Asia Pacific Microgrid Market Size & Outlook, 2023-2030
Asia Pacific microgrid market, 2018-2030 (US$M)
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Asia Pacific microgrid market highlights
- The Asia Pacific microgrid market generated a revenue of USD 17,057.4 million in 2023.
- The market is expected to grow at a CAGR of 18.1% from 2024 to 2030.
- In terms of segment, chp was the largest revenue generating power source in 2023.
- CHP is the most lucrative power source segment registering the fastest growth during the forecast period.
- Country-wise, China is expected to register the highest CAGR from 2024 to 2030.
Asia Pacific data book summary
| Market revenue in 2023 | USD 17,057.4 million |
| Market revenue in 2030 | USD 54,605.5 million |
| Growth rate | 18.1% (CAGR from 2023 to 2030) |
| Largest segment | Chp |
| Fastest growing segment | CHP |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | CHP, Natural Gas, Solar PV, Diesel, Fuel Cell |
| Key market players worldwide | ABB Ltd, Siemens AG, GE Aerospace, Eaton Corp PLC, Exelon Corp, Honeywell International Inc, NRG Energy Inc, Spirit AeroSystems Holdings Inc Class A, Northland Power Inc, Viridien |
Other key industry trends
- In terms of revenue, Asia Pacific region accounted for 22.2% of the global microgrid market in 2023.
- Globally, North America is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 54,605.5 million by 2030.
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Microgrid Market Scope
Microgrid Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
Asia Pacific microgrid market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to microgrid market will help companies and investors design strategic landscapes.
Chp was the largest segment with a revenue share of 38.23% in 2023. Horizon Databook has segmented the Asia Pacific microgrid market based on chp, natural gas, solar pv, diesel, fuel cell covering the revenue growth of each sub-segment from 2018 to 2030.
The microgrid market in the Asia Pacific is expected to witness significant growth on account of reasonable growth in the renewable energy market. The use of renewable energy is being driven by major countries focusing on carbon neutrality and setting targets to reduce dependency on fossil fuels.
In addition, the replacement of aging technologies with solar panels and bioenergy is anticipated to augment the renewable energy use in Asia Pacific, which is expected to propel the use of microgrids to reduce cost and provide electricity in rural areas and in cases of power outage.
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Target buyers of Asia Pacific microgrid market databook
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Our clientele includes a mix of microgrid market companies, investment firms, advisory firms & academic institutions.
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30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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The rest of the revenue is generated working with academic and research not-for-profit institutes. We do our bit of pro-bono by working with these institutions at subsidized rates.
Horizon Databook provides a detailed overview of continent-level data and insights on the Asia Pacific microgrid market , including forecasts for subscribers. This continent databook contains high-level insights into Asia Pacific microgrid market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Asia Pacific microgrid market size, by country, 2018-2030 (US$M)
Asia Pacific Microgrid Market Outlook Share, 2023 & 2030 (US$M)
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