Global microgrid market to grow at a CAGR of 13.67% from 2016 to 2020: Research Beam

According to a report “Global Microgrid Market 2016-2020,” published by Research Beam the microgrid market is expected to grow at a CAGR of 13.67% from 2016 to 2020.

The research firm Technavio in its new report offers an extensive analysis of top-vendor offerings, Porter’s Five Forces model, leading segments, and key manufacturers. Current market trends are outlined and estimations of market size by 2020 are made.

A microgrid is capable of producing power, distributing it, and controlling the flow of energy supplied to consumers within a specified geography. It can function autonomously or operate parallel with a conventional grid. However, compared with a conventional grid, the power generated by a microgrid is supplied to establishments or houses that are situated in close proximity to the plant. This reduces transmission and distribution losses, which are generally associated with centralized power generation.

The report has been prepared based on an in-depth market analysis with inputs from industry experts and covers the market landscape and its growth prospects over the coming years notes the company. The report also includes a discussion of the key vendors like ABB, GE-Alstom Energy, Lockheed Martin, Schneider Electric, Siemens and Other prominent vendors like Chevron Energy, Cummins, Echelon, Encorp, General Microgrids, Honeywell, Mera Gao Power, Microgrid Solar,Pareto Energy, Power Analytics, S&C Electric Company, SMA, Spirae and Toshiba operating in this market.