Microgrid As A Service Market
Microgrid as a Service Market Forecasts to 2030 - Global Analysis By Grid Type (On-Grid, Off-Grid and Hybrid), Service Model, Technology, Application and By Geography
|
Years Covered |
2022-2030 |
|
Estimated Year Value (2024) |
US $2.9 BN |
|
Projected Year Value (2030) |
US $6.9 BN |
|
CAGR (2024-2030) |
15.5% |
|
Regions Covered |
North America, Europe, Asia Pacific, South America, and Middle East & Africa |
|
Countries Covered |
US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa |
|
Largest Market |
North America |
|
Highest Growing Market |
Asia Pacific |
According to Stratistics MRC, the Global Microgrid as a Service Market is accounted for $2.9 billion in 2024 and is expected to reach $6.9 billion by 2030, growing at a CAGR of 15.5% during the forecast period. Microgrid as a Service (MaaS) enables providers to offer microgrid solutions for subscription or contractual considerations. This covers the design, implementation, management, and maintenance of microgrids—these are small-scale, localized energy systems with the potential for autonomous functioning off or on the main power grid. MaaS provides access for organizations to advanced energy solutions that assure reliability, integrating renewable energy sources without many of the high upfront costs and operational complexities of owning a microgrid.
According to the International Energy Agency (IEA), global energy investment is set to exceed USD 3 trillion for the first time in 2024, with USD 2 trillion going to clean energy technologies and infrastructure.
Market Dynamics:
Driver:
Increasing demand for reliable and resilient energy supply
The growing demand for reliable and resilient energy supply is a key driver for the Microgrid as a Service (MaaS) market. As businesses and communities face increasing power outages due to natural disasters and grid instability, microgrids offer a solution for uninterrupted power supply. MaaS provides energy independence and security, crucial for critical infrastructure and remote locations. The ability to integrate renewable energy sources and optimize energy consumption enhances grid reliability. This driver is particularly strong in regions prone to extreme weather events or with aging grid infrastructure, as MaaS offers a cost-effective way to ensure continuous power supply and improve overall energy resilience.
Restraint:
Limited awareness and expertise
Many potential customers, including businesses and municipalities, lack understanding of microgrid benefits and implementation processes. The complexity of microgrid systems, involving integration of various energy sources and advanced control systems, requires specialized knowledge. This knowledge gap extends to regulatory frameworks and financing models for microgrids. The shortage of skilled professionals in microgrid design, installation, and maintenance further hampers market growth.
Opportunity:
Growth in renewable energy sources
As solar, wind, and other renewable technologies become more affordable and efficient, their integration into microgrids becomes increasingly attractive. MaaS providers can leverage this trend to offer environmentally friendly and cost-effective energy solutions. The ability of microgrids to balance intermittent renewable generation with energy storage and smart load management enhances grid stability and reliability. This opportunity aligns with global efforts to reduce carbon emissions and transition to clean energy. MaaS can play a crucial role in facilitating the adoption of renewable energy in both grid-connected and off-grid applications, opening new markets.
Threat:
Cybersecurity risks
Microgrids rely heavily on digital technologies for control and optimization, they become potential targets for cyberattacks. A successful attack could disrupt power supply, compromise sensitive data, or even cause physical damage to energy infrastructure. The interconnected nature of microgrids with larger grid systems increases the potential impact of security breaches. This threat creates hesitation among potential adopters, particularly in critical sectors like healthcare and defense.
Covid-19 Impact:
The Covid-19 pandemic initially slowed MaaS market growth due to project delays and economic uncertainty. However, it subsequently highlighted the importance of resilient energy systems, especially for critical facilities like hospitals. The pandemic accelerated interest in decentralized energy solutions and remote monitoring capabilities offered by MaaS. As businesses and communities sought energy independence and reliability during lockdowns, the value proposition of microgrids became more apparent, potentially driving long-term market growth.
The solar PV segment is expected to be the largest during the forecast period
The solar PV segment is anticipated to dominate the MaaS market due to the declining costs of solar technology and its widespread applicability. Solar PV systems offer scalability, making them suitable for various microgrid sizes and applications. They provide clean, renewable energy with minimal operational costs, aligning with sustainability goals. Solar PV's compatibility with energy storage solutions enhances microgrid reliability and flexibility. The segment's growth is further supported by favorable government policies and incentives for solar adoption.
The hybrid segment is expected to have the highest CAGR during the forecast period
The hybrid segment in the MaaS market is projected to experience the highest growth rate due to its ability to combine multiple energy sources, optimizing reliability and efficiency. Hybrid microgrids integrate renewable sources like solar and wind with conventional generators and energy storage systems, providing a balanced and flexible energy solution. This approach addresses the intermittency issues of renewable sources while reducing reliance on fossil fuels. Hybrid systems offer enhanced resilience against various disruptions and can adapt to changing energy needs and resource availability.
Region with largest share:
North America is expected to dominate the MaaS market due to its advanced energy infrastructure and supportive regulatory environment. The region has been at the forefront of microgrid adoption, driven by the need for grid resilience in the face of natural disasters and aging infrastructure. Strong investment in renewable energy and energy storage technologies complements MaaS growth. North America's focus on energy security and sustainability, coupled with high electricity costs in certain areas, creates a favorable market for MaaS solutions across various sectors, including military, commercial, and industrial applications.
Region with highest CAGR:
The Asia Pacific region is anticipated to witness the highest CAGR in the MaaS market due to rapid industrialization, urbanization, and increasing energy demand. The region's diverse geography, including numerous islands and remote areas, presents ideal scenarios for microgrid deployment. Increasing investments in smart city projects and the need for reliable power in manufacturing hubs further accelerate MaaS adoption. Additionally, the growing awareness of energy resilience and sustainability in developing economies contributes to the rapid expansion of the MaaS market in Asia Pacific.
Key players in the market
Some of the key players in Microgrid as a Service market include Schneider Electric, Siemens AG, ABB Group, General Electric Company, Eaton Corporation, Spirae, Anbaric Transmission, Northern Power Systems Corp., Pareto Energy, ENGIE, Ameresco, PowerSecure, Hitachi Energy Ltd, Toshiba Corp., S&C Electric Co., Aggreko, Green Energy Corp, and EnSync Energy.
Key Developments:
In May 2023, Schneider Electric, the leader in the digital transformation of energy management and automation, today announces EcoStruxure™ Microgrid Flex, an industry-first, innovative standardized microgrid solution designed to significantly reduce project timeline across the journey, delivering a greater return on investment for the system.
In February 2023, Eaton was awarded a contract to support AEP Ohio in enhancing the resilience of water infrastructure in Columbus through a renewable energy microgrid.
In February 2023, Siemens and Swinburne University of Technology have agreed to set up the most advanced future Energy Transition Hub of its kind in Australia in at the University’s Hawthorn campus in Melbourne. Featuring some of the most advanced digital energy technology from Siemens and the technical, R&D and teaching expertise of Swinburne, the $5.2 million Hub aims to build a future energy grid laboratory accessible to students and industry.
Grid Types Covered:
• On-Grid
• Off-Grid
• Hybrid
Service Models Covered:
• Design and Engineering
• Installation and Commissioning
• Software as a Service
• Operation and Maintenance
• Financing
• Performance-Based Contracting
Technologies Covered:
• Solar PV
• Wind Power
• Bioenergy
• Fuel Cells
• Battery Storage
• Combined Heat and Power (CHP)
• Energy Management Systems
Applications Covered:
• Residential
• Commercial
• Military
• Remote Areas
• Utility-Scale Projects
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2022, 2023, 2024, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Technology Analysis
3.7 Application Analysis
3.8 Emerging Markets
3.9 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Microgrid as a Service Market, By Grid Type
5.1 Introduction
5.2 On-Grid
5.3 Off-Grid
5.4 Hybrid
6 Global Microgrid as a Service Market, By Service Model
6.1 Introduction
6.2 Design and Engineering
6.3 Installation and Commissioning
6.4 Software as a Service
6.5 Operation and Maintenance
6.6 Financing
6.7 Performance-Based Contracting
7 Global Microgrid as a Service Market, By Technology
7.1 Introduction
7.2 Solar PV
7.3 Wind Power
7.4 Bioenergy
7.5 Fuel Cells
7.6 Battery Storage
7.7 Combined Heat and Power (CHP)
7.8 Energy Management Systems
8 Global Microgrid as a Service Market, By Application
8.1 Introduction
8.2 Residential
8.3 Commercial
8.4 Military
8.5 Remote Areas
8.6 Utility-Scale Projects
9 Global Microgrid as a Service Market, By Geography
9.1 Introduction
9.2 North America
9.2.1 US
9.2.2 Canada
9.2.3 Mexico
9.3 Europe
9.3.1 Germany
9.3.2 UK
9.3.3 Italy
9.3.4 France
9.3.5 Spain
9.3.6 Rest of Europe
9.4 Asia Pacific
9.4.1 Japan
9.4.2 China
9.4.3 India
9.4.4 Australia
9.4.5 New Zealand
9.4.6 South Korea
9.4.7 Rest of Asia Pacific
9.5 South America
9.5.1 Argentina
9.5.2 Brazil
9.5.3 Chile
9.5.4 Rest of South America
9.6 Middle East & Africa
9.6.1 Saudi Arabia
9.6.2 UAE
9.6.3 Qatar
9.6.4 South Africa
9.6.5 Rest of Middle East & Africa
10 Key Developments
10.1 Agreements, Partnerships, Collaborations and Joint Ventures
10.2 Acquisitions & Mergers
10.3 New Product Launch
10.4 Expansions
10.5 Other Key Strategies
11 Company Profiling
11.1 Schneider Electric
11.2 Siemens AG
11.3 ABB Group
11.4 General Electric Company
11.5 Eaton Corporation
11.6 Spirae
11.7 Anbaric Transmission
11.8 Northern Power Systems Corp.
11.9 Pareto Energy
11.10 ENGIE
11.11 Ameresco
11.12 PowerSecure
11.13 Hitachi Energy Ltd
11.14 Toshiba Corp.
11.15 S&C Electric Co.
11.16 Aggreko
11.17 Green Energy Corp
11.18 EnSync Energy
List of Tables
1 Global Microgrid as a Service Market Outlook, By Region (2022-2030) ($MN)
2 Global Microgrid as a Service Market Outlook, By Grid Type (2022-2030) ($MN)
3 Global Microgrid as a Service Market Outlook, By On-Grid (2022-2030) ($MN)
4 Global Microgrid as a Service Market Outlook, By Off-Grid (2022-2030) ($MN)
5 Global Microgrid as a Service Market Outlook, By Hybrid (2022-2030) ($MN)
6 Global Microgrid as a Service Market Outlook, By Service Model (2022-2030) ($MN)
7 Global Microgrid as a Service Market Outlook, By Design and Engineering (2022-2030) ($MN)
8 Global Microgrid as a Service Market Outlook, By Installation and Commissioning (2022-2030) ($MN)
9 Global Microgrid as a Service Market Outlook, By Software as a Service (2022-2030) ($MN)
10 Global Microgrid as a Service Market Outlook, By Operation and Maintenance (2022-2030) ($MN)
11 Global Microgrid as a Service Market Outlook, By Financing (2022-2030) ($MN)
12 Global Microgrid as a Service Market Outlook, By Performance-Based Contracting (2022-2030) ($MN)
13 Global Microgrid as a Service Market Outlook, By Technology (2022-2030) ($MN)
14 Global Microgrid as a Service Market Outlook, By Solar PV (2022-2030) ($MN)
15 Global Microgrid as a Service Market Outlook, By Wind Power (2022-2030) ($MN)
16 Global Microgrid as a Service Market Outlook, By Bioenergy (2022-2030) ($MN)
17 Global Microgrid as a Service Market Outlook, By Fuel Cells (2022-2030) ($MN)
18 Global Microgrid as a Service Market Outlook, By Battery Storage (2022-2030) ($MN)
19 Global Microgrid as a Service Market Outlook, By Combined Heat and Power (CHP) (2022-2030) ($MN)
20 Global Microgrid as a Service Market Outlook, By Energy Management Systems (2022-2030) ($MN)
21 Global Microgrid as a Service Market Outlook, By Application (2022-2030) ($MN)
22 Global Microgrid as a Service Market Outlook, By Residential (2022-2030) ($MN)
23 Global Microgrid as a Service Market Outlook, By Commercial (2022-2030) ($MN)
24 Global Microgrid as a Service Market Outlook, By Military (2022-2030) ($MN)
25 Global Microgrid as a Service Market Outlook, By Remote Areas (2022-2030) ($MN)
26 Global Microgrid as a Service Market Outlook, By Utility-Scale Projects (2022-2030) ($MN)
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
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