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Europe Microgrid Market Forecast 2019-2027

The European market for microgrids is projected to propagate at a CAGR of 11.55% during the forecasting period of 2019-2027. The primary application of the microgrid market is in the government & education sector, industrial, military, utility residential & commercial, etc. of the region.

Microgrid market of Europe is mainly driven by increasing government initiatives for sustainable development, increasing renewable power plants, industry 4.0 initiative in the European region. Other factors like the higher demands for electricity, investments by the developed countries in clean energy being on a rapid up-surge & increasing demand for clean energy storage systems are specifically driving the growth of the Europe microgrids market. The increasing demand for power is increasing the capacity addition of renewable energy which in turn, results in increased deployment of the microgrids across the region.
The economies of the United Kingdom, France, Italy, Russia, Spain, Germany and the remaining countries constituting the Rest of Europe regional segment are the major contributors to the market growth in Europe. Germany contributed xx% of market share in 2018 & is estimated to contribute the majority of share to remain at xx% in 2027 as compared to that of 2018.

Some of the major market players in the European region are Hitachi Ltd., Duke Energy Corporation, Schneider Electric, Fuelcell Energy Inc., General Electric, Siemens AG, NRG Energy Inc., Princeton Power Systems, S&C Electric Company, Eaton Corporation PLC, Power Engineers Incorporated, National Grid, Exelon Corporation, ABB Ltd. and Fairbanks Morse

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Europe Microgrid Market Forecast 2019-2027
Published By :Inkwood Research
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