Spain Microgrid Market Size & Outlook, 2023-2030
Spain microgrid market, 2018-2030 (US$M)
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Spain microgrid market highlights
- The Spain microgrid market generated a revenue of USD 1,002.4 million in 2023 and is expected to reach USD 2,958.7 million by 2030.
- The Spain market is expected to grow at a CAGR of 16.7% 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 1,002.4 million |
| Market revenue in 2030 | USD 2,958.7 million |
| Growth rate | 16.7% (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, Spain accounted for 1.3% 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 Europe, Germany microgrid market is projected to lead the regional market in terms of revenue in 2030.
- UK is the fastest growing regional market in Europe and is projected to reach USD 9,356.0 million by 2030.
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Microgrid Market Scope
Microgrid Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
Spain 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 43.26% in 2023. Horizon Databook has segmented the Spain 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 renewable energy generation is expected to increase on account of various targets set-up by country. For instance, the country has the target of generating at least 74% of electricity by 2030 from renewable energy sources. Furthermore, by 2050, this percent is expected to reach 100%.
In 2022, the country generated almost 42.2% of its total electricity using renewable sources and ranked second in the list of countries producing the highest amount of electricity in Europe by solar and wind power in 2021.
Spain is witnessing a major boost in its economy owing to the growth of various industries such as energy, tourism, agriculture, and manufacturing. The growth of these industries results in the need for commercial spaces such as offices, warehouses, manufacturing facilities, hotels & restaurants, shopping malls, and supermarkets.
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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 Spain microgrid market , including forecasts for subscribers. This country databook contains high-level insights into Spain microgrid market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Spain microgrid market size, by power source, 2018-2030 (US$M)
Spain Microgrid Market Outlook Share, 2023 & 2030 (US$M)
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