Asia Pacific Microgrid Market size is anticipated to rise exponentially between 2020 and 2026 due to rising inclination toward the renewable energy adoption along with growing investment towards the deployment of regional small and medium scale power infrastructure. Growing demand for off grid electricity along with ongoing commercialization and urbanization enhances the demand for electricity which in turn favors the market expansion.
Expanding utility-based grid networks to integrate a sustainable electric infrastructure across the region coupled with the large-scale deployment of renewable technology has positively influenced the on-grid microgrid deployment. Favorable government incentive including feed-in tariffs & similar reforms strengthen the demand for grid-integrated sustainable establishments.
Asia Pacific AC microgrid market will witness a significant growth till 2026 owing to its ability including lower transmission losses, lesser heat generation, and effective & flexible high-end voltage levels. Ease of controlling and monitoring properties coupled with ease of electric storage integration will further thrust the market outlook. In addition, growing consumer inclination toward adoption of this technology when compared to its alternative will augment the market size.
Rapid industrialization coupled with deployment of large-capacity energy generation facilities will thrust the demand for diesel generator based microgrid networks. Increasing demand for heavy-duty generators across various industrial sectors will further drive the product adoption. Although volatile crude prices in the recent years have stifled the technological penetration; however, low overall installation costs when compared to other auxiliary sources will boost the industry growth.
The lithium-ion technology owing to effective and efficient performance along with improved life cycle in comparison to its lead-acid counterparts has witnessed an extensive penetration across the industry. In 2018, the U.S. has proposed investments over USD 25 Million towards the development and integration of improved and enhanced lithium-ion technology across its national power grid. The nation aims at the development of reliable and efficient large-scale grid storage technology in the years to come.
Rapid urbanization along with favorable government renewable reforms for residential & commercial sector will drive the Asia Pacific microgrid market size. Sustainable on-site generation technologies along with smart control networking initiatives will complement the technology adoption. Moreover, increasing community-based electrification demand coupled with increasing public & private funds toward the adoption of distributed generation units will augment the industry landscape.
Rising adoption of advanced technologies which includes machine learning, remote sensing and remote management will complement the demand for autonomous operations. In addition, ease of operations, low costs as well as immediate usability of this technology are some key parameters favoring the solar panel cleaning industry. Additionally, efforts to limit the dependence on manual labor along with technique to minimize the water usage during the cleaning process will escalate the market demand.
Growing integration of solar based technologies as well as considerable demand for sustainable and energy infrastructure is set to drive the Japan microgrid market revenue. Introduction of favorable schemes and programs toward the development of decentralized renewable farms will sway the market expansion. Moreover, the industry witnessed minimal COVID–19 pandemic impact due to minimal limitations towards development of green powered sources. Industry observed no or negligible delay in projects during the pandemic.
Prominent companies operational across the Asia Pacific microgrid market include Toshiba Corporation, Schneider Electric, ABB, Siemens, Eaton Corporation, General Electric, Hitachi, and Global Microgrid Technologies.