Analysts forecast the global microgrid market to grow at a CAGR of 9.69% during the period 2018-2022.
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The latest trend gaining momentum in the market is technological advancements.
With the advent of advanced technology, advanced control systems and renewable power generators are gaining traction.
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The decentralized power systems such as microgrids are adopted more frequently due to the reduced cost of power generators. Moreover, vendors in the solar microgrid market are focusing on building advanced technologies in the energy production process, contributing to the development of flexible and scalable microgrids.
Major key players in the global microgrid market: ABB, Emerson Electric, General Electric, Schneider Electric, and Siemens.
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According to the microgrid market report, one of the major drivers for this market is increasing government support. Governments across the world are supporting the adoption of microgrids due to its strong endurance capability during natural calamities.
The governments are stressing more towards green energy and renewable energy. The microgrids projects are backed by funding benefits in the form of grants from federal and state governments in the US.
Market driver: Increasing government support
Market trend: Technological advancements
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Key questions answered in this report
What will the market size be in 2022 and what will the growth rate be?
What are the key market trends?
What is driving this market?
What are the challenges to market growth?
Who are the key vendors in this market space?
Few Points from List of Exhibits:
Exhibit 1: Benefits of Microgrids
Exhibit 2: Solar Panel Components
Exhibit 3: Related Market
Exhibit 4: Global Renewable Energy Market
Exhibit 5: Market Characteristics
Exhibit 6: Market Segments
Exhibit 7: Market Definition - Inclusions and Exclusions Checklist
Exhibit 8: Benefits of Microgrids Categorized by Stakeholders
Exhibit 9: Market Size 2017
Exhibit 10: Validation Techniques Employed For Market Sizing 2017
Exhibit 11: Global Market Size and Forecast 2017-2022 ($ Billions)
Exhibit 12: Global Year-Over-Year Growth 2018-2022 (%)
Exhibit 13: Five Forces Analysis 2017
Exhibit 14: Five Forces Analysis 2022
Exhibit 15: Bargaining Power of Buyers
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