Microgrid Market To Witness a Pronounce Growth Over 2025Posted by Avinash on March 17th, 2020 The global microgrid market is expected to reach USD 17.51 billion by 2025,growing at a CAGR of 17.0%, according to a new report by Grand View Research, Inc. The improvement in manufacturing sectors of emerging markets including Mexico, China and India as a result of favorable government policies to attract investments is expected to promote market growth. Microgrid differs from conventional electrical distribution system as it acts a close proximity medium between the power generation and power consumption sources which results in increasing efficiency and reducing transmission losses. These systems perform dynamic control over energy sources by enabling autonomous as well as automatic self-healing operations. Rising importance of captive electricity generation as a key alternative to the regulated power supply by municipal regulators in mining and mechanical engineering sectors is expected to have a strong impact. Furthermore, rising production output of unconventional sources including shale gas in the U.S. and Canada as a result of high utilization of fracking technology is expected to ensure access of natural gas as a power source over the next eight years. Request Free Sample PDF of the research at: Microgrid Market Other key findings from the study suggest:
Grand View Research has segmented the global microgrid market on the basis of power source, product, application, and region: Microgrid Power Source Outlook (Volume, MW; Revenue, USD Million; 2014 - 2025)
Microgrid Product Outlook (Volume, MW; Revenue, USD Million; 2014 - 2025)
Microgrid Application Outlook (Volume, MW; Revenue, USD Million; 2014 - 2025)
Microgrid Regional Outlook (Volume, MW; Revenue, USD Million; 2014 - 2025)
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