India Mini Grid Market Insights, Leading Key Players And Top Factors Driving 2020–2027

Increasing instances of cyber attacks  on energy infrastructures, increasing adoption of Mini Grids for rural electrification, increasing requirement for secure and reliable power supply, and the increasing government initiatives to adopt renewable energy to improve energy access are the key factors driving the growth of the India Mini Grid Market. The Indian government is progressively working to enhance energy access by extending the national grid to remote rural areas. India is working on major programs to reduce energy poverty, especially in rural areas. In rural areas, more than 290 million population lack access to electricity, and more than seven million connected users do not have reliable supply of electricity. Therefore, the government is working on multiple programs such as 24*7 Power to All, an effort to improve energy access to individual households through home solar kits. The home electrification packages consist of solar power packs of more than 190 watts with batteries and are designed for remote off-grid customers. The number of renewable energy projects in the country and the rising emphasis on delivering reliable power supply, will accelerate the demand for Mini Grids in the Indian market over the coming years.

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Mini Grid is a set of electricity storage systems and electricity generators that are interconnected to distribution networks to supply electricity to different groups of customers. It involves small-scale electricity generation for a limited number of consumers, who operate in isolated areas. The Mini Grids have the ability to operate autonomously without being connected to a centralized grid. These systems are powered by batteries, distributed generators, and renewable sources based on the application area, fuel requirement, and availability of generation source.

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On the basis of component, the market is segmented into grid connected and off-grid. Among these, the grid connected segment is projected to grow at a higher CAGR during the forecast period. The grid connected Mini Grids consist of the distribution system, multiple generators, and sophisticated controls, which are necessary components of the Mini Grid. They usually have high reliability than island/remote Mini Grids due to their connection with main power grid. Moreover, expansion of utility-based grid networks along with large scale use of renewable sources of energy, such as offshore winds accelerate the growth of the segment in the market.

Based on grid type, the market is segmented into AC Mini Grid, DC Mini Grid, and hybrid Mini Grid. Among these, the hybrid Mini Grid segment is expected to grow at a higher CAGR during the forecast period. Hybrid renewable Mini Grids are cost-effective as compared to the transmission. These Mini Grids have the ability to produce more reliable power, which in turn, is attracting a large number of end-users to opt for hybrid Mini Grid in India.

On the basis of end-use, the market is segmented into commercial & industrial, remote, government, utilities, institutes & campuses, healthcare, and military. The remote segment is projected to grow at a higher CAGR over the forecast period owing to the increasing adoption of Mini Grids in remote areas of the country. Moreover, Indian government is progressively investing in the development of electricity infrastructure to provide low-cost clean electricity, specially in the remote area of India.

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The key players in the market include ABB Ltd, General Electric Company, Siemens AG, Honeywell International Inc., Eaton Corporation Inc, Schneider Electric SE, Homer Energy LLC, S&C Electric Company, Exelon Corporation, and Power Analytics Corporation among others.

The India Mini Grid Market market has been segmented based on Connectivity, Offering, Grid Type, Pattern, End-Use. Based on Connectivity, the market is segmented into Grid Connected and Off-Grid. Based on Offering, the market is segmented into Hardware, Software, and Service. Based on Grid Type, the market is segmented into AC Mini Grid, DC Mini Grid, and Hybrid Mini Grid. Based on Demography, the market is segmented into Urban, Semi-Urban, and Remote. Based on End-Use, the market is segmented into Commercial & Industrial, Remote, Government, Utilities, Institutes & Campuses, Healthcare, and Military.

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