Customer Micro Grids Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 - 2028
Customer Micro Grids Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 - 2028
Report Digest
Global Customer Micro Grids Market: Overview
Globally, the demand for micro grids has increased at a large scale due to its independent operability and high demand for small-scale power grid. The demand for micro grids are seen different verticals including industrial, educational institutes, healthcare, military, telecom infrastructure, government and utilities, and data centers. Additionally, government initiatives to reduce carbon footprint is also projected to provide a fillip in the global customer micro grids market.
Rapid industrialization and significant rise in population has fueled demand for energy storage systems that has boosted demand in the global customer micro grids market. Moreover, growing interest in IoT services and convergence of IoT in improving microgrd connectivity will further expand demand in this market. Beside the market driver, various regional aspects, ongoing trends, competition analysis, and few challenges together builds the market more competitive and enhances its prospects of growth. With all these information, key market participants will be able to take better and well-informed decisions to establish themselves in a much better way.
Global Customer Micro Grids Market: Notable Developments
Some of the recent developments taking place in the global customer micro grids market include:
- Collaboration of GE and ORES (Belgium) that together aim to deliver an integrated software solution for advanced operations of its distribution network. ORES has developed a strategy to safeguard the future of its distribution infrastructure, such as implementing smart metering and improving network reliability. Thus to enhance these improvements the company collaborated GE as their solution vendor of choice.
- Recently, Eaton launched a series of reclosers to aid utilities support a reliable and a smarter grid. The company’s Cooper Power series NOVA NX-T reclosers provides accuracy and reliability in distribution system that is crucial to smart grid applications. This novel solution is created in a manner that will improve reliability and performance while making equipment installations, configuration, control and operation easier.
Some of the most prominent competitors operating in the competitive landscape of global customer micro grids market include –
- Bloom Energy
- Alstom Grid
- S&C Electric Company
- Schneider Electric
- Honeywell
- Chevron Energy Solutions
- Arista Power
- Encorp
- Boeing Smart Grid Solutions
- GE Digital Energy
Global Customer Micro Grids Market: Trends and Opportunities
Large number of electrification projects currently going on in multiple emerging economies in Asia Pacific and Africa are creating huge growth opportunities in the global customer micro grids market. Increasing investments by government in micro grids projects and it growing applicability in industries such as military, healthcare, and governmental sectors are also termed to expand growth opportunities in this market.
But few things need to be taken care that includes issues in compatibility and interoperability in large number of devices or components. Moreover, risk associated with security, operations, and technical issues might hamper growth in this market. Government regulations also play crucial role in the growth of the global customer micro grids market.
Asia Pacific Offering Lucrative Growth Opportunities in Global Customer Micro Grids Market
Geographically, the global customer micro grids market covers Europe, Asia Pacific, Latin America, North America, and the Middle East and Africa. Among these regions, North America is estimated to have dominating share in the global market in the forth coming years. Large number of players present in this region has led its dominance in the global customer micro grids market.
On the other hand, Asia Pacific is also projected to lead the global customer micro grids market by rising at steady CAGR. Among the emerging countries, India, China and few other are projected to be the key regional market for the growth of customer micro grids. For example, growing number of rural electrification projects carried out in India is one of the key reasons driving demand for customer micro grids in this region. Moreover, multiple leading companies are investing heavily in emerging economies due to high growth potential, which has further increased Asia Pacific customer micro grids market.
The study presents a granular assessment and quantitative evaluation of:
- Key growth factors and prominent trends
- Size and share of key segments in overall market
- Key challenges and winning imperatives
- Factors shaping competitive landscape
- Insights into how contours of market will change in coming years
- Technological advances
- New avenues and imminent investment pockets
- Regulatory landscape shaping current and future strategies of companies
The region-wise assessment includes market dynamics in:
- North America
- Asia Pacific
- Europe
- Latin America
- The Middle East and Africa
The study is prepared with the help of an extensive primary and secondary research. Primary research includes but not limited to interactions, interviews, surveys, and events. Opinions of policy makers and industry experts are carefully integrated into the insights to complement primary research. Volumes of secondary data gleaned through renowned paid sources, annual statements, reputed journals, and government documents offer insights into current dynamics and key evolution trajectories the market is likely to assume. The research employs various industry-wide analytics methods and well-established methodologies to ascertain the attractiveness of key segments. Further, it evaluates the lucrativeness of key regions and factors underlying their maturity. The insights notably include a detailed analysis of forces behind vendor differentiation and offers insight into investment-decision making by prominent players.
The report strives to enlighten businesses and industry stakeholders on multiple facets of the growth dynamic of the market, the key of which include answers to:
- Which key factors will shape the competitive landscape?
- Which trends will stimulate research and development activities in different geographies?
- Which are the lucrative growth areas and what is the size of potential they are likely contribute to the overall market?
- Which disruptions in market growth are likely to come with the new business models?
- Which are some of the recent overhauls in policies that may change the course of the market significantly?
- Which are the geographies that will form sizable sources of new streams to new and established players alike?
- How are top players likely to realign their strategy to counter the forces of competition?
- Which key strategies emerging players are likely to focus on to consolidate their position?
- Which changes in end-user preferences might affect the status quo held by the leading players?
- Which are some of the game-changing innovations influencing the projected share and revenue of the market and its segments?
Note: Utmost care has invariably been taken to present data and arrive at statistics at all the TMR Research reports. Meanwhile, some recent developments and new industry trends may take time to be included in the reports.
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