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DC Grid Connected Microgrid Market Trends

Report ID: GMI11029
Published Date: Aug 2024
Report Format: PDF

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DC Grid Connected Microgrid Market Trends

Growing demand for energy independence among businesses and communities is fostering a solution need that can enable users to generate, store, and utilize their own energy more effectively, leading to augment industry landscape. Rising new technologies such as electric vehicles (EVs) and smart buildings, which often rely on DC power, are spurring product adoption due to their compatibility with the system, facilitating easier integration and optimization within microgrids. Furthermore, DC solutions are less susceptible to issues such as voltage sags, harmonics, and frequency fluctuations, which can impact sensitive equipment and processes, act as a key driving factor for market growth.

Authors: Ankit Gupta, Pooja Shukla

Frequently Asked Questions (FAQ) :

The market size of DC grid connected microgrid was worth over USD 3.9 billion in 2023 and is anticipated to grow at a 20.9% CAGR from 2024 to 2032, due to rising demand for connectivity from renewable sources such as solar panels or batteries to reduce conversion losses and improve overall system efficiency.

The natural gas power source segment in the DC grid connected microgrid market is set to grow at over 20.3% CAGR through 2032, owing to resource abundance, ensuring a steady and secure fuel supply, which is critical for long-term power planning.

Asia Pacific DC grid connected microgrid industry is anticipated to exceed USD 12.8 billion by 2032, due to rising government investments in renewable energy and decentralized power systems to reduce reliance on fossil fuels

ABB, AEG International, ARDA Power, Eaton, Nextek Power Systems, Schneider Electric SE, SolarWorX, and Schaltbau Group among others.