Market by Utilization Type, Component, Connectivity, Industry Vertical, and Country Outlook | Forecast 2022-2028
As per Triton’s report, the
microgrid market in Latin America is anticipated to progress at a CAGR of 10.61% during the forecasted
period 2022-2028.
Report scope can be customized per your requirements. Request For Customization
The
countries studied in the given region are:
•
Brazil
•
Mexico
•
Rest of Latin America
Brazil
secures the majority of shares in the microgrid market in the region. The region heavily relies on fossil fuels for
electricity generation, especially in Mexico, Chile, and Panama. The burden of
electricity supply is not sustainable due to high fuel price volatility,
motivating the governments to diversify energy production by focusing on
renewable resources. In countries like Brazil and Uruguay, the renewable energy
potential, especially hydro, is expanding. Such developments are expected to
surge the need for better electronic systems, thereby driving the microgrid
market.
Brazil’s
electricity generation is mainly from renewable sources, with hydro accounting
for 63% of power production. Moreover, the large and small-scale plants
represent 3.8% of the nation’s power capacity. Grid reliability is a major
issue wherein distribution networks are mostly congested, leading to a high
number of outages in a year. This encouraged Neoenergia to pilot its first
microgrid in northeast Brazil, comprising solar PV that proved sufficient to
serve around 103 residential units. The company also launched a multilink
concentrator for deployment in the smart grid. Such steps by market players
widen the scope and growth of the microgrid market.
Furthermore, Mexico faces issues pertaining to
connectivity and coordination in the evolving energy matrix, making it
vulnerable to interruptions. These disruptions are expected to support
microgrid adoption for efficient and safe power supply, simultaneously boosting
the market.
In recent years, corporate energy purchasers
have become aware of the benefit of entering the energy value chain due to IoT
and analytics. They believe microgrids can regain control over the energy
sector, preventing high costs and risk fluctuations. In this regard, microgrid
software enables companies to cut operating expenses without sacrificing
productivity. It helps analyze energy use patterns and optimizes energy
expenses. The market is segmented into
component, utilization type, industry vertical, and connectivity. The
component segment includes software, hardware, and services.
The
major firms in the market include Cummins Inc, Power Engineers Incorporated,
NRG Energy Inc, Eaton Corporation Plc, General Electric Company, and S&C
Electric Company.
Eaton Corporation Plc is a power management
company offering electrical and industrial components, residential products,
power quality, circuit protection, fire detection, wiring devices, and other
products. Its product line also includes microgrid solutions that assist
companies in achieving electrical energy cost savings, resilience, and utility
independence. Eaton serves clients across 175 countries, including in the Latin
American nations.
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 Latin America 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 LA
microgrid market’s growth during the upcoming years
Want to get specific insights? Our team of
analysts can customize this report based on your preferences. Connect with us here.
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VIEW REPORT1. LATIN
AMERICA 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. LATIN
AMERICA MICROGRID MARKET OUTLOOK - BY UTILIZATION TYPE
3.1. METROPOLITAN
3.2. SEMI-URBAN
3.3. RURAL
4. LATIN
AMERICA 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. LATIN
AMERICA MICROGRID MARKET OUTLOOK - BY CONNECTIVITY
5.1. GRID
CONNECTED
5.2. ISLAND
GRID
6. LATIN
AMERICA 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. LATIN
AMERICA MICROGRID MARKET – COUNTRY OUTLOOK
7.1. BRAZIL
7.2. MEXICO
7.3. REST
OF LATIN AMERICA
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
TABLE
1: LATIN AMERICA 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: LATIN AMERICA MICROGRID MARKET, BY UTILIZATION TYPE, 2022-2028 (IN $
MILLION)
TABLE
8: LATIN AMERICA MICROGRID MARKET, BY COMPONENT, 2022-2028 (IN $ MILLION)
TABLE
9: LATIN AMERICA MICROGRID MARKET, BY HARDWARE, 2022-2028 (IN $ MILLION)
TABLE
10: LATIN AMERICA MICROGRID MARKET, BY CONNECTIVITY, 2022-2028 (IN $ MILLION)
TABLE
11: LATIN AMERICA MICROGRID MARKET, BY INDUSTRY VERTICAL, 2022-2028 (IN $
MILLION)
TABLE
12: LATIN AMERICA MICROGRID MARKET, BY COUNTRY OUTLOOK, 2022-2028 (IN $
MILLION)
FIGURE
1: RENEWABLE ELECTRICITY GENERATION, BY SOURCE, IN 2018-2020
FIGURE
2: MARKET ATTRACTIVENESS INDEX
FIGURE
3: LATIN AMERICA MICROGRID MARKET, BY UTILIZATION TYPE, 2021 & 2028 (IN %)
FIGURE
4: LATIN AMERICA MICROGRID MARKET, BY METROPOLITAN, 2022-2028 (IN $ MILLION)
FIGURE
5: LATIN AMERICA MICROGRID MARKET, BY SEMI-URBAN, 2022-2028 (IN $ MILLION)
FIGURE
6: LATIN AMERICA MICROGRID MARKET, BY RURAL, 2022-2028 (IN $ MILLION)
FIGURE
7: LATIN AMERICA MICROGRID MARKET, BY COMPONENT, 2021 & 2028 (IN %)
FIGURE
8: LATIN AMERICA MICROGRID MARKET, BY HARDWARE, 2022-2028 (IN $ MILLION)
FIGURE
9: LATIN AMERICA MICROGRID MARKET, BY HARDWARE, 2021 & 2028 (IN %)
FIGURE
10: LATIN AMERICA MICROGRID MARKET, BY POWER GENERATORS, 2022-2028 (IN $
MILLION)
FIGURE
11: LATIN AMERICA MICROGRID MARKET, BY ENERGY STORAGE, 2022-2028 (IN $ MILLION)
FIGURE
12: LATIN AMERICA MICROGRID MARKET, BY CONTROLLERS, 2022-2028 (IN $ MILLION)
FIGURE
13: LATIN AMERICA MICROGRID MARKET, BY SOFTWARE, 2022-2028 (IN $ MILLION)
FIGURE
14: LATIN AMERICA MICROGRID MARKET, BY SERVICES, 2022-2028 (IN $ MILLION)
FIGURE
15: LATIN AMERICA MICROGRID MARKET, BY CONNECTIVITY, 2021 & 2028 (IN %)
FIGURE
16: LATIN AMERICA MICROGRID MARKET, BY GRID CONNECTED, 2022-2028 (IN $ MILLION)
FIGURE
17: LATIN AMERICA MICROGRID MARKET, BY ISLAND GRID, 2022-2028 (IN $ MILLION)
FIGURE
18: LATIN AMERICA MICROGRID MARKET, BY INDUSTRY VERTICAL, 2021 & 2028 (IN
%)
FIGURE
19: LATIN AMERICA MICROGRID MARKET, BY COMMERCIAL & INDUSTRIAL, 2022-2028
(IN $ MILLION)
FIGURE
20: LATIN AMERICA MICROGRID MARKET, BY HEALTHCARE, 2022-2028 (IN $ MILLION)
FIGURE
21: LATIN AMERICA MICROGRID MARKET, BY EDUCATIONAL INSTITUTIONS, 2022-2028 (IN
$ MILLION)
FIGURE
22: LATIN AMERICA MICROGRID MARKET, BY MILITARY & DEFENSE, 2022-2028 (IN $
MILLION)
FIGURE
23: LATIN AMERICA MICROGRID MARKET, BY GOVERNMENT & UTILITIES, 2022-2028
(IN $ MILLION)
FIGURE
24: LATIN AMERICA MICROGRID MARKET, BY OTHER INDUSTRY VERTICALS, 2022-2028 (IN
$ MILLION)
FIGURE
25: LATIN AMERICA MICROGRID MARKET, BY COUNTRY OUTLOOK, 2021 & 2028 (IN %)
FIGURE
26: BRAZIL MICROGRID MARKET 2022-2028 (IN $ MILLION)
FIGURE
27: MEXICO MICROGRID MARKET 2022-2028 (IN $ MILLION)
FIGURE
28: REST OF LATIN AMERICA MICROGRID MARKET 2022-2028 (IN $ MILLION)