Microgrid Market Size, Share & Trends Analysis Report By Connectivity (Grid-Connected And Off-Grid Connected), Offering (Hardware (Power Generators, Energy Storage Systems, Controllers), Software, And Services.), Pattern, Power Source, Types, Power Rating, And End-Use, By Region, And Segment Forecasts, 2025-2034

Report Id: 1643 Pages: 180 Last Updated: 16 April 2025 Format: PDF / PPT / Excel / Power BI
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Segmentation of Microgrid Market-

Microgrid Market By Connectivity-

  • Grid Connected
  • Off-grid Connected

Microgrid Market By Offering

  • Hardware
    • Power Generators
    • Energy Storage Systems
      • Lithium-ion batteries
      • Flow batteries
      • Flywheels
      • Others
    • Controllers
  • Software
  • Services

microgrid

Microgrid Market By Power Source

  • Natural Gas
  • Solar P.V.
  • Combined Heat and Power
  • Diesel
  • Fuel Cell
  • Others

Microgrid Market By Pattern

  • Urban/Metropolitan
  • Semiurban
  • Rural/island

Microgrid Market By Type-

  • C. Microgrids
  • DC Microgrids
  • Hybrid Microgrids

Microgrid Market By Power Rating

  • Less than 1 M.W.
  • 1MW to 5MW
  • 5MW to 10MW
  • More than 10MW

Microgrid Market By End-Use

  • Commercial & Industrial
  • Remote Areas
  • Military
  • Government
  • Utilities
  • Institutes & Companies
  • Healthcare

Microgrid Market By Region-

North America-

  • The US
  • Canada

Europe-

  • Germany
  • The UK
  • France
  • Italy
  • Spain
  • Rest of Europe

Asia-Pacific-

  • China
  • Japan
  • India
  • South Korea
  • South East Asia
  • Rest of Asia Pacific

Latin America-

  • Brazil
  • Mexico
  • Argentina
  • Rest of Latin America

 Middle East & Africa-

  • GCC Countries
  • South Africa
  • Rest of the Middle East and 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

Research Design and Approach

This study employed a multi-step, mixed-method research approach that integrates:

  • Secondary research
  • Primary research
  • Data triangulation
  • Hybrid top-down and bottom-up modelling
  • Forecasting and scenario analysis

This approach ensures a balanced and validated understanding of both macro- and micro-level market factors influencing the market.

Secondary Research

Secondary research for this study involved the collection, review, and analysis of publicly available and paid data sources to build the initial fact base, understand historical market behaviour, identify data gaps, and refine the hypotheses for primary research.

Sources Consulted

Secondary data for the market study was gathered from multiple credible sources, including:

  • Government databases, regulatory bodies, and public institutions
  • International organizations (WHO, OECD, IMF, World Bank, etc.)
  • Commercial and paid databases
  • Industry associations, trade publications, and technical journals
  • Company annual reports, investor presentations, press releases, and SEC filings
  • Academic research papers, patents, and scientific literature
  • Previous market research publications and syndicated reports

These sources were used to compile historical data, market volumes/prices, industry trends, technological developments, and competitive insights.

Secondary Research

Primary Research

Primary research was conducted to validate secondary data, understand real-time market dynamics, capture price points and adoption trends, and verify the assumptions used in the market modelling.

Stakeholders Interviewed

Primary interviews for this study involved:

  • Manufacturers and suppliers in the market value chain
  • Distributors, channel partners, and integrators
  • End-users / customers (e.g., hospitals, labs, enterprises, consumers, etc., depending on the market)
  • Industry experts, technology specialists, consultants, and regulatory professionals
  • Senior executives (CEOs, CTOs, VPs, Directors) and product managers

Interview Process

Interviews were conducted via:

  • Structured and semi-structured questionnaires
  • Telephonic and video interactions
  • Email correspondences
  • Expert consultation sessions

Primary insights were incorporated into demand modelling, pricing analysis, technology evaluation, and market share estimation.

Data Processing, Normalization, and Validation

All collected data were processed and normalized to ensure consistency and comparability across regions and time frames.

The data validation process included:

  • Standardization of units (currency conversions, volume units, inflation adjustments)
  • Cross-verification of data points across multiple secondary sources
  • Normalization of inconsistent datasets
  • Identification and resolution of data gaps
  • Outlier detection and removal through algorithmic and manual checks
  • Plausibility and coherence checks across segments and geographies

This ensured that the dataset used for modelling was clean, robust, and reliable.

Market Size Estimation and Data Triangulation

Bottom-Up Approach

The bottom-up approach involved aggregating segment-level data, such as:

  • Company revenues
  • Product-level sales
  • Installed base/usage volumes
  • Adoption and penetration rates
  • Pricing analysis

This method was primarily used when detailed micro-level market data were available.

Bottom Up Approach

Top-Down Approach

The top-down approach used macro-level indicators:

  • Parent market benchmarks
  • Global/regional industry trends
  • Economic indicators (GDP, demographics, spending patterns)
  • Penetration and usage ratios

This approach was used for segments where granular data were limited or inconsistent.

Hybrid Triangulation Approach

To ensure accuracy, a triangulated hybrid model was used. This included:

  • Reconciling top-down and bottom-up estimates
  • Cross-checking revenues, volumes, and pricing assumptions
  • Incorporating expert insights to validate segment splits and adoption rates

This multi-angle validation yielded the final market size.

Forecasting Framework and Scenario Modelling

Market forecasts were developed using a combination of time-series modelling, adoption curve analysis, and driver-based forecasting tools.

Forecasting Methods

  • Time-series modelling
  • S-curve and diffusion models (for emerging technologies)
  • Driver-based forecasting (GDP, disposable income, adoption rates, regulatory changes)
  • Price elasticity models
  • Market maturity and lifecycle-based projections

Scenario Analysis

Given inherent uncertainties, three scenarios were constructed:

  • Base-Case Scenario: Expected trajectory under current conditions
  • Optimistic Scenario: High adoption, favourable regulation, strong economic tailwinds
  • Conservative Scenario: Slow adoption, regulatory delays, economic constraints

Sensitivity testing was conducted on key variables, including pricing, demand elasticity, and regional adoption.

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Frequently Asked Questions

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

Global Microgrid Market expected to grow at a 16.8% CAGR during the forecast period for 2025-2034

Schneider Electric (U.S.), Eaton Corporation (U.S.), Honeywell International Inc. (U.S.), Homer Energy (U.S.), S&C Electric (U.S.), and Power Analytic

Connectivity, Offering, Power Source, Types, Power Rating, and End-Use are the key segments of the Microgrid Market.

North America region is leading the Microgrid Market.

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