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Asia Pacific AC Microgrid Market Trends

Report ID: GMI8661
Published Date: Mar 2024
Report Format: PDF

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Asia Pacific AC Microgrid Market Trends

Advancements in digitalization and smart grid technologies coupled with shift towards decentralized energy systems, emphasizing resilience and energy access will stimulate the business landscape. Rising awareness about energy security and resilience in the face of natural disasters and grid disruptions will fuel the product adoption. Rising demand in remote or underserved areas fuels innovation and investment, supported by government initiatives and policies promoting clean energy which will strengthen the product penetration.

Authors: Ankit Gupta, Pooja Shukla

Frequently Asked Questions (FAQ) :

Asia Pacific AC microgrid industry size was USD 3.2 billion in 2023 and is projected to expand at 27.2% CAGR between 2024 and 2032 owing to the widespread power outages and disruptions to the main power grid owing to the increasing frequency of extreme weather events in the region.

The grid connected segment is anticipated to generate more than USD 8 billion by 2032 due to its flexibility to integrate renewable energy sources for enabling the transition toward cleaner and sustainable energy systems.

China AC microgrid market size is estimated to surpass USD 5 billion by the end of 2032 due to its ambitious energy transition goals coupled with stringent environmental regulations in the country.

Key players operating in the Asia Pacific AC microgrid industry are Advanced Microgrid Solutions, Caterpillar Inc., Delta Electronics, Inc., Eaton Corporation, Emerson Electric Co., Enel X, General Electric Company, HOMER Energy, Kohler Power, S&C Electric Company, Schneider Electric SE, Siemens AG, Tata Power, Tencent Holdings Ltd, and Toshiba Corporation.