Microgrid Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026

Global Microgrid Market Report by The Business Research Company covers the microgrid market drivers, restraints, size, major players, & the impact of COVID-19

LONDON, GREATER LONDON, UK, May 3, 2022 /EINPresswire.com/ -- According to ‘Microgrid Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026’ published by The Business Research Company, the microgrid market size is expected to grow from $9.63 billion in 2021 to $11.9 billion in 2022 at a compound annual growth rate (CAGR) of 23.6%. The global microgrids market size is expected to grow to $25.04 billion in 2026 at a CAGR of 20.4%. The growing adoption of microgrids for rural electrification is expected to propel the microgrid market growth going forward.

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

Global Microgrid Market Trends
The growing adoption of microgrids for rural electrification is expected to propel the growth of the microgrid market going forward. Rural electrification is progressing, with plans to provide energy 24 hours a day and connect rural communities, including micro, small, and medium enterprises (MSME) businesses. For rural electrification, microgrids have several advantages over centralized infrastructure, including cost savings, environmental sustainability, and regional equity between urban and rural areas.

Global Microgrid Market Segments
The global microgrid market is segmented:
By Type: AC Microgrids, DC Microgrids, Hybrid Microgrids
By Connectivity: Grid Connected, Off-Grid Connected
By Component: Hardware, Software, Services
By Application: Remote Systems, Institutional Buildings, Commercial Utility
By End-User: Commercial and Industrial, Institutes and Campuses, Military
By Geography: The global microgrids market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, North America accounts for the largest share.

Read more on the global microgrid market report at:
https://www.thebusinessresearchcompany.com/report/microgrid-global-market-report

Microgrid Global Market Report 2022 is one of a series of new reports from The Business Research Company that provides microgrid global market overviews, microgrid global market analysis and microgrid global market forecast market size and growth, microgrid global market share, microgrid global market segments and geographies, microgrid market players, microgrid market leading competitor revenues, profiles and market shares. The microgrid market report identifies top countries and segments for opportunities and strategies based on market trends and key competitors’ approaches.

TBRC’s Microgrid Global Market Report 2022 includes information on the following:
Data Segmentations: Market Size, Global, By Region and Country, Historic and Forecast, and Growth Rates for 60 Geographies

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

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

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

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About The Business Research Company:
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