According to the estimate based on end user, the remote segment of the microgrid market is likely to register second largest market share by 2027. There is a growing demand for microgrids for rural electrification driven by government support and an explosion in the deployment of microgrids in remote areas. In order to provide low-cost and clean electricity, governments around the world are increasing their investments in electricity infrastructure. As a result, there is a growing need for microgrids in remote areas to generate power, as well as to manage and control distributed energy resources.

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During the forecast period, the microgrid market in Asia Pacific is expected to grow at the highest CAGR. The market in Asia Pacific is expanding rapidly due to high rural electrification rate in several economies such as India, Malaysia, and the Philippines. Number of the islands in Indonesia, and the Philippines are not yet electrified, and the lack of adequate electricity infrastructure in emerging economies created the need for cost-effective microgrids in the region.

Americas likely to dominate the market due to increasing deployment of microgrid in commercial and industrial (C&I) segment

The Americas accounted for the largest share (~40%) of the microgrid market in 2021. The microgrid market in the Americas has been studied for North America and South America. The presence of several microgrid developers and government initiatives, such as the Smart Power Infrastructure Demonstration for Energy Reliability and Security (SPIDERS) program, to promote the adoption of microgrids has given the region prominence in the microgrid market. In 2019, the Americas held the top position in the microgrid market in terms of the development and capacity of microgrids. In North America, a large quantity of fossil-based commercial and industrial (C&I) microgrids are being established as resiliency solutions. The Americas accounted for more than half of the microgrid projects deployed worldwide in 2019. Most microgrids in the US are connected to the grid.

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