Microgrids Market Report by Key Players, Types, Applications, Countries, Size
Microgrid Market: Introduction Swift industrialization together with increased demand for power is expected to boost growth avenues in the global microgrids market in the forthcoming years, states a new research report by TMR. The study highlights that the market is estimated to expand at a CAGR of 11.3% during the forecast period of 2021–2031, considering the base year as 2020. Thus, the market is all set to garner the valuation of US$ 206.1 Bn by the end of 2031. Microgrid refers to a localized grid with an ability to connect and disconnect with conventional utility grids in order to offer superior level of grid resilience and reliability. Thus, microgrid works as an interconnection between loads within well-defined electric boundaries and distributed energy sources. Microgrids can be operated autonomously; therefore, they are increasingly utilized throughout major grid failures. Thus, the device assists in mitigating risks occurring due ...