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Europe Grid Connected Microgrid Market Trends

Report ID: GMI9447
Published Date: May 2024
Report Format: PDF

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Europe Grid Connected Microgrid Market Trends

Rising digitization of energy systems with advanced solutions including IoT sensors, cloud computing, and artificial intelligence will transform the grid connected solutions into intelligent and data driven networks thereby expanding to wider applications, driving the business scenario. Additionally, rising financial incentives, such as government grants, subsidies, tax incentives, and feed-in tariffs, will uplift investment in microgrid infrastructure and renewable energy generation thereby improving the product penetration.

Authors: Ankit Gupta, Pooja Shukla

Frequently Asked Questions (FAQ) :

The market size of Europe grid connected microgrid was ached USD 3.8 billion in 2023 and is anticipated to witness more than 15.9% CAGR between 2024 and 2032, owing to supportive government policies and incentives.

The solar PV segment in the Europe grid connected microgrid market is set to grow at over 16.8% CAGR up to 2032, driven by the rising requirement for sources with energy security and enhanced resilience during grid outages, natural disasters, or other emergencies.

France grid connected microgrid market is projected to surpass USD 2.9 billion by 2032, backed by the rising implementation of ambitious renewable energy policies and initiatives including the Energy Transition for Green Growth Law and the Multiannual Energy Program.

ABB, Advanced Energy Industries, Emerson, FlexGen, General Electric, Hitachi Energy Ltd., Honeywell International Inc, PowerSecure, Princeton Power Systems, Siemens AG, Schweitzer Engineering Laboratories, Inc., S&C Electric Company, Schneider Electric and Tesla