PUBLISHER: Global Industry Analysts, Inc. | PRODUCT CODE: 1105996
PUBLISHER: Global Industry Analysts, Inc. | PRODUCT CODE: 1105996
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Global Micro Grids Market to Reach $50.2 Billion by 2027
In the changed post COVID-19 business landscape, the global market for Micro Grids estimated at US$27 Billion in the year 2020, is projected to reach a revised size of US$50.2 Billion by 2027, growing at aCAGR of 9.3% over the period 2020-2027. Grid Connected, one of the segments analyzed in the report, is projected to record 10.2% CAGR and reach US$35.5 Billion by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the Off-Grid Connected segment is readjusted to a revised 7.3% CAGR for the next 7-year period.
The U.S. Market is Estimated at $6.1 Billion, While China is Forecast to Grow at 10.7% CAGR
The Micro Grids market in the U.S. is estimated at US$6.1 Billion in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$13.2 Billion by the year 2027 trailing a CAGR of 10.7% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 7.1% and 7.9% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 7.8% CAGR.
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