Microgrid Market : Global Industry Analysis , Trends , Market Size and Forecasts up to 2024
2016 and this trend is likely to continue over the forecast period . The Fuel cell followed by Solar PV segment is anticipated to grow at the highest CAGR over the forecast period . Among the regions , North America region along accounted for nearly 70 % of the global microgrid market revenue in terms of value in 2015 and 2016 . The rapid growth in government usages in emerging markets of Asia-pacific is likely to drive the growth in the region at the swiftest CAGR over the forecast period .
Among the product hybrid micro grid market share is set to witness strong growth on account of simplicity of compatibility with AC , DC grid and supportable energy technologies . Due to adoption of such technologies will further drive the micro grid market .
Among the applications education dominated the micro grid market . As the government spending towards the improvement of education infrastructure for ensuring school education in rural areas is rising the demand for micro-grid market . The developing countries including India and china is also expected to have the positive impact .
GLOBAL MICROGRID MARKET , 2016 - 2024 ( USD MILLION )
2016 2017 2018 2019 2020 2021 2022 2023 2024
Value
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