The Europe microgrid market is estimated to project a 10.65% CAGR during the forecast period, 2022-2030. The market growth is driven by the necessity to incorporate clean & renewable energy output, decrease the threat of cyberattacks, and rapid adoption of electronic vehicles (EVs).
The Europe microgrid market growth analysis includes the evaluation of Italy, France, Spain, Netherlands, Germany, Poland, United Kingdom, and Rest of Europe. Numerous microgrid businesses are working to reform the German communities by testing the German market with regional players, using a cutting-edge strategy to purchase and sell renewable energy. Currently, the rooftops of millions are installed with solar panels in Germany.
In addition, France has also entered the microgrid market as other European countries have stepped up in integrating microgrids into their system. According to a new provision, the French Minister for Ecological Transition announced a reduction of the grid fee for renewable heat pumps, EV charging stations, and energy sources. These government provisions are expected to positively affect market growth.
In 2022, the Italian government established a new decree to control the cost of electricity and natural gas for businesses and people, providing financial aid and new initiatives to increase energy production. This will help in bolstering the microgrid market in the country. The decree included an acceleration plan for renewable energy and introduced a single authorization process for solar photovoltaic modules. Such favorable initiatives will attract more and more consumers and providers of microgrid capabilities.
Leading market players are Siemens AG, Schneider Electric SE, etc.
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