Microgrid Service Market Analysis, Regional Analysis 2020: 2027
Microgrid Service Market Scenario:
Market research Future (MRFR), the global Microgrid as a Service (MaaS) market is expected to reach a valuation of USD 2020 Mn at a CAGR of 16% over the forecast period of 2020-2027. The global Microgrid Service Market was valued at USD 772 Mn in 2027.
To address the problems associated with power resiliency, alternative energy options such as advanced microgrids are being considered. Microgrids are a distribution network of distributed energy resources (DER) that is capable of islanding regardless of being connected to a traditional utility power grid. Microgrid-as-a-Service (MaaS) or reliability-as-a-service is a new business model which can be used in generating and conserving energy without financial strain. They are a good source of income for consumers owing to its ensured reliability and resilience.
The COVID-19 pandemic disruption is estimated to transform the Microgrid Service Market in the years to come drastically, and its after-effects will be persistently seen in the years ahead. The MRFR report on the Microgrid Service Market meticulously tracks the COVID-19 pandemic effect for the years ahead. Moreover, the precise analysis of drivers and restraints in a post-COVID-19 market offers a coherent understanding of future growth cues
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The notable players in the global Microgrid Service Market include General Electric (U.S.), Exelon Corp. (U.S.), Eaton Corp. PLC (Ireland), Northern Power Systems Corp. (U.S.), Spirae, Inc. (U.S.), NRG Energy, Inc. (U.S.), Schneider Electric SE (France), ABB Ltd. (Switzerland), Siemens AG (Germany), and Duke Energy Corporation (U.S.).
· The global Microgrid Service Market has been segmented based on grid type, service type, and industry.
· By grid type, the global Microgrid Service Market has been segmented into Grid connected and remote/Islanded.
· By service type, the global Microgrid Service Market has been segmented into Service, Monitoring & Control Service, and Operation & Maintenance Service.
· By industry, the global Microgrid Service Market has been segmented into Manufacturing, Residential & Commercial, Military, and Utility.
By region, the global Microgrid Service Market has been segmented into North America, Asia market. The United States Department of Energy encourages the adoption of microgrid which has resulted in increased adoption of MaaS in various government as well as private projects.Pacific (APAC), Europe, and the Rest of the World (RoW).
APAC is leading the global Microgrid Service Market. Increased demand for power due to rapid industrialization, high penetration of automation across industries in the region. In addition, government initiatives towards the electrification of rural areas in developing countries such as India, China, and Japan generate massive demand for MaaS. Additionally, increasing demand for renewable energy sources acts as a plus for the growth of the market.
North America is a significant market for MaaS which is likely to exhibit substantial growth over the forecast period. Persistent development in the power sector in the region can be credited for the growth of the
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Table of Contents:
1 Market Introduction
2 Research Methodologies
2.1 Research Type
2.2 Primary Research
2.3 Secondary Research
2.4 Forecast Model
2.4.1 Market Data Collection, Analysis & Forecast
2.4.2 Market Size Estimation
2.4.3 Market Crackdown & Data Triangulation
3 Global Microgrid Service Market: Overview
3.1.2 Market Segmentation Of Microgrid Service Market
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