South Korea Microgrid Market Size & Outlook, 2026-2033
- Energy & Power
- Power Distribution
- Microgrid Market Outlook
- Power Distribution
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South Korea microgrid market highlights
- The South Korea microgrid market generated a revenue of USD 2,120.1 million in 2025 and is expected to reach USD 9,482.3 million by 2033.
- The South Korea market is expected to grow at a CAGR of 21.1% from 2026 to 2033.
- In terms of segment, chp was the largest revenue generating power source in 2025.
- CHP is the most lucrative power source segment registering the fastest growth during the forecast period.
Microgrid market data book summary
| Market revenue in 2025 | USD 2,120.1 million |
| Market revenue in 2033 | USD 9,482.3 million |
| Growth rate | 21.1% (CAGR from 2026 to 2033) |
| Largest segment | Chp |
| Fastest growing segment | CHP |
| Historical data | 2021 - 2024 |
| Base year | 2025 |
| Forecast period | 2026 - 2033 |
| 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, South Korea accounted for 2.1% of the global microgrid market in 2025.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2033.
- In Asia Pacific, China microgrid market is projected to lead the regional market in terms of revenue in 2033.
- China is the fastest growing regional market in Asia Pacific and is projected to reach USD 47,046.2 million by 2033.
The microgrid market in South Korea is expected to witness growth on account of the growing use of renewable energy for generating electricity. The country is witnessing the increased installation of windmills and solar panels to prevent carbon emission.
This has increased the use of microgrids to efficiently distribute energy, even in rural areas. The government has set a target to increase the share of renewable electricity generation by 20% by the year 2030 and around 30-35% by 2040. This will increase the installation of solar panels and windmills, which will drive the market growth.
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Microgrid Market Scope
Microgrid Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|---|---|---|---|
| ABB Ltd | View profile | 108,700 | Affolternstrasse 44, Zurich, Switzerland, 8050 | www.abb.com |
| Siemens AG | View profile | 321,000 | Werner-von-Siemens-Strabe 1, Munich, BY, Germany, 80333 | www.siemens.com |
| GE Aerospace | View profile | 125,000 | One Financial Center, Suite 3700, Boston, MA, United States, 02111 | www.geaerospace.com |
| Honeywell International Inc | View profile | 95,000 | 855 South Mint Street, Charlotte, NC, United States, 28202 | www.honeywell.com |
| Eaton Corp PLC | View profile | 94,000 | 30 Pembroke Road, Eaton House, Dublin, Ireland, D04 Y0C2 | www.eaton.com |
| Spirit AeroSystems Holdings Inc Class A | View profile | 20,655 | 3801 South Oliver Street, Wichita, KS, United States, 67210 | www.spiritaero.com |
| NRG Energy Inc | View profile | 18,131 | 910 Louisiana Street, Houston, TX, United States, 77002 | www.nrg.com |
| Exelon Corp | View profile | 19,962 | 10 South Dearborn Street, 54th Floor, P.O. Box 805379, Chicago, IL, United States, 60680-5379 | www.exeloncorp.com |
| Northland Power Inc | View profile | 1,344 | 30 Street Clair Avenue West, 17th Floor, Toronto, ON, Canada, M4V 3A1 | www.northlandpower.com |
| Viridien | View profile | 3,515 | 27 avenue Carnot, Massy, France, 91300 | www.cgg.com |
South Korea 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 Outlook will help companies and investors design strategic landscapes.
Chp was the largest segment with a revenue share of 43.94% in 2025.
Horizon Databook has segmented the South Korea microgrid market based on chp, natural gas, solar pv, diesel, fuel cell covering the revenue growth of each sub-segment from 2021 to 2033.
The microgrid market in South Korea is expected to witness growth on account of the growing use of renewable energy for generating electricity. The country is witnessing the increased installation of windmills and solar panels to prevent carbon emission.
This has increased the use of microgrids to efficiently distribute energy, even in rural areas. The government has set a target to increase the share of renewable electricity generation by 20% by the year 2030 and around 30-35% by 2040. This will increase the installation of solar panels and windmills, which will drive the market growth.
- South Korea Microgrid Market Power Source Outlook (Revenue, USD Million , 2021-2033)
- CHP
- Natural Gas
- Solar PV
- Diesel
- Fuel Cell
- Others
- South Korea Microgrid Market Product Outlook (Revenue, USD Million , 2021-2033)
- Remote
- Grid Connected
- Hybrid
- South Korea Microgrid Market Application Outlook (Revenue, USD Million , 2021-2033)
- Government
- Education
- Commercial
- Utility
- Defense
- Others
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Horizon Databook provides a detailed overview of country-level data and insights on the South Korea Microgrid Market Outlook, including forecasts for subscribers. This country databook contains high-level insights into South Korea Microgrid Market Outlook from 2021 to 2033, including revenue numbers, major trends, and company profiles.
South Korea Microgrid Market, 2021-2033 (US$M)
South Korea Power Source - Microgrid Market Statistics, 2025 - 2033 (US$M)
