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Asia Pacific DC Microgrid Market Trends

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

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Asia Pacific DC Microgrid Market Trends

Increasing demand for DC systems from remote and rural areas where extending traditional AC grids is impractical or too costly will foster the industry landscape. Rising adoption of solutions that can align with regional and national sustainability goals by supporting the transition to clean energy sources and reducing greenhouse gas emissions are fostering the product growth. Furthermore, their seamless integration with smart grid technologies, including advanced metering, demand response, and energy management systems will enhance the overall functionality and efficiency of the energy system, stimulating the business growth.

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.