Lewes, DE -- (SBWIRE) -- 09/01/2016 -- Report forecast the global microgrid market to grow at a CAGR of 13.67% during the period 2016-2020.

A microgrid is a smaller version of a conventional centralized electrical grid. It is capable of producing power, distributing it, and controlling the flow of energy supplied to consumers within a specified geography. It can function autonomously or operate parallel with a conventional grid. However, compared with a conventional grid, the power generated by a microgrid is supplied to establishments or houses that are situated in close proximity to the plant. This reduces transmission and distribution losses, which are generally associated with centralized power generation.

The report covers the present scenario and the growth prospects of the global microgrid market for 2016-2020. To calculate the market size, the report considers the revenue generated from the demand generated by different end-users in any region in the microgrid market.

The market is divided into the following segments based on geography:
- Americas
- APAC
- EMEA

According to the report, rise in natural calamities will be a key driver for market growth. Natural disasters are making a business case for microgrids, and are driving their adoption across the world, especially in regions that are frequently affected by natural calamities, such as the southern part of the US. As a large portion of the power can be generated on site, microgrids provide a higher degree of reliability for mission-critical facilities such as military base, hospitals, and data centers that need to function continuously under any circumstance.

Further, the report states that high implementation costs will be a challenge for the market. A microgrid is built according to the needs of a variety of dynamic load types and is capable of operating under various grid conditions. However, most microgrids are usually built upon existing infrastructure, so there is no fixed cost for a microgrid. Depending on the project needs, a microgrid can cost as low as $250,000 to about $100 million.

Global Microgrid Market 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

key players in the global microgrid market: ABB, GE-Alstom Energy, Lockheed Martin, Schneider Electric, and Siemens.

Other Prominent Vendors in the market are: Chevron Energy, Cummins, Echelon, Encorp, General Microgrids, Honeywell, Mera Gao Power, Microgrid Solar, Pareto Energy¸ Power Analytics, S&C Electric Company, SMA, Spirae, and Toshiba.

Market driver
- Need for better power system compared with traditional grids
- For a full, detailed list, view our report

Market challenge
- High implementation costs
- For a full, detailed list, view our report

Market trend
- Rise in demand for microgrids in military applications
- For a full, detailed list, view our report

Key questions answered in this report
- What will the market size be in 2020 and what will the growth rate be?
- What are the key market trends?
- What is driving this market?
- What are the challenges to market growth?
- Who are the key vendors in this market space?
- What are the market opportunities and threats faced by the key vendors?
- What are the strengths and weaknesses of the key vendors?

Spanning over 73 pages and 47 Exhibit "Global Microgrid Market 2016 - 2020" report covers Executive summary, Scope of the report, Market research methodology, Introduction, Market landscape, Market segmentation by application, Geographical segmentation, Key leading countries, Market drivers, Impact of drivers, Market challenges, Impact of drivers and challenges, Market trends, Vendor landscape, Key vendor analysis, Appendix.

For more information Visit at: http://www.marketresearchreports.com/technavio/global-microgrid-market-2016-2020

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