Microgrid Market Growth, Trends Outlook and Forecasts to 2020

Technavio Announces the Publication of its Research Report Global Microgrid Market 2016-2020

Technavio recognizes the following companies as the key players in the global microgrid market: ABB, GE-Alstom Energy, Lockheed Martin, Schneider Electric, and Siemens.

Other Prominent Vendors in the market are: Chevron Energy, Cummins, Echelon, Encorp, General Microgrids, Honeywell, Mera Gao Power, Microgrid Solar, Pareto Energy¸ Power Analytics, S&C Electric Company, SMA, Spirae, and Toshiba.

Browse full report with TOC@ https://marketreportscenter.com/reports/368490/global-microgrid-market-2016-2020

Commenting on the report, an analyst from Technavios team said: Increase in research & development will be a key trend for market growth. Microgrid systems are more flexible compared with conventional distribution systems. Microgrid systems are more resilient as a result of various R&D activities taking place around the world. Several specialized organizations are working on microgrid development projects. For instance, dynamic microgrids that can accommodate various energy sources and those that are self-sustaining with self-healing capabilities are being researched in the Brookhaven National Laboratory, New York, US.”

According to the report, rise in natural calamities will be a key driver for market growth. Natural disasters are making a business case for microgrids, and are driving their adoption across the world, especially in regions that are frequently affected by natural calamities, such as the southern part of the US. As a large portion of the power can be generated on site, microgrids provide a higher degree of reliability for mission-critical facilities such as military base, hospitals, and data centers that need to function continuously under any circumstance.

Further, the report states that high implementation costs will be a challenge for the market. A microgrid is built according to the needs of a variety of dynamic load types and is capable...