Published on : Jan 06, 2020
ResearchMoz has announced the addition of a report titled, “Microgrid-as-a-Service Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019 - 2027” to its expanding repository of research reports. The report provides in-depth insights on the global microgrid-as-a-service (MaaS) market, examining key factors that would influence growth of the said market between 2019 and 2027.
The report analyzes key growth indicators, including value chain analysis, supply chain analysis, and compounded annual growth for assessment period. This analysis helps readers with a know-how of quantitative growth analysis of the microgrid-as-a-service market over the forecast period.
The report elucidates various factors driving the microgrid as a service market. Firstly, economic benefits of microgrid-as-a-service configuration over traditional models is fuelling its adoption for electricity transmission. The underperformance of traditional grids with age-old infrastructure has compelled governments of several countries to switch to MaaS electricity distribution model. For example, in the U.S., the Smart Grid Investment Grant (SGIG) introduced by the Department of Energy is to speed up the shift from traditional electric transmission systems to new-age transmission systems.
The report analyzes scope of growth of the MaaS market in the forthcoming years. According to the report, new projects of rural electrification in emerging economies of Asia Pacific are likely to adopt MaaS transmission configuration. In addition, additional demand for electricity during emergencies such as from hospitals and the defense sector is projected to drive adoption of microgrid-as-a-service configuration for such needs.
Microgrid finds other applications as well. Technological advancements for improving the performance of battery invertors for uninterrupted power supply is routing electricity transmission via a microgrid. To serve this, product manufacturers are striving to develop battery technology with higher power outputs. Such initiatives are expected to lead to greater penetration of microgrid models into various end-use segments.
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Meanwhile, initiatives such as Clean Power Plan are pacing for the development of renewable energy through wind, bio power, and solar energy. Microgrid as a service configuration is deemed to suitable for the development of renewable energy.
Technological innovations and advent of wireless technologies have helped to improve performance of microgrids. Real-time data streaming, storage, processing, and monitoring infrastructure are some offerings of technological innovations that have helped to optimize performance of microgrid as a service.
Manufacturers of microgrid are leveraging these capabilities to reduce practices of long-distance distribution lines that help eliminate transmission losses.
Furthermore, advancements such as convergence of blockchain technology and microgrid as a service will aid trust in such associations. The integration of blockchain technology and MaaS will help stakeholders to manage payments in a secure and convenient manner.
Nevertheless, microgrid-as-a-service model is complex that accounts for its slow adoption. The intense planning and intricate design involved in the construction of microgrids limits their adoption. Besides this, requirement of a skilled workforce for operations and maintenance of microgrid transmission models limits their adoption in developing countries.
Prominent companies operating in the microgrid-as-a-service model are ABB, Aggreko, Eaton, ENGIE, General Electric, Green Energy Corp., Metco Engineering, Schneider Electric, Siemens AG, Spirae LLC, and Tech Mahindra.
The report studies the microgrid as a service market in terms of service, type, end user, and region. On the basis of type, islanded microgrid and grid connected microgrid are two key segments into which microgrid as a service market is divided. On the basis of service, monitoring and optimization, infrastructure upgrade, training, and others are key segments into which microgrid-as-a-service market is divided.
Key regions into which the microgrid as a service market is divided are North America, Asia Pacific, Europe, Middle East and Africa, and South America.