Market Research Report
Microgrids Overview: Market Drivers, Barriers, Business Models, Innovators, and Key Market Segment Forecasts
|Microgrids Overview: Market Drivers, Barriers, Business Models, Innovators, and Key Market Segment Forecasts|
Published: September 25, 2019
Guidehouse Insights (formerly Navigant Research)
Content info: 72 Pages; 39 Tables, Charts & Figures
Delivery time: 1-2 business days
The cost of microgrid technologies continues to drop and the controls continue to improve in functionality. And although regulatory barriers and the long project development cycle still frustrate efforts to move this market into the mainstream, significant progress has been made since Navigant Research first sized this market a decade ago. Different market segments have shifted in prominence over that time period, but what has remained consistent is overall growth across all five major regions profiled.
Among the high level regional findings, Asia Pacific is expected to continue to be the largest overall market for microgrids, with remote segments making up the majority opportunity. North America remains the top market for grid-tied microgrids, as a flurry of projects identified in 2019 increased starting point capacity levels in 2019 beyond those previously forecast. Latin America is the fastest growing market due in part to the major island-wide microgrid program in Puerto Rico.
This Navigant Research report forecasts regional capacity, implementation spending, and business model type by six primary market segments: campus/institutional, commercial and industrial (C&I), community, remote, utility distribution, and military (US only). The study provides an analysis of market drivers, barriers, and technology issues. Global market forecasts, segmented by region and market type, extend through 2028. Capacity is expected to grow by more than 22% over the forecast.