The transmission and distribution of electricity from the power station to end users use a complex system called the electric grid. While transferring electricity there is a massive loss in transmission and distribution of electricity. To curb this problem microgrid has emerged as a leading technology to minimize the transmission losses. Microgrid is a fundamental solution for providing a secure and reliable power supply with increased efficiency. The microgrid is local energy grids that can operate either autonomously or while connected to a traditional grid.
Usually, microgrid consists of distributed generation sources, particularly renewable energy sources such as solar and wind, accompanied by an energy storage device that includes a set of batteries. The system is controlled through a microgrid controller incorporating demand-response so that demand can be matched to available supply in an efficient and optimized manner.
Microgrid not only offers a safe and reliable source of power but also increases the optimal use of energy which is expected to increase the growth of the microgrid in the market. It offers power resilience against natural disasters like earthquakes, tsunamis, and storms. Increasing deployment of microgrid is the use of artificial intelligence (AI) which allows continuous adaptation and improvement of the operation of microgrid controllers which drive the market of microgrid.
Top Players Overview:
Some of the leading players operating in the Microgrid Market include;
- Schneider Electric
- Schweitzer Engineering Laboratories (SEL)
- S&C Electric Company
- PowerSecure Lighting – Solais + EnergyLite
- Emerson Automation Solutions
- Power Analytics Corporation
the global microgrid market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. North America is most prone to natural disasters such as wildfires, tornadoes, thunderstorms, floods, hurricanes, volcanoes, etc. which disturb the operation of the national grid. In this case, the microgrid provides a safe and reliable power supply in remote areas. The United States houses some of the prestigious institutions in the world along with top tech companies where microgrid can be deployed for continuous power supply.
Europe is adopting clean energy policies to combat serious environmental threats. Microgrid is possibly the best option to provide clean energy as it coupled with conventional power sources and renewable power sources to generate electricity. Countries like Denmark, Austria, Latvia, etc. are producing more energy by using renewables. Microgrid offers higher power resiliency and efficient in power transmission in remote areas which expected to increase the growth of the microgrid in Europe.
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Key Segmental Overview:
- By Tire Source
- By Type
- By Application
- By Geography
In Africa most locality is residing in villages where grid infrastructure is not available; microgrid is gaining popularity in remote villages and isolated towns. As a result, most African countries and companies are adopting microgrid as a primary means of the power supply.
- North America (USA and Canada)
- Europe (UK, Germany, France, Italy, Spain, Russia and Rest of Europe)
- Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
- Latin America (Brazil, Mexico and Rest of Latin America)
- Middle East & Africa (South Africa, GCC and Rest of Middle East & Africa)
Major Table of Content for Microgrid Market:
- Executive Summary
- Market Dynamics
- Key Insights
- Global Microgrid Market Analysis, Insights and Forecast, 2014-2025
- North America Microgrid Market Analysis, Insights and Forecast, 2014-2025
- Europe Microgrid Market Analysis, Insights and Forecast, 2014-2025
- Asia Pacific Microgrid Market Analysis, Insights and Forecast, 2014-2025
- Middle East and Africa Microgrid Market Analysis, Insights and Forecast, 2014-2025
- Latin America Microgrid Market Analysis, Insights and Forecast, 2014-2025
- Competitive Landscape
- Company Profile