China Microgrid Market Size & Outlook, 2023-2030
China microgrid market, 2018-2030 (US$M)
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China microgrid market highlights
- The China microgrid market generated a revenue of USD 7,029.2 million in 2023 and is expected to reach USD 24,274.0 million by 2030.
- The China market is expected to grow at a CAGR of 19.4% 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.
Microgrid market data book summary
| Market revenue in 2023 | USD 7,029.2 million |
| Market revenue in 2030 | USD 24,274.0 million |
| Growth rate | 19.4% (CAGR from 2023 to 2030) |
| Largest segment | Chp |
| Fastest growing segment | CHP |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 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, China accounted for 9.1% of the global microgrid market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China microgrid market is projected to lead the regional market in terms of revenue in 2030.
- China is the fastest growing regional market in Asia Pacific and is projected to reach USD 24,274.0 million by 2030.
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Microgrid Market Scope
Microgrid Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
China 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 37.59% in 2023. Horizon Databook has segmented the China microgrid market based on chp, natural gas, solar pv, diesel, fuel cell covering the revenue growth of each sub-segment from 2018 to 2030.
China has emerged as one of the promising markets in Asia Pacific due to the presence of favorable government policies promoting investments in the construction sector. Factors such as population growth, rapid urbanization, and rising disposable incomes are also playing an important role in developing the country’s construction sector.
Also, a rise in demand for single-family homes is likely to lead to increased construction activities. With the growing construction of several residential and commercial spaces, China is expected to witness increased demand for power management tools, which is expected to fuel the growth of microgrid market over the forecast period.
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Target buyers of China 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 country-level data and insights on the China microgrid market , including forecasts for subscribers. This country databook contains high-level insights into China microgrid market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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China microgrid market size, by power source, 2018-2030 (US$M)
China Microgrid Market Outlook Share, 2023 & 2030 (US$M)
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