The Asia-Pacific microgrid market is estimated to register a CAGR of 11.32% during the forecasting period of 2022 to 2030, acquiring a revenue share of $25483.01 million by 2030.

ASIA-PACIFIC MICROGRID MARKET FORECAST 2022-2030

Asia-Pacific Microgrid Market by Type (Grid Connected, Off-grid) Market by Offering (Hardware, Software, Services) Market by Consumption Pattern (Semi-urban, Urban/Metropolitan, Rural/Island) Market by End-user (Commercial & Industrial, Healthcare, Education, Military, Government & Utilities, Other End-users) By Geography

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The Asia-Pacific microgrid market is estimated to register a CAGR of 11.32% during the forecasting period of 2022 to 2030, acquiring a revenue share of $25483.01 million by 2030.

Key factors such as low electrification rates, the shortage of a reliable utility grid infrastructure, as well as extreme weather events like typhoons and hurricanes are primarily attributable to the market growth of the region. However, high microgrid installation capital expenses and challenges in acquiring skilled labor in remote regions are likely to hinder the Asia-Pacific microgrid market growth.

Asia-Pacific Microgrid Market

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The Asia-Pacific microgrid market growth evaluation covers the assessment of India, Indonesia, South Korea, China, Vietnam, Thailand, Japan, Australia & New Zealand, and Rest of Asia-Pacific. The electrical industry in China is the largest contributor to CO2 emissions globally, as well as in the country. The emissions from China’s electric power industry are anticipated to rise further, mainly on account of the nation’s proliferating demand for electricity. Furthermore, microgrids and distributed generation are gaining popularity as the nation continues to undergo rapid urbanization and industrialization. Although the country is establishing significant efforts in advancing distributed generation and microgrid development over the last decade, microgrids are still in their nascency in China.

On the other hand, owing to the rise in natural catastrophes that hit Japan, a regional movement towards the development of a society with decentralized energy has emerged in the nation. Moreover, power outages are spread across Northeast Japan due to the Great East Japan Earthquake of 2011. This factor highlights the shortcomings of an electric power system that solely depends on large-scale power networks. Conversely, Japan has also set a goal of becoming a Net Zero Energy City by the year 2022. As a result, these factors are anticipated to propel the demand for microgrids in the Asia-Pacific, consequently fueling the region’s market growth during the estimated years.

The Asia-Pacific microgrid market is segmented into consumption pattern, offering, type, and end-user. The consumption pattern segment includes rural/island, semi-urban, and urban/metropolitan. Power distribution companies (DISCOMS) work with semi-urban microgrids outfitted with rooftop solar (PV) as well as battery energy storage systems in order to address the increasing demand for electricity in cities. As a more practical and swifter alternative to constructing new infrastructure, they can also help improve transmission and distribution networks, while increasing generation capacity.

In addition, the distributed energy system, termed an urban microgrid, can be linked to a greater energy grid or even operated separately in island mode. Moreover, it can also function independently, being managed by a private firm or as a critical part of a larger utility. The consumer base of the microgrid is determined by its business model. Also, microgrids can be utilized for the collection and storage of electricity produced by electric vehicles as well as structures. For instance, a microgrid was recently displayed by GM subsidiary OnStar Corp, in which a four Chevrolet Volts fleet helped control the energy flow from solar charging canopies with integrated storage.

Some of the prominent firms operating in the Asia-Pacific microgrid market include Hitachi Ltd, CleanGrid Partners Pte Ltd, etc.

Hitachi Ltd, headquartered in Japan, is a global provider of information and telecommunication systems, electronic systems and equipment, and social infrastructure and industrial systems. Moreover, the company also offers high functional materials and components, smart life and eco-friendly systems, automotive systems, and construction machinery.

Report Synopsis

Report ScopeDetails
Market Forecast Years2022-2030
Base Year2021
Market Historical Years2018-2021
Forecast UnitsRevenue ($ Million)
Segments AnalyzedConsumption Pattern, Offering, Type, End-User
Countries AnalyzedChina, India, Indonesia, South Korea, Thailand, Japan, Australia & New Zealand, Vietnam, and Rest of Asia-Pacific.
Companies Analyzed

Bloom Energy, Cummins Inc, Duke Energy Corporation, Eaton Corporation Plc, Exelon Corporation, General Electric Company, Hitachi Ltd, National Grid Plc, Power Engineers Incorporated, S&C Electric, Siemens AG, Fuelcell Energy Inc, Schneider Electric SE, Fairbanks Morse, NRG Energy Inc

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    1. RESEARCH SCOPE & METHODOLOGY
      • STUDY OBJECTIVES
      • SCOPE OF STUDY
      • METHODOLOGY
      • ASSUMPTIONS & LIMITATIONS
    2. EXECUTIVE SUMMARY
      • MARKET SIZE & ESTIMATES
      • MARKET OVERVIEW
    3. MARKET DYNAMICS
      • KEY DRIVERS
        • INCREASING CONSUMPTION OF ELECTRICITY
        • RISE IN CLEAN ENERGY INTEGRATION
        • MITIGATION OF SEVERE WEATHER USING MICROGRIDS
      • KEY RESTRAINTS
        • EXPENSIVE MAINTENANCE & INSTALLATION OF MICROGRIDS
        • REGULATORY FRAMEWORK HURDLES FOR MICROGRIDS
    1. KEY ANALYTICS
      • IMPACT OF COVID-19 ON MICROGRID MARKET
      • KEY MARKET TRENDS
      • PORTER’S FIVE FORCES ANALYSIS
        • BUYERS POWER
        • SUPPLIERS POWER
        • SUBSTITUTION
        • NEW ENTRANTS
        • INDUSTRY RIVALRY
      • OPPORTUNITY MATRIX
      • VENDOR LANDSCAPE
      • VALUE CHAIN ANALYSIS
      • KEY BUYING CRITERIA
        • COST EFFICIENCY
        • PRODUCT FEATURES
        • END-USE
      • REGULATORY FRAMEWORK
    2. MARKET BY TYPE
      • GRID CONNECTED
      • OFF-GRID
    3. MARKET BY OFFERING
      • HARDWARE
        • POWER GENERATORS
        • CONTROLLERS
        • ENERGY STORAGE
      • SOFTWARE
      • SERVICES
    4. MARKET BY CONSUMPTION PATTERN
      • SEMI-URBAN
      • URBAN/METROPOLITAN
      • RURAL/ISLAND
    5. MARKET BY END-USER
      • COMMERCIAL & INDUSTRIAL
      • HEALTHCARE
      • EDUCATION
      • MILITARY
      • GOVERNMENT & UTILITIES
      • OTHER END-USERS
    6. GEOGRAPHICAL ANALYSIS
      • ASIA-PACIFIC
        • MARKET ESTIMATES & SIZES
        • KEY GROWTH ENABLERS
        • KEY CHALLENGES
        • KEY PLAYERS
        • COUNTRY ANALYSIS
          • CHINA
          • JAPAN
          • INDIA
          • SOUTH KOREA
          • INDONESIA
          • THAILAND
          • VIETNAM
          • AUSTRALIA & NEW ZEALAND
          • REST OF ASIA-PACIFIC
    1. COMPETITIVE LANDSCAPE
      • KEY STRATEGIC DEVELOPMENTS
        • MERGERS & ACQUISITIONS
        • PRODUCT LAUNCHES & DEVELOPMENTS
        • PARTNERSHIPS & AGREEMENTS
        • BUSINESS EXPANSIONS & DIVESTITURES
      • COMPANY PROFILES
        • BLOOM ENERGY
        • CUMMINS INC
        • DUKE ENERGY CORPORATION
        • EATON CORPORATION PLC
        • EXELON CORPORATION
        • FAIRBANKS MORSE
        • FUELCELL ENERGY INC
        • GENERAL ELECTRIC COMPANY
        • HITACHI LTD
        • NATIONAL GRID PLC
        • NRG ENERGY INC
        • POWER ENGINEERS INCORPORATED
        • S&C ELECTRIC
        • SCHNEIDER ELECTRIC SE
        • SIEMENS AG

    LIST OF TABLES

    TABLE 1: ASIA-PACIFIC MARKET SNAPSHOT – MICROGRID

    TABLE 2: REGULATORY FRAMEWORK

    TABLE 3: ASIA-PACIFIC MICROGRID MARKET, BY TYPE, HISTORICAL YEARS, 2018-2021 (IN $ MILLION)

    TABLE 4: ASIA-PACIFIC MICROGRID MARKET, BY TYPE, FORECAST YEARS, 2022-2030 (IN $ MILLION)

    TABLE 5: ASIA-PACIFIC MICROGRID MARKET, BY OFFERING, HISTORICAL YEARS, 2018-2021 (IN $ MILLION)

    TABLE 6: ASIA-PACIFIC MICROGRID MARKET, BY OFFERING, FORECAST YEARS, 2022-2030 (IN $ MILLION)

    TABLE 7: ASIA-PACIFIC MICROGRID MARKET, BY HARDWARE, HISTORICAL YEARS, 2018-2021 (IN $ MILLION)

    TABLE 8: ASIA-PACIFIC MICROGRID MARKET, BY HARDWARE, FORECAST YEARS, 2022-2030 (IN $ MILLION)

    TABLE 9: ASIA-PACIFIC MICROGRID MARKET, BY CONSUMPTION PATTERN, HISTORICAL YEARS, 2018-2021 (IN $ MILLION)

    TABLE 10: ASIA-PACIFIC MICROGRID MARKET, BY CONSUMPTION PATTERN, FORECAST YEARS, 2022-2030 (IN $ MILLION)

    TABLE 11: ASIA-PACIFIC MICROGRID MARKET, BY END-USER, HISTORICAL YEARS, 2018-2021 (IN $ MILLION)

    TABLE 12: ASIA-PACIFIC MICROGRID MARKET, BY END-USER, FORECAST YEARS, 2022-2030 (IN $ MILLION)

    TABLE 13: ASIA-PACIFIC MICROGRID MARKET, BY COUNTRY, HISTORICAL YEARS, 2018-2021 (IN $ MILLION)

    TABLE 14: ASIA-PACIFIC MICROGRID MARKET, BY COUNTRY, FORECAST YEARS, 2022-2030 (IN $ MILLION)

    TABLE 15: LEADING PLAYERS OPERATING IN ASIA-PACIFIC MICROGRID MARKET

    TABLE 16: LIST OF MERGERS & ACQUISITIONS

    TABLE 17: LIST OF PRODUCT LAUNCHES & DEVELOPMENTS

    TABLE 18: LIST OF PARTNERSHIPS & AGREEMENTS

    TABLE 19: LIST OF BUSINESS EXPANSIONS & DIVESTITURES          

    LIST OF FIGURES

    FIGURE 1: KEY MARKET TRENDS

    FIGURE 2: RENEWABLE ELECTRICITY GENERATION, BY SOURCE, 2018-2020

    FIGURE 3: PORTER’S FIVE FORCES ANALYSIS

    FIGURE 4: OPPORTUNITY MATRIX

    FIGURE 5: VENDOR LANDSCAPE

    FIGURE 6: VALUE CHAIN ANALYSIS

    FIGURE 7: KEY BUYING CRITERIA

    FIGURE 8: ASIA-PACIFIC MICROGRID MARKET, GROWTH POTENTIAL, BY TYPE, IN 2021

    FIGURE 9: ASIA-PACIFIC MICROGRID MARKET, BY GRID CONNECTED, 2022-2030 (IN $ MILLION)

    FIGURE 10: ASIA-PACIFIC MICROGRID MARKET, BY OFF-GRID, 2022-2030 (IN $ MILLION)

    FIGURE 11: ASIA-PACIFIC MICROGRID MARKET, GROWTH POTENTIAL, BY OFFERING, IN 2021

    FIGURE 12: ASIA-PACIFIC MICROGRID MARKET, BY HARDWARE, 2022-2030 (IN $ MILLION)

    FIGURE 13: ASIA-PACIFIC MICROGRID MARKET, GROWTH POTENTIAL, BY HARDWARE, IN 2021

    FIGURE 14: ASIA-PACIFIC MICROGRID MARKET, BY POWER GENERATORS, 2022-2030 (IN $ MILLION)

    FIGURE 15: ASIA-PACIFIC MICROGRID MARKET, BY CONTROLLERS, 2022-2030 (IN $ MILLION)

    FIGURE 16: ASIA-PACIFIC MICROGRID MARKET, BY ENERGY STORAGE, 2022-2030 (IN $ MILLION)

    FIGURE 17: ASIA-PACIFIC MICROGRID MARKET, BY SOFTWARE, 2022-2030 (IN $ MILLION)

    FIGURE 18: ASIA-PACIFIC MICROGRID MARKET, BY SERVICES, 2022-2030 (IN $ MILLION)

    FIGURE 19: ASIA-PACIFIC MICROGRID MARKET, GROWTH POTENTIAL, BY CONSUMPTION PATTERN, IN 2021

    FIGURE 20: ASIA-PACIFIC MICROGRID MARKET, BY SEMI-URBAN, 2022-2030 (IN $ MILLION)

    FIGURE 21: ASIA-PACIFIC MICROGRID MARKET, BY URBAN/METROPOLITAN, 2022-2030 (IN $ MILLION)

    FIGURE 22: ASIA-PACIFIC MICROGRID MARKET, BY RURAL/ISLAND, 2022-2030 (IN $ MILLION)

    FIGURE 23: ASIA-PACIFIC MICROGRID MARKET, GROWTH POTENTIAL, BY END-USER, IN 2021

    FIGURE 24: ASIA-PACIFIC MICROGRID MARKET, BY COMMERCIAL & INDUSTRIAL, 2022-2030 (IN $ MILLION)

    FIGURE 25: ASIA-PACIFIC MICROGRID MARKET, BY HEALTHCARE, 2022-2030 (IN $ MILLION)

    FIGURE 26: ASIA-PACIFIC MICROGRID MARKET, BY EDUCATION, 2022-2030 (IN $ MILLION)

    FIGURE 27: ASIA-PACIFIC MICROGRID MARKET, BY MILITARY, 2022-2030 (IN $ MILLION)

    FIGURE 28: ASIA-PACIFIC MICROGRID MARKET, BY GOVERNMENT & UTILITIES, 2022-2030 (IN $ MILLION)

    FIGURE 29: ASIA-PACIFIC MICROGRID MARKET, BY OTHER END-USERS, 2022-2030 (IN $ MILLION)

    FIGURE 30: ASIA-PACIFIC MICROGRID MARKET, COUNTRY OUTLOOK, 2021 & 2030 (IN%)

    FIGURE 31: CHINA MICROGRID MARKET, 2022-2030 (IN $ MILLION)

    FIGURE 32: JAPAN MICROGRID MARKET, 2022-2030 (IN $ MILLION)

    FIGURE 33: INDIA MICROGRID MARKET, 2022-2030 (IN $ MILLION)

    FIGURE 34: SOUTH KOREA MICROGRID MARKET, 2022-2030 (IN $ MILLION)

    FIGURE 35: INDONESIA MICROGRID MARKET, 2022-2030 (IN $ MILLION)

    FIGURE 36: THAILAND MICROGRID MARKET, 2022-2030 (IN $ MILLION)

    FIGURE 37: VIETNAM MICROGRID MARKET, 2022-2030 (IN $ MILLION)

    FIGURE 38: AUSTRALIA & NEW ZEALAND MICROGRID MARKET, 2022-2030 (IN $ MILLION)

    FIGURE 39: REST OF ASIA-PACIFIC MICROGRID MARKET, 2022-2030 (IN $ MILLION)       

    1. GEOGRAPHICAL ANALYSIS
      • ASIA-PACIFIC
        • MARKET ESTIMATES & SIZES
        • KEY GROWTH ENABLERS
        • KEY CHALLENGES
        • KEY PLAYERS
        • COUNTRY ANALYSIS
          • CHINA
          • JAPAN
          • INDIA
          • SOUTH KOREA
          • INDONESIA
          • THAILAND
          • VIETNAM
          • AUSTRALIA & NEW ZEALAND
          • REST OF ASIA-PACIFIC
    1. MARKET BY TYPE
      • GRID CONNECTED
      • OFF-GRID
    2. MARKET BY OFFERING
      • HARDWARE
        • POWER GENERATORS
        • CONTROLLERS
        • ENERGY STORAGE
      • SOFTWARE
      • SERVICES
    3. MARKET BY CONSUMPTION PATTERN
      • SEMI-URBAN
      • URBAN/METROPOLITAN
      • RURAL/ISLAND
    4. MARKET BY END-USER
      • COMMERCIAL & INDUSTRIAL
      • HEALTHCARE
      • EDUCATION
      • MILITARY
      • GOVERNMENT & UTILITIES
      • OTHER END-USERS

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