At 12+% CAGR, Microgrid Market Potentially Worth $38.99 Billion by 2022 Led by Automated Grid System

PUNE, India, March 5, 2017 /PRNewswire-iReach/ -- The microgrid market in APAC is expected to grow at the highest rate during the forecast period. Rise in microgrid installations in Africa and APAC for rural electrification projects and rapidly growing mining vertical in the Indian market, along with investments made by both national and international companies such as ABB, Siemens, GE, and Schneider Electric, are some of the key factors contributing to the growth of the microgrid market in APAC. Complete report on "Microgrid Market" spread across 171 pages, profiling 10 companies and supported with 84 tables and 67 figures is now available athttp://www.rnrmarketresearch.com/microgrid-market-by-offering-hardware-power-generation-energy-storage-system-software-and-service-connectivity-grid-connected-and-remote-island-grid-type-ac-dc-and-hybrid-microgrid-vertical-geogra-st-to-2022-market-report.html .

The microgrid market for healthcare is expected to grow at a high rate during the forecast period. Hospitals are an essential facility leveraging the advantages of the microgrid. The microgrid system provides significant economic and environmental benefits to the most advanced healthcare facilities. It has the ability to optimize the energy consumption for any type of facility, and this brings particular value to public facilities such as hospitals, which use mass quantities of power to maintain daily operations without risking an outage. The increasing need for uninterrupted power supply in the healthcare vertical is the key factor contributing to the growth of this market.

The Americas holds the largest share of the microgrid market as there is strong support for microgrid development from the U.S. and Canadian governments. The countries considered in APAC are China, Japan, India, Australia, and Rest of APAC. Additionally, many big players and the start-ups in this region are investing more for technological enhancement of microgrid.

The microgrid market is likely to grow at a CAGR of 12.45% between 2016 and 2022. The major restraints for the microgrid market are the high initial cost of installation and land acquisition and registration complications for solar PV installation in rural areas.

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The key players operating in the microgrid market are ABB Ltd. (Switzerland), General Electric (U.S.), Eaton Corporation PLC (Ireland), Siemens AG (Germany), Exelon Corporation (U.S.), Schneider Electric (France), Caterpillar Inc. (U.S.), Power Analytics Corporation (U.S.), HOMER Energy LLC (U.S.), and S&C Electric Company (U.S.).  Download PDF Brochure "Microgrid Market by Offering (Hardware- Power Generation & Energy Storage System, Software, and Service), Connectivity (Grid Connected and Remote/ Island), Grid Type (AC, DC, and Hybrid Microgrid), Vertical & Geography - Global Forecast to 2022" research report at http://www.rnrmarketresearch.com/contacts/request-sample?rname=903836 .

In the process of determining and verifying, the market size for several segments and sub segments gathered through secondary research, extensive primary interviews were conducted with key people. In Tier 1 (50%), Tier 2 (33%) and Tier 3 (17%) companies were contacted for primary interviews. The interviews were conducted with various key people such as C-Level (50%), D-Level (33%) and others (17%) from various key organizations operating in the Microgrid Market. The primary interviews were conducted worldwide covering regions such as Americas (67%), Europe (16%), and APAC (17%).

Research Coverage: In this report, various segments such as offering, connectivity, grid type, vertical, and geography have been covered. The report also discusses the drivers, restraints, opportunities, and challenges for the market. It gives a detailed view of the market across four main regions: the Americas, Europe, APAC, and RoW. Porter's five forces analysis has been included in the report, along with the description of each force and its impact on the market.

On a related note, another research titled Microgrid as a Service (MaaS) Market Global Forecast to 2022says, the microgrid as a service (MaaS) market was valued at USD 774.9 million in 2015 and is expected to reach USD 2,241.6 million by 2022, at a CAGR of 15.86% during the forecast period. The software as a service segment is expected to grow at the highest CAGR during the forecast period. The market in APAC is expected to grow at the highest rate during the forecast period. Companies such as ABB Ltd. (Switzerland), General Electric (U.S.), Siemens AG (Germany), Eaton Corp. PLC (Ireland), Exelon Corp. (U.S.), NRG Energy, Inc. (U.S.), Anbaric Transmission (U.S.), Pareto Energy (U.S.), Spirae, Inc. (U.S.), Green Energy Corporation (U.S.), SolarCity Corporation (U.S.), Schneider Electric SE (France), Duke Energy Corporation (U.S.), and Northern Power Systems Corp. (U.S.) have been profiled in this 150 pages research report available at http://www.rnrmarketresearch.com/microgrid-as-a-service-maas-market-by-grid-type-grid-connected-and-remote-or-islanded-service-type-engineering-design-saas-monitoring-control-and-operation-maintenance-vertical-and-geography-glo-st-to-2022-market-report.html .

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