Global Microgrids Market report published by Accurize Market Research forecast that the global market is expected to reach $32 billion by 2025; growing at a CAGR of 19.5% from 2017 to 2025. By geography, Asia Pacific and North America are expected to grow at a CAGR of XX% and XX%, respectively, during the forecast period.
The high implementation of software across industrial and commercial sites, university campuses, municipalities, and utilities to drive the growth of the market
The high implementation of software across industrial and commercial sites, university campuses, municipalities, and utilities fuels the demand for the global microgrids market. Furthermore, the expansion of electricity infrastructure in developing countries also boosts the growth of the market.
The global microgrids market has been bifurcated on the basis of type, offering, vertical and geography. Grid connected and Remote/Island/off-grid are covered under type segment. Offering segment contains hardware, software and services. Further, vertical segment include educational institutes, industrial, military, healthcare, Government & utilities and others. By geography the market is segmented into North America, Europe, Asia-Pacific and Rest of the World (RoW).
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Top players in the market
The key market players include Abb Ltd., Advanced Microgrid Solutions Llc, Alstom Power Ltd., Ampard Ag, Anbaric Transmission Llc, Aquion Energy, Azure Power Global Ltd., Black & Veatch, Bosch Building Grid Technologies (Bgt), Burns Engineering, Byd Company Ltd., Canadian Solar Solutions Inc., Capstone Turbine Corp., Carnegie Clean Energy Ltd., Caterpillar Inc., Cenergy Power, China Singyes Solar Technologies Holdings Ltd., Cleanspark Inc., Constellation Energy Group Inc., Eaton Corp. Plc. and Electro Power Systems Sa, among others.