Report Calls HOMER Energy ‘Key Player’ in Microgrid Growth
Around the globe, governments are increasingly concentrating on RE resource-based microgrids. The microgrid market is expected to be a multi-billion-dollar market and to grow at a significant rate during the forecast period, through 2020, according to a recent Future Market Insights report. At present, the market is led by North America owing to growing industrialization and electrification. However, it is expected to witness a huge potential in emerging economies of Asia-Pacific regions, such as India, China, and Australia. Among the key players named in the report are Lockheed Martin, GE Digital Energy, Chevron Energy, Toshiba Corporation, HOMER Energy, Honeywell International, and Siemens.
Analyses: ABB, NKG, ABG Top Microgrid Storage Players for 2017
The “Worldwide Energy Storage Battery for Microgrids Market 2017 Industry Research Report” research report includes present conditions and projections for policies and plans in battery storage for the coming year. Interesting fact: per the report, top 5 manufacturers in 2017 are: NGK Group; ABB; AEG; Imergy; and Tesla SolarCity, a company we wrote a 2017 outlook blog post about several weeks ago. HOMER Energy partner Saft ranked in the top 10 as well. The report is an in-depth analysis of global microgrid energy storage. This report studied this market from 2011-2015, especially in North America, China, Europe, Southeast Asia, Japan, and India, with production, revenue, consumption, import and export in these regions, from 2011 to 2015. (See another new storage report for detailed analysis of major global markets by type, manufacturer, and country — with forecasts for 2021.)
The 3 Microgrid Models, and a Call for Detailed Standards
Three Reports, Three Projections — and What’s Driving the Market?
Absolute Reports’ Global Microgrid Market forecast to 2021 estimates the global microgrid market will reach USD 34.94 Billion by that year, at a CAGR of 10.9%. Another report, from Research & Markets, predicts a microgrid industry compound annual growth rate (CAGR) of 12% by 2022. The Research & Markets study states a variety of factors driving the microgrid market, including falling prices for renewable energy, growth in the energy storage segment, military microgrid initiatives, and climate change, among others. And the “Microgrid Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecasts ” report from Transparency Market Research predicts a global microgrid market of $35 billion by 2025 with an aggressive 20.7% CAGR.