Australia Microgrid Market Size & Outlook, 2023-2030
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Australia microgrid market highlights
- The Australia microgrid market generated a revenue of USD 1,401.6 million in 2023 and is expected to reach USD 4,535.2 million by 2030.
- The Australia market is expected to grow at a CAGR of 18.3% 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 1,401.6 million |
| Market revenue in 2030 | USD 4,535.2 million |
| Growth rate | 18.3% (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, Australia 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 Asia Pacific, China microgrid market is projected to lead the regional market in terms of revenue in 2030.
- China is the fastest growing regional market in Asia Pacific and is projected to reach USD 24,274.0 million by 2030.
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Microgrid Market Scope
Microgrid Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|---|---|---|---|
| Viridien | View profile | 3515 | 27 avenue Carnot, Massy, France, 91300 | https://www.cgg.com |
| Northland Power Inc | View profile | 1344 | 30 Street Clair Avenue West, 17th Floor, Toronto, ON, Canada, M4V 3A1 | https://www.northlandpower.com |
| Exelon Corp | View profile | 19962 | 10 South Dearborn Street, 54th Floor, P.O. Box 805379, Chicago, IL, United States, 60680-5379 | https://www.exeloncorp.com |
| NRG Energy Inc | View profile | 18131 | 910 Louisiana Street, Houston, TX, United States, 77002 | https://www.nrg.com |
| Spirit AeroSystems Holdings Inc Class A | View profile | 20655 | 3801 South Oliver Street, Wichita, KS, United States, 67210 | https://www.spiritaero.com |
| Eaton Corp PLC | View profile | 94000 | 30 Pembroke Road, Eaton House, Dublin, Ireland, D04 Y0C2 | https://www.eaton.com |
| Honeywell International Inc | View profile | 95000 | 855 South Mint Street, Charlotte, NC, United States, 28202 | https://www.honeywell.com |
| GE Aerospace | View profile | 125000 | One Financial Center, Suite 3700, Boston, MA, United States, 02111 | https://www.geaerospace.com |
| Siemens AG | View profile | 321000 | Werner-von-Siemens-Strabe 1, Munich, BY, Germany, 80333 | https://www.siemens.com |
| ABB Ltd | View profile | 108700 | Affolternstrasse 44, Zurich, Switzerland, 8050 | https://www.abb.com |
Australia 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 40.48% in 2023. Horizon Databook has segmented the Australia 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 Australian microgrid market is expected to grow at a significant rate over the forecast period owing to rising investments in infrastructure development, coupled with the growing construction of residential and commercial spaces. Growth in population is driving the demand for various social and commercial infrastructures.
For instance, in Q2 of 2022, the construction of a 20-floor complex started in Sydney with an intent to provide better commercial and residential facilities. The construction is likely to be completed by Q4 of 2023. Such developments are resulting in increased power demand, which is expected to drive the growth of microgrid in order to increase energy efficiency and reduce cost.
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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 Australia microgrid market , including forecasts for subscribers. This country databook contains high-level insights into Australia microgrid market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Australia microgrid market size, by product, 2018-2030 (US$M)
Australia Microgrid Market Outlook Share, 2023 & 2030 (US$M)
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