UK Microgrid Market Size & Outlook, 2023-2030
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UK microgrid market highlights
- The UK microgrid market generated a revenue of USD 3,053.5 million in 2023 and is expected to reach USD 9,356.0 million by 2030.
- The UK market is expected to grow at a CAGR of 17.3% 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 3,053.5 million |
| Market revenue in 2030 | USD 9,356.0 million |
| Growth rate | 17.3% (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, UK accounted for 4.0% 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 Europe, Germany microgrid market is projected to lead the regional market in terms of revenue in 2030.
- UK is the fastest growing regional market in Europe and is projected to reach USD 9,356.0 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 |
UK 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 37.5% in 2023. Horizon Databook has segmented the UK microgrid market based on chp, natural gas, solar pv, diesel, fuel cell covering the revenue growth of each sub-segment from 2018 to 2030.
According to Renewable Energy Magazine, the wind power sector in the UK has the second-largest installed offshore wind capacity in the world. Presently, the sector accounts for a cumulative capacity of 12 GW offshore wind that is expected to reach 50 GW by 2030.
In addition, the government is exploring methodologies to support small-scale, low-carbon power producers in the UK. These trends are anticipated to increase the installation of wind mills, fueling the demand for microgrids for efficient power distribution.
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Target buyers of UK microgrid market databook
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Our clientele includes a mix of microgrid market companies, investment firms, advisory firms & academic institutions.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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Horizon Databook provides a detailed overview of country-level data and insights on the UK microgrid market , including forecasts for subscribers. This country databook contains high-level insights into UK microgrid market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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UK microgrid market size, by power source, 2018-2030 (US$M)
UK Microgrid Market Outlook Share, 2023 & 2030 (US$M)
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