Global Microgrid Market Expected to Reach USD 79.6 Billion by 2033 - IMARC Group

January 07, 2025 | Energy & Mining

VIEW FULL TABLE OF CONTENTS

Global Microgrid Market Statistics, Outlook and Regional Analysis 2025-2033

The global microgrid market size was valued at USD 35.2 Billion in 2024, and it is expected to reach USD 79.6 Billion by 2033, exhibiting a growth rate (CAGR) of 8.75% from 2025 to 2033.

Microgrid Market

To get more information on this market, Request Sample

The increased usage of advanced energy management technology and renewable energy sources is substantially impacting the microgrid industry. Organizations are investigating decentralized energy systems as a result of growing concerns about energy sustainability and reliability. Microgrids are gaining popularity in data centers, isolated villages, industrial complexes, etc., because they provide localized power generation, storage, and distribution. Apart from that, the microgrid landscape is also changing due to the rising developments in battery energy storage systems and the incorporation of artificial intelligence into energy management. Supporting this trend, Schneider Electric disclosed an innovative BESS in April 2024, offering flexible and scalable energy solutions. This system meets strict international safety standards while integrating seamlessly with microgrids to improve energy reliability, lower costs, and promote sustainability. Moreover, investments in renewable energy sources, such as wind and solar technology, are increasing due to the push for carbon neutrality and net-zero ambitions. Aligned with this trend, Hover Energy and Alternus Clean Energy launched a joint venture in August 2024 with the goal of providing advanced microgrid solutions to commercial and data center customers. This collaboration demonstrates a strong commitment to sustainable energy practices and supports the net-zero carbon target by combining wind and solar technologies to develop approximately 60 MW of projects.

Concurrent with this, these systems are becoming sustainable and energy-efficient with the integration of AI and IoT. Such systems enable real-time energy monitoring, predictive maintenance, and improved grid resilience. For example, Tencent's Tianjin data center in China installed a solar-powered microgrid in January 2024. Approximately 6,000 households are powered by the 12 million kWh produced yearly by this technology. Tencent's project sets a benchmark for sustainable and energy-efficient microgrid solutions in the data center industry by integrating AI-driven energy management, which is consistent with its larger carbon neutrality objectives. Collectively, these developments underscore the transformative potential of microgrids in addressing the world's energy problems and promoting environmental responsibility.

Global Microgrid Market Statistics, By Region

The market research report has also provided a comprehensive analysis of all the major regional markets, which include North America, Asia Pacific, Europe, Middle East and Africa, and Latin America. According to the report, North America is accountable for the majority of the total market share due to factors such as encouraging governmental regulations, advanced infrastructure, and growing adoption of renewable energy technologies, etc.

North America Microgrid Market Trends:

North America is the leading region in the market, driven by the emphasis on improving energy sustainability, which has led to large expenditures in microgrid solutions for the commercial, residential, and industrial sectors. For instance, BHE Renewables announced in September 2024 to convert more than 2,000 acres in West Virginia into an industrial estate fueled by microgrids. The project, featuring a titanium melt facility by Precision Castparts Corp. running entirely on renewable energy, underscores the region's commitment to sustainable industrial development.

Europe Microgrid Market Trends:

The European microgrid market is driven by the shift to renewable energy and decarbonization policies. Countries like Germany focus on integrating solar and wind resources into local grids. The Clean Energy Package boosts community microgrids, enabling decentralized power generation. For example, the Hart van Brabant project in the Netherlands supports energy-sharing among homes, enhancing grid reliability and reducing emissions in line with EU sustainability goals.

Asia Pacific Microgrid Market Trends:

Asia Pacific sees rapid microgrid growth due to energy access needs in remote regions and urbanization. India leads with projects such as the Chhattisgarh microgrid initiative, providing power to villages lacking grid connectivity. Renewable energy, especially solar, dominates developments. The region’s energy security strategies, combined with investments in microgrid technology, position nations like Japan as key players in enhancing disaster-resilient power systems.

Latin America Microgrid Market Trends:

In Latin America, the market highlighted microgrids for rural electrification and resilience against natural disasters. Brazil’s adoption of solar-powered microgrids in the Amazon exemplifies this trend, improving access in isolated areas. Government programs and international investments, such as partnerships with the World Bank, foster development. Renewable energy potential, particularly wind and hydro, complements efforts, bolstering sustainable energy access across diverse geographical landscapes.

Middle East and Africa Microgrid Market Trends:

The Middle East and Africa prioritize microgrids to address energy deficits and support economic development. South Africa’s renewable microgrid at Robben Island showcases the shift toward solar and battery systems. Rising demand for energy access, coupled with regional initiatives like the African Union’s energy goals, propels the market. Oil-exporting nations also diversify investments into microgrids to align with global energy transition trends.

Top Companies Leading in the Microgrid Industry

Some of the leading microgrid market companies include Lockheed Martin Corporation, ABB Ltd, General Electric Company (GE), Eaton Corporation PLC, Siemens AG., among many others. For example, in April 2024, Eaton partnered with Enel North America to establish Puerto Rico's largest clean energy microgrid at its Arecibo facility for circuit breaker manufacturing. The system includes a 5 MW solar array, a 1.1 MW battery storage unit, and existing onsite generators, allowing the facility to generate and store renewable energy autonomously.

Global Microgrid Market Segmentation Coverage

On the basis of the energy source, the market has been bifurcated into natural gas, combined heat and power, solar photovoltaic (PV), diesel, fuel cell, and others, wherein combined heat and power represents the most preferred segment. Combined heat and power (CHP) is a dynamic solution that simultaneously produces electricity and utilizes the waste heat generated during electricity generation.
Based on the application, the market is categorized into remote systems, institution and campus, utility/community, defence, and others, amongst which remote systems dominate the market. Remote systems are designed to provide electricity to areas geographically isolated or where access to the central power grid is impractical or cost-prohibitive.

Report Features	Details
Market Size in 2024	USD 35.2 Billion
Market Forecast in 2033	USD 79.6 Billion
Market Growth Rate 2025-2033	8.75%
Units	Billion USD
Scope of the Report	Exploration of Historical Trends and Market Outlook, Industry Catalysts and Challenges, Segment-Wise Historical and Predictive Market Assessment: Energy Source Application Region
Energy Sources Covered	Natural Gas, Combined Heat and Power, Solar Photovoltaic (PV), Diesel, Fuel Cell, Others
Applications Covered	Remote Systems, Institution and Campus, Utility/Community, Defence, Others
Regions Covered	Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Companies Covered	Lockheed Martin Corporation, ABB Ltd, General Electric Company (GE), Eaton Corporation PLC, Siemens AG, etc.
Customization Scope	10% Free Customization
Post-Sale Analyst Support	10-12 Weeks
Delivery Format	PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

Browse IMARC Related Reports on Microgrid Market:

Need more help?

Speak to our experienced analysts for insights on the current market scenarios.
Include additional segments and countries to customize the report as per your requirement.
Gain an unparalleled competitive advantage in your domain by understanding how to utilize the report and positively impacting your operations and revenue.
For further assistance, please connect with our analysts.

Global Microgrid Market Expected to Reach USD 79.6 Billion by 2033 - IMARC Group

Purchase Options New Year Sale

Inquire Before Buying

Benefits of Customization

Personalize this research
Triangulate with your data
Get data as per your format and definition
Gain a deeper dive into a specific application, geography, customer, or competitor
Any level of personalization

Speak to an Analyst

Request Brochure

Get in Touch With Us

UNITED STATES

Phone: +1-631-791-1145

INDIA

Phone: +91-120-433-0800

UNITED KINGDOM

Phone: +44-753-714-6104

Email: sales@imarcgroup.com

Client Testimonials

IMARC made the whole process easy. Everyone I spoke with via email was polite, easy to deal with, kept their promises regarding delivery timelines and were solutions focused. From my first contact, I was grateful for the professionalism shown by the whole IMARC team. I recommend IMARC to all that need timely, affordable information and advice. My experience with IMARC was excellent and I can not fault it.

The IMARC team was very reactive and flexible with regard to our requests. A very good overall experience. We are happy with the work that IMARC has provided, very complete and detailed. It has contributed to our business needs and provided the market visibility that we required

We were very happy with the collaboration between IMARC and Colruyt. Not only were your prices competitive, IMARC was also pretty fast in understanding the scope and our needs for this project. Even though it was not an easy task, performing a market research during the COVID-19 pandemic, you were able to get us the necessary information we needed. The IMARC team was very easy to work with and they showed us that it would go the extra mile if we needed anything extra

Last project executed by your team was as per our expectations. We also would like to associate for more assignments this year. Kudos to your team.

We would be happy to reach out to IMARC again, if we need Market Research/Consulting/Consumer Research or any associated service. Overall experience was good, and the data points were quite helpful.

Arabian Plastic Manufacturing Company Ltd.

The figures of market study were very close to our assumed figures. The presentation of the study was neat and easy to analyse. The requested details of the study were fulfilled. My overall experience with the IMARC Team was satisfactory.

The overall cost of the services were within our expectations. I was happy to have good communications in a timely manner. It was a great and quick way to have the information I needed.

My questions and concerns were answered in a satisfied way. The costs of the services were within our expectations. My overall experience with the IMARC Team was very good.

I agree the report was timely delivered, meeting the key objectives of the engagement. We had some discussion on the contents, adjustments were made fast and accurate. The response time was minimum in each case. Very good. You have a satisfied customer.

We would be happy to reach out to IMARC for more market reports in the future. The response from the account sales manager was very good. I appreciate the timely follow ups and post purchase support from the team. My overall experience with IMARC was good.

IMARC was a good solution for the data points that we really needed and couldn't find elsewhere. The team was easy to work, quick to respond, and flexible to our customization requests.

IMARC did an outstanding job in preparing our study. They were punctual and precise, delivering all the data we required in a clear and well-organized format. Their attention to detail and ability to meet deadlines was impressive, making them a reliable partner for our project.

I wanted to express my sincere appreciation for your efforts in handling this matter. Your dedication and commitment have truly been commendable. It is evident that you have put in a tremendous amount of hard work and expertise into resolving the issues at hand. I would also like to take this opportunity to inform you that we are greatly interested

Overall, the deliverable was well organized and my experience with the project team was good. In particular, I appreciated how they responded when I requested additional information and the Japanese version.

The IMARC team were extremely professional and very cooperative. The team were also extremely flexible in making changes and modifications wherever required. The entire experience right from project kick-off to after sales support was fruitful and smooth.

I’d like to express my gratitude for the work you accomplished with the industry report. The way you responded to the requirements and delivered under tight timelines shows your expertise, exceptional work ethic and commitment to your customer’s success. The entire team and company are incredibly thankful for your dedication. Once again, thank you

The market reports from IMARC have been instrumental in guiding our business strategies. We found the reports comprehensive and data-driven, which helped us make informed decisions. The detailed insights and actionable data have consistently provided us with a competitive edge in a rapidly changing alcohol market.

One of the best things about IMARC is their flexibility and predisposition to tailor the reports and adapt to our needs. They are not just great in their researching and consulting solutions, but their service is unparallelled. We’ve worked with them a couple of times and we will keep working with them in future projects.

We recently commissioned multiple market research reports from IMARC, and the insights we received were invaluable. The depth of analysis, accuracy of data, and actionable recommendations have greatly enhanced our strategic decision-making.

The market estimates provided by your team were pretty much in line with what we were theorizing internally. Really appreciate the work on this.

The sale account manager and the service was excellent. The data and market trends gathered from the report was insightful and really assisted while planning future product and growth strategies.

The report is excellent and has good amount of data and our team is extremely happy with the information provided.

Thank you very much for your cooperation and post purchase support. We were really happy with the final deliverable, and the takeaways from the report.