Global Nanogrid (Below 1 MW) Market Size By End User (Commercial, Industrial, Institutional), By Application (Solar, EVs, CHP), By Geographic Scope And Forecast

Nanogrid (Below 1 MW) Market Size And Forecast

Nanogrid (Below 1 MW) Market size was valued at USD 10,507.78 Million in 2020 and is projected to reach USD 30,532.31 Million by 2028, growing at a CAGR of 15.79% from 2021 to 2028.

The need to reduce the percentage of carbon emission, in order to slow down the impact of the drastic climate change, fuels the demand for increased power quality and reliability. This in turn contributes to enhancing the demand for the . The Global Nanogrid (Below 1 MW) Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.

Global Nanogrid (Below 1 MW) Market Definition

A nano grid serves its purpose for a single residential or small commercial building (by supplying the medium to low voltage power grid). Nanogrid is also termed the “building cell” of the microgrid. The significant increase in demand for electricity, owing to the rapidly increasing populations, industrialization, and urbanization leads to fuel the need for the nanogrid market.

Global Nanogrid (Below 1 MW) Market Overview

Nanogrids are poised to play a significant role in the independent electricity generation ecosystem with decarbonization, decentralization, digitalization, and non-wires solutions being a key attribute. In accordance with the information published, the introduction of the advanced design aspects of the nanogrid helps to fulfil the load requirements efficiently. The need to reduce the percentage of carbon emission, in order to slow down the impact of the drastic climate change, fuels the demand for increased power quality and reliability. This in turn contributes to enhancing the demand for the nanogrid market. Moreover, renewable energies such as offshore and onshore wind and some energy efficiency measures effectively reduce the emissions by more than 90% that accelerates the economic gains. This leads to upsurge the demand for the transformative change and increase the utilization of RES in nanogrid technology. The nanogrid tends to be a cheaper solution and easier to deploy that introduces the cost effectiveness. The system is easier to aggregate if necessary as it creates a co-ordinated response to the main grid in emergency situations.

In addition, the concerns focusing on identifying the cybersecurity risks in real world residential PV-based DER deployment are some factors hampering the growth of the market.

Global Nanogrid (Below 1 MW) MarketSegmentation Analysis

The Global Nanogrid (Below 1 MW) Market is segmented based on End User, Application, and Geography.

Nanogrid (Below 1 MW) Market, By Application

• Solar• EVs• CHP• Others

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Based on Application, the market is bifurcated into Solar, EVs, CHP, and Others. Solar accounted for the largest market share of 43.75% in 2020, and is projected to grow at a CAGR of 15.92% during the forecast period. EVs was the second-largest market in 2020. Nanogrids are the type of local energy self-sufficient systems with power generation, controls and often store energy.

Nanogrid (Below 1 MW) Market, By End User

• Commercial• Industrial• Institutional• Others

Based on the End User, the Global Nanogrid (Below 1 MW) Market has been segmented into Commercial, Industrial, Institutional, and Others. Commercial accounted for the largest market share of 34.43% in 2020, and is projected to grow at a CAGR of 16.17% during the forecast period. Industrial was the second-largest market in 2020. The commercial sector includes properties related to office, retail, hospitality, towers, specialty, among others.

Nanogrid (Below 1 MW) Market, By Geography

• North America• Europe• Asia Pacific• Rest of the world

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On the basis of Geography, the Global Nanogrid (Below 1 MW) Market is classified into North America, Europe, Asia Pacific, and the Rest of the world. North America accounted for the largest market share of 35.74% in 2020, and is projected to grow at a CAGR of 15.07% during the forecast period. Europe was the second-largest market in 2020.

Key Players

The “Global Nanogrid (Below 1 MW) Market” study report will provide valuable insight with an emphasis on the global market. The major players in the market are Eaton Corporation, Siemens, Robert Bosch, Emerson Network Power, Ideal Power, Greensmith Energy Management Systems, Alpha Group, Nanogrid Technologies, Green Charge Networks, Moixa Technology, and others. The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players globally.

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Reasons to Purchase this Report

• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors• Provision of market value (USD Billion) data for each segment and sub-segment• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled• Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players• The current as well as the future market outlook of the industry with respect to recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions• Includes in-depth analysis of the market from various perspectives through Porter’s five forces analysis• Provides insight into the market through Value Chain• Market dynamics scenario, along with growth opportunities of the market in the years to come• 6-month post-sales analyst support

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