The global microgrid technologies market totaled $12.7 billion in 2017 and is estimated to reach nearly $31.2 billion by 2022, growing at a compound annual growth rate (CAGR) of 19.6% for the period of 2017-2022.
Albany, NY -- (SBWIRE) -- 04/17/2018 -- A new research study titled "Microgrids: Technologies and Global Markets" has recently been submitted to the vast database of Market Research Hub (MRH). The report offers detailed information and analysis on the global microgrid technologies market, highlighting the key developments that are likely to influence this landscape in the short and long run.
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The report is a holistic source of information and analysis that offers stakeholders insights on the key factors at play in this landscape. An in-depth assessment on the drivers, restraints, opportunities, and threats has been offered in the report. The business and product strategies of some of the leading players in the market has been analyzed in detail in the report.
According to the report, increasing emphasis on reducing power losses, combined with increasing the efficiency of the power transmission system is driving the adoption of advanced microgrid technologies around the globe. According to the report, developing countries around the world, such as China and India are investing heavily in boosting their infrastructure, which has led to a spike in power generation projects. The demand for microgrid technologies in these emerging markets is likely to create growth opportunities for market participants during the assessment period.
The report includes a detailed segmentation to offer readers seamless information on the most lucrative and sluggish pockets of growth. The goal of the detailed segmentation is to offer readers holistic insights and analysis on all the components of a market. The segment-wise analysis also helps in understanding the market at an intrinsic level. Readers can expect market forecasting and analysis on the basis of various parameters.
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The global market is segmented on the basis of application, power source, connection type, product type and region. The product type segment is further sub-segmented into services, hardware and software. The connection type segment divides the global market into hybrid and grid-connected. By power source, the global market has been divided into wind-powered, solar PV-powered, CHP-powered and diesel powered. The application segment is also sub-segmented into military, commercial & industrial, institutional and healthcare/government. Geographically, the market is divided into key regions which are North America, Latin America, Europe, Asia-Pacific and Middle East and Africa.
North America and Asia Pacific are among the prominent markets for microgrids technologies and global markets. The adoption of microgrids technologies in North America is concentrated in the US, whereas China and India are among the leading markets in Asia Pacific.
Some of the leading companies profiled in the report are ABB LTD., AMPARD AG, ALSTOM POWER LTD., ANBARIC TRANSMISSION LLC, AZURE POWER GLOBAL LTD., AQUION ENERGY, BLACK & VEATCH, BURNS ENGINEERING, BOSCH BUILDING GRID TECHNOLOGIES (BGT).
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