European Microgrid Market size is poised to grow exponentially between 2020 and 2026, according to a latest forecast report by Graphical Research.
Europe market will witness an upsurge on account of ongoing investments toward refurbishment and expansion of existing electrical networks. Integration of a sustainable electric infrastructure along with the expanding industrial and commercial sector will augment the market growth. Increasing concern toward climatic & environmental effects of fossil fuel favored by rigorous government initiatives to strengthen the environmental security will stimulate the market demand.
The rapid expansion of smart electric networks coupled with advancing distributed generation technologies will off-grid microgrid industry. Paradigm shift toward innovative energy storage systems along with advancing sustainable technologies will fuel the business potential. Increasing peak load demand in line with growing concerns toward grid stability and security of supply will positively sway the industry dynamic.
DC microgrid industry will gain an appreciable momentum during the forecast period owing to growing demand for speedy fault clearance facility and increasing demand for HVDC lines. Ongoing industrial expansion coupled with increasing urbanization rate will accelerate the industry outlook. Moreover, growing demand for reliable and continuous power supply will foster the market growth. Limited availability of land for landfills along with the surging consumer awareness toward waste management will stimulate the product deployment.
Browse detailed statistical insights from the report, “Europe Microgrid Market Size By Grid Type (AC Microgrid, DC Microgrid, Hybrid), By Connectivity (Grid Connected, Off-Grid), By Source (Diesel Generators, Natural Gas, Solar PV, CHP), By Storage (Lithium-Ion, Lead Acid, Flow Batteries, Flywheel), By Application (Healthcare, Educational Institutes, Military, Utility, Industrial/Commercial, Remote), Research Report, Country Outlook (Germany, France, UK, Russia, Spain, Italy), Price Trends, Growth Prospects, Competitive Industry Share & Forecasts, 2020 – 2026” along with the table of contents (ToC) @
The flywheels microgrid segment is anticipated to show tremendous growth till 2026 led by its increasing applicability across transportation, UPS, and similar deployments. The product offers key benefits including lower life-cycle costs, longer life and nominal replacement requirements, accelerating the market revenue growth. In addition, ongoing expansion of renewable technology coupled with regulatory inclination to balance the load on central grid systems will propel the industry size.
Effective fuel utilization coupled with higher plant efficiency when compared to auxiliary generation sources will foster the CHP-based microgrids. The stringent government norms in line with the reduction of greenhouse gas emissions favored by ongoing reforms pertaining to the energy security will fuel the source adoption.
Increasing focus toward public utility distribution microgrids along with an appreciable growth of investor-owned utility projects will fuel the UK microgrid industry. Growing focus toward the expansion of commercial and healthcare sector to fight COVID-19 crises will boost the product deployment. The rising investments from public and private institutions & companies toward the integration of sustainable energy technologies will escalate the market demand.
European microgrid market research report includes in-depth coverage of the industry with estimates & forecast in terms of Units and USD from 2015 to 2026, for the following segments:
Europe Market, By Connectivity
Europe Market, By Grid type
- AC microgrid
- DC microgrid
Europe Market, By Source
- Diesel generators
- Natural gas
- Solar PV
Europe Market, By Storage Device
- Lead acid
- Flow battery
Europe Market, By Application
- Educational institutes
The above information has been provided for the following countries: