In 2021, the global microgrid market surpassed 14.3 billion U.S. dollars, a year-over-year growth of 13 percent. The market is forecast to grow at a compound annual growth rate (CAGR) of 17.9 percent between 2022 and 2028, to reach 43.9 billion dollars in the latter year.

The global microgrid market size reached USD 35.2 Billion in 2024. Looking forward, IMARC Group expects the market to reach USD 79.6 Billion by 2033, exhibiting a growth rate (CAGR) of 8.75% during 2025-2033. The growing demand for enhanced energy security, along with the need for reliable power, rising need for cleaner and more sustainable energy sources, and increasing demand for cost-effective energy systems are some of the major factors propelling the market.

Report Attribute	Key Statistics
Base Year	2024
Forecast Years	2025-2033
Historical Years	2019-2024
Market Size in 2024	USD 35.2 Billion
Market Forecast in 2033	USD 79.6 Billion
Market Growth Rate ​​​​​​​2025-2033	8.75%

IMARC Group provides an analysis of the key trends in each segment of the global microgrid market report, along with forecasts at the global and regional levels for 2025-2033. Our report has categorized the market based on energy source and application.

The market size of the Microgrid Market is categorized based on Type (Grid Connected, Off-Grid) and Application (Remote Systems, Institution and Utility, Commercial and Industrial, Military, Others) and geographical regions (North America, Europe, Asia-Pacific, South America, and Middle-East and Africa).

This report provides insights into the market size and forecasts the value of the market, expressed in USD million, across these defined segments.

According to Cognitive Market Research, the global Microgrid market size is USD 42.6 billion in 2024 and will expand at a compound annual growth rate (CAGR) of 21.6% from 2024 to 2031 Market Dynamics of Microgrid Market Key Drivers for Microgrid Market Increasing demand for improved energy security- The growing demand for improved energy security and reliability in numerous businesses, communities, and essential facilities is driving market expansion. Natural catastrophes, cyberattacks, and equipment failures all have the potential to disrupt traditional centralized power systems, resulting in costly downtime and safety issues. Microgrids, on the other hand, provide a solution by delivering a decentralized, self-sufficient energy infrastructure that can easily detach from the main grid during disruptions. These grids utilize modern control systems to detect grid faults and automatically switch to island mode to ensure a continuous power supply. This feature is especially important for critical infrastructure such as hospitals, data centers, and military bases, where uninterrupted electricity is essential for survival. Increasing need for cleaner and more sustainable energy sources Key Restraints for Microgrid Market High cost and operational challenges limited scalability in Microgrid Market Introduction of the Microgrid Market A microgrid is a small-scale energy system that creates, distributes, and manages electricity either on its own or in combination with the main grid. It often consists of a mix of renewable energy sources, energy storage devices, and traditional generators. It can function independently or detach from the main grid during power outages or emergencies, ensuring a consistent and uninterrupted power supply to a specified area or facility. Microgrids are becoming increasingly popular worldwide due to their high flexibility and ability to be adjusted to meet specific energy requirements. At the moment, the growing use of microgrids, which increase energy efficiency, reduce dependency on fossil fuels, and improve system resilience, is driving market expansion. In accordance with this, rising global concerns about decreasing greenhouse gas (GHG) emissions are fueling market expansion. Furthermore, governing bodies in various countries are encouraging the adoption of microgrids by providing a variety of incentives, which is helping to increase the market

The Microgrid Market size was valued at USD 34.04 Billion in 2024 and is expected to reach USD 84.17 Billion in 2031, growing at a CAGR of 11.98% over the forecast period of 2024 to 2031.

Global Microgrid Market Drivers

The need for energy resilience is growing.
Resilient energy systems are becoming more and more necessary as natural disasters and power outages occur more frequently. In the event of a grid outage, microgrids’ localized power source guarantees a steady supply of energy.

Growing Use of Renewable Energy
One major driver is the incorporation of renewable energy sources, such as wind and solar power, into microgrids. Microgrids help achieve global sustainability goals by enabling the effective management and storage of renewable energy.

Governmental Programs and Rewards
Globally, governments are encouraging the use of microgrids through grants, subsidies, and advantageous legislation focused on lowering carbon emissions and increasing energy efficiency. The United States and Europe, for instance, have started initiatives to promote grid modernization and renewable energy.

The remote microgrid market size is evaluated at `USD 8.8 billion in 2024 and is poised to exceed USD 97.2 billion by the end of 2037, registering over 20.2% CAGR during the forecast period i.e., between 2025-2037. Asia Pacific is poised to register the largest market share of 26.4% by 2037 owing to growing investments in renewable energy power sources.

The global microgrid market size is predicted to rise from USD 10.24 billion to USD 52.02 billion, exhibiting a CAGR of over 13.2% during the forecast timeline, from 2025 through 2037. North America is expected to be the largest with a share of about 38% by 2037, propelled by increasing need for reliable and uninterrupted power supply, especially in remote and rural areas, and increasing popularity of renewable energy sources such as solar and wind energy.

The North America microgrid market size reached USD 14.9 Billion in 2024. Looking forward, IMARC Group expects the market to reach USD 36.2 Billion by 2033, exhibiting a growth rate (CAGR) of 9.87% during 2025-2033.

Report Attribute	Key Statstics
Base Year	2024
Forecast Years	2025-2033
Historical Years	2019-2024
Market Size in 2024	USD 14.9 Billion
Market Forecast in 2033	USD 36.2 Billion
Market Growth Rate 2025-2033	9.87%

IMARC Group provides an analysis of the key trends in each sub-segment of the North America microgrid market report, along with forecasts at the regional and country level from 2025-2033. Our report has categorized the market based on energy source and application.

The American continent, led by the United States, accounted for the largest share of the global microgrids market in 2018 and 2022. However, the market share of the Americas dropped from 54 percent to 38 percent between these two years and is forecast to decrease to 34 percent by 2027. By comparison, the Asia-Pacific region, led by China, is expected to surpass the Americas and reach a market share of 43 percent by the end of the period under consideration. Microgrids are local power grids that operate independently from the main electrical grid.

The DC microgrid market size was USD 7.2 billion in 2024 and is estimated to reach USD 81.4 billion by the end of 2037, expanding at a CAGR of 20.6% during the forecast period, i.e., 2025-2037. Asia Pacific is predicted to account for a prime share of 56.3% owing to the increasing adoption of renewable energy-powered grid infrastructure.

The global microgrid market size reached approximately USD 28.98 Billion in 2024. The market is projected to grow at a CAGR of 10.40% between 2025 and 2034, reaching a value of around USD 77.95 Billion by 2034.

The size and share of the market is categorized based on Type (AC Microgrids, DC Microgrids, Hybrid Microgrids) and Application (Commercial & Industrial Facilities, Residential Developments, Military Installations, Remote Communities, Utility Networks) and geographical regions (North America, Europe, Asia-Pacific, South America, and Middle-East and Africa).

The Microgrid Market is expected to grow at a CAGR of 18.0% by 2032, driven by the rise of grid-connected microgrids in various regions.

The global microgrid market value is forecast to grow from approximately 30 billion U.S. dollars in 2022 to over 60.5 billion U.S. dollars by 2027. The estimated compound annual growth rate (CAGR) between 2023 and 2027 is 16 percent. In 2027, the worldwide leader in the microgrids market will be the Asia-Pacific region.

By 2023, the global microgrid market size is anticipated to be worth US$ 35,488.1 million. By 2033, the microgrid sales may achieve US$ 113,265.7 million. By 2033, the microgrid market size is expected to progress at a 12.3% CAGR.

Attributes	Details
Market Valuation for 2023	US$ 35,488.1 million
Market Valuation for 2033	US$ 113,265.7 million
Market CAGR from 2023 to 2033	12.3%

Category-wise Outlook

Category	Microgrid Infrastructure
Leading Segment	Hardware
Segment Share	41.0%

Category	Connectivity
Leading Segment	Off Grid
Segment Share	61.9%

Region-wise Analysis

Attributes	Details
United States Market CAGR	17.6%
Canada Market CAGR	8.3%

Attributes	Details
United Kingdom Market CAGR	10.4%
France Market CAGR	6.9%
Italy Market CAGR	3.5%
Spain Market CAGR	3.2%
Germany Market CAGR	8.5%

Attributes	Details
India Market CAGR	8.5%
China Market CAGR	9.1%
South Korea Market CAGR	3.6%
Japan Market CAGR	4.3%

Microgrid market size was valued at USD 28.80 Billion in 2019 and is forecasted to reach USD 61.18 Billion by 2027 at a CAGR of 10.5%. Microgrid report classifies global market by share, trend, and on the basis of power, product, application, and region | Microgrids industry | microgrid market research | microgrid market forecast | microgrid companies | microgrid trends

Analyze the market segmentation of the Microgrid industry. Gain insights into market share distribution with a detailed breakdown of key segments and their growth.

Global Microgrid Market is anticipated to grow at a CAGR of 18.0% during the forecast period, with an estimated size and share exceeding USD 332.06 million by 2032, according to projections.

The global remote microgrid market, valued at $424.3 million in 2023, is projected to experience substantial growth, reaching $3,710.6 million by 2032, with a remarkable CAGR of 23.8% during the forecast period. This growth is primarily driven by the increasing demand for reliable, off-grid, and sustainable energy solutions in remote areas where traditional infrastructure is unavailable. Governments worldwide are offering incentives and support to promote renewable energy adoption, further fueling market expansion. Additionally, advancements in renewable energy technologies, such as solar, wind, and storage systems, are making microgrids more efficient and cost-effective. The ability of remote microgrids to provide energy security in isolated regions, support disaster recovery, and empower industries with continuous power is also contributing to the market's rapid growth. Key drivers for this market are: Increasing electrification needs in remote areas Government incentives and policies supporting microgrid adoption Integration of renewable energy sources into microgrids Rising demand for reliable power during outages and emergencies. Potential restraints include: High initial investment costs compared to traditional grid infrastructure Intermittency issues with renewable energy sources Lack of skilled labor for installation and maintenance. Notable trends are: Microgrids offer a cost-effective and environmentally friendly way to integrate intermittent renewable energy sources like solar and wind into power systems. The incorporation of advanced technologies, such as AI, ML, and IoT, enhances the efficiency, reliability, and monitoring capabilities of microgrids. Governments worldwide are providing incentives and promoting policies to incentivize the adoption of microgrids for rural electrification and disaster recovery. .

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Energy Storage For Microgrids Market Size 2024-2028

The energy storage for microgrids market size is forecast to increase by USD 2.1 billion at a CAGR of 22.79% between 2023 and 2028.

The market is witnessing significant growth due to several key factors. Firstly, there is an increasing focus on renewable energy sources and the need for energy storage solutions to ensure grid stability and reliability. This trend is being driven by government initiatives and support for microgrid energy storage installation projects. Secondly, advancements in technology are leading to more efficient and cost-effective energy storage solutions. However, the high implementation costs associated with energy storage systems remain a challenge for market growth. Despite this, the market is expected to continue expanding as the benefits of energy storage for microgrids become increasingly apparent.In the US and North America, the market is expected to grow steadily due to the region's focus on renewable energy and grid modernization efforts. Keywords: energy storage, microgrids, renewable energy, government support, technology, implementation costs, grid stability, reliability.

What will be the Size of the Energy Storage For Microgrids Market During the Forecast Period?

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The market In the United States is experiencing significant growth due to the increasing integration of renewable energy sources, such as solar and wind, into the power sector. According to industry reports, the market is projected to reach over 10 Gigawatt-hours (GWh) of energy capacity by 2025. The stationary energy storage segment is expected to dominate the market, driven by the need for grid reliability and resilience. The transportation market, including electrified powertrains and electric vehicles (EV), is also a key growth area, with commodity trading and transportation of renewable energy playing a crucial role. The low-carbon economy is further fueling demand for energy storage in various sectors, including industry, buildings, agriculture, and consumer electronics.Demand management and EV adoption are also significant trends, as energy storage enables better integration of these systems into the power grid. Photovoltaics (PV) and wind markets are also driving the need for energy storage to ensure grid stability and optimize energy production.

How is this Energy Storage For Microgrids Industry segmented and which is the largest segment?

The energy storage for microgrids industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD million' for the period 2024-2028, as well as historical data from 2018-2022 for the following segments. ApplicationRemoteCommunity and utilityInstitution and campusMilitaryBattery TypeLithium-ion batteriesLead-acid batteriesGeographyNorth AmericaUSAPACChinaJapanEuropeGermanyFranceSouth AmericaMiddle East and Africa

By Application Insights

The remote segment is estimated to witness significant growth during the forecast period.

Microgrids, which operate independently from the main power grid, are essential for powering remote systems. These systems often rely on standalone power sources, such as diesel generators, solar, and wind energy. However, the absence of energy storage systems in microgrids results in excess power generated from renewable sources being wasted. To mitigate this issue, energy storage systems are integrated into microgrids to capture and store excess energy for later use. The implementation of energy storage in microgrids not only reduces the total cost of electricity generation by producing power on-site but also enhances the reliability and efficiency of these systems.The integration of energy storage is particularly beneficial for sectors such as Transport, Industry, Buildings, Agriculture, and Commodity trading, where remote power is required. Corporate strategies and policy professionals recognize the importance of energy storage in microgrids, making it a significant area of focus for research and investment.

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The Remote segment was valued at USD 183.60 billion in 2018 and showed a gradual increase during the forecast period.

Regional Analysis

APAC is estimated to contribute 33% to the growth of the global market during the forecast period.

Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

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The North American market for energy storage in microgrids held the largest share In the global industry in 2023. Key contributors to this market's revenue growth include the United States, Canada, and Mexico. The emphasis on ren