Global Microgrid Market Size is valued at USD 36.2 Billion in 2024 and is predicted to reach USD 168.9 Billion by the year 2034 at a 16.8% CAGR during the forecast period for 2025-2034
Key Industry Insights & Findings from the Report:
A microgrid is a self-sufficient energy system that supplies a particular area, such as a medical facility, college campus, or commercial district. It doesn't require the assistance of a centralized grid to function autonomously. When connected to the main grid, a smart microgrid can also operate; even when it isn't, it operates as an electrical island. By lowering harmful emissions, renewable resources are used to their full potential, efficiency is increased, and long-term energy costs are predictable.
Government attempts to reduce carbon footprint and increase demand for dependable and secure power supply in commercial and industrial sectors around the world are projected to boost the microgrid market's expansion. The market is also anticipated to grow quickly across various end-user industries, including commercial, industrial, government, and healthcare, due to software designed to monitor and regulate distributed energy resources with integrated weather and load forecasts.
The microgrid sector is anticipated to produce a modest amount of cash in the upcoming years with minimal testing, development, and research investments. But as the microgrid industry matures, it will likely only produce small profits for the major participants in the next years.
The microgrid market is segmented based on connectivity, Offering, power source, pattern, types, power rating, and end-use. Based on connectivity, the market is categorized as grid-connected and off-grid connected. Based on offering, the market is segmented as hardware (power generators, energy storage systems, controllers), software, and services.
The market is segmented by power source: natural gas, solar P.V., combined heat and power, diesel, fuel cell and others. Based on Pattern, the market is segmented as urban/metropolitan, semi-urban and rural/island. Based on the types of microgrids, the market is segmented into ac microgrids, dc microgrids, and hybrid microgrids. Based on power rating, the market is segmented as less than 1 M.W., 1MW to 5MW, 5MW to 10MW and more than 10MW. On the basis of End Use, the market is segmented into commercial & industrial, remote areas, military, government, utilities, institutes & companies and healthcare.
The grid category is expected to hold a major share of the global microgrid market. The market share of the grid connectivity segment will increase over the next several years, and the quantity of money made from this product will increase significantly. In a grid-connected system, a highly accessible power grid coupled to the main grid at a point of common coupling can act as an additional power source for a microgrid. It increases energy efficiency and offers a safe and reliable power source, which is projected to hasten the market spread of microgrids. It offers protection for electricity against disasters brought on by storms, earthquakes, and tsunamis. Microgrid deployment is increasing due to the use of artificial intelligence (Al), which enables continuous adaptation and improvement of the operation of microgrid controllers.
During the anticipated period, the commercial & industrial segment will hold the largest market share in the polymers market. The commercial and industrial sector is anticipated to expand due to ongoing developments in creative and intelligent solutions that are in line with the current product deployments. Additionally, rapid urbanization in developing countries and government reforms that facilitate the development of commercial and industrial settings would accelerate sector expansion.
The North America Microgrid Market is expected to register the highest market share in revenue shortly. The market for microgrids globally also includes a sizable presence in North America. The United States, which has a strong legacy of energy industry innovation and a mature and well-developed energy infrastructure, dominates the region. Numerous factors, such as the rising demand for dependable and resilient energy systems, the uptake of renewable energy sources, and the implementation of beneficial laws and regulations, are fueling the expansion of the microgrid market in North America.
For instance, many states in the U.S. have developed incentive programs and set ambitious renewable energy targets to promote the implementation of microgrids. In addition, Asia Pacific will dominate the market due to the rising demand for dependable and sustainable energy sources, particularly in developing nations like India and China. This region is anticipated to account for a sizeable portion of the worldwide microgrid market. Energy demand in these nations has increased dramatically due to rising population and industrialization, which has spurred the expansion of the microgrid industry in the area. The development of the industry has also been assisted by governments in the Asia-Pacific region, implementing favorable policies and measures to support the deployment of microgrids.
| Report Attribute | Specifications |
| Market size value in 2024 | USD 36.2 Billion |
| Revenue forecast in 2034 | USD 168.9 Billion |
| Growth rate CAGR | CAGR of 16.8% from 2025 to 2034 |
| Quantitative units | Representation of revenue in US$ Mn, and CAGR from 2025 to 2034 |
| Historic Year | 2021 to 2024 |
| Forecast Year | 2025-2034 |
| Report coverage | The forecast of revenue, the position of the company, the competitive market statistics, growth prospects, and trends |
| Segments covered | Connectivity, Offering, Power Source, Types, Power Rating, And End-Use |
| Regional scope | North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
| Country scope | U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; The UK; France; Italy; Spain; China; Japan; India; South Korea; Southeast Asia; South Korea; Southeast Asia |
| Competitive Landscape | Schneider Electric (U.S.), Eaton Corporation (U.S.), Honeywell International Inc. (U.S.), Homer Energy (U.S.), S&C Electric (U.S.), and Power Analytics (U.S.) |
| Customization scope | Free customization report with the procurement of the report, Modifications to the regional and segment scope. Particular Geographic competitive landscape. |
| Pricing and available payment methods | Explore pricing alternatives that are customized to your particular study requirements. |
Microgrid Market By Connectivity-
Microgrid Market By Offering
Microgrid Market By Power Source
Microgrid Market By Pattern
Microgrid Market By Type-
Microgrid Market By Power Rating
Microgrid Market By End-Use
Microgrid Market By Region-
North America-
Europe-
Asia-Pacific-
Latin America-
Middle East & Africa-
Chapter 1. Methodology and Scope
1.1. Research Methodology
1.2. Research Scope & Assumptions
Chapter 2. Executive Summary
Chapter 3. Global Microgrid Market Snapshot
Chapter 4. Global Microgrid Market Variables, Trends & Scope
4.1. Market Segmentation & Scope
4.2. Drivers
4.3. Challenges
4.4. Trends
4.5. Investment and Funding Analysis
4.6. Industry Analysis – Porter’s Five Forces Analysis
4.7. Competitive Landscape & Market Share Analysis
4.8. Impact of Covid-19 Analysis
Chapter 5. Market Segmentation 1: by Connectivity Estimates & Trend Analysis
5.1. by Connectivity & Market Share, 2024 & 2034
5.2. Market Size (Value (US$ Mn)) & Forecasts and Trend Analyses, 2021 to 2034 for the following by Connectivity:
5.2.1. Grid Connected
5.2.2. Off-grid Connected
Chapter 6. Market Segmentation 2: by Offering Estimates & Trend Analysis
6.1. by Offering & Market Share, 2024 & 2034
6.2. Market Size (Value (US$ Mn)) & Forecasts and Trend Analyses, 2021 to 2034 for the following by Offering:
6.2.1. Hardware
6.2.2. Power Generators
6.2.3. Energy Storage Systems
6.2.4. Lithium-ion batteries
6.2.5. Flow batteries
6.2.6. Flywheels
6.2.7. Others
6.2.8. Controllers
6.2.9. Software
6.2.10. Services
Chapter 7. Market Segmentation 3: by Power Source Estimates & Trend Analysis
7.1. by Power Source & Market Share, 2024 & 2034
7.2. Market Size (Value (US$ Mn)) & Forecasts and Trend Analyses, 2021 to 2034 for the following by Power Source:
7.2.1. Natural Gas
7.2.2. Solar P.V.
7.2.3. Combined Heat and Power
7.2.4. Diesel
7.2.5. Fuel Cell
7.2.6. Others
Chapter 8. Market Segmentation 4: by Pattern Estimates & Trend Analysis
8.1. by Pattern & Market Share, 2024 & 2034
8.2. Market Size (Value (US$ Mn)) & Forecasts and Trend Analyses, 2021 to 2034 for the following by Pattern:
8.2.1. Urban/Metropolitan
8.2.2. Semiurban
8.2.3. Rural/island
Chapter 9. Market Segmentation 5: by Type Estimates & Trend Analysis
9.1. by Type & Market Share, 2024 & 2034
9.2. Market Size (Value (US$ Mn)) & Forecasts and Trend Analyses, 2021 to 2034 for the following by Type:
9.2.1. A.C. Microgrids
9.2.2. DC Microgrids
9.2.3. Hybrid Microgrids
Chapter 10. Market Segmentation 6: by Power Rating Estimates & Trend Analysis
10.1. by Power Rating & Market Share, 2024 & 2034
10.2. Market Size (Value (US$ Mn)) & Forecasts and Trend Analyses, 2021 to 2034 for the following by Power Rating:
10.2.1. Less than 1 M.W.
10.2.2. 1MW to 5MW
10.2.3. 5MW to 10MW
10.2.4. More than 10MW
Chapter 11. Market Segmentation 7: by End-Use Estimates & Trend Analysis
11.1. by End-Use & Market Share, 2024 & 2034
11.2. Market Size (Value (US$ Mn)) & Forecasts and Trend Analyses, 2021 to 2034 for the following by End-Use:
11.2.1. Commercial & Industrial
11.2.2. Remote Areas
11.2.3. Military
11.2.4. Government
11.2.5. Utilities
11.2.6. Institutes & Companies
11.2.7. Healthcare
Chapter 12. Microgrid Market Segmentation 8: Regional Estimates & Trend Analysis
12.1. North America
12.1.1. North America Microgrid Market Revenue (US$ Million) Estimates and Forecasts by Connectivity, 2021-2034
12.1.2. North America Microgrid Market Revenue (US$ Million) Estimates and Forecasts by Offering, 2021-2034
12.1.3. North America Microgrid Market Revenue (US$ Million) Estimates and Forecasts by Power Source, 2021-2034
12.1.4. North America Microgrid Market Revenue (US$ Million) Estimates and Forecasts by Pattern, 2021-2034
12.1.5. North America Microgrid Market Revenue (US$ Million) Estimates and Forecasts by Type, 2021-2034
12.1.6. North America Microgrid Market Revenue (US$ Million) Estimates and Forecasts by Power Rating, 2021-2034
12.1.7. North America Microgrid Market Revenue (US$ Million) Estimates and Forecasts by End-Use, 2021-2034
12.1.8. North America Microgrid Market Revenue (US$ Million) Estimates and Forecasts by country, 2021-2034
12.2. Europe
12.2.1. Europe Microgrid Market Revenue (US$ Million) Estimates and Forecasts by Connectivity, 2021-2034
12.2.2. Europe Microgrid Market Revenue (US$ Million) Estimates and Forecasts by Offering, 2021-2034
12.2.3. Europe Microgrid Market Revenue (US$ Million) Estimates and Forecasts by Power Source, 2021-2034
12.2.4. Europe Microgrid Market Revenue (US$ Million) Estimates and Forecasts by Pattern, 2021-2034
12.2.5. Europe Microgrid Market Revenue (US$ Million) Estimates and Forecasts by Type, 2021-2034
12.2.6. Europe Microgrid Market Revenue (US$ Million) Estimates and Forecasts by Power Rating, 2021-2034
12.2.7. Europe Microgrid Market Revenue (US$ Million) Estimates and Forecasts by End-Use, 2021-2034
12.2.8. Europe Microgrid Market Revenue (US$ Million) Estimates and Forecasts by country, 2021-2034
12.3. Asia Pacific
12.3.1. Asia Pacific Microgrid Market Revenue (US$ Million) Estimates and Forecasts by Connectivity, 2021-2034
12.3.2. Asia Pacific Microgrid Market Revenue (US$ Million) Estimates and Forecasts by Offering, 2021-2034
12.3.3. Asia-Pacific Microgrid Market Revenue (US$ Million) Estimates and Forecasts by Power Source, 2021-2034
12.3.4. Asia-Pacific Microgrid Market Revenue (US$ Million) Estimates and Forecasts by Pattern, 2021-2034
12.3.5. Asia Pacific Microgrid Market Revenue (US$ Million) Estimates and Forecasts by Type, 2021-2034
12.3.6. Asia Pacific Microgrid Market Revenue (US$ Million) Estimates and Forecasts by Power Rating, 2021-2034
12.3.7. Asia Pacific Microgrid Market Revenue (US$ Million) Estimates and Forecasts by End-Use, 2021-2034
12.3.8. Asia Pacific Microgrid Market Revenue (US$ Million) Estimates and Forecasts by country, 2021-2034
12.4. Latin America
12.4.1. Latin America Microgrid Market Revenue (US$ Million) Estimates and Forecasts by Connectivity, 2021-2034
12.4.2. Latin America Microgrid Market Revenue (US$ Million) Estimates and Forecasts by Offering, 2021-2034
12.4.3. Latin America Microgrid Market Revenue (US$ Million) Estimates and Forecasts by Power Source, 2021-2034
12.4.4. Latin America Microgrid Market Revenue (US$ Million) Estimates and Forecasts by Pattern, 2021-2034
12.4.5. Latin America Microgrid Market Revenue (US$ Million) Estimates and Forecasts by Type, 2021-2034
12.4.6. Latin America Microgrid Market Revenue (US$ Million) Estimates and Forecasts by Power Rating, 2021-2034
12.4.7. Latin America Microgrid Market Revenue (US$ Million) Estimates and Forecasts by End-Use, 2021-2034
12.4.8. Latin America Microgrid Market Revenue (US$ Million) Estimates and Forecasts by country, 2021-2034
12.5. Middle East & Africa
12.5.1. Middle East & Africa Microgrid Market Revenue (US$ Million) Estimates and Forecasts by Connectivity, 2021-2034
12.5.2. Middle East & Africa Microgrid Market Revenue (US$ Million) Estimates and Forecasts by Offering, 2021-2034
12.5.3. Middle East & Africa Microgrid Market Revenue (US$ Million) Estimates and Forecasts by Power Source, 2021-2034
12.5.4. Middle East & Africa Microgrid Market Revenue (US$ Million) Estimates and Forecasts by Pattern, 2021-2034
12.5.5. Middle East & Africa Microgrid Market Revenue (US$ Million) Estimates and Forecasts by Type, 2021-2034
12.5.6. Middle East & Africa Microgrid Market Revenue (US$ Million) Estimates and Forecasts by Power Rating, 2021-2034
12.5.7. Middle East & Africa Microgrid Market Revenue (US$ Million) Estimates and Forecasts by End-Use, 2021-2034
12.5.8. Middle East & Africa Microgrid Market Revenue (US$ Million) Estimates and Forecasts by country, 2021-2034
Chapter 13. Competitive Landscape
13.1. Major Mergers and Acquisitions/Strategic Alliances
13.2. Company Profiles
13.2.1. ABB Group
13.2.2. Caterpillar
13.2.3. Eaton Corporation
13.2.4. Exelon Corporation
13.2.5. General Electric
13.2.6. Heila Technologies
13.2.7. Hitachi Energy
13.2.8. Homer Energy
13.2.9. Honeywell International Inc.
13.2.10. Pareto Energy
13.2.11. Power Analytics Corporation
13.2.12. S&C Electric
13.2.13. Schneider Electric
13.2.14. Siemens
13.2.15. Spirae Inc.
13.2.16. Toshiba Corporation
13.2.17. Other Prominent Players
Microgrid Market By Connectivity-
Microgrid Market By Offering
Microgrid Market By Power Source
Microgrid Market By Pattern
Microgrid Market By Type-
Microgrid Market By Power Rating
Microgrid Market By End-Use
Microgrid Market By Region-
North America-
Europe-
Asia-Pacific-
Latin America-
Middle East & Africa-