Microgrid Market Growth, Demand and Challenges of the Key Industry Players 2024-32
                     Global Microgrid 
Market Research and 
Forecast Report 2024-
2032
Format: PDF+EXCEL
© 2023 IMARC All Rights Reserved 
About IMARC Group
In ternat ional  Market  Analys is  Research and Consul t ing Group is  a leading adv iser  on management  
s t rategy and market  research wor ldwide.  We par tner  wi th c l ients  in  a l l  regions and indust ry  
vert ica ls  to  ident i fy  thei r  h ighest -value oppor tuni t ies,  address thei r  most  cr i t ica l  chal lenges,  and 
t ransform thei r  bus inesses.
IMARC’s in format ion products  inc lude major market ,  sc ient i f ic ,  economic and technological  
developments  for  bus iness leaders  in  pharmaceut ica l ,  indust r ia l ,  and h igh technology 
organizat ions.  Market  forecasts  and indust ry  analys is  for  b iotechnology,  advanced mater ia ls ,  
chemicals ,  food and beverage,  t ravel  and tour ism, nanotechnology and novel  process ing methods 
are at  the top of  the company’s  exper t ise.
IMARC’s ta i lored approach combines unfathomable ins ight  in to the dynamics o f  companies and 
markets wi th c lose cooperat ion at  a l l  levels  of  the c l ient  organizat ion.  This ensures that  our  c l ients 
achieve unmatchable compet i t ive advantage,  bui ld  more pro f ic ient  organizat ions,  and secure 
las t ing resul ts .
A c c o r d i n g  t o  t h e  l a t e s t  r e p o r t  b y  I M A R C  G r o u p ,  t i t l e d  " M i c r o g r i d  M a r k e t :  G l o b a l  I n d u s t r y  
T r e n d s ,  S h a r e ,  S i z e ,  G r o w t h ,  O p p o r t u n i t y  a n d  F o r e c a s t  2 0 2 4 - 2 0 3 2 , "  t h e  g l o b a l  m i c r o g r i d  
m a r k e t  s i z e  r e a c h e d  U S $  3 2 . 1  B i l l i o n  i n  2 0 2 3 .
A  m i c r o g r i d  i s  a n  i n t e g r a t e d  e n e r g y  s y s t e m  c o n s i s t i n g  o f  i n t e r c o n n e c t e d  l o a d s  a n d  d i s t r i b u t e d  
e n e r g y  r e s o u r c e s  w i t h i n  c l e a r l y  d e f i n e d  e l e c t r i c a l  b o u n d a r i e s .  I t  o p e r a t e s  a s  a  s i n g l e  c o n t r o l l a b l e  
e n t i t y  c o n c e r n i n g  t h e  m a i n  g r i d  a n d  c a n  f u n c t i o n  b o t h  i n  g r i d - c o n n e c t e d  a n d  i s l a n d  m o d e .  I t  
Report t y p i c a l l y  i n c o r p o r a t e s  v a r i o u s  e n e r g y  s o u r c e s ,  i n c l u d i n g  r e n e w a b l e  e n e r g i e s  s u c h  a s  s o l a r  a n d  
w i n d ,  c o m b i n e d  h e a t  a n d  p o w e r  ( C H P )  s y s t e m s ,  b a t t e r i e s ,  a n d  c o n v e n t i o n a l  p o w e r  g e n e r a t o r s .  I t  
o f f e r s  s i g n i f i c a n t  a d v a n t a g e s  s u c h  a s  i n c r e a s e d  e n e r g y  s e c u r i t y ,  e n h a n c e d  o p e r a t i o n a l  f l e x i b i l i t y ,  
Highlight and i m p r o v e d  s u s t a i n a b i l i t y  t h r o u g h  t h e  i n t e g r a t i o n  o f  r e n e w a b l e  e n e r g y  s o u r c e s ,  a n d  p o t e n t i a l  c o s t  
s a v i n g s .  I t  i s  a d a p t a b l e  a n d  c a n  b e  t a i l o r e d  t o  m e e t  s p e c i f i c  e n e r g y  n e e d s ,  m a k i n g  i t  a  v e r s a t i l e  
s o l u t i o n  f o r  a  r a n g e  o f  a p p l i c a t i o n s ,  f r o m  r e m o t e  r u r a l  a r e a s  t o  u r b a n  i n d u s t r i a l  c o m p l e x e s .  
Description A d d i t i o n a l l y ,  i t s  a b i l i t y  t o  o p e r a t e  i n d e p e n d e n t l y  f r o m  t h e  m a i n  g r i d  d u r i n g  o u t a g e s  a d d s  r e s i l i e n c e  t o  t h e  e n e r g y  i n f r a s t r u c t u r e ,  m a k i n g  i t  c r i t i c a l  i n  t h e  f a c e  o f  i n c r e a s i n g  c l i m a t e - r e l a t e d  
d i s r u p t i o n s .  B y  p r o v i d i n g  a  l o c a l i z e d  e n e r g y  s o u r c e ,  m i c r o g r i d s  r e d u c e  t r a n s m i s s i o n  l o s s e s  a n d  
c a n  o f f e r  a  m o r e  e f f i c i e n t  a n d  e n v i r o n m e n t a l l y  f r i e n d l y  e n e r g y  s o l u t i o n .  I t s  s c a l a b i l i t y  a n d  
m o d u l a r i t y  a l s o  a l l o w  f o r  g r a d u a l  e x p a n s i o n  t o  m e e t  g r o w i n g  e n e r g y  d e m a n d s ,  m a k i n g  i t  a  
s u s t a i n a b l e  o p t i o n  f o r  f u t u r e  e n e r g y  n e e d s .
R e q u e s t  f o r  a  P D F  s a m p l e  o f  t h i s  r e p o r t :  
h t t p s : / / w w w . i m a r c g r o u p . c o m / m i c r o g r i d - m a r k e t / r e q u e s t s a m p l e
Report Description
G lo b a l  M i c r o g r i d  M a r k e t  T r e n d s :
T h e  g l o b a l  m i c r o g r i d  m a r k e t  i s  w i t n e s s i n g  s i g n i f i c a n t  g r o w t h ,  d r i v e n  b y  t h e  i n c r e a s i n g  d e m a n d  f o r  r e l i a b l e  a n d  s e c u r e  p o w e r  s u p p l y  a m i d s t  
f r e q u e n t  p o w e r  o u t a g e s ,  a n d  g r o w i n g  e n e r g y  c o n s u m p t i o n  i s  a  m a j o r  d r i v e r .  A s  u r b a n i z a t i o n  a n d  i n d u s t r i a l i z a t i o n  a c c e l e r a t e  w o r l d w i d e ,  
t h e  n e e d  f o r  e f f i c i e n t  a n d  u n i n t e r r u p t e d  p o w e r  b e c o m e s  c r u c i a l ,  p r o p e l l i n g  t h e  d e m a n d  f o r  m i c r o g r i d s .  A l o n g  w i t h  t h i s ,  t h e  i n t e g r a t i o n  o f  
r e n e w a b l e  e n e r g y  s o u r c e s  i n t o  t h e  p o w e r  g r i d  i s  a  k e y  t r e n d ,  a s  i t  a l i g n s  w i t h  g l o b a l  i n i t i a t i v e s  t o  r e d u c e  c a r b o n  e m i s s i o n s  a n d  p r o m o t e  
s u s t a i n a b l e  d e v e l o p m e n t .  T h e i r  a b i l i t y  t o  e f f i c i e n t l y  i n c o r p o r a t e  r e n e w a b l e s  i s  p i v o t a l  i n  t h i s  t r a n s i t i o n .  T h e r e f o r e ,  t h i s  i s  p o s i t i v e l y  
i n f l u e n c i n g  t h e  m a r k e t .  I n  a d d i t i o n ,  t e c h n o l o g i c a l  a d v a n c e m e n t s  i n  e n e r g y  s t o r a g e ,  s u c h  a s  l i t h i u m - i o n  b a t t e r i e s ,  a r e  e n h a n c i n g  t h e  
e f f i c i e n c y  a n d  r e l i a b i l i t y  o f  m i c r o g r i d s ,  b r o a d e n i n g  t h e i r  a p p l i c a t i o n s  a c r o s s  v a r i o u s  s e c t o r s ,  i n c l u d i n g  h e a l t h c a r e ,  e d u c a t i o n ,  a n d  
g o v e r n m e n t  f a c i l i t i e s .  M o r e o v e r ,  g o v e r n m e n t s  a n d  r e g u l a t o r y  b o d i e s  w o r l d w i d e  a r e  i n c r e a s i n g l y  s u p p o r t i v e  o f  m i c r o g r i d  i n s t a l l a t i o n s ,  
o f f e r i n g  i n c e n t i v e s  a n d  f u n d i n g  a n d  r e c o g n i z i n g  t h e i r  r o l e  i n  i m p r o v i n g  e n e r g y  a c c e s s  i n  r e m o t e  a n d  u n d e r s e r v e d  a r e a s .  A p a r t  f r o m  t h i s ,  
t h e  g r o w i n g  a w a r e n e s s  o f  e n v i r o n m e n t a l  s u s t a i n a b i l i t y  a n d  t h e  i n c l i n a t i o n  t o w a r d s  g r e e n  e n e r g y  s o u r c e s  a r e  f u e l i n g  t h e  a d o p t i o n  o f  
m i c r o g r i d s .  A n o t h e r  s i g n i f i c a n t  t r e n d  i s  t h e  d i g i t i z a t i o n  o f  t h e  e n e r g y  s e c t o r ,  w h e r e  s m a r t  g r i d s  a n d  I o T  t e c h n o l o g i e s  a r e  b e i n g  i n t e g r a t e d  
i n t o  m i c r o g r i d s ,  e n h a n c i n g  t h e i r  o p e r a t i o n a l  e f f i c i e n c y  a n d  m a n a g e m e n t .  T h i s  i n t e g r a t i o n  a l l o w s  f o r  r e a l - t i m e  m o n i t o r i n g  a n d  c o n t r o l ,  
f u r t h e r  o p t i m i z i n g  e n e r g y  u s a g e  a n d  c o s t - e f f e c t i v e n e s s .  I n  c o n f l u e n c e  w i t h  t h i s ,  t h e  r i s i n g  e n e r g y  c o s t s  a n d  t h e  n e e d  f o r  e n e r g y  
i n d e p e n d e n c e  a r e  a l s o  m o t i v a t i n g  c o m m u n i t i e s  a n d  i n d u s t r i e s  t o  i n v e s t  i n  m i c r o g r i d  s o l u t i o n s .  F u r t h e r m o r e ,  t e c h n o l o g i c a l  i n n o v a t i o n s  a n d  
s u p p o r t i v e  p o l i c i e s  a r e  c r e a t i n g  a  p o s i t i v e  m a r k e t  o u t l o o k .
V ie w  R e p o r t  T O C ,  F i g u r e s  a n d  T a b l e s :  h t t p s : / / w w w . i m a r c g r o u p . c o m / m i c r o g r id - m a r k e t
Breakup by Energy Source:
• Natural  Gas
• Combined Heat  and Power
• Solar  Photovoltaic (PV)
• Diesel
• Fuel Cel l
Report • Others
Segmentation
Breakup by Application:
• Remote Systems
• Inst i tut ion and Campus
• Uti l ity/Community
• Defence
• Others
Breakup by Region:
• North America
• Asia Pacifi c
• Europe
• Middle East and Afr ica
Report • Latin America
Segmentation
• Lockheed Martin Corporation
• ABB Ltd
• General  Electr ic Company (GE)
Competitive • Eaton Corporation PLC
Landscape • Siemens AG
with Key 
Players
How big is the microgrid market?
What is the future of microgrids?
What are the key factors driving the global 
Key microgrid market?
Questions What has been the impact of COVID-19 on the 
global microgrid market?
Answered in 
What is the breakup of the global microgrid market 
the Report based on the energy source?
What is the breakup of the global microgrid market 
based on the application?
What are the key regions in the global microgrid 
market?
Who are the microgrid market players?
1     P r e f a c e
2     S c o p e  a n d  M e t h o d o l o g y
    2 . 1     O b j e c t i v e s  o f  t h e  S t u d y
    2 . 2     S t a k e h o l d e r s
    2 . 3     D a t a  S o u r c e s
        2 . 3 . 1     P r i m a r y  S o u r c e s
        2 . 3 . 2     S e c o n d a r y  S o u r c e s
    2 . 4     M a r k e t  E s t i m a t i o n
        2 . 4 . 1     B o t t o m - U p  A p p r o a c h
Table of         2 . 4 . 2     T o p - D o w n  A p p r o a c h    2 . 5     F o r e c a s t i n g  M e t h o d o l o g y
3     E x e c u t i v e  S u m m a r y
4     I n t r o d u c t i o n
    4 . 1     O v e r v i e w
Contents     4 . 2     K e y  I n d u s t r y  T r e n d s5     G l o b a l  M i c r o g r i d  M a r k e t
      5 . 1       M a r k e t  O v e r v i e w
      5 . 2       M a r k e t  P e r f o r m a n c e
      5 . 3       I m p a c t  o f  C O V I D - 1 9
      5 . 4       M a r k e t  B r e a k u p  b y  A p p l i c a t i o n
      5 . 5       M a r k e t  B r e a k u p  b y  E n e r g y  S o u r c e
      5 . 6       M a r k e t  B r e a k u p  b y  R e g i o n
      5 . 7       M a r k e t  F o r e c a s t
      5 . 8     S W O T  A n a l y s i s
            5 . 8 . 1       O v e r v i e w
            5 . 8 . 2       S t r e n g t h s
            5 . 8 . 3       W e a k n e s s e s
            5 . 8 . 4       O p p o r t u n i t i e s
            5 . 8 . 5       T h r e a t s
      5 . 9       Va l u e  C h a i n  A n a l y s i s
            5 . 9 . 1       R a w  M a t e r i a l  S u p p l i e r s
            5 . 9 . 2       S u b - C o m p o n e n t s  a n d  S u b - S y s t e m s  M a n u f a c t u r e r s
       
        5 . 9 . 3     M i c r o g r i d  M a n u f a c t u r e r s
        5 . 9 . 4     M i c r o g r i d  C o n t r o l
        5 . 9 . 5     P o w e r  D i s t r i b u t i o n
        5 . 9 . 6     E n d - U s e  I n d u s t r i e s
    5 . 1 0     P o r t e r s  F i v e  F o r c e s  A n a l y s i s
        5 . 1 0 . 1     O v e r v i e w
        5 . 1 0 . 2     B a r g a i n i n g  P o w e r  o f  B u y e r s
        5 . 1 0 . 3     B a r g a i n i n g  P o w e r  o f  S u p p l i e r s
        5 . 1 0 . 4     D e g r e e  o f  C o m p e t i t i o n
        5 . 1 0 . 5     T h r e a t  o f  N e w  E n t r a n t s
Table of         5 . 1 0 . 6     T h r e a t  o f  S u b s t i t u t e s6    M a r k e t  B r e a k u p  b y  E n e r g y  S o u r c e
    6 . 1     N a t u r a l  G a s
        6 . 1 . 1  M a r k e t  T r e n d s
Contents         6 . 1 . 2  M a r k e t  F o r e c a s t    6 . 2     C o m b i n e d  H e a t  a n d  P o w e r
        6 . 2 . 1  M a r k e t  T r e n d s
        6 . 2 . 2  M a r k e t  F o r e c a s t
    6 . 3     S o l a r  P h o t o v o l t a i c  ( P V )
        6 . 3 . 1  M a r k e t  T r e n d s
        6 . 3 . 2  M a r k e t  F o r e c a s t
    6 . 4     D i e s e l
        6 . 4 . 1  M a r k e t  T r e n d s
        6 . 4 . 2  M a r k e t  F o r e c a s t
    6 . 5     F u e l  C e l l
        6 . 5 . 1  M a r k e t  T r e n d s
        6 . 5 . 2  M a r k e t  F o r e c a s t
    6 . 6     O t h e r s
        6 . 6 . 1  M a r k e t  T r e n d s
        6 . 6 . 2  M a r k e t  F o r e c a s t     
F o r  m o r e  i n f o r m a t i o n ,  v i s i t :  
h t t p s : / / w w w. i m a rc g ro u p . c o m / m i c ro g r i d - m a r ke t / t o c
Disclaimer
© 2023  IMARC Al l  R ights  Reserved 
Th is  Pub l i ca t ion  and  a l l  i t ’ s  con ten ts  un less  o therw ise  men t i oned  a re  copy r i gh ted  in  the  name o f  
I n t e rna t i ona l  Marke t  Ana lys i s  Research  and  Consu l t ing  ( IMARC) .  No  pa r t  o f  t h i s  pub l i ca t ion  may  be  
rep roduced ,  repackaged ,  red i s t r i bu ted  o r  res o ld  i n  who le  o r  i n  any  pa r t .  The  pub l i ca t ion  may  a l so  
no t  be  used  i n  any  f o rm o r  by  and means  g raph i c  e lec t ron ic  o r  mechan ic a l ,  i nc lud ing  pho tocopy ing ,  
reco rd ing ,  t ap ing  o r  by  i n fo rmat i on  s to rage  o r  re t r ieva l ,  o r  by  any  o the r  f o rm,  w i t hou t  the  exp ress  
c ons en t  o f  I n t e rna t iona l  Marke t  Ana lys i s  Research  and  Consu l t i ng  ( IMARC) .
Disc la imer :  Al l  con ten ts  and  da ta  o f  t h i s  pub l i c a t i on ,  i nc lud ing  fo recas t s ,  da ta  ana lys i s  and  op in ion  
have  been  based  on  in f o rmat ion  and  sources  be l ieved  to  be  accu ra te  and  re l iab le  a t  t he  t ime  o f  
pub l i sh ing .  In t e rna t i ona l  Ma rke t  Ana l ys is  Research  and  Consu l t ing  makes  no  rep resen ta t ion  o f  
war ran t y  o f  any  k ind  as  to  t he  acc u racy  o r  comp le teness  o f  any  I n fo rmat i on  p rov ided .  IMARC 
accep ts  no  l i ab i l i t y  wha tsoever  f o r  any  los s  o r  damage  resu l t i ng  f rom op in ion ,  e r ro rs  o r  
i naccu rac ies  i f  any  f ound  th is  pub l i ca t ion .
IMARC,  IMARC Group  and  G loba l  Therapy  I ns igh t  Ser i es  a re  reg is t e red  t rademarks  o f  I n te rna t iona l  
Marke t  Ana lys i s  Research  and  Consu l t ing .  A l l  o the r  t rademarks  used  i n  th i s  pub l i ca t i on  a re  
reg i s te red  t rademarks  o f  t he i r  r espec t i ve  compan ies .
Contact Us
Visit us at :
https://www.imarcgroup.com
TELEPHONE: +1-631-791-1145 
E-MAIL: [email protected]