ASIA-PACIFIC MICROGRID MARKET 2022-2028

Energy, Power & Utilities | Utilities

ASIA-PACIFIC MICROGRID MARKET 2022-2028

Market by Utilization Type, Component, Connectivity, Industry Vertical, and Country Outlook | Forecast 2022-2028

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Triton Market Research’s report infers that the Asia-Pacific microgrid market is expected to progress with a compound annual growth rate of 11.04% during the forecast period 2022-2028.




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The countries considered in the region are:

•         Japan

•         South Korea

•         India

•         China

•         ASEAN Countries

•         Australia & New Zealand

•         Rest of Asia-Pacific

In the region, China secures the major shares in the microgrid market. The rise in population base across the region has resulted in high electricity demand. As a result, governments are investing heavily to boost the adoption of microgrids. Several nations lack reliable utility grid infrastructure, which has further increased the need and demand for microgrids. The collaboration between government bodies, international development agencies, and energy companies is set to drive the studied market’s growth significantly over the forecast period.

In China, the electrical industry is the largest CO2 contributor. Estimates indicate the emission levels to surge significantly, owing to the rise in electricity demand. In this regard, microgrids have become popular as the nation undergoes rapid industrialization and urbanization. The country also faces the issue of exhaustion of energy resources and environmental degradation, which is expected to augment the deployment of microgrids. Therefore, these factors are driving the studied market’s growth.

Japan, on the other hand, is developing a community with decentralized energy on account of various natural disasters. For instance, power outages due to the Great East Japan Earthquake highlighted the electric power system’s shortcomings, mainly relying on large-scale power networks. Thus, the rising focus on developing the electric power system is estimated to fuel the microgrid market’s progression.

Grid connected microgrids are deployed as independent networks with many characteristics of a conventional electricity grid, such as generators and storage. They are not dependent on the main grid but can be used as a backup. The market’s growth is assessed based on connectivity, industry vertical, component, and utilization type. The connectivity segment is bifurcated into grid connected and island grid.

The prominent companies in the market include Hitachi Ltd, Duke Energy Corporation, Schneider Electric, and Exelon Corporation. 

Hitachi Ltd is engaged in offering IT systems, social infrastructure and industrial systems, automotive systems, electronic equipment, and smart life systems, among others. It also offers system integration, cloud services, servers, ATMs, storage, and telecommunication products. Its product line includes grid-connected microgrids including solar energy resources. Hitachi has operations across the globe, with headquarters based in Tokyo, Japan.


Key deliverables of the report:

      Market CAGR during the forecasting years 2022-2028

      Detailed data highlighting key insights, industry components, and market strategies


  Comprehensive information and estimation of the microgrid market revenue growth in the Asia-Pacific and its influence on the parent market


      In-depth study of forthcoming trends in consumer behavioral patterns


      A meticulous analysis of the competitive landscape, vendor scorecard, and Porter’s Five Forces


      A wide-ranging study of factors that will challenge the APAC microgrid market’s growth during the upcoming years

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Table of Content

1. ASIA-PACIFIC MICROGRID MARKET - SUMMARY

2. INDUSTRY OUTLOOK

2.1. IMPACT OF COVID-19 ON THE MICROGRID MARKET

2.2. KEY INSIGHTS

2.2.1. GROWING USE OF MICROGRIDS IN SOLAR ENERGY

2.2.2. INCREASE IN SMART CITIES INITIATIVES

2.3. PORTER’S FIVE FORCES ANALYSIS

2.3.1. THREAT OF NEW ENTRANTS

2.3.2. THREAT OF SUBSTITUTES

2.3.3. BARGAINING POWER OF BUYERS

2.3.4. BARGAINING POWER OF SUPPLIERS

2.3.5. THREAT OF COMPETITIVE RIVALRY

2.4. MARKET ATTRACTIVENESS INDEX

2.5. VENDOR SCORECARD

2.6. KEY MARKET STRATEGIES

2.6.1. PRODUCT LAUNCHES

2.6.2. COLLABORATIONS

2.6.3. BUSINESS DIVESTITURES

2.6.4. ACQUISITIONS

2.7. MARKET DRIVERS

2.7.1. COMBATING POWER OUTAGES DURING SEVERE WEATHER USING MICROGRIDS

2.7.2. GROWING ELECTRICITY CONSUMPTION WORLDWIDE

2.8. MARKET CHALLENGES

2.8.1. HURDLES POSED BY REGULATORY FRAMEWORK

2.8.2. HIGH MAINTENANCE AND INSTALLATION OF MICROGRIDS

2.9. MARKET OPPORTUNITIES

2.9.1. RISING USE OF INTERNET OF THINGS (IoT) IN MICROGRIDS

2.9.2. RISE IN CLEAN ENERGY INTEGRATION BY GOVERNMENT AND PRIVATE SECTOR

3. ASIA-PACIFIC MICROGRID MARKET OUTLOOK - BY UTILIZATION TYPE

3.1. METROPOLITAN

3.2. SEMI-URBAN

3.3. RURAL

4. ASIA-PACIFIC MICROGRID MARKET OUTLOOK - BY COMPONENT

4.1. HARDWARE

4.1.1. POWER GENERATORS

4.1.2. ENERGY STORAGE

4.1.3. CONTROLLERS

4.2. SOFTWARE

4.3. SERVICES

5. ASIA-PACIFIC MICROGRID MARKET OUTLOOK - BY CONNECTIVITY

5.1. GRID CONNECTED

5.2. ISLAND GRID

6. ASIA-PACIFIC MICROGRID MARKET OUTLOOK - BY INDUSTRY VERTICAL

6.1. COMMERCIAL & INDUSTRIAL

6.2. HEALTHCARE

6.3. EDUCATIONAL INSTITUTIONS

6.4. MILITARY & DEFENSE

6.5. GOVERNMENT & UTILITIES

6.6. OTHER INDUSTRY VERTICALS

7. ASIA-PACIFIC MICROGRID MARKET – COUNTRY OUTLOOK

7.1. CHINA

7.2. JAPAN

7.3. INDIA

7.4. SOUTH KOREA

7.5. ASEAN COUNTRIES

7.6. AUSTRALIA & NEW ZEALAND

7.7. REST OF ASIA-PACIFIC

8. COMPETITIVE LANDSCAPE

8.1. HITACHI LTD

8.2. SCHNEIDER ELECTRIC

8.3. DUKE ENERGY CORPORATION

8.4. EXELON CORPORATION

8.5. SIEMENS AG

8.6. FAIRBANKS MORSE

8.7. NATIONAL GRID PLC

8.8. S&C ELECTRIC COMPANY

8.9. BLOOM ENERGY

8.10. CUMMINS INC

8.11. FUELCELL ENERGY INC

8.12. GENERAL ELECTRIC COMPANY

8.13. POWER ENGINEERS INCORPORATED

8.14. NRG ENERGY INC

8.15. EATON CORPORATION PLC

9. RESEARCH METHODOLOGY & SCOPE

9.1. RESEARCH SCOPE & DELIVERABLES

9.2. SOURCES OF DATA

9.3. RESEARCH METHODOLOGY

List of Tables

TABLE 1: ASIA-PACIFIC MICROGRID MARKET, BY COUNTRY OUTLOOK, 2022-2028 (IN $ MILLION)

TABLE 2: VENDOR SCORECARD

TABLE 3: LIST OF PRODUCT LAUNCHES

TABLE 4: LIST OF COLLABORATIONS

TABLE 5: LIST OF BUSINESS DIVESTITURES

TABLE 6: LIST OF ACQUISITIONS

TABLE 7: ASIA-PACIFIC MICROGRID MARKET, BY UTILIZATION TYPE, 2022-2028 (IN $ MILLION)

TABLE 8: ASIA-PACIFIC MICROGRID MARKET, BY COMPONENT, 2022-2028 (IN $ MILLION)

TABLE 9: ASIA-PACIFIC MICROGRID MARKET, BY HARDWARE, 2022-2028 (IN $ MILLION)

TABLE 10: ASIA-PACIFIC MICROGRID MARKET, BY CONNECTIVITY, 2022-2028 (IN $ MILLION)

TABLE 11: ASIA-PACIFIC MICROGRID MARKET, BY INDUSTRY VERTICAL, 2022-2028 (IN $ MILLION)

TABLE 12: ASIA-PACIFIC MICROGRID MARKET, BY COUNTRY OUTLOOK, 2022-2028 (IN $ MILLION)

List of Figures

FIGURE 1: RENEWABLE ELECTRICITY GENERATION, BY SOURCE, IN 2018-2020

FIGURE 2: MARKET ATTRACTIVENESS INDEX

FIGURE 3: ASIA-PACIFIC MICROGRID MARKET, BY UTILIZATION TYPE, 2021 & 2028 (IN %)

FIGURE 4: ASIA-PACIFIC MICROGRID MARKET, BY METROPOLITAN, 2022-2028 (IN $ MILLION)

FIGURE 5: ASIA-PACIFIC MICROGRID MARKET, BY SEMI-URBAN, 2022-2028 (IN $ MILLION)

FIGURE 6: ASIA-PACIFIC MICROGRID MARKET, BY RURAL, 2022-2028 (IN $ MILLION)

FIGURE 7: ASIA-PACIFIC MICROGRID MARKET, BY COMPONENT, 2021 & 2028 (IN %)

FIGURE 8: ASIA-PACIFIC MICROGRID MARKET, BY HARDWARE, 2022-2028 (IN $ MILLION)

FIGURE 9: ASIA-PACIFIC MICROGRID MARKET, BY HARDWARE, 2021 & 2028 (IN %)

FIGURE 10: ASIA-PACIFIC MICROGRID MARKET, BY POWER GENERATORS, 2022-2028 (IN $ MILLION)

FIGURE 11: ASIA-PACIFIC MICROGRID MARKET, BY ENERGY STORAGE, 2022-2028 (IN $ MILLION)

FIGURE 12: ASIA-PACIFIC MICROGRID MARKET, BY CONTROLLERS, 2022-2028 (IN $ MILLION)

FIGURE 13: ASIA-PACIFIC MICROGRID MARKET, BY SOFTWARE, 2022-2028 (IN $ MILLION)

FIGURE 14: ASIA-PACIFIC MICROGRID MARKET, BY SERVICES, 2022-2028 (IN $ MILLION)

FIGURE 15: ASIA-PACIFIC MICROGRID MARKET, BY CONNECTIVITY, 2021 & 2028 (IN %)

FIGURE 16: ASIA-PACIFIC MICROGRID MARKET, BY GRID CONNECTED, 2022-2028 (IN $ MILLION)

FIGURE 17: ASIA-PACIFIC MICROGRID MARKET, BY ISLAND GRID, 2022-2028 (IN $ MILLION)

FIGURE 18: ASIA-PACIFIC MICROGRID MARKET, BY INDUSTRY VERTICAL, 2021 & 2028 (IN %)

FIGURE 19: ASIA-PACIFIC MICROGRID MARKET, BY COMMERCIAL & INDUSTRIAL, 2022-2028 (IN $ MILLION)

FIGURE 20: ASIA-PACIFIC MICROGRID MARKET, BY HEALTHCARE, 2022-2028 (IN $ MILLION)

FIGURE 21: ASIA-PACIFIC MICROGRID MARKET, BY EDUCATIONAL INSTITUTIONS, 2022-2028 (IN $ MILLION)

FIGURE 22: ASIA-PACIFIC MICROGRID MARKET, BY MILITARY & DEFENSE, 2022-2028 (IN $ MILLION)

FIGURE 23: ASIA-PACIFIC MICROGRID MARKET, BY GOVERNMENT & UTILITIES, 2022-2028 (IN $ MILLION)

FIGURE 24: ASIA-PACIFIC MICROGRID MARKET, BY OTHER INDUSTRY VERTICALS, 2022-2028 (IN $ MILLION)

FIGURE 25: ASIA-PACIFIC MICROGRID MARKET, BY COUNTRY OUTLOOK, 2021 & 2028 (IN %)

FIGURE 26: CHINA MICROGRID MARKET 2022-2028 (IN $ MILLION)

FIGURE 27: JAPAN MICROGRID MARKET 2022-2028 (IN $ MILLION)

FIGURE 28: INDIA MICROGRID MARKET 2022-2028 (IN $ MILLION)

FIGURE 29: SOUTH KOREA MICROGRID MARKET 2022-2028 (IN $ MILLION)

FIGURE 30: ASEAN COUNTRIES MICROGRID MARKET 2022-2028 (IN $ MILLION)

FIGURE 31: AUSTRALIA & NEW ZEALAND MICROGRID MARKET 2022-2028 (IN $ MILLION)

FIGURE 32: REST OF ASIA-PACIFIC MICROGRID MARKET 2022-2028 (IN $ MILLION)

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