South Korea Microgrid Market Size Worth USD 10.4 Billion by 2034 | CAGR: 18.2%

The South Korea microgrid market size is expected to reach USD 10.4 billion by 2034, according to a new study by Polaris Market Research. The report “South Korea Microgrid Market Size, Share, Trends, Industry Analysis Report By Power Source (Natural Gas, CHP, Solar PV, Diesel, Fuel Cell, Others), By Product, Application – Market Forecast, 2025–2034” gives a detailed insight into current market dynamics and provides analysis on future market growth.

A microgrid is a localized energy system that can operate independently or in coordination with the main power grid. It includes distributed energy resources such as solar panels, batteries, generators, and control systems to produce, store, and manage electricity.

South Korea places a high priority on urban energy resilience with frequent climate-related risks such as typhoons and power disruptions. Microgrids play a crucial role in maintaining power supply during grid failures, ensuring that critical services such as hospitals, transportation, and emergency systems remain functional. In major cities such as Seoul and Busan, microgrid projects are being deployed to strengthen local infrastructure and reduce reliance on centralized power. This emphasis on disaster preparedness and continuity of service is significantly driving microgrid investments in urban and metropolitan areas across the country, thereby driving the growth.

Bottom of Form

Do you have any questions? Would you like to request a sample or make an inquiry before purchasing this report? Simply click the link below: https://www.polarismarketresearch.com/industry-analysis/south-korea-microgrid-market/request-for-sample

The South Korean government has implemented strong policies and incentives to promote microgrid development, especially in remote and island areas. Through the “Energy Transition Roadmap” and the “Smart Grid Master Plan,” the country is prioritizing decentralized energy systems to improve energy independence and sustainability. Support from the Ministry of Trade, Industry and Energy (MOTIE) includes grants, tax benefits, and pilot projects, making it easier for public and private entities to invest in microgrid solutions. These favorable policies are driving new deployments and encouraging innovation in energy storage and smart grid integration across South Korea, thereby driving the market growth.

South Korea Microgrid Market Report Highlights

• In 2024, the CHP segment dominated with the largest share due to the country’s emphasis on energy efficiency and reducing carbon emissions
• The remote segment is expected to experience the fastest growth during the forecast period as remote systems provide a self-sufficient and resilient solution as the country works to ensure reliable power for isolated or infrastructure-limited regions.
• A few key market players are ABB, Eaton Corp., EIPGRID Inc., General Electric, Honeywell International, Hyundai Energy Solution, MTU (Rolls-Royce plc), Schneider Electric, Siemens AG, and TurnOnGreen Inc.

Polaris Market Research has segmented the South Korea microgrid market report based on power source, product, and application:

By Power Source (Revenue – USD Billion, 2020–2034)

• Natural Gas
• CHP
• Solar PV
• Diesel
• Fuel Cell
• Others

By Product (Revenue – USD Billion, 2020–2034)

• Remote
• Grid Connected
• Hybrid

By Application (Revenue – USD Billion, 2020–2034)

• Government
• Education
• Commercial
• Utility
• Defense
• Others