The major factors driving the growth of the GCC Microgrid market during the forecast period includes the increasing requirement for uninterrupted power supply and the growing deployment of microgrids for rural electrification. The increasing demand for clean energy, and the rising instances of cyberattacks on the energy infrastructures, will drive the demand for microgrids, thereby accelerating the growth of the GCC Microgrid market over the coming years. The growing industrialization and rising population across the GCC countries will increase the demand for energy storage systems, thus propelling the growth of the market in the region.
The governments have launched numerous initiatives such as UAE National Energy Strategy 2050, aiming to deliver clean, secure, affordable energy while treating the environment responsibly, and the National Renewable Energy Program (NREP) under Saudi Arabia Vision 2030 focusing towards maximizing the potential of renewable energy sources in Saudi Arabia. All these initiatives will drive the demand for microgrid in GCC countries, especially in Saudi Arabia, to store and distribute energy effectively. In addition to this, the expansion in the electrification projects across GCC countries, including the Yanbu III Power Plant in Saudi Arabia, the Hassayan power plant in Dubai, and the Al Layyah Power Plant Expansion in Sharjah, which will further complement the demand for microgrids over the coming years. On the other hand, the high installation and maintenance cost will hamper the growing demand for the GCC Microgrid market during the forecast period.
A microgrid refers to small-scale power production and a delivery system consisting of distributed generation facilities co-located with the respective loads they serve. A microgrid can connect and disconnect from the grid, allowing it to work in both grid-connected and island mode. Microgrids encompass various types of energy generation resources, efficiency programs, and storage systems, which enables optimal utilization of renewable energy resources and facilitates advanced energy management, demand response, and solutions for load reductions. A microgrid can effectively integrate numerous sources of distributed generation, especially Renewable Energy Sources (RES) – renewable electricity and deliver a backup for grids in emergency cases. The microgrids are generally located at or near the consumption sites and are controlled through a microgrid controller to match the demand to the available supply in the safest and most optimized manner.
Based on the Type, the grid connected segment is expected to grow at a higher CAGR during the forecast period owing to the increasing adoption of grid connected microgrid, especially in the renewable energy projects such as the UAE’s Hassayan power plant, the UAE’s Layyah Power Plant Expansion, and the Saudi Arabia’s 300 MW Sakaka solar plant. The grid connected microgrid offers flexibility and enhances the power supply.
Based on Offering, the hardware segment is expected to grow at a higher CAGR during the forecast period due to the increasing usage of microgrids in the renewable sources of energy such as PV cells, wind turbines, and hydro turbines for energy generation. Microgrids are widely used in various sectors such as energy & utility and power & gas to increase the resilience of electricity supply, reduce carbon emission, and lower the future energy costs.
Various notable players operating in the GCC Microgrid market include ABB, General Electric Company, Schneider Electric SE, Siemens AG, Eaton Corporation Inc, Honeywell International Inc., S&C Electric Company, Exelon Corporation, Caterpillar Inc., among others.
The GCC Microgrid market has been segmented based on connectivity, Type, pattern Offering and vertical. Based on connectivity, the market is segmented into Grid Connected, and Remote/Island/Off-Grid. Based on type, the market is segmented into AC Microgrids, DC Microgrids, and Hybrid. Based on pattern, the market is segmented into Urban/ Metropolitan, Semi urban, and Rural/Island. Based on offering, the market is segmented into hardware, software and services. Based on hardware, the market is further segmented into Power Generators, Energy Storage Systems, and Controllers. Based on services, the market is further segmented into Engineering and Design, Monitoring and Control, and Operations and Maintenance. Based on end-use, the market is segmented into Commercial & Industrial, Remote, Institutes & Campuses¸ Government, Utilities, Military, and Healthcare.
Market Segmentation
GCC Smart Meter Market by Connectivity
* Grid Connected
* Remote/Island/Off-Grid
GCC Smart Meter Market by Type
* AC Microgrids
* DC Microgrids
* Hybrid
GCC Smart Meter Market by Pattern
* Urban/ Metropolitan
* Semi urban
* Rural/Island
GCC Microgrid Market by Offering
* Hardware
* Power Generators
* Energy Storage Systems
* Controllers
* Software
* Services
* Engineering and Design
* Monitoring and Control
* Operations and Maintenance
GCC Microgrid Market by Vertical
* Commercial & Industrial
* Remote
* Institutes & Campuses
* Government
* Utilities
* Military
* Healthcare
G.C.C. Microgrid Market by Countries
* UA.E. All-Up Microgrid Market
* Saudi Arabia All-Up Microgrid Market
* Oman All-Up Microgrid Market
* Kuwait All-Up Microgrid Market
* Rest of G.C.C All-Up Microgrid Market
GCC Microgrid Market Leading Players
* ABB
* General Electric Company
* Schneider Electric SE
* Siemens AG
* Eaton Corporation Inc.
* Honeywell International Inc.
* S&C Electric Company
* Exelon Corporation
* Caterpillar Inc
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