–2027 (USD BILLION) 171 13.4.1 AUSTRALIA 172 13.4.1.1 Rising shift to microgrids due to surging prices of traditional grid electricity 172 TABLE 120 MICROGRID PROJECTS IN AUSTRALIA FROM 2018 TO 2020 172 13.4.2 CHINA 172 13.4.2.1 Increasing government initiatives to promote use of clean energy 172 13.4.3 JAPAN 173 13.4.3.1 Growing need for reliable power supply fueling growth of microgrid market 173 13.4.4 SOUTH KOREA 173 13.4.4.1 South Korea to record highest CAGR in microgrid market during forecast period 173 13.4.5 REST OF ASIA PACIFIC 173 TABLE 121 MICROGRID PROJECTS IN REST OF ASIA PACIFIC FROM 2018 TO 2021 174 13.5 ROW 175 TABLE 122 ROW: MICROGRID MARKET, BY REGION, 2018–2021 (USD BILLION) 175 TABLE 123 ROW: MICROGRID MARKET, BY COUNTRY, 2022–2027 (USD BILLION) 175 TABLE 124 ROW: MICROGRID MARKET, BY CONNECTIVITY, 2018–2021 (USD BILLION) 175 TABLE 125 ROW: MICROGRID MARKET, BY CONNECTIVITY, 2022–2027 (USD BILLION) 176 TABLE 126 ROW: MICROGRID MARKET, BY OFFERING, 2018–2021 (USD BILLION) 176 TABLE 127 ROW: MICROGRID MARKET, BY OFFERING, 2022–2027 (USD BILLION) 176 TABLE 128 ROW: MICROGRID HARDWARE MARKET, BY TYPE, 2018–2021 (USD BILLION) 176 TABLE 129 ROW: MICROGRID HARDWARE MARKET, BY TYPE, 2022–2027 (USD BILLION) 177 TABLE 130 ROW: MICROGRID MARKET, BY END USER, 2018–2021 (USD BILLION) 177 TABLE 131 ROW: MICROGRID MARKET, BY END USER, 2022–2027 (USD BILLION) 177 13.5.1 MIDDLE EAST 178 13.5.1.1 Growth of healthcare sector and rising demand for reliable power supply contribute to growth of microgrid market 178 13.5.2 AFRICA 178 13.5.2.1 Surging number of microgrid projects in region due to various government initiatives 178 TABLE 132 MICROGRID PROJECTS IN AFRICA FROM 2018 TO 2020 179 14 COMPETITIVE LANDSCAPE 180 14.1 INTRODUCTION 180 14.2 KEY PLAYER STRATEGIES/RIGHT TO WIN 180 TABLE 133 OVERVIEW OF STRATEGIES ADOPTED BY KEY PLAYERS IN MICROGRID MARKET 180 14.3 MARKET SHARE ANALYSIS 183 FIGURE 71 MICROGRID MARKET: MARKET SHARE ANALYSIS 183 TABLE 134 MICROGRID MARKET: DEGREE OF COMPETITION 184 14.4 HISTORICAL REVENUE ANALYSIS (2017–2021) 185 FIGURE 72 REVENUE ANALYSIS OF KEY COMPANIES IN PAST FIVE YEARS 185 14.5 COMPANY EVALUATION QUADRANT, 2021 187 FIGURE 73 MICROGRID MARKET (GLOBAL) COMPANY EVALUATION MATRIX, 2021 187 14.5.1 STARS 188 14.5.2 EMERGING LEADERS 188 14.5.3 PERVASIVE COMPANIES 188 14.5.4 PARTICIPANTS 188 14.6 COMPANY FOOTPRINT 189 TABLE 135 COMPANY FOOTPRINT 189 TABLE 136 COMPANY FOOTPRINT, BY OFFERING 190 TABLE 137 COMPANY FOOTPRINT, BY END USER 191 TABLE 138 COMPANY FOOTPRINT, BY REGION 192 14.7 SMALL AND MEDIUM-SIZED ENTERPRISES (SME) EVALUATION MATRIX 193 FIGURE 74 SME EVALUATION MATRIX, 2021 193 14.7.1 PROGRESSIVE COMPANIES 193 14.7.2 RESPONSIVE COMPANIES 194 14.7.3 DYNAMIC COMPANIES 194 14.7.4 STARTING BLOCKS 194 14.8 COMPETITIVE BENCHMARKING 194 TABLE 139 MICROGRID MARKET: DETAILED LIST OF KEY SMES 194 TABLE 140 MICROGRID MARKET: COMPETITIVE BENCHMARKING OF KEY PLAYERS (SMES) 195 14.9 COMPETITIVE SCENARIO AND TRENDS 196 14.9.1 PRODUCT LAUNCHES AND DEVELOPMENTS 196 TABLE 141 MICROGRID MARKET: PRODUCT LAUNCHES AND DEVELOPMENTS, JUNE 2018– FEBRUARY 2022 196 14.9.2 DEALS 202 TABLE 142 MICROGRID MARKET: DEALS, JANUARY 2018–JANUARY 2022 202 14.9.3 OTHERS 216 TABLE 143 MICROGRID MARKET: OTHERS 216 15 COMPANY PROFILES 217 (Business overview, Products/solutions/services offered, Recent developments & MnM View)* 15.1 KEY PLAYERS 217 15.1.1 SCHNEIDER ELECTRIC 217 TABLE 144 SCHNEIDER ELECTRIC: BUSINESS OVERVIEW 217 FIGURE 75 SCHNEIDER ELECTRIC: COMPANY SNAPSHOT 218 TABLE 145 SCHNEIDER ELECTRIC: PRODUCTS OFFERED 219 TABLE 146 SCHNEIDER ELECTRIC: PRODUCT LAUNCHES 220 TABLE 147 SCHNEIDER ELECTRIC: DEALS 221 TABLE 148 SCHNEIDER ELECTRIC: OTHERS 222 15.1.2 SIEMENS 223 TABLE 149 SIEMENS: BUSINESS OVERVIEW 223 FIGURE 76 SIEMENS: COMPANY SNAPSHOT 224 TABLE 150 SIEMENS: PRODUCTS OFFERED 225 TABLE 151 SIEMENS: PRODUCT LAUNCHES 225 TABLE 152 SIEMENS: DEALS 227 15.1.3 GENERAL ELECTRIC 231 TABLE 153 GENERAL ELECTRIC: BUSINESS OVERVIEW 231 FIGURE 77 GENERAL ELECTRIC: COMPANY SNAPSHOT 232 TABLE 154 GENERAL ELECTRIC: PRODUCTS OFFERED 233 TABLE 155 GENERAL ELECTRIC: PRODUCT LAUNCHES 234 TABLE 156 GENERAL ELECTRIC: DEALS 235 15.1.4 EATON CORPORATION 240 TABLE 157 EATON CORPORATION: BUSINESS OVERVIEW 240 FIGURE 78 EATON CORPORATION: COMPANY SNAPSHOT 241 TABLE 158 EATON CORPORATION: PRODUCTS OFFERED 242 TABLE 159 EATON CORPORATION: PRODUCT LAUNCHES 243 TABLE 160 EATON CORPORATION: DEALS 244 TABLE 161 EATON CORPORATION: OTHERS 247 15.1.5 ABB 248 TABLE 162 ABB: BUSINESS OVERVIEW 248 FIGURE 79 ABB: COMPANY SNAPSHOT 249 TABLE 163 ABB: PRODUCTS OFFERED 249 TABLE 164 ABB: PRODUCT LAUNCHES 251 TABLE 165 ABB: DEALS 251 15.1.6 HITACHI ENERGY 254 TABLE 166 HITACHI ENERGY: BUSINESS OVERVIEW 254 TABLE 167 HITACHI ENERGY: PRODUCTS OFFERED 254 TABLE 168 HITACHI ENERGY: PRODUCT LAUNCHES 256 TABLE 169 HITACHI ENERGY: DEALS 256 15.1.7 HONEYWELL INTERNATIONAL INC. 259 TABLE 170 HONEYWELL INTERNATIONAL INC.: BUSINESS OVERVIEW 259 FIGURE 80 HONEYWELL INTERNATIONAL INC.: COMPANY SNAPSHOT 260 TABLE 171 HONEYWELL INTERNATIONAL INC.: PRODUCTS OFFERED 261 TABLE 172 HONEYWELL INTERNATIONAL INC.: PRODUCT LAUNCHES 261 TABLE 173 HONEYWELL INTERNATIONAL INC.: DEALS 262 15.1.8 HOMER ENERGY (PART OF UL) 263 TABLE 174 HOMER ENERGY: BUSINESS OVERVIEW 263 TABLE 175 HOMER ENERGY: PRODUCTS OFFERED 264 TABLE 176 HOMER ENERGY: PRODUCT LAUNCHES 265 TABLE 177 HOMER ENERGY: DEALS 267 15.1.9 S&C ELECTRIC COMPANY 268 TABLE 178 S&C ELECTRIC COMPANY: BUSINESS OVERVIEW 268 TABLE 179 S&C ELECTRIC COMPANY: PRODUCTS OFFERED 268 TABLE 180 S&C ELECTRIC COMPANY: PRODUCT LAUNCHES 270 TABLE 181 S&C ELECTRIC COMPANY: DEALS 271 TABLE 182 S&C ELECTRIC COMPANY: OTHERS 271 15.1.10 POWER ANALYTICS CORPORATION 272 TABLE 183 POWER ANALYTICS CORPORATION: BUSINESS OVERVIEW 272 TABLE 184 POWER ANALYTICS CORPORATION: PRODUCTS OFFERED 273 TABLE 185 POWER ANALYTICS CORPORATION: PRODUCT LAUNCHES 274 TABLE 186 POWER ANALYTICS CORPORATION: DEALS 275 *Details on Business overview, Products/solutions/services offered, Recent developments & MnM View might not be captured in case of unlisted companies. 15.2 OTHER PLAYERS 276 15.2.1 CATERPILLAR INC. 276 15.2.2 TESLA ENERGY (SUBSIDIARY OF TESLA) 277 15.2.3 EMERSON ELECTRIC 278 15.2.4 PARETO ENERGY 279 15.2.5 ANBARIC TRANSMISSION 279 15.2.6 EXELON CORPORATION 280 15.2.7 SPIRAE LLC 280 15.2.8 GENERAL MICROGRIDS 281 15.2.9 GRAM POWER INC. 282 15.2.10 POWERHIVE 283 15.2.11 ADVANCED MICROGRID SOLUTIONS 283 15.2.12 GO ELECTRIC 284 15.2.13 FERROAMP 284 15.2.14 CANOPY POWER 285 15.2.15 GREEN ENERGY CORP 285 16 APPENDIX 286 16.1 INSIGHTS FROM INDUSTRY EXPERTS 286 16.2 DISCUSSION GUIDE 286 16.3 KNOWLEDGE STORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL 290 16.4 AVAILABLE CUSTOMIZATIONS 292 16.5 RELATED REPORTS 292 16.6 AUTHOR DETAILS 293
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