Microgrid Market 2024: Research Methodology Focuses On Exploring Major Factors Influencing the Industry Development

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Microgrid Market By Component , Technology , Applications, Region 2017-2024: Global Market Insights, Inc. https://www.google.co.in/url?sa=i&rct=j&q=&esrc=s&source=images&cd=&cad=rja&uact=8&ved=2ahUKEwisorztjc3ZAhVEP48KHTmrA2cQjRx6BAgAEAY&url=https%3A%2F%2Fagriculture.trimble.com%2Fprecision-ag%2Fabout%2Flearn%2F&psig=AOvVaw06AXM-trUaXr7iuPeabgIf&ust=1520061862616754

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In an era where distributed energy sources are continually promulgated in power networks, microgrid market stands to gain remarkable prominence, given the systems’ exceptional credibility of ensuring reliable operation in distributed grids with robustness and high flexibility. As the energy demand in conjunction with the environmental concerns have increased dramatically since the past decade, experts believe, decentralized electricity supply through LT lines might not be an optimal solution to address the requirement, especially across remote areas. In fact, with the increasing penetration of renewable energy sources in mainstream electricity supply, the operational reliability of the grid network has become an intricate issue for the power giants. Having recognized the stupendous potential of microgrid network in the renewable energy cosmos, various government entities of major economies are making rigorous efforts to exploit its maximum utilization, which, quite overtly is leaving a positive influence on the overall microgrid industry share. This is quite evident from the massive number of microgrid projects that are presently operational across the globe. According to some of the trusted reports, more than 1840 projects that represent a power capacity of almost 19280 MW are under development worldwide, with a proposed plan of over 170 new projects reported to come onboard soon. Microgrid Industry Overview

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Microgrid are small energy system that are capable of balancing captive supply and demand resources to maintain stable supply of electricity. They contain loads and distributed energy sources including storage devices, controllable loads and generators and can function in coordinated and controlled way either when connected to the centralized grid network or when islanded. Prime applications of these networks are in military, utility, remote locations, industrial and commercial sector. Microgrid Industry Background

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Browse Full Market Research Report Of Microgrid Market @ http://bit.ly/2FwAj73 Request for a Sample of this Research report @ https://www.gminsights.com/request-sample/detail/1187

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Europe Microgrid Market Size, By Power Source, 2016 & 2024 (USD million)

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Industry Coverage

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The microgrid concept is aptly providing a platform that is proliferating distributed electricity generation and efficient power delivery with least compromise on environmental viability. However, in this regard, it is imperative to mention that microgrid market giants have been lately facing a wide array of daunting challenges such as establishing standards for microgrid design and extensive R&D requirement. Nonetheless, in the face of the severe energy crisis that has led to a subsequent penetration of renewable energy sources, microgrid market is set to amass exceeding proceeds from both industrial and commercial applications. In terms of commercialization, Global Market Insights Inc., forecasts overall microgrid industry to exceed a valuation of USD 19 billion by 2024. Microgrid Industry By Applications

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Statistics depict that under the different framework programs such as FP5, FP6, FP7, initiated by European Commission, more than 80 projects are being funded by the regional government. Perhaps marred by the fact that this program mainly deals with an aim of modernizing European energy grid through integration of renewable energy sources, it is undeniable that it is bound to shed a positive light on microgrid industry share. So far, as per the record, INEA (Innovation and Networks Executive Agency) has sanctioned almost 14 projects worth of almost USD 135 million under the canopy of the EU’s Horizon 2020 program. These figures give a clear picture of the immense growth scope of Europe microgrid market in the coming years. Other than Europe, China is also claimed to hold a strong ground in the global microgrid industry share. The exponential increase in power consumption in tandem with the growing investment by the regional government in rural electrification development can be primarily credited for the regional market demand. For the record, presently there are over 20 large-scale microgrid projects operational in China. Looking at the promising microgrid sector, big shot investors are betting big on the regional microgrid market. For instance, recently, Capstone Turbine, the renowned California based gas turbine manufacturer has inked a deal with the Chinese Government to supply microturbine for the country’s 10 MW microgrid network. With a strong pipeline of such encouraging initiatives, China microgrid market is slated to exceed a power generation capacity of 1 GW by the end of 2024. Microgrid Industry By Region

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Eminent players across the microgrid market include ABB, Schneider Electric, Siemens, Advanced Microgrid Solutions, Emersion, GE Alstom, Honeywell, EnSync Inc, Caterpillar, Viridity Energy Inc, Lockheed Martin Corporation, Exelon Corporation and Power Analytics Corporation. Competitive Microgrid Industry Share

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Market research reports: Key analytical components

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Market Insight Coverage

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Chapter 1. Methodology and Scope 1.1. Methodology 1.1.1. Initial data exploration 1.1.2. Statistical model and forecast 1.1.3. Industry insights and validation 1.1.4. Market definition & forecast parameters 1.2. Data Sources 1.2.1. Primary 1.2.2. Secondary Report Content

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Chapter 2. Executive Summary 2.1. Microgrid industry 3600 synopsis, 2014 - 2024 2.1.1. Business trends 2.1.2. Connectivity trends 2.1.3. Grid type trends 2.1.4. Power source trends 2.1.5. Storage device trends 2.1.6. Application trends 2.1.7. Regional trends Browse ToC Of Microgrid Market @ https://www.gminsights.com/toc/detail/microgrid-market Report Content

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Summary: Looking at the promising microgrid sector, big shot investors are betting big on the regional microgrid market. For instance, recently, Capstone Turbine, the renowned California based gas turbine manufacturer has inked a deal with the Chinese Government to supply microturbine for the country’s 10 MW microgrid network. With a strong pipeline of such encouraging initiatives, China microgrid market is slated to exceed a power generation capacity of 1 GW by the end of 2024. Request for a sample of this research report @ https://www.gminsights.com/request-sample/detail/1187

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