Microgrid Market worth $25.28 Bn by 2022, According to a New Study on ASDReports

Thursday 27 November 2014, Amsterdam

According to the new market research report on ASDReports, "Microgrid Market by Type (Hybrid, Off-Grid, Grid Connected), Component (Storage, Inverter), Technology (Fuel Cell, CHP), Consumer Pattern (Urban, Rural), Application (Campus, Commercial, Defense), and Geography - Global Forecast to 2022", the market estimated to grow at a CAGR of 17.36% from 2014 to 2022, which includes an in-depth analysis of the market by component, grid type, technology, application, and geography.

The global microgrid market is expected to grow at a CAGR of 17.36% from 2014 to 2022; it holds a great potential across the distributed power generation and industry. Microgrid systems areused in many applications to provide more accuracy for proper inspection in detecting flaws and amplifying weak electricity signals.

This report describes market trends, drivers, and challenges with respect to the global microgridmarket, and projects the market size from 2013 to 2022, based on different segments of the market such as technology, application, consumption pattern, grid types and geography. This report gives a detailed view of the market across regions, namely – the Americas, Europe, APAC and RoW (the Middle East and Africa). The North America dominates the microgrid market with regards to the market size in terms of value; however, APAC is expected to grow at the highest CAGR in the microgrid market.

The competitive landscape of the market presents a very interesting picture. The market is witnessing new product launches and large scale collaborations, and agreements and partnerships across the value chain, with a number of tier-one players around the globe.

Major players in the microgrid industry are ABB Ltd. (Switzerland), Siemens AG (Germany), Lockheed Martin (U.S.), GE Electric (U.S.), Chevron Energy (U.S.), Microgrid LLC (U.S.), Viridity Energy Inc. (U.S.), Spirae Inc. (U.S.), Pareto Energy (U.S.), Power Analytics (U.S.)