TechNavio recognizes the following companies as the key players in the Global Microgrid market: GE Co., and Pareto Energy Ltd., Power Analytics Corp., and Viridity Energy.
Commenting on the report, an analyst from TechNavio’s team said: “One of the main trends witnessed in the Global Microgrid market is the increased R&D spending by vendors. Some of the leading vendors in this market such as GE Co., Pareto Energy Ltd., Power Analytics Corp., and Viridity Energy have increased their investment in R&D for the development of sophisticated microgrids. Further, they are partnering with suppliers and value-added resellers. The increasing focus on R&D and establishing partnership networks is helping vendors to produce energy in a cost-effective manner from microgrids. Further, the focus on R&D is helping vendors to introduce microgrids with higher and better integration ability.”
According to the report, one of the main factors driving the market is the increasing demand for better power quality. Microgrids help in increasing the power quality by providing reliable power supply with a drastic reduction in disturbances. Further, microgrids also ensure continuous supply of electricity without any power outages.
Further, the report states that one of the main challenges is the high cost of production and implementation. The production of energy from microgrids is a difficult and costly process as it requires innovative advanced technologies to be used and implemented. Moreover, microgrids are still not very popular among the end-users across all the segments.
The report also includes a discussion of the other vendors operating in this market. The other vendors in the market are ABB Ltd., Chevron Energy, Echelon Corp., Microgrid Energy LLC, Siemens AG, Spirae Inc., and ZBB Energy Corp.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors. For further information on this report, please visit https://www.technavio.com/report/global-microgrid-market-2012-2016
TechNavio, the market research platform of Infiniti Research Ltd., publishes periodic market research reports on niche and emerging technologies. For more information on our market research, please visit https://www.technavio.com/it-hardware-software-services
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TechNavio Announces the Publication of its Research Report -Global Microgrid Market 2012-2016
