Japan Microgrid Market is set to witness strong growth on account of favourable measures to promote the adoption of renewable technology
—
According to Global Market Insights, Microgrid Market is expected to surpass USD 19 billion by 2024.Growing government regulations and policies concerning with integration of renewable energy technologies along with increasing demand to electrify urban and rural areas will propel the industry growth. Low power cost along with reduced transmission and distribution losses, economic competitiveness and power reliability are some of the key underlined parameters which will further positively impact the product penetration. Moreover, development of off grid network across developing countries will augment the industry landscape.
The U.S. microgrid market is predicted to reach over 2 GW by 2024. Increasing adoption of sustainable energy technology to reduce reliance on existing network. Growing spending across renewable energy resource in the nation will further drive the industry growth. In 2016, as per IEA, the U.S. funded more than USD 250 billion to promote the development of renewable technologies across the countries.
Request for a sample of this research report @ https://www.gminsights.com/request-sample/detail/1187
Installation of captive power generation facilities with an aim to maintain continuous electricity supply across industrial sector will stimulate the microgrid market. Favourable government measures to maintain central grid stability along with measures toward power security concern will propel the industry growth. Advancement in technology in development of control distribution unit and energy efficient storage system will further complement the business landscape.
Increasing investment toward industrial sector along with rapid urbanization across developing nation will positively impact the Utility microgrid market. Increasing demand for electricity across commercial & industrial sectors along with increasing adoption of heavy load machinery and HVAC system in industrial sector will further fuel the industry growth.
Flow battery microgrid market will witness growth owing to its ability to offer higher efficiency and longer life cycle features. Growing spending to promote the development and deployment of renewable energy technologies coupled with ongoing innovation to improve design of energy storage solution to enhance efficiency and reduce cost will further enhance the product penetration.
Make an Inquiry for purchasing this report @ https://www.gminsights.com/inquiry-before-buying/1187
Natural gas microgrid market share will grow owing to increasing investment toward drilling of unconventional resource across Russia, China and the U.S. Ability to offer less environmental impact over other conventional sources will make its adoption preferable. In August 2016, Government of China signed agreement with Capstone turbine to supply microturbine for 10 MW project.
Japan microgrid market is set to witness strong growth on account of favourable measures to promote the adoption of renewable technology along with rising energy security concern. Increasing government funding towards several R&D projects coupled with deployment of virtual private network to reduce energy crisis will propel the industry growth. In 2017, Japanese Ministry of Economy, Trade and Industry collaborated with Panasonic to construct solar PV powered microgrid network to supply electricity to more than 100 houses in western Japan.
Key players across microgrid market include Siemens, GE Alstom, Caterpillar, Lockheed Martin Corporation, ABB, Power Analytics Corporation, Emersion, EnSync Inc, Exelon Corporation, Schneider Electric, Honeywell, Viridity Energy Inc and Advanced Microgrid Solutions.
Browse key industry insights spread across 300 pages with 798 market data tables & 12 figures & charts from the report, “Microgrid Market Size By Connectivity (Grid Connected, Off-Grid), By Grid Type (AC Microgrid, DC Microgrid, Hybrid), By Source (Diesel Generators, Natural Gas, Solar PV, CHP, Others), By Storage (Lithium-Ion, Lead Acid, Flow Batteries, Flywheel, Others), By Application (Healthcare, Educational Institutes, Military, Utility, Industrial/Commercial, Remote, Others) Industry Analysis Report, Regional Outlook (U.S., Canada, Mexico, Germany, France, UK , Russia, Spain, Italy, Denmark, China, Japan, South Korea, India, Australia, Indonesia, Brazil, Argentina, Chile, Saudi Arabia, UAE, South Africa, Iran, Nigeria) Application Potential, Competitive Market Share & Forecast, 2017 – 2024” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/microgrid-market
Table of Contents (ToC) of the report:
Chapter 8. Microgrid Market, By Application
8.1. Microgrid market share by application, 2016 & 2024
8.2. Healthcare
8.2.1. Market estimates and forecast, 2013-2024
8.2.2. Market estimates and forecast, by region, 2013-2024
8.3. Educational institutes
8.3.1. Market estimates and forecast, 2013-2024
8.3.2. Market estimates and forecast, by region, 2013-2024
8.4. Military
8.4.1. Market estimates and forecast, 2013-2024
8.4.2. Market estimates and forecast, by region, 2013-2024
8.5. Utility
8.5.1. Market estimates and forecast, 2013-2024
8.5.2. Market estimates and forecast, by region, 2013-2024
8.6. Industrial/Commercial
8.6.1. Market estimates and forecast, 2013-2024
8.6.2. Market estimates and forecast, by region, 2013-2024
8.7. Remote
8.7.1. Market estimates and forecast, 2013-2024
8.7.2. Market estimates and forecast, by region, 2013-2024
8.8. Others
8.8.1. Market estimates and forecast, 2013-2024
8.8.2. Market estimates and forecast, by region, 2013-2024
Browse Full Table of Contents (ToC) @ https://www.gminsights.com/toc/detail/microgrid-market
About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
Contact Info:
Name: Arun Hegde
Email: Send Email
Organization: Global Market Insights, Inc.
Address: 4 North Main Street Selbyville, Delaware 19975 USA
Phone: 1-888-689-0688
Website: https://www.gminsights.com/pressrelease/microgrid-market
Source URL: https://marketersmedia.com/microgrid-market-capacity-is-set-to-exceed-6-gw-by-2024/88894064
Source: MarketersMedia
Release ID: 88894064
