South Africa Microgrid Market Size & Outlook, 2023-2030
South Africa microgrid market, 2018-2030 (US$M)
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South Africa microgrid market highlights
- The South Africa microgrid market generated a revenue of USD 1,368.8 million in 2023 and is expected to reach USD 3,653.7 million by 2030.
- The South Africa market is expected to grow at a CAGR of 15.1% 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.
Microgrid market data book summary
| Market revenue in 2023 | USD 1,368.8 million |
| Market revenue in 2030 | USD 3,653.7 million |
| Growth rate | 15.1% (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, South Africa accounted for 1.8% 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 Middle East & Africa, Saudi Arabia microgrid market is projected to lead the regional market in terms of revenue in 2030.
- Saudi Arabia is the fastest growing regional market in Middle East & Africa and is projected to reach USD 7,731.5 million by 2030.
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Microgrid Market Scope
Microgrid Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
South Africa 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 34.56% in 2023. Horizon Databook has segmented the South Africa microgrid market based on chp, natural gas, solar pv, diesel, fuel cell covering the revenue growth of each sub-segment from 2018 to 2030.
South Africa is witnessing the adoption of various renewable energy sources, such as solar panels, wind mills, and concentrating solar-thermal power, in order to meet the power demand and reduce power outages in the country. Various investments from private and public sector coupled with favorable government regulations are further supporting the growth of renewable energy sources.
This is expected to increase the installation of microgrids for providing backup electricity at the time of outages and for supplying electricity in rural areas at a lower cost. Moreover, urbanization and improving standard of living owing to increasing per capita income are further expected to fuel commercial and residential construction activities in the country.
According to Afrimat Construction Index (ACI), construction activities in South Africa witnessed a 4.1% growth in Q2 of 2022 compared to Q1 of 2022. These trends are anticipated to drive the construction of several new spaces, which is expected to drive the demand for microgrids for efficient energy distribution and offering backup power during outages.
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Our clientele includes a mix of microgrid market companies, investment firms, advisory firms & academic institutions.
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Horizon Databook provides a detailed overview of country-level data and insights on the South Africa microgrid market , including forecasts for subscribers. This country databook contains high-level insights into South Africa microgrid market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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South Africa microgrid market size, by power source, 2018-2030 (US$M)
South Africa Microgrid Market Outlook Share, 2023 & 2030 (US$M)
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