PUBLISHER: IMARC | PRODUCT CODE: 1468091
PUBLISHER: IMARC | PRODUCT CODE: 1468091
Nanogrid Market by Type, Components, Mode of Operation, Function, Energy Source, Application, and Region 2024-2032
The Global nanogrid market size reached US$ 16.2 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 31.3 Billion by 2032, exhibiting a growth rate (CAGR) of 7.4% during 2024-2032. The increasing electricity consumption, stringent policies imposed by governments of several countries to minimize carbon emissions, and various product innovations represent some of the key factors driving the market.
A nanogrid refers to a power distribution system that generates and stores power for a house or a small building. It offers improved electrical services to areas that insufficiently served by a conventional electricity grid. It can operate in either island mode or grid connected mode and comprises a local power production, domestic load, gateway, controller and a storage. At present, the increasing sales of home appliances and smart devices, such as smartphones, tablets, desktops, laptops, on account of rising penetration of high speed internet connectivity is catalyzing the demand for nanogrids across the globe.
Global Nanogrid Market
Nanogrid Market Trends:
Rapid urbanization, expanding global population, and increasing investments in the development of smart cities by governing agencies of numerous countries are driving the application of nanogrids in commercial and residential complexes. This represents one of the major factors strengthening the market growth around the world. Moreover, the surging consumption of electricity worldwide is driving the need for nanogrids to minimize the instances of power failures. In addition, due to rising environmental concerns, governing agencies of numerous countries are imposing stringent policies to reduce carbon emissions and boost the adoption of renewable energy, such as solar photovoltaic (PV) and nanogrids. They are also undertaking measures to facilitate the supply of electricity in rural areas. Apart from this, there is an increase in the awareness among people about the benefits of using nanogrids, such as improving power quality and reliability and storing clean energy. This, along with the launch of the smart grid that allows real-time collection of data about the electricity demand and supply during the transmission and distribution process is favoring the growth of the market. Besides this, the rising adoption of nonogrids in the agriculture sector for various irrigation processes like pumping water and spraying pesticides is contributing to the market growth. Additionally, the growing number of electric vehicle (EV) charging stations that are powered by nanogrids to provide uninterrupted charging on account of the increasing demand for EVs is creating a positive outlook for the market. The market growth can also be attributed to inflating income levels of individuals and improving living standards.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each segment of the global nanogrid market, along with forecasts at the global, regional, and country level from 2024-2032. Our report has categorized the market based on product, components, function, sources, and application.
Type Insights:
DC Nanogrid
AC Nanogrid
The report has also provided a detailed breakup and analysis of the nanogrid market based on the type. This includes DC nanogrid and AC nanogrid. According to the report, DC nanogrid represented the largest market.
Components Insights:
Controller
Gateway
Storage
Others
A detailed breakup and analysis of the nanogrid market based on the components has also been provided in the report. This includes controller, gateway, storage, and others. According to the report, controller represented the largest segment.
Mode of Operation Insights:
Island Mode
Grid Connected Mode
The report has also provided a detailed breakup and analysis of the nanogrid market based on the mode of operation. This includes island mode and grid connected mode. According to the report, island mode represented the largest market.
Function Insights:
Energy Generation
Energy Storage
A detailed breakup and analysis of the nanogrid market based on the function has also been provided in the report. This includes energy generation and energy storage. According to the report, energy generation represented the largest segment.
Energy Source Insights:
Solar
Wind
Others
The report has also provided a detailed breakup and analysis of the nanogrid market based on the energy source. This includes solar, wind and others. According to the report, solar represented the largest market.
Application Insights:
Residential
Commercial
A detailed breakup and analysis of the nanogrid market based on the application has also been provided in the report. This includes residential and commercial. According to the report, residential represented the largest segment.
Regional Insights:
North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa
The report has also provided a comprehensive analysis of all the major regional markets that include North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and the Middle East and Africa. According to the report, Asia Pacific was the largest market for nanogrid. Some of the factors driving the Asia Pacific nanogrid market included numerous initiatives undertaken by governing authorities to reduce carbon emission, integration of advanced technologies, launch of smart grids, etc.
Competitive Landscape:
The report has also provided a comprehensive analysis of the competitive landscape in the global nanogrid market. Detailed profiles of all major companies have also been provided. Some of the companies covered include Eaton Corporation plc, Emerson Electric Co., and Sunverge Energy Inc. Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.
Key Questions Answered in This Report:
- How has the global nanogrid market performed so far and how will it perform in the coming years?
- What are the drivers, restraints, and opportunities in the global nanogrid market?
- What are the key regional markets?
- Which countries represent the most attractive nanogrid markets?
- What is the breakup of the market based on the product?
- What is the breakup of the market based on the components?
- What is the breakup of the market based on the function?
- What is the breakup of the market based on the sources?
- What is the breakup of the market based on the application?
- What is the competitive structure of the global nanogrid market?
- Who are the key players/companies in the global nanogrid market?
Table of Contents
1 Preface
2 Scope and Methodology
- 2.1 Objectives of the Study
- 2.2 Stakeholders
- 2.3 Data Sources
- 2.3.1 Primary Sources
- 2.3.2 Secondary Sources
- 2.4 Market Estimation
- 2.4.1 Bottom-Up Approach
- 2.4.2 Top-Down Approach
- 2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
- 4.1 Overview
- 4.2 Key Industry Trends
5 Global Nanogrid Market
- 5.1 Market Overview
- 5.2 Market Performance
- 5.3 Impact of COVID-19
- 5.4 Market Forecast
6 Market Breakup by Type
- 6.1 DC Nanogrid
- 6.1.1 Market Trends
- 6.1.2 Market Forecast
- 6.2 AC Nanogrid
- 6.2.1 Market Trends
- 6.2.2 Market Forecast
7 Market Breakup by Components
- 7.1 Controller
- 7.1.1 Market Trends
- 7.1.2 Market Forecast
- 7.2 Gateway
- 7.2.1 Market Trends
- 7.2.2 Market Forecast
- 7.3 Storage
- 7.3.1 Market Trends
- 7.3.2 Market Forecast
- 7.4 Others
- 7.4.1 Market Trends
- 7.4.2 Market Forecast
8 Market Breakup by Mode of Operation
- 8.1 Islanded Mode
- 8.1.1 Market Trends
- 8.1.2 Market Forecast
- 8.2 Grid Connected Mode
- 8.2.1 Market Trends
- 8.2.2 Market Forecast
9 Market Breakup by Function
- 9.1 Energy Generation
- 9.1.1 Market Trends
- 9.1.2 Market Forecast
- 9.2 Energy Storage
- 9.2.1 Market Trends
- 9.2.2 Market Forecast
10 Market Breakup by Energy Source
- 10.1 Solar
- 10.1.1 Market Trends
- 10.1.2 Market Forecast
- 10.2 Wind
- 10.2.1 Market Trends
- 10.2.2 Market Forecast
- 10.3 Others
- 10.3.1 Market Trends
- 10.3.2 Market Forecast
11 Market Breakup by Application
- 11.1 Residential
- 11.1.1 Market Trends
- 11.1.2 Market Forecast
- 11.2 Commercial
- 11.2.1 Market Trends
- 11.2.2 Market Forecast
12 Market Breakup by Region
- 12.1 North America
- 12.1.1 United States
- 12.1.1.1 Market Trends
- 12.1.1.2 Market Forecast
- 12.1.2 Canada
- 12.1.2.1 Market Trends
- 12.1.2.2 Market Forecast
- 12.1.1 United States
- 12.2 Asia-Pacific
- 12.2.1 China
- 12.2.1.1 Market Trends
- 12.2.1.2 Market Forecast
- 12.2.2 Japan
- 12.2.2.1 Market Trends
- 12.2.2.2 Market Forecast
- 12.2.3 India
- 12.2.3.1 Market Trends
- 12.2.3.2 Market Forecast
- 12.2.4 South Korea
- 12.2.4.1 Market Trends
- 12.2.4.2 Market Forecast
- 12.2.5 Australia
- 12.2.5.1 Market Trends
- 12.2.5.2 Market Forecast
- 12.2.6 Indonesia
- 12.2.6.1 Market Trends
- 12.2.6.2 Market Forecast
- 12.2.7 Others
- 12.2.7.1 Market Trends
- 12.2.7.2 Market Forecast
- 12.2.1 China
- 12.3 Europe
- 12.3.1 Germany
- 12.3.1.1 Market Trends
- 12.3.1.2 Market Forecast
- 12.3.2 France
- 12.3.2.1 Market Trends
- 12.3.2.2 Market Forecast
- 12.3.3 United Kingdom
- 12.3.3.1 Market Trends
- 12.3.3.2 Market Forecast
- 12.3.4 Italy
- 12.3.4.1 Market Trends
- 12.3.4.2 Market Forecast
- 12.3.5 Spain
- 12.3.5.1 Market Trends
- 12.3.5.2 Market Forecast
- 12.3.6 Russia
- 12.3.6.1 Market Trends
- 12.3.6.2 Market Forecast
- 12.3.7 Others
- 12.3.7.1 Market Trends
- 12.3.7.2 Market Forecast
- 12.3.1 Germany
- 12.4 Latin America
- 12.4.1 Brazil
- 12.4.1.1 Market Trends
- 12.4.1.2 Market Forecast
- 12.4.2 Mexico
- 12.4.2.1 Market Trends
- 12.4.2.2 Market Forecast
- 12.4.3 Others
- 12.4.3.1 Market Trends
- 12.4.3.2 Market Forecast
- 12.4.1 Brazil
- 12.5 Middle East and Africa
- 12.5.1 Market Trends
- 12.5.2 Market Breakup by Country
- 12.5.3 Market Forecast
13 Drivers, Restraints, and Opportunities
- 13.1 Overview
- 13.2 Drivers
- 13.3 Restraints
- 13.4 Opportunities
14 Value Chain Analysis
15 Porters Five Forces Analysis
- 15.1 Overview
- 15.2 Bargaining Power of Buyers
- 15.3 Bargaining Power of Suppliers
- 15.4 Degree of Competition
- 15.5 Threat of New Entrants
- 15.6 Threat of Substitutes
16 Price Analysis
17 Competitive Landscape
- 17.1 Market Structure
- 17.2 Key Players
- 17.3 Profiles of Key Players
- 17.3.1 Eaton Corporation plc
- 17.3.1.1 Company Overview
- 17.3.1.2 Product Portfolio
- 17.3.1.3 Financials
- 17.3.1.4 SWOT Analysis
- 17.3.2 Emerson Electric Co.
- 17.3.2.1 Company Overview
- 17.3.2.2 Product Portfolio
- 17.3.2.3 Financials
- 17.3.2.4 SWOT Analysis
- 17.3.3 Sunverge Energy Inc.
- 17.3.3.1 Company Overview
- 17.3.3.2 Product Portfolio
- 17.3.1 Eaton Corporation plc
Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.
List of Figures
- Figure 1: Global: Nanogrid Market: Major Drivers and Challenges
- Figure 2: Global: Nanogrid Market: Sales Value (in Billion US$), 2018-2023
- Figure 3: Global: Nanogrid Market Forecast: Sales Value (in Billion US$), 2024-2032
- Figure 4: Global: Nanogrid Market: Breakup by Type (in %), 2023
- Figure 5: Global: Nanogrid Market: Breakup by Components (in %), 2023
- Figure 6: Global: Nanogrid Market: Breakup by Mode of Operation (in %), 2023
- Figure 7: Global: Nanogrid Market: Breakup by Function (in %), 2023
- Figure 8: Global: Nanogrid Market: Breakup by Energy Source (in %), 2023
- Figure 9: Global: Nanogrid Market: Breakup by Application (in %), 2023
- Figure 10: Global: Nanogrid Market: Breakup by Region (in %), 2023
- Figure 11: Global: Nanogrid (DC Nanogrid) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 12: Global: Nanogrid (DC Nanogrid) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 13: Global: Nanogrid (AC Nanogrid) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 14: Global: Nanogrid (AC Nanogrid) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 15: Global: Nanogrid (Controller) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 16: Global: Nanogrid (Controller) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 17: Global: Nanogrid (Gateway) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 18: Global: Nanogrid (Gateway) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 19: Global: Nanogrid (Storage) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 20: Global: Nanogrid (Storage) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 21: Global: Nanogrid (Other Components) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 22: Global: Nanogrid (Other Components) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 23: Global: Nanogrid (Islanded Mode) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 24: Global: Nanogrid (Islanded Mode) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 25: Global: Nanogrid (Grid Connected Mode) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 26: Global: Nanogrid (Grid Connected Mode) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 27: Global: Nanogrid (Energy Generation) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 28: Global: Nanogrid (Energy Generation) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 29: Global: Nanogrid (Energy Storage) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 30: Global: Nanogrid (Energy Storage) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 31: Global: Nanogrid (Solar) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 32: Global: Nanogrid (Solar) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 33: Global: Nanogrid (Wind) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 34: Global: Nanogrid (Wind) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 35: Global: Nanogrid (Other Energy Sources) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 36: Global: Nanogrid (Other Energy Sources) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 37: Global: Nanogrid (Residential) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 38: Global: Nanogrid (Residential) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 39: Global: Nanogrid (Commercial) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 40: Global: Nanogrid (Commercial) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 41: North America: Nanogrid Market: Sales Value (in Million US$), 2018 & 2023
- Figure 42: North America: Nanogrid Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 43: United States: Nanogrid Market: Sales Value (in Million US$), 2018 & 2023
- Figure 44: United States: Nanogrid Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 45: Canada: Nanogrid Market: Sales Value (in Million US$), 2018 & 2023
- Figure 46: Canada: Nanogrid Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 47: Asia-Pacific: Nanogrid Market: Sales Value (in Million US$), 2018 & 2023
- Figure 48: Asia-Pacific: Nanogrid Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 49: China: Nanogrid Market: Sales Value (in Million US$), 2018 & 2023
- Figure 50: China: Nanogrid Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 51: Japan: Nanogrid Market: Sales Value (in Million US$), 2018 & 2023
- Figure 52: Japan: Nanogrid Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 53: India: Nanogrid Market: Sales Value (in Million US$), 2018 & 2023
- Figure 54: India: Nanogrid Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 55: South Korea: Nanogrid Market: Sales Value (in Million US$), 2018 & 2023
- Figure 56: South Korea: Nanogrid Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 57: Australia: Nanogrid Market: Sales Value (in Million US$), 2018 & 2023
- Figure 58: Australia: Nanogrid Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 59: Indonesia: Nanogrid Market: Sales Value (in Million US$), 2018 & 2023
- Figure 60: Indonesia: Nanogrid Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 61: Others: Nanogrid Market: Sales Value (in Million US$), 2018 & 2023
- Figure 62: Others: Nanogrid Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 63: Europe: Nanogrid Market: Sales Value (in Million US$), 2018 & 2023
- Figure 64: Europe: Nanogrid Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 65: Germany: Nanogrid Market: Sales Value (in Million US$), 2018 & 2023
- Figure 66: Germany: Nanogrid Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 67: France: Nanogrid Market: Sales Value (in Million US$), 2018 & 2023
- Figure 68: France: Nanogrid Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 69: United Kingdom: Nanogrid Market: Sales Value (in Million US$), 2018 & 2023
- Figure 70: United Kingdom: Nanogrid Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 71: Italy: Nanogrid Market: Sales Value (in Million US$), 2018 & 2023
- Figure 72: Italy: Nanogrid Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 73: Spain: Nanogrid Market: Sales Value (in Million US$), 2018 & 2023
- Figure 74: Spain: Nanogrid Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 75: Russia: Nanogrid Market: Sales Value (in Million US$), 2018 & 2023
- Figure 76: Russia: Nanogrid Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 77: Others: Nanogrid Market: Sales Value (in Million US$), 2018 & 2023
- Figure 78: Others: Nanogrid Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 79: Latin America: Nanogrid Market: Sales Value (in Million US$), 2018 & 2023
- Figure 80: Latin America: Nanogrid Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 81: Brazil: Nanogrid Market: Sales Value (in Million US$), 2018 & 2023
- Figure 82: Brazil: Nanogrid Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 83: Mexico: Nanogrid Market: Sales Value (in Million US$), 2018 & 2023
- Figure 84: Mexico: Nanogrid Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 85: Others: Nanogrid Market: Sales Value (in Million US$), 2018 & 2023
- Figure 86: Others: Nanogrid Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 87: Middle East and Africa: Nanogrid Market: Sales Value (in Million US$), 2018 & 2023
- Figure 88: Middle East and Africa: Nanogrid Market: Breakup by Country (in %), 2023
- Figure 89: Middle East and Africa: Nanogrid Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 90: Global: Nanogrid Industry: Drivers, Restraints, and Opportunities
- Figure 91: Global: Nanogrid Industry: Value Chain Analysis
- Figure 92: Global: Nanogrid Industry: Porter's Five Forces Analysis
List of Tables
- Table 1: Global: Nanogrid Market: Key Industry Highlights, 2023 and 2032
- Table 2: Global: Nanogrid Market Forecast: Breakup by Type (in Million US$), 2024-2032
- Table 3: Global: Nanogrid Market Forecast: Breakup by Components (in Million US$), 2024-2032
- Table 4: Global: Nanogrid Market Forecast: Breakup by Mode of Operation (in Million US$), 2024-2032
- Table 5: Global: Nanogrid Market Forecast: Breakup by Function (in Million US$), 2024-2032
- Table 6: Global: Nanogrid Market Forecast: Breakup by Energy Source (in Million US$), 2024-2032
- Table 7: Global: Nanogrid Market Forecast: Breakup by Application (in Million US$), 2024-2032
- Table 8: Global: Nanogrid Market Forecast: Breakup by Region (in Million US$), 2024-2032
- Table 9: Global: Nanogrid Market: Competitive Structure
- Table 10: Global: Nanogrid Market: Key Players
