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Utility Scale Microgrid Market Trends

Report ID: GMI12704
Published Date: Dec 2024
Report Format: PDF

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Utility Scale Microgrid Market Trends

Ongoing advancements in digital technology such as Distributed Energy Resource Management Systems (DERMS), IoT, and AI to enhance microgrid functionality, and enable real-time monitoring, predictive maintenance, and energy optimization, will foster the industry landscape. Growing demand for continuous energy from the utility sector coupled with declining costs of renewable energy technologies and energy storage systems will complement the product growth.

Authors: Ankit Gupta, Pooja Shukla

Frequently Asked Questions (FAQ) :

The market size of utility scale microgrid reached USD 2.7 billion in 2024 and is set to grow at a CAGR of 18.5% from 2025 to 2034, driven by rising costs of conventional grid expansion and increasing demand for energy independence.

The grid connected segment is anticipated to grow at a CAGR of over 18.5% through 2034, supported by rising demand for power backup during outages and load-balancing connections to reduce stress on the main grid.

The U.S. market is projected to exceed USD 1.3 billion by 2034, led by increasing natural disasters causing grid disruptions and federal and state-level incentives promoting microgrid adoption.

The key players in the market include Ameresco, Bloom Energy, Caterpillar, Eaton, General Electric, PG&E, Piller Power Systems, S&C Electric Company, Stellar Energy, and Schneider Electric.