Microgrid BRICS Market $4.5B By 2020, Zpryme Smart Grid Insights Reports
A New Zpryme Smart Grid Insights Report, Microgrids: The BRICS Opportunity, Reveals That By 2020 The BRICS Microgrid Market Is Projected To Reach $4.5 Billion With China Accounting For 45% Of The BRICS Market At $2 Billion.
Austin, TX /PRNewswire-iReach/ -- A new Zpryme (www.zpryme.com) Smart Grid Insights 33-page special report, Microgrids: The BRICS Opportunity, released today reveals that by 2020 the total BRICS microgrid market is projected to reach $4.5 billion with China's lead accounting for 45% of the BRICS market at $2 billion. Globally, the microgrid market will reach $13.4 billion by 2020.
In this special report Zpryme zero-ins on the BRICS microgrid ecosystem by identifying market trends and drivers, recounting country by country projects descriptions, challenges/opportunities to market entry and also two unique Q&A's from Echelon and Siemens.
To download the report, Microgrids: The BRICS Opportunity, please visit Zpryme Smart Grid Insights at: www.smartgridresearch.org.
"With the BRICS nations projected to grow at a compound annual growth rate of 25% from 2012 to 2020 and the total global market valued at $13.4 billion, the microgrid market could possibly be the next big opportunity since the arrival of the Smart Grid. Still in its infancy stage, this is the time for companies to fill a niche to enable and contribute to microgrid BRICS deployment - especially China, India, and Brazil," said Jason S. Rodriguez, CEO, Zpryme.
Zpryme's Microgrids: The BRICS Opportunity, reveals the top BRICS microgrid market value by region, (2020, in US millions):
- China $2,015 (45% Share)
- India $1,191 (27% Share)
- Brazil $518 (11% Share)
- Russia $433 (10% Share)
- South Africa $312 (7% Share)
The current electrical generation system, where energy flows in one direction from the utility to consumers is becoming obsolete. Outdated transmission lines, inefficient equipment and antiquated software will require a tremendous expense to update, as well as present security and reliability problems. Microgrids provide one solution to a more efficient energy system and offer many benefits. Jeff Lund, VP of Business Development at Echelon explained to Zpryme: "Microgrids also represent a cost effective and faster path for building infrastructure and scaling the grid. Rather than the high investment and long construction cycles associated with building large centralized power plants and associated distribution infrastructure, microgrids allow for distributed generation and local demand balancing to enable the grid to be built up neighborhood by neighborhood."
Thierry Godart, President of Siemens U.S. Smart Grid Division, echoed similar sentiment to Zpryme: "For developing countries specifically, a microgrid can offer a very reliable network for a specific region/location. A microgrid allows the local community to take more ownership and control of their infrastructure and ease the investment burden of a national utility."
Overall BRICS nations present a significant opportunity for microgrid development. Throughout the nations, several projects have highlighted the enormous potential that an integrated microgrid, combining renewable energy generation, strategically selected software, and energy storage solutions can offer to the citizens of the BRICS nations.
About Zpryme Smart Grid Insights Practice:
Zpryme-powered Smart Grid Insight Practice (link) and Smart Grid Insights Advisory Board (link) help organizations understand their business environment, engage consumers, inspire innovation, and take action. These practices represent an evolution beyond traditional market research and consulting: combining sound fundamentals, innovative tools and methodologies, industry experience, and creative marketing savvy to supercharge clients' success. At Zpryme, we don't produce tables and charts; we deliver opportunity-focused, actionable insight that is both engaging and easy-to-digest. For more information, visit: www.zpryme.com.
About Zpryme Smart Grid Insights Publication: Developed by Zpryme's Smart Grid (link) and Electric Vehicle (link) Insight practices, Smart Grid Insights at www.smartgridresearch.org was created to give companies authoritative actionable insight to succeed in the Smart Grid and EV ecosystem. Contact us to learn more about our custom market research and advisory today. If your business would like to sponsor a future Smart Grid Insights report that targets decision-makers across the Smart Grid value chain, then please feel free to contact us.Media Contact:
Amy Brizuela Zpryme Research & Consulting, +1 888.977.9631, firstname.lastname@example.org
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SOURCE Zpryme Research & Consulting