LATIN AMERICA MICROGRID MARKET 2022-2028

Energy, Power & Utilities | Utilities

LATIN AMERICA MICROGRID MARKET 2022-2028

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

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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.


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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

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Table of Content

1. 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

List of Tables

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)  

List of Figures

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)

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