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Europe Hybrid Microgrid Market Trends

Report ID: GMI9676
Published Date: May 2024
Report Format: PDF

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Europe Hybrid Microgrid Market Trends

Growing integration of renewable energy sources such as solar, wind, and biomass into hybrid solutions to overcome Europe’s ambitious targets for reducing carbon emissions and enhancing energy sustainability is propelling the industry statistics. Rising corporate social responsibility (CSR) programs and community-led renewable energy projects coupled with increasing collaboration between private companies, local governments, and communities to develop sustainable energy solutions will enhance the product adoption.

Authors: Ankit Gupta, Pooja Shukla

Frequently Asked Questions (FAQ) :

The market size for hybrid microgrid in Europe reached USD 772.6 million in 2023 and is set to witness 16.2% CAGR through 2032, owing to the rising decentralization and grid modernization.

The grid connected segment will exceed USD 2.27 billion by 2032, backed by the rising advancements in smart grid technologies, energy storage systems and power electronics to enhance the efficiency and reliability of microgrid.

The France hybrid microgrid industry will surpass USD 576 million by 2032, due to its strong commitment to renewable energy and energy transition.

ABB, Caterpillar Inc., ENGIE, General Electric, Langley Holdings, MTU Solution, Piller Power Systems, Schneider Electric SE, S&C Electric Company, Siemens AG, Stellae Energy, and Yanmar Holdings Co., Ltd.