Microgrid Market Booming Trends and Forecast Assessment for the Period 2024 to 2030Posted by Sona Kulkarni on November 28th, 2023 Microgrid Market Growth & Trends The global microgrid market size is expected to reach USD 224.34 billion by 2030, registering a CAGR of 17.1% from 2024 to 2030, according to a new report by Grand View Research, Inc. The improvement in manufacturing sectors of emerging markets including Mexico, China, and India as a result of favorable government policies to attract investments is expected to promote market growth. Microgrid differs from conventional electrical distribution systems as it acts as a close proximity medium between the power generation and power consumption sources which results in increasing efficiency and reducing transmission losses. These systems perform dynamic control over energy sources by enabling autonomous as well as automatic self-healing operations. The rising importance of captive electricity generation as a key alternative to the regulated power supply by municipal regulators in mining and mechanical engineering sectors is expected to have a strong impact. Furthermore, the rising production output of unconventional sources including shale gas in the U.S. and Canada as a result of high utilization of fracking technology is expected to ensure access of natural gas as a power source over the next eight years. Request a free sample copy or view report summary: Microgrid Market Report Microgrid Market Report Highlights
Access Press Release@ https://www.grandviewresearch.com/press-release/global-microgrid-market Microgrid Market Segmentation Grand View Research has segmented the global microgrid market on the basis of on power source, product, application, and region: Microgrid Power Source Outlook (Volume, MW; Revenue, USD Million, 2018 - 2030)
Microgrid Product Outlook (Volume, MW; Revenue, USD Million, 2018 - 2030)
Microgrid Application Outlook (Volume, MW; Revenue, USD Million, 2018 - 2030)
Microgrid Regional Outlook (Volume, MW; Revenue, USD Million, 2018 - 2030)
List of Key Players in the Microgrid Market
About Grand View Research Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare. Like it? Share it!More by this author
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