Summary

The global microgrid market is estimated to grow from USD 24.6 billion in 2021 to USD 42.3 billion by 2026 at a CAGR of 11.4% during 2021–2026. The growth of the microgrid market is driven by factors such as rising focus on decarbonization by various end users and government, increasing demand for uninterrupted power supply, growing adoption of microgrids for rural electrification, and rising instances of cyberattacks on energy infrastructures. Initiatives by governments of different countries to encourage the development of microgrids are also fueling the growth of the market.
“Grid connected segment to register higher CAGR during the forecast period”
The grid connected segment of the microgrid market is projected to register the highest CAGR during the forecast period, by connectivity. They offer a number of benefits, such as grid resiliency, improved power quality, and low impact on the environment, thereby leading to increased demand. The growth of this segment can be attributed to the expansion of utility-based grid networks globally, coupled with the large-scale harnessing of renewable sources of energy, including offshore winds.
“ Hardware segment is estimated to hold the largest share of the market during the forecast period”
The hardware segment of the microgrid market is estimated to register the largest market share in 2026, by offering. The hardware of microgrids comprises power generators, energy storage & distribution systems, and controllers. The key drivers for the growth of the microgrid market for the hardware segment include the growing number of microgrid projects worldwide, decreasing costs of energy storage and renewable sources of energy, and increasing government initiatives to promote the use of clean energy and minimize greenhouse gas (GHG) emissions.
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“Controllers for microgrid hardware segment to register higher CAGR during the forecast period”
The controllers segment of the microgrid hardware market is projected to register the highest CAGR during the forecast period, by hardware type. Smart meters are expected to witness increased demand globally due to the growing requirement for record maintenance by utility companies for monitoring and billing purposes. Smart meters enable remote data collection for billing and offer improved power quality (PQ).

“Remote segment is estimated to hold the largest share of the market during the forecast period”
The remote segment of the microgrid market is estimated to register the largest market share in 2026, by end use. Key factors driving the demand for microgrids for rural electrification are the growing government support and surge in the deployment of microgrid projects in remote areas. Governments of different countries are increasingly investing in the development of electricity infrastructures to provide low-cost and clean electricity. This results in increased demand for microgrids in remote areas to generate power, as well as to manage and control distributed energy resources.

“APAC is projected to become the fastest geographical market between 2021 and 2026”
APAC is expected to witness the highest CAGR in the microgrid market during the forecast period. The growth of the market in APAC can be attributed to the high rate of rural electrification in several economies such as India, Malaysia, and the Philippines. The large number of unelectrified islands in Indonesia and the Philippines, and the lack of proper electricity infrastructure in emerging economies led to the demand for cost-effective microgrids in the region. This is expected to contribute to the growth of the microgrid market in APAC during the forecast period.

Breakdown of profiles of primary participants:
• By Company: Tier 1 = 50%, Tier 2 = 30%, and Tier 3 = 20%
• By Designation: C-level Executives = 35%, Directors = 30%, and Others (sales, marketing, and product managers, as well as members of various organizations) = 35%
• By Region: Americas = 40%, Europe= 25%, APAC=20%, and ROW=15%
Major players profiled in this report:
The microgrid market is dominated by a few established players such as ABB (Switzerland), General Electric Company (US), Siemens (Germany), Eaton Corporation (Ireland), and Schneider Electric (France).
Research coverage
This report offers detailed insights into the microgrid market based on connectivity (grid connected, off-grid connected), offering (hardware, software, services), type (AC microgrids, DC microgrids, hybrid), patterns (urban/metropolitan, semiurban, rural areas/ islands), end use (commercial & industrial, remote, institutes & campuses, government, utilities, military, and healthcare), and region (Americas, Europe, Asia Pacific (APAC), and Rest of the World (RoW) which includes the Middle East and Africa (MEA)) and Africa.
The report also provides a comprehensive review of microgrid market drivers, restraints, opportunities, and challenges in the market. The report also covers qualitative aspects in addition to the quantitative aspects of these markets.
Key Benefits of Buying the Report
The report will help the leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall market and the sub-segments. This report will help stakeholders understand the competitive landscape and gain more insights to better position their businesses and plan suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the microgrid market and provides them information on key market drivers, restraints, challenges, and opportunities.

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Table of Contents

1 INTRODUCTION 28
1.1 STUDY OBJECTIVES 28
1.2 DEFINITION AND SCOPE 28
1.2.1 INCLUSIONS AND EXCLUSIONS: OFFERING SEGMENT 29
1.2.2 INCLUSIONS AND EXCLUSIONS: OTHER SEGMENTS 29
1.3 STUDY SCOPE 30
1.3.1 MARKETS COVERED 30
FIGURE 1 MARKET SEGMENTATION 30
1.3.2 REGIONAL SCOPE 30
1.3.3 YEARS CONSIDERED 31
1.4 CURRENCY 31
1.5 LIMITATIONS 31
1.6 SUMMARY OF CHANGES 31
1.7 STAKEHOLDERS 32
2 RESEARCH METHODOLOGY 33
2.1 RESEARCH DATA 33
FIGURE 2 MICROGRID MARKET: RESEARCH DESIGN 33
2.1.1 SECONDARY DATA 34
2.1.1.1 Major secondary sources 34
2.1.1.2 Key data from secondary sources 35
2.1.2 PRIMARY DATA 35
2.1.2.1 Primary interviews with experts 35
2.1.2.2 List of key primary interview participants 36
2.1.2.3 Breakdown of primaries 36
2.1.2.4 Key data from primary sources 37
2.1.3 SECONDARY AND PRIMARY RESEARCH 38
2.1.3.1 Key industry insights 39
2.2 MARKET SIZE ESTIMATION 39
2.2.1 BOTTOM-UP APPROACH 39
2.2.1.1 Approach used to arrive at market size using bottom-up analysis 39
FIGURE 3 MARKET SIZE ESTIMATION METHODOLOGY: BOTTOM-UP APPROACH 40
2.2.1.2 Approach for obtaining company-specific information in microgrid value chain 40
2.2.2 TOP-DOWN APPROACH 40
2.2.2.1 Approach used to arrive at market size using top-down analysis 40
FIGURE 4 MARKET SIZE ESTIMATION METHODOLOGY: TOP-DOWN APPROACH 41
2.2.3 MICROGRID MARKET: SUPPLY-SIDE ANALYSIS 41
FIGURE 5 MARKET SIZE ESTIMATION METHODOLOGY: APPROACH 1 (SUPPLY SIDE): REVENUE GENERATED FROM SALES OF MICROGRIDS 41
FIGURE 6 MARKET SIZE ESTIMATION METHODOLOGY: APPROACH 2 (SUPPLY SIDE): REVENUE FROM MICROGRID HARDWARE, SOFTWARE & SERVICES 42
2.2.4 MICROGRID MARKET: DEMAND-SIDE ANALYSIS 43
FIGURE 7 MARKET SIZE ESTIMATION METHODOLOGY: APPROACH 3 (DEMAND SIDE) – BOTTOM-UP APPROACH FOR ESTIMATION OF SIZE OF MICROGRID MARKET BASED ON REGION 43
2.2.5 GROWTH FORECAST ASSUMPTIONS 43
2.3 MARKET BREAKDOWN AND DATA TRIANGULATION 44
FIGURE 8 DATA TRIANGULATION METHODOLOGY 44
2.4 RESEARCH ASSUMPTIONS 45
3 EXECUTIVE SUMMARY 46
FIGURE 9 MICROGRID MARKET: PRE- AND POST-COVID-19 SCENARIO ANALYSIS, 2017–2026 (USD BILLION) 46
3.1 REALISTIC SCENARIO (POST-COVID-19) 47
3.2 OPTIMISTIC SCENARIO (POST-COVID-19) 47
3.3 PESSIMISTIC SCENARIO (POST-COVID-19) 47
FIGURE 10 MICROGRID MARKET FOR GRID CONNECTED SEGMENT TO RECORD HIGHEST CAGR FROM 2021 TO 2026 48
FIGURE 11 HARDWARE SEGMENT TO ACCOUNT FOR LARGEST SIZE OF MICROGRID MARKET FROM 2021 TO 2026 48
FIGURE 12 CONTROLLERS SEGMENT TO RECORD HIGHEST CAGR IN MICROGRID HARDWARE MARKET FROM 2021 TO 2026 49
FIGURE 13 REMOTE END USE SEGMENT TO HOLD LARGEST SHARE OF MICROGRID MARKET FROM 2021 TO 2026 49
FIGURE 14 MICROGRID MARKET IN APAC TO RECORD HIGHEST CAGR DURING FORECAST PERIOD 50
4 PREMIUM INSIGHT 51
4.1 ATTRACTIVE GROWTH OPPORTUNITIES IN MICROGRID MARKET 51
FIGURE 15 INCREASING DEMAND FOR UNINTERRUPTED AND RELIABLE POWER SUPPLY DRIVING GROWTH OF MICROGRID MARKET 51
4.2 MICROGRID MARKET IN APAC, BY END USE AND COUNTRY 52
FIGURE 16 REMOTE SEGMENT AND AUSTRALIA TO ACCOUNT FOR LARGEST SHARES OF MICROGRID MARKET IN APAC IN 2020 52
4.3 MICROGRID MARKET, BY OFFERING 52
FIGURE 17 HARDWARE SEGMENT TO HOLD LARGEST SIZE OF MICROGRID MARKET DURING FORECAST PERIOD 52
4.4 MICROGRID MARKET, BY HARDWARE TYPE 53
FIGURE 18 POWER GENERATORS SEGMENT TO ACCOUNT FOR LARGEST SIZE OF MICROGRID HARDWARE MARKET FROM 2021 TO 2026 53
4.5 MICROGRID MARKET, BY CONNECTIVITY 53
FIGURE 19 GRID CONNECTED SEGMENT TO ACCOUNT FOR LARGER SIZE OF MICROGRID MARKET FROM 2021 TO 2026 53

4.6 MICROGRID MARKET, BY END USE 54
FIGURE 20 COMMERCIAL & INDUSTRIAL SEGMENT TO HOLD LARGEST SIZE OF MICROGRID MARKET DURING FORECAST PERIOD 54
4.7 REGIONAL ANALYSIS OF MICROGRID MARKET 54
FIGURE 21 AMERICAS TO HOLD LARGEST SHARE OF MICROGRID MARKET
FROM 2021 TO 2026 54
5 MARKET OVERVIEW 55
5.1 INTRODUCTION 55
5.2 MARKET DYNAMICS 55
FIGURE 22 MICROGRID MARKET: DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES 55
5.2.1 DRIVERS 56
5.2.1.1 Rising focus on decarbonization by various end users and governments 56
FIGURE 23 NUMBER OF MICROGRID PROJECTS, BY SIZE /CAPACITY (MW), 2017–2026 57
5.2.1.2 Increasing demand for uninterrupted and reliable power supply 57
FIGURE 24 ABB MICROGRID PROJECTS, 2000–2019 58
5.2.1.3 Growing adoption of microgrids for rural electrification 58
5.2.1.4 Rising instances of cyberattacks on energy infrastructures 58
FIGURE 25 DRIVERS AND THEIR IMPACT ON MICROGRID MARKET 59
5.2.2 RESTRAINTS 59
5.2.2.1 Huge installation and maintenance costs of microgrids 59
FIGURE 26 RESTRAINTS AND THEIR IMPACT ON MICROGRID MARKET 60
5.2.3 OPPORTUNITIES 60
5.2.3.1 Growing number of microgrid projects for different verticals 60
TABLE 1 MICROGRID PROJECTS IN VARIOUS VERTICALS WORLDWIDE 61
FIGURE 27 MICROGRID PROJECT COUNT, BY REGION, 2017–2026 62
5.2.3.2 Increasing energy demand and need for expansion of renewable energy in APAC 62
5.2.3.3 Rising investor interest in EaaS business model to minimize costs 63
TABLE 2 BUSINESS MODEL OF COMPANIES IN MICROGRID ECOSYSTEM 63
5.2.3.4 Government support to encourage development of microgrids 64
FIGURE 28 MICROGRID INSTALLED BASE, BY REGION, 2017–2026 (MW) 64
FIGURE 29 OPPORTUNITIES AND THEIR IMPACT ON MICROGRID MARKET 65
5.2.4 CHALLENGES 65
5.2.4.1 Lack of standard and regulatory frameworks related to microgrid operations 65
5.2.4.2 Technical challenges of island mode microgrids 66
FIGURE 30 CHALLENGES AND THEIR IMPACT ON MICROGRID MARKET 66

6 INDUSTRY TRENDS 67
6.1 INTRODUCTION 67
6.2 VALUE CHAIN ANALYSIS 67
FIGURE 31 MICROGRID MARKET: VALUE CHAIN ANALYSIS 67
6.3 ECOSYSTEM/MARKET MAP 69
TABLE 3 MICROGRID MARKET: SUPPLY CHAIN 69
6.4 TRENDS/DISRUPTIONS IMPACTING CUSTOMER’S BUSINESS 70
6.4.1 EMERGING AREAS AND REVENUE POCKETS FOR MICROGRID MARKET 70
FIGURE 32 REVENUE SHIFT FOR MICROGRID MARKET 70
6.5 KEY TECHNOLOGY TRENDS 71
6.5.1 BLOCKCHAIN BASED MICROGRIDS/ BLOCKCHAIN MICROGRID 71
6.5.2 SMART MICROGRIDS 71
6.5.3 ADVENT OF AI BASED MICROGRIDS 71
6.6 PRICING ANALYSIS 72
FIGURE 33 MICROGRID PRICING TREND FOR GRID STORAGE AND GRID GENERATION (USD MILLION/MW) 72
TABLE 4 MICROGRID SOFTWARE & SERVICE COST PER MONTH FOR DIFFERENT END USERS IN 2020 72
TABLE 5 AUTOMATION CONTROLLER PRICE FOR MICROGRIDS IN 2020 72
6.7 LIST OF KEY PATENTS AND INNOVATIONS 73
FIGURE 34 NUMBER OF PATENTS/DOCUMENTS FILED BY TOP APPLICANTS FOR MICROGRIDS WORLDWIDE, 2017–2020 73
FIGURE 35 COUNTRY-WISE ANALYSIS OF PATENTS FILED BY PLAYERS IN MICROGRID MARKET, 2017–2020 73
TABLE 6 KEY PATENTS AND INNOVATIONS IN MICROGRID MARKET, 2017–2021 74
6.8 TRADE DATA 77
TABLE 7 EXPORT DATA FOR ELECTRIC MOTORS AND GENERATORS,
HS CODE: 8501 (USD MILLION) 77
FIGURE 36 ELECTRIC MOTORS AND GENERATORS - EXPORT VALUE FOR MAJOR COUNTRIES, 2016–2020 77
TABLE 8 IMPORT DATA FOR ELECTRIC MOTORS AND GENERATORS,
HS CODE: 8501 (USD MILLION) 78
FIGURE 37 ELECTRIC MOTORS AND GENERATORS - IMPORT VALUE FOR MAJOR COUNTRIES, 2016–2020 78
6.9 CASE STUDIES: MICROGRID MARKET 79
6.9.1 GE: UNIVERSITY OF ONTARIO INSTITUTE OF TECHNOLOGY (CANADA) 79
TABLE 9 GE: BATTERY ENERGY STORAGE SYSTEM (BESS) FOR CAMPUS 79
6.9.2 GE: NAVY SHIPYARD PROJECT IN PHILADELPHIA (US) 79
TABLE 10 GE: MICROGRID ENERGY MANAGEMENT SYSTEM 79
6.9.3 HOMER ENERGY: ACE NATURAL, NEW YORK (US) 79
TABLE 11 HOMER ENERGY: HOMER GRID 79
6.9.4 S&C ELECTRIC: HALF MOON VENTURES, MINSTER, OHIO (US) 80
TABLE 12 S&C ELECTRIC: ENERGY STORAGE FOR MICROGRIDS 80
6.9.5 S&C ELECTRIC: ERGON ENERGY, QUEENSLAND (AUSTRALIA) 81
TABLE 13 S&C ELECTRIC: ENERGY STORAGE SYSTEM FOR MICROGRIDS 81
6.10 TARIFF AND REGULATORY LANDSCAPE 82
6.10.1 CARBON-REDUCTION POLICY TRENDS IN ENERGY 82
6.10.2 CLIMATE SOLUTIONS ACT 82
6.10.3 TARRIF AND REGULATIONS IN PRECISION FARMING AND SMART GREENHOUSES 82
TABLE 14 TARIFF REGULATIONS: PRECISION FARMING AND SMART GREENHOUSES 82
6.11 PORTER’S FIVE FORCES ANALYSIS 84
FIGURE 38 MICROGRID MARKET: PORTER’S FIVE FORCES ANALYSIS 84
TABLE 15 MICROGRID MARKET: PORTER’S FIVE FORCES ANALYSIS, 2020 84
6.11.1 THREAT OF NEW ENTRANTS 84
6.11.2 THREAT OF SUBSTITUTES 85
6.11.3 BARGAINING POWER OF SUPPLIERS 85
6.11.4 BARGAINING POWER OF BUYERS 85
6.11.5 INTENSITY OF COMPETITIVE RIVALRY 85
7 MICROGRID MARKET, BY CONNECTIVITY 86
7.1 INTRODUCTION 87
TABLE 16 MICROGRID MARKET, BY CONNECTIVITY, 2017–2020 (USD BILLION) 87
FIGURE 39 GRID CONNECTED MICROGRIDS TO ACCOUNT FOR LARGER SIZE OF MICROGRID MARKET DURING FORECAST PERIOD 87
TABLE 17 MICROGRID MARKET, BY CONNECTIVITY, 2021–2026 (USD BILLION) 87
7.2 OFF-GRID CONNECTED 88
7.2.1 GROWING OFF-GRID SOLAR PROJECTS TO CREATE NEW MARKET OPPORTUNITIES 88
TABLE 18 OFF-GRID CONNECTED MARKET, BY REGION, 2017–2020 (USD BILLION) 88
FIGURE 40 AMERICAS TO HOLD LARGEST SIZE OF OFF-GRID CONNECTED MICROGRID MARKET DURING FORECAST PERIOD 89
TABLE 19 OFF-GRID CONNECTED MARKET, BY REGION, 2021–2026 (USD BILLION) 89
TABLE 20 OFF-GRID CONNECTED MARKET, BY END USER, 2017–2020 (USD BILLION) 90
TABLE 21 OFF-GRID CONNECTED MARKET, BY END USER, 2021–2026 (USD BILLION) 90
7.3 GRID CONNECTED 90
7.3.1 GRID CONNECTED SEGMENT ACCOUNTED FOR LARGER SIZE OF MICROGRID MARKET IN 2020 90
TABLE 22 GRID CONNECTED MARKET, BY REGION, 2017–2020 (USD BILLION) 91
TABLE 23 GRID CONNECTED MARKET, BY REGION, 2021–2026 (USD BILLION) 91
TABLE 24 GRID CONNECTED MARKET, BY END USER, 2017–2020 (USD BILLION) 92
TABLE 25 GRID CONNECTED MARKET, BY END USER, 2021–2026 (USD BILLION) 92
8 MICROGRID MARKET, BY OFFERING 93
8.1 INTRODUCTION 94
TABLE 26 MICROGRID MARKET, BY OFFERING, 2017–2020 (USD BILLION) 94
FIGURE 41 HARDWARE SEGMENT TO ACCOUNT FOR LARGEST SIZE OF MICROGRID MARKET DURING FORECAST PERIOD 94
TABLE 27 MICROGRID MARKET, BY OFFERING, 2021–2026 (USD BILLION) 95
TABLE 28 MICROGRID HARDWARE MARKET, BY TYPE, 2017–2020 (USD BILLION) 95
TABLE 29 MICROGRID HARDWARE MARKET, BY TYPE, 2021–2026 (USD BILLION) 95
8.2 HARDWARE 96
TABLE 30 MICROGRID HARDWARE MARKET, BY REGION, 2017–2020 (USD BILLION) 96
FIGURE 42 MICROGRID MARKET IN APAC TO WITNESS HIGHEST CAGR DURING FORECAST PERIOD 96
TABLE 31 MICROGRID HARDWARE MARKET, BY REGION, 2021–2026 (USD BILLION) 97
8.2.1 POWER GENERATORS 97
8.2.1.1 Power generators segment to account for largest size of microgrid hardware market from 2021 to 2026 97
TABLE 32 MICROGRID HARDWARE MARKET FOR POWER GENERATORS, BY REGION, 2017–2020 (USD BILLION) 98
TABLE 33 MICROGRID HARDWARE MARKET FOR POWER GENERATORS, BY REGION, 2021–2026 (USD BILLION) 98
8.2.2 ENERGY STORAGE & DISTRIBUTION SYSTEMS 98
8.2.2.1 Growing need for energy storage systems to optimize delivery of power 98
TABLE 34 MICROGRID HARDWARE MARKET FOR ENERGY STORAGE & DISTRIBUTION SYSTEMS, BY REGION, 2017–2020 (USD BILLION) 99
TABLE 35 MICROGRID HARDWARE MARKET FOR ENERGY STORAGE & DISTRIBUTION SYSTEMS, BY REGION, 2021–2026 (USD BILLION) 99
8.2.3 CONTROLLERS 99
8.2.3.1 Required to monitor and optimally carry out different functions of microgrids 99
TABLE 36 MICROGRID HARDWARE MARKET FOR CONTROLLERS, BY REGION,
2017–2020 (USD BILLION) 100
TABLE 37 MICROGRID HARDWARE MARKET FOR CONTROLLERS, BY REGION,
2021–2026 (USD BILLION) 100
8.3 SOFTWARE 101
8.3.1 SOFTWARE SEGMENT OF MICROGRID MARKET PROJECTED TO RECORD HIGHEST CAGR FROM 2021 TO 2026 101
TABLE 38 MICROGRID SOFTWARE MARKET, BY REGION, 2017–2020 (USD BILLION) 101
TABLE 39 MICROGRID SOFTWARE MARKET, BY REGION, 2021–2026 (USD BILLION) 101
8.4 SERVICES 102
8.4.1 RISING NUMBER OF MICROGRID INSTALLATIONS TO CREATE NEW OPPORTUNITIES FOR SERVICES SEGMENT 102
TABLE 40 MICROGRID SERVICES MARKET, BY REGION, 2017–2020 (USD BILLION) 103
TABLE 41 MICROGRID SERVICES MARKET, BY REGION, 2021–2026 (USD BILLION) 103
9 TYPES OF MICROGRIDS 104
9.1 INTRODUCTION 104
9.2 AC MICROGRIDS 104
9.2.1 ELIMINATE REQUIREMENT FOR INVERTERS TO SUPPLY POWER TO AC LOADS 104
9.3 DC MICROGRIDS 104
9.3.1 OFFER HIGHER EFFICIENCY, RELIABILITY, AND STABILITY 104
9.4 HYBRID 105
9.4.1 USE OF DIFFERENT ENERGY SOURCES FOR POWER GENERATION REDUCES DEPENDENCE ON FOSSIL FUEL 105
10 PATTERNS OF MICROGRIDS 106
10.1 INTRODUCTION 106
10.2 URBAN/METROPOLITAN 106
10.2.1 INCREASING DEVELOPMENT OF MICROGRIDS IN URBAN AREAS LEADING TO GROWTH OF MICROGRID MARKET 106
FIGURE 43 DRIVERS OF MICROGRID MARKET IN URBAN/METROPOLITAN SEGMENT 107
10.3 SEMIURBAN 107
10.3.1 GROWING INITIATIVES TO DEVELOP MICROGRIDS FOR SEMIURBAN AREAS IN VARIOUS COUNTRIES 107
10.4 RURAL/ISLAND 108
10.4.1 LARGE NUMBER OF ELECTRIFICATION PROJECTS LEADING TO GROWTH OF MICROGRID MARKET 108
11 MICROGRID MARKET, BY END USE 109
11.1 INTRODUCTION 110
TABLE 42 MICROGRID MARKET, BY END USE, 2017–2020 (USD BILLION) 110
FIGURE 44 REMOTE END USE SEGMENT TO ACCOUNT FOR LARGEST SIZE OF MICROGRID MARKET DURING FORECAST PERIOD 110
TABLE 43 MICROGRID MARKET, BY END USE, 2021–2026 (USD BILLION) 111
11.2 COMMERCIAL & INDUSTRIAL 111
11.2.1 COMMERCIAL & INDUSTRIAL SEGMENT TO RECORD HIGHEST CAGR FROM 2021 TO 2026 111
TABLE 44 MICROGRID MARKET FOR COMMERCIAL & INDUSTRIAL, BY REGION,
2017–2020 (USD BILLION) 112
TABLE 45 MICROGRID MARKET FOR COMMERCIAL & INDUSTRIAL, BY REGION,
2021–2026 (USD BILLION) 112
11.3 REMOTE 112
11.3.1 MICROGRID MARKET IN APAC FOR REMOTE SEGMENT TO RECORD HIGHEST CAGR FROM 2021 TO 2026 112
TABLE 46 MICROGRID MARKET FOR REMOTE, BY REGION, 2017–2020 (USD BILLION) 113
FIGURE 45 APAC TO WITNESS HIGHEST CAGR IN REMOTE END USE SEGMENT FROM 2021 TO 2026 113
TABLE 47 MICROGRID MARKET FOR REMOTE, BY REGION, 2021–2026 (USD BILLION) 114
11.4 INSTITUTES & CAMPUSES 114
11.4.1 INCREASED ADOPTION OF MICROGRIDS TO ENSURE UNINTERRUPTED POWER SUPPLY 114
TABLE 48 MICROGRID MARKET FOR INSTITUTES & CAMPUSES, BY REGION,
2017–2020 (USD BILLION) 115
TABLE 49 MICROGRID MARKET FOR INSTITUTES & CAMPUSES, BY REGION,
2021–2026 (USD BILLION) 115

11.5 GOVERNMENT 115
11.5.1 DECLINE IN PRICES OF ELECTRICITY GENERATED FROM RENEWABLE ENERGY SOURCES LEADING TO RISING ADOPTION OF MICROGRIDS 115
TABLE 50 MICROGRID MARKET FOR GOVERNMENT, BY REGION,
2017–2020 (USD BILLION) 116
TABLE 51 MICROGRID MARKET FOR GOVERNMENT, BY REGION,
2021–2026 (USD BILLION) 116
11.6 UTILITIES 116
11.6.1 MICROGRIDS PROVIDE UTILITIES WITH LESS EXPENSIVE ALTERNATIVE 116
TABLE 52 MICROGRID MARKET FOR UTILITIES, BY REGION, 2017–2020 (USD BILLION) 117
FIGURE 46 AMERICAS TO DOMINATE MICROGRID MARKET FOR MILITARY USE SEGMENT FROM 2021 TO 2026 117
TABLE 53 MICROGRID MARKET FOR UTILITIES, BY REGION, 2021–2026 (USD BILLION) 118
11.7 MILITARY 118
11.7.1 WIDE USE OF MICROGRIDS FOR ENERGY SECURITY AND RESILIENCY 118
TABLE 54 MICROGRID MARKET FOR MILITARY, BY REGION, 2017–2020 (USD BILLION) 119
TABLE 55 MICROGRID MARKET FOR MILITARY, BY REGION, 2021–2026 (USD BILLION) 119
11.8 HEALTHCARE 119
11.8.1 RISING ADOPTION OF MICROGRIDS IN HOSPITALS DURING COVID-19 PANDEMIC 119
TABLE 56 MICROGRID MARKET FOR HEALTHCARE, BY REGION,
2017–2020 (USD BILLION) 120
TABLE 57 MICROGRID MARKET FOR HEALTHCARE, BY REGION,
2021–2026 (USD BILLION) 120
12 GEOGRAPHIC ANALYSIS 121
12.1 INTRODUCTION 122
FIGURE 47 MICROGRID MARKET IN SOUTH KOREA TO RECORD HIGHEST CAGR FROM 2021 TO 2026 122
TABLE 58 MICROGRID MARKET, BY REGION, 2017–2020 (USD BILLION) 122
TABLE 59 MICROGRID MARKET, BY REGION, 2021–2026 (USD BILLION) 123
TABLE 60 MICROGRID INSTALLED CAPACITY, BY REGION, 2017–2020 (MW) 123
TABLE 61 MICROGRID INSTALLED CAPACITY, BY REGION, 2021–2026 (MW) 123
12.2 AMERICAS 124
FIGURE 48 AMERICAS: MICROGRID MARKET SNAPSHOT 124
TABLE 62 MICROGRID MARKET IN AMERICAS, BY REGION, 2017–2020 (USD BILLION) 125
TABLE 63 MICROGRID MARKET IN AMERICAS, BY REGION, 2021–2026 (USD BILLION) 125
TABLE 64 MICROGRID MARKET IN AMERICAS, BY CONNECTIVITY,
2017–2020 (USD BILLION) 125
TABLE 65 MICROGRID MARKET IN AMERICAS, BY CONNECTIVITY,
2021–2026 (USD BILLION) 125
TABLE 66 MICROGRID MARKET IN AMERICAS, BY OFFERING,
2017–2020 (USD BILLION) 126
TABLE 67 MICROGRID MARKET IN AMERICAS, BY OFFERING,
2021–2026 (USD BILLION) 126
TABLE 68 MICROGRID HARDWARE MARKET IN AMERICAS, BY TYPE,
2017–2020 (USD BILLION) 126
TABLE 69 MICROGRID HARDWARE MARKET IN AMERICAS, BY TYPE,
2021–2026 (USD BILLION) 126
TABLE 70 MICROGRID MARKET IN AMERICAS, BY END USE, 2017–2020 (USD BILLION) 127
TABLE 71 MICROGRID MARKET IN AMERICAS, BY END USE, 2021–2026 (USD BILLION) 127
12.2.1 NORTH AMERICA 127
TABLE 72 MICROGRID MARKET IN NORTH AMERICA, BY COUNTRY,
2017–2020 (USD BILLION) 128
TABLE 73 MICROGRID MARKET IN NORTH AMERICA, BY COUNTRY,
2021–2026 (USD BILLION) 128
TABLE 74 MICROGRID MARKET IN NORTH AMERICA, BY CONNECTIVITY,
2017–2020 (USD BILLION) 128
TABLE 75 MICROGRID MARKET IN NORTH AMERICA, BY CONNECTIVITY,
2021–2026 (USD BILLION) 128
TABLE 76 MICROGRID MARKET IN NORTH AMERICA, BY OFFERING,
2017–2020 (USD BILLION) 129
TABLE 77 MICROGRID MARKET IN NORTH AMERICA, BY OFFERING,
2021–2026 (USD BILLION) 129
TABLE 78 MICROGRID HARDWARE MARKET IN NORTH AMERICA, BY TYPE,
2017–2020 (USD BILLION) 129
TABLE 79 MICROGRID HARDWARE MARKET IN NORTH AMERICA, BY TYPE,
2021–2026 (USD BILLION) 130
TABLE 80 MICROGRID MARKET IN NORTH AMERICA, BY END USE,
2017–2020 (USD BILLION) 130
TABLE 81 MICROGRID MARKET IN NORTH AMERICA, BY END USER,
2021–2026 (USD BILLION) 130
12.2.1.1 US 131
12.2.1.1.1 Growing use of renewable energy sources in microgrids and presence of key players to drive market from 2021 to 2026 131
TABLE 82 MICROGRID PROJECTS IN THE US FROM 2017 TO 2020 132
12.2.1.2 Canada 132
12.2.1.2.1 Remote communities to create opportunities for microgrid developers 132
TABLE 83 MICROGRID PROJECTS IN CANADA FROM 2017 TO 2019 133
12.2.1.3 Mexico 133
12.2.1.3.1 Mexican market to record highest CAGR in
North America from 2021 to 2026 133
12.2.2 SOUTH AMERICA 133
TABLE 84 MICROGRID MARKET IN SOUTH AMERICA, BY COUNTRY,
2017–2020 (USD BILLION) 134
TABLE 85 MICROGRID MARKET IN SOUTH AMERICA, BY COUNTRY,
2021–2026 (USD BILLION) 134
TABLE 86 MICROGRID MARKET IN SOUTH AMERICA, BY CONNECTIVITY,
2017–2020 (USD BILLION) 134
TABLE 87 MICROGRID MARKET IN SOUTH AMERICA, BY CONNECTIVITY,
2021–2026 (USD BILLION) 134
TABLE 88 MICROGRID MARKET IN SOUTH AMERICA, BY OFFERING,
2017–2020 (USD BILLION) 135
TABLE 89 MICROGRID MARKET IN SOUTH AMERICA, BY OFFERING,
2021–2026 (USD BILLION) 135
TABLE 90 MICROGRID HARDWARE MARKET IN SOUTH AMERICA, BY TYPE,
2017–2020 (USD BILLION) 135
TABLE 91 MICROGRID HARDWARE MARKET IN SOUTH AMERICA, BY TYPE,
2021–2026(USD BILLION) 136
TABLE 92 MICROGRID MARKET IN SOUTH AMERICA, BY END USE,
2017–2020 (USD BILLION) 136
TABLE 93 MICROGRID MARKET IN SOUTH AMERICA, BY END USE,
2021–2026 (USD BILLION) 136
12.2.2.1 Brazil 137
12.2.2.1.1 Brazil to dominate microgrid market in South America from 2021 to 2026 137
12.2.2.2 Argentina 137
12.2.2.2.1 Focus on renewable energy sources and development of smart grids 137
12.2.2.3 Rest of South America 137
12.3 EUROPE 138
FIGURE 49 EUROPE: MICROGRID MARKET SNAPSHOT 139
TABLE 94 MICROGRID MARKET IN EUROPE, BY COUNTRY, 2017–2020 (USD BILLION) 140
TABLE 95 MICROGRID MARKET IN EUROPE, BY COUNTRY, 2021–2026 (USD BILLION) 140
TABLE 96 MICROGRID MARKET IN EUROPE, BY CONNECTIVITY,
2017–2020 (USD BILLION) 140
TABLE 97 MICROGRID MARKET IN EUROPE, BY CONNECTIVITY,
2021–2026 (USD BILLION) 141
TABLE 98 MICROGRID MARKET IN EUROPE, BY OFFERING, 2017–2020 (USD BILLION) 141
TABLE 99 MICROGRID MARKET IN EUROPE, BY OFFERING, 2021–2026 (USD BILLION) 141
TABLE 100 MICROGRID HARDWARE MARKET IN EUROPE, BY TYPE,
2017–2020 (USD BILLION) 141
TABLE 101 MICROGRID HARDWARE MARKET IN EUROPE, BY TYPE,
2021–2026 (USD BILLION) 142
TABLE 102 MICROGRID MARKET IN EUROPE, BY END USE, 2017–2020 (USD MILLION) 142
TABLE 103 MICROGRID MARKET IN EUROPE, BY END USE, 2021–2026 (USD MILLION) 142
TABLE 104 MICROGRID PROJECTS IN EUROPE FROM 2017 TO 2021 143
12.3.1 UK 143
12.3.1.1 Rising use of microgrids to reduce waste heat generated by traditional systems 143
TABLE 105 MICROGRID PROJECTS IN THE UK FROM 2017 TO 2021 144
12.3.2 GERMANY 144
12.3.2.1 Growing adoption of microgrids due to government initiatives 144
12.3.3 FRANCE 144
12.3.3.1 Increase in government investments to promote adoption of microgrids 144

12.3.4 ITALY 145
12.3.4.1 Rising installations of PV systems to boost demand for microgrids 145
12.3.5 REST OF EUROPE 145
TABLE 106 MICROGRID PROJECTS IN REST OF EUROPE FROM 2017 TO 2019 145
12.4 APAC 145
FIGURE 50 APAC: MICROGRID MARKET SNAPSHOT 146
TABLE 107 MICROGRID MARKET IN APAC, BY COUNTRY, 2017–2020 (USD BILLION) 147
TABLE 108 MICROGRID MARKET IN APAC, BY COUNTRY, 2021–2026 (USD BILLION) 147
TABLE 109 MICROGRID MARKET IN APAC, BY CONNECTIVITY,
2017–2020 (USD BILLION) 147
TABLE 110 MICROGRID MARKET IN APAC, BY CONNECTIVITY,
2021–2026 (USD BILLION) 148
TABLE 111 MICROGRID MARKET IN APAC, BY OFFERING, 2017–2020 (USD BILLION) 148
TABLE 112 MICROGRID MARKET IN APAC, BY OFFERING, 2021–2026 (USD BILLION) 148
TABLE 113 MICROGRID HARDWARE MARKET IN APAC, BY TYPE,
2017–2020 (USD BILLION) 148
TABLE 114 MICROGRID HARDWARE MARKET IN APAC, BY TYPE,
2021–2026 (USD BILLION) 149
TABLE 115 MICROGRID MARKET IN APAC, BY END USE, 2017–2020 (USD BILLION) 149
TABLE 116 MICROGRID MARKET IN APAC, BY END USE, 2021–2026 (USD BILLION) 149
12.4.1 AUSTRALIA 150
12.4.1.1 Australia to lead microgrid market in APAC from 2021 to 2026 150
TABLE 117 MICROGRID PROJECTS IN AUSTRALIA FROM 2017 TO 2020 150
12.4.2 CHINA 150
12.4.2.1 Increasing government initiatives to promote use of clean energy 150
TABLE 118 MICROGRID PROJECTS IN CHINA FROM 2017 TO 2018 151
12.4.3 JAPAN 151
12.4.3.1 Growing need for reliable power supply fueling growth of microgrid market 151
12.4.4 SOUTH KOREA 151
12.4.4.1 South Korea to record highest CAGR from 2021 to 2026 151
12.4.5 REST OF APAC 152
TABLE 119 MICROGRID PROJECTS IN REST OF APAC FROM 2017 TO 2021 152
12.5 ROW 153
TABLE 120 MICROGRID MARKET IN ROW, BY REGION, 2017–2020 (USD BILLION) 153
TABLE 121 MICROGRID MARKET IN ROW, BY REGION, 2021–2026 (USD BILLION) 153
TABLE 122 MICROGRID MARKET IN ROW, BY CONNECTIVITY, 2017–2020 (USD BILLION) 153
TABLE 123 MICROGRID MARKET IN ROW, BY CONNECTIVITY, 2021–2026 (USD BILLION) 154
TABLE 124 MICROGRID MARKET IN ROW, BY OFFERING, 2017–2020 (USD BILLION) 154
TABLE 125 MICROGRID MARKET IN ROW, BY OFFERING, 2021–2026 (USD BILLION) 154
TABLE 126 MICROGRID HARDWARE MARKET IN ROW, BY TYPE,
2017–2020 (USD BILLION) 154
TABLE 127 MICROGRID HARDWARE MARKET IN ROW, BY TYPE,
2021–2026 (USD BILLION) 155
TABLE 128 MICROGRID MARKET IN ROW, BY END USE, 2017–2020 (USD BILLION) 155
TABLE 129 MICROGRID MARKET IN ROW, BY END USE, 2021–2026 (USD BILLION) 155
12.5.1 MIDDLE EAST 156
12.5.1.1 Growth of healthcare sector and rising demand for reliable power supply contribute to growth of microgrid market 156
TABLE 130 MICROGRID PROJECTS IN THE MIDDLE EAST IN 2018 156
12.5.2 AFRICA 156
12.5.2.1 Africa to account for large share of RoW microgrid market
from 2021 to 2026 156
TABLE 131 MICROGRID PROJECTS IN AFRICA FROM 2017 TO 2020 157
13 COMPETITIVE LANDSCAPE 158
13.1 INTRODUCTION 158
TABLE 132 OVERVIEW OF STRATEGIES ADOPTED BY KEY MICROGRID PROVIDERS 158
FIGURE 51 PRODUCT LAUNCHES AND ACQUISITIONS STRATEGIES ADOPTED
BY KEY PLAYERS FROM FEBRUARY 2017 TO MAY 2021 161
13.2 MARKET SHARE ANALYSIS, 2020 162
TABLE 133 MICROGRID MARKET: DEGREE OF COMPETITION 162
13.3 REVENUE ANALYSIS 164
FIGURE 52 REVENUE ANALYSIS: TOP 5 PLAYERS 164
13.4 COMPANY EVALUATION QUADRANT 164
13.4.1 STARS 164
13.4.2 PERVASIVE 164
13.4.3 EMERGING LEADERS 164
13.4.4 PARTICIPANTS 164
FIGURE 53 MICROGRID MARKET (GLOBAL) COMPETITIVE LEADERSHIP MAPPING, 2020 165
13.5 SME EVALUATION MATRIX FOR MICROGRID MARKET, 2020 166
13.5.1 PROGRESSIVE COMPANIES 166
13.5.2 RESPONSIVE COMPANIES 166
13.5.3 DYNAMIC COMPANIES 166
13.5.4 STARTING BLOCKS 166
FIGURE 54 MICROGRID MARKET (GLOBAL) COMPETITIVE LEADERSHIP
MAPPING, SME ECOSYSTEM, 2020 167
13.6 COMPETITIVE BENCHMARKING 168
TABLE 134 COMPANY PRODUCT FOOTPRINT (25 COMPANIES) 168
TABLE 135 COMPANY OFFERINGS FOOTPRINT 169
TABLE 136 COMPANY END USE FOOTPRINT (25 COMPANIES) 170
TABLE 137 COMPANY REGION FOOTPRINT (25 COMPANIES) 171
13.7 COMPETITIVE SITUATION AND TRENDS 172
13.7.1 PRODUCT LAUNCHES AND DEVELOPMENTS 172
TABLE 138 MICROGRID MARKET: PRODUCT LAUNCHES, JANUARY 2017–MAY 2021 172
13.7.2 DEALS 176
TABLE 139 MICROGRID MARKET: DEALS, MARCH 2017–MAY 2021 176
14 COMPANY PROFILE 181
(Business Overview, Products Offered, Recent Developments, and MnM View (Key strengths/Right to Win, Strategic Choices Made, and Weaknesses and Competitive Threats))*
14.1 KEY PLAYERS 181
14.1.1 ABB (HITACHI ABB POWER GRIDS) 181
TABLE 140 ABB: BUSINESS OVERVIEW 181
FIGURE 55 ABB: COMPANY SNAPSHOT 182
TABLE 141 ABB: PRODUCT/SOLUTIONS/SERVICES OFFERINGS 182
TABLE 142 ABB: PRODUCT LAUNCHES 184
TABLE 143 ABB: DEALS 185
14.1.2 GENERAL ELECTRIC (GE) 190
TABLE 144 GENERAL ELECTRIC: BUSINESS OVERVIEW 190
FIGURE 56 GENERAL ELECTRIC: COMPANY SNAPSHOT 191
TABLE 145 GENERAL ELECTRIC: PRODUCT/SOLUTIONS/SERVICES OFFERINGS 191
TABLE 146 GENERAL ELECTRIC: PRODUCT LAUNCHES 193
TABLE 147 GENERAL ELECTRIC: DEALS 193
14.1.3 SIEMENS 198
TABLE 148 SIEMENS: BUSINESS OVERVIEW 198
FIGURE 57 SIEMENS: COMPANY SNAPSHOT 199
TABLE 149 SIEMENS: PRODUCT/SOLUTIONS/SERVICES OFFERINGS 199
TABLE 150 SIEMENS: PRODUCT LAUNCHES 200
TABLE 151 SIEMENS: DEALS 202
14.1.4 EATON CORPORATION 205
TABLE 152 EATON CORPORATION: BUSINESS OVERVIEW 205
FIGURE 58 EATON CORPORATION: COMPANY SNAPSHOT 206
TABLE 153 EATON CORPORATION: PRODUCT/SOLUTIONS/SERVICES OFFERINGS 206
TABLE 154 EATON CORPORATION: PRODUCT LAUNCHES 208
TABLE 155 EATON CORPORATION: DEALS 209
TABLE 156 EATON CORPORATION: OTHERS 211
14.1.5 SCHNEIDER ELECTRIC 213
TABLE 157 SCHNEIDER ELECTRIC: BUSINESS OVERVIEW 213
FIGURE 59 SCHNEIDER ELECTRIC: COMPANY SNAPSHOT 214
TABLE 158 SCHNEIDER ELECTRIC: PRODUCT/SOLUTIONS/SERVICES OFFERINGS 214
TABLE 159 SCHNEIDER ELECTRIC: PRODUCT LAUNCHES 215
TABLE 160 SCHNEIDER ELECTRIC: DEALS 216
TABLE 161 SCHNEIDER ELECTRIC: OTHERS 217
14.1.6 HONEYWELL 218
TABLE 162 HONEYWELL: BUSINESS OVERVIEW 218
FIGURE 60 HONEYWELL: COMPANY SNAPSHOT 219
TABLE 163 HONEYWELL: PRODUCT/SOLUTIONS/SERVICES OFFERINGS 219
TABLE 164 HONEYWELL: PRODUCT LAUNCHES 220
TABLE 165 HONEYWELL: DEALS 221
14.1.7 HOMER ENERGY 222
TABLE 166 HOMER ENERGY: BUSINESS OVERVIEW 222
TABLE 167 HOMER ENERGY: PRODUCT/SOLUTIONS/SERVICES OFFERINGS 222
TABLE 168 HOMER ENERGY: PRODUCT LAUNCHES 223
TABLE 169 HOMER ENERGY: DEALS 225
14.1.8 S&C ELECTRIC 226
TABLE 170 S&C ELECTRIC: BUSINESS OVERVIEW 226
TABLE 171 S&C ELECTRIC: PRODUCT/SOLUTIONS/SERVICES OFFERINGS 226
TABLE 172 S&C ELECTRIC: PRODUCT LAUNCHES 227
TABLE 173 S&C ELECTRIC: DEALS 228
TABLE 174 S&C ELECTRIC: OTHERS 228
14.1.9 POWER ANALYTICS 229
TABLE 175 POWER ANALYTICS: BUSINESS OVERVIEW 229
TABLE 176 POWER ANALYTICS: PRODUCT/SOLUTIONS/SERVICES OFFERINGS 230
TABLE 177 POWER ANALYTICS: PRODUCT LAUNCHES 231
TABLE 178 POWER ANALYTICS: DEALS 232
14.1.10 EXELON CORPORATION 233
TABLE 179 EXELON CORPORATION: BUSINESS OVERVIEW 233
FIGURE 61 EXELON CORPORATION: COMPANY SNAPSHOT 233
TABLE 180 EXELON CORPORATION: PRODUCT/SOLUTIONS/SERVICES OFFERINGS 234
TABLE 181 EXELON CORPORATION: DEALS 234
14.2 OTHER PLAYERS 235
14.2.1 PARETO ENERGY 235
14.2.2 ANBARIC TRANSMISSION 235
14.2.3 TESLA 236
14.2.4 SPIRAE 236
14.2.5 GENERAL MICROGRIDS 237
14.2.6 GRAM POWER 237
14.2.7 POWERHIVE 238
14.2.8 ADVANCED MICROGRID SOLUTIONS (AMS) 238
14.2.9 GO ELECTRIC 239
14.2.10 DAJIE 239
14.2.11 CANOPY POWER 240
14.2.12 GREEN ENERGY CORP 240
14.2.13 POWERSECURE, INC, A SUBSIDIARY OF SOUTHERN COMPANY 241
14.2.14 VIRIDITY ENERGY BY ORMAT TECHNOLOGIE 241
14.2.15 FERROAMP 242
*Details on Business Overview, Products Offered, Recent Developments, and MnM View (Key strengths/Right to Win, Strategic Choices Made, and Weaknesses and Competitive Threats) might not be captured in case of unlisted companies.

15 APPENDIX 243
15.1 INSIGHTS FROM INDUSTRY EXPERTS 243
15.2 DISCUSSION GUIDE 243
15.3 KNOWLEDGE STORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL 246
15.4 AVAILABLE CUSTOMIZATIONS 248
15.5 RELATED REPORTS 248
15.6 AUTHOR DETAILS 249