Analysis of Growth Opportunities in the ASEAN Microgrid Market, Forecast to 2025

Driven by the Growing Demand for Power and Private Investments in Rural Electrification, four ASEAN Markets will Account for 86.9% of the Total Revenue in 2025

INDUSTRY
Electronics and Sensors

SECTOR
Electronic Devices

RELEASE DATE
30-Jan-2020

REGION
Asia Pacific

DELIVERABLE TYPE
Market Research

RESEARCH CODE
PA79-01-00-00-00

SKU
ES01143-AP-MR_24079

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Analysis of Growth Opportunities in the ASEAN Microgrid Market, Forecast to 2025
Published on: 30-Jan-2020 | SKU: ES01143-AP-MR_24079

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Description

This research service analyzes the growth opportunities in the ASEAN microgrid market, and the countries covered are Malaysia, Singapore, Indonesia, Thailand, Myanmar, Cambodia, Laos, Brunei, Vietnam, and the Philippines. The base year is 2018 and the forecast runs through to 2025. The ASEAN microgrid market is a high-growth market, and revenue is anticipated to register a compound annual growth rate (CAGR) of 25.7% from 2018 to 2025. Market size represents the total annual revenue generated by microgrid vendors. Revenue calculations include both brownfield and greenfield projects. For brownfield projects, the revenue generated from software, power distribution components, and control and automation systems is included; for greenfield projects, the revenue generated from software, control and automation, power distribution components, and distributed energy resources is included.

The Philippines is the highest revenue share holder, while Cambodia and Vietnam will record strong growth. Singapore and Brunei will not generate any market opportunity during the forecast period. A number of pilot projects have been set up across the region, and this will influence future market growth. Technological advancements such as peer-to-peer (P2P) trading, blockchain, and the rising peak demand in urban areas will drive the commercialization of microgrid projects in urban areas, while the electrification of remote communities, uptake of distributed energy resources (DERs), the need for resilient and reliable power supply, and government initiatives and regulations will fuel market growth in Myanmar, Cambodia, and Indonesia.

Most of the projects in the region are funded by foreign companies and global organizations such as The World Bank, the Asian Development Bank, and other non-governmental organizations (NGOs). However, the absence of strong political will and challenges in terms of maintaining assets and revenue collection will slow down market growth.

Key Issues Addressed

Is the ASEAN microgrid market growing? How long will it continue to grow, and at what rate will it grow?
Which countries in the region account for high revenue shares? Which countries hold high growth potential?
What is the future outlook for the market (across all the countries under study)?
What are some of the technological advancements in the microgrid space?
What kind of business models exist? Which of these models will see high uptake during the forecast period and why?
What are the key growth opportunities for the vendors in the ASEAN region?

Author: Rajalingam Arikaarampalayam Chinnasamy

Table of Contents

Executive Summary

Key Findings

Strategic Imperatives for Market Participants

Market Overview

Scope of the Study

ASEAN—An Overview

Access to Electricity—Urban versus Rural

Position of ASEAN Countries on the Growth Potential Curve

Renewable Energy Targets

Regulations in ASEAN

Market Drivers

Government Initiatives and Regulations Drive Demand for Microgrids to Help Achieve Reliable Power Supply

Electrification of Remote Communities and Islands Drives Installation of Microgrids

Uptake of DERs, Increased Efficiency, and Reduced Operational Costs Encourage Market Growth

Need for Resilient and Reliable Power Supply Drives Installation in ASEAN Countries

Market Restraints

Limited Understanding and High Investment Costs Restrain Growth

Market Forecasts

Revenue Forecast by Region

Revenue Forecast by Region Discussion

Geographic Trends—Key Countries

ASEAN Adoption

Geographic Trends

The Philippines

The Philippines (continued)

Indonesia

Indonesia (continued)

Thailand

Thailand (continued)

Myanmar

Myanmar (continued)

Singapore

Singapore (continued)

Malaysia

Malaysia (continued)

Vietnam

Vietnam (continued)

Cambodia

Cambodia (continued)

Laos

Laos (continued)

Brunei

Competitive Landscape

Trends

Microgrid Business Models

Microgrid Ownership and Financing

Microgrid Ownership and Financing (continued)

Technology Trends

Technology Trends (continued)

Growth Opportunities and Companies to Action

Growth Opportunity 1—Anchor-based Business Model

Growth Opportunity 2—Rise in DERs

Growth Opportunity 3—IoT/Analytics

Growth Opportunity 4—P2P Trading

Strategic Imperatives for Success and Growth

Conclusion

Conclusions—Three Big Predictions

Legal Disclaimer

Appendix

Partial List of Acronyms and Abbreviations Used

List of Exhibits

The Frost & Sullivan Story

Value Proposition—Future of Your Company and Career

Global Perspective

Industry Convergence

360º Research Perspective

Implementation Excellence

Our Blue Ocean StrategyCollaboration, Research and Vision Sparks Innovation

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Details

This research service analyzes the growth opportunities in the ASEAN microgrid market, and the countries covered are Malaysia, Singapore, Indonesia, Thailand, Myanmar, Cambodia, Laos, Brunei, Vietnam, and the Philippines. The base year is 2018 and the forecast runs through to 2025. The ASEAN microgrid market is a high-growth market, and revenue is anticipated to register a compound annual growth rate (CAGR) of 25.7% from 2018 to 2025. Market size represents the total annual revenue generated by microgrid vendors. Revenue calculations include both brownfield and greenfield projects. For brownfield projects, the revenue generated from software, power distribution components, and control and automation systems is included; for greenfield projects, the revenue generated from software, control and automation, power distribution components, and distributed energy resources is included. The Philippines is the highest revenue share holder, while Cambodia and Vietnam will record strong growth. Singapore and Brunei will not generate any market opportunity during the forecast period. A number of pilot projects have been set up across the region, and this will influence future market growth. Technological advancements such as peer-to-peer (P2P) trading, blockchain, and the rising peak demand in urban areas will drive the commercialization of microgrid projects in urban areas, while the electrification of remote communities, uptake of distributed energy resources (DERs), the need for resilient and reliable power supply, and government initiatives and regulations will fuel market growth in Myanmar, Cambodia, and Indonesia. Most of the projects in the region are funded by foreign companies and global organizations such as The World Bank, the Asian Development Bank, and other non-governmental organizations (NGOs). However, the absence of strong political will and challenges in terms of maintaining assets and revenue collection will slow down market growth.--BEGIN PROMO--