About How many listed microgrid companies are there
Explore the top microgrid companies leading the industry. Discover our comprehensive list of key players driving innovation, sustainability, and growth in the microgrid market.
Explore the top microgrid companies leading the industry. Discover our comprehensive list of key players driving innovation, sustainability, and growth in the microgrid market.
As of late 2020, more than 1,600 microgrids were opening in the U.S., generating more than 11 gigawatts of electricity. The cost to set up a microgrid ranges from a few hundred dollars for small projects to millions for large microgrids to serve factories, campuses, or entire communities.
The North America microgrid market size was valued USD 4.8 Billion in 2023 and is anticipated to grow at a CAGR of 10.3% up to 2032 driven by rising technological advancements and innovations in renewable energy generation.
This report lists the top Microgrid companies based on the 2023 & 2024 market share reports. Mordor Intelligence expert advisors conducted extensive research and identified these brands to be the leaders in the Microgrid industry.
The microgrid market size exceeded USD 17.8 Billion in 2023 and is poised to showcase around 20.5% CAGR from 2024 to 2032, driven by the rising energy resilience and reliability coupled with global shift towards renewable energy and stringent environmental regulations.
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6 FAQs about [How many listed microgrid companies are there ]
What is the global microgrid market size?
The global microgrid market size was valued at USD 9.88 billion in 2023 and is projected to grow from USD 11.24 billion in 2024 to USD 37.35 billion by 2032, exhibiting a CAGR of 16.19% during the forecast period. Asia-Pacific dominated the microgrid market with a market share of 43.02 % in 2023.
Who are the major players in the microgrid market?
The microgrid market is moderately consolidated. Some of the major players include Hitachi Energy Ltd, General Electric Company, Siemens AG, Eaton Corporation PLC, and Schneider Electric SE. Need More Details on Market Players and Competitors?
Why are key market players investing in Microgrid technology?
Key market players are heavily investing in research and development to innovate and improve microgrid technologies including advancements in energy storage systems, smart grid technologies, and integration of renewable energy sources.
How much does a microgrid cost?
Microgrids are small-scale electricity networks. As of late 2020, more than 1,600 microgrids were opening in the U.S., generating more than 11 gigawatts of electricity. The cost to set up a microgrid ranges from a few hundred dollars for small projects to millions for large microgrids to serve factories, campuses, or entire communities.
Which segment will dominate the microgrid market in the future?
Due to such developments, the off-grid microgrid segment is expected to dominate the microgrid market in the future. Around 35% of Asia-based utility companies have predicted that microgrids will lead to new revenue streams in the next two years due to the high power demand from rural communities.
What are the opportunities for the microgrid market?
The innovation-oriented endeavors and the funding feasibility studies in many countries are the biggest opportunities for the microgrid market. Apart from independent power generation, microgrids have evolved with high-speed control platforms and forecasting systems that make them more sophisticated.