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Asia Pacific DC Microgrid Market Size

Report ID: GMI11473
Published Date: Sep 2024
Report Format: PDF

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Asia Pacific DC Microgrid Market Size

Asia Pacific DC Microgrid Market was valued at USD 1.9 billion in 2023 and is estimated to grow at a CAGR of 27.6% from 2024-2032. It is a localized energy system that operates on direct current power to efficiently manage and distribute electricity from renewable sources, energy storage, and DC-powered loads within a specific area. It enables seamless integration of renewable energy technologies, such as solar panels and wind turbines, and supports the direct use and storage of energy without the need for conversion to alternating current.

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Increasing investment in renewable energy sources is boosting product demand to facilitate efficient integration of these sources directly without the need for conversion to AC. Rising investments in developing modern systems to efficiently store and utilize energy from intermittent renewable sources, ensuring a stable and reliable power supply is set to influence product adoption.

Asia Pacific DC Microgrid Market Report Attributes
Report Attribute	Details
Base Year:	2023
Asia Pacific DC Microgrid Market Size in 2023:	USD 1.9 Billion
Forecast Period:	2024 - 2032
Forecast Period 2024 - 2032 CAGR:	27.6%
2032 Value Projection:	USD 18 Billion
Historical Data for:	2021 - 2023
No. of Pages:	70
Tables, Charts & Figures:	35
Segments covered:	Connectivity, Power Source, Storage Device, Application and Country
Growth Drivers:	Rising demand for reliable and resilient power supply Growing urbanization and smart city initiatives
Pitfalls & Challenges:	Grid integration challenges

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Rising adoption of cost-effective solutions that require less complex infrastructure and maintenance, especially in remote or off grid locations are augmenting product penetration. DC connectivity minimizes energy losses associated with AC-DC conversion and transmission over long distances. Moreover, this efficiency is particularly beneficial in regions with high energy demand or where energy infrastructure is underdeveloped, leading to drive business statistics.

Authors: Ankit Gupta, Pooja Shukla

Frequently Asked Questions (FAQ) :

The Asia Pacific market for DC microgrid is expected to cross over USD 18 billion by 2032 and is set to register more than 27.6% CAGR through 2032, driven by increasing adoption of grid-connected systems that offer reliable backup and energy management during outages and peak demand periods.

The grid-connected segment of the DC microgrid market is expected to reach more than USD 12.6 billion by 2032, due to its seamless integration with existing grids, cost-saving capabilities, and ability to participate in energy arbitrage by selling excess energy during peak pricing periods.

The flow battery segment is anticipated to grow at a CAGR of over 29% through 2032, driven by its rapid response capability, durability, longevity, and minimal maintenance, making it ideal for stabilizing DC microgrids during energy supply fluctuations.

China’s DC microgrid market is expected to grow by more than USD 8.5 billion by 2032, driven by rapid expansion in renewable energy sources, escalating urban energy demands, government support, and initiatives like the 14th Five-Year Plan focused on clean energy and grid technology advancements.

Leading companies in the Asia Pacific DC microgrid market include AEG International, ABB, Eaton Corporation, Enel X, Hitachi Energy, PowerSecure, Sumitomo Electric Industries, Schneider Electric, State Grid Corporation of China, SolarWorX, Schaltbau Group, and Weidmuller.