The North America microgrid market size reached US$ 13.5 Billion in 2023. Looking forward, the publisher expects the market to reach US$ 33.7 Billion by 2032, exhibiting a growth rate (CAGR) of 10.7% during 2023-2032.
A microgrid refers to a distinct energy system consisting of interconnected loads and distributed energy resources that operate parallelly, or independently from the main power grid. Similar to contemporary electrical grid, a microgrid consists of power generation system, distribution system, and controls, such as voltage regulation and switch gears. It provides power backup for the grid in case of emergencies and is cost-effective. Additionally, it performs dynamic control over energy sources by enabling autonomous and automatic self-healing operations. Some of the other benefits offered by a microgrid include enhancing reliability, reducing greenhouse gas (GHG) emissions, and lowering stress on the transmission and distribution system. As a result, it provides local, reliable, and affordable energy security for urban and rural communities as well as offer solutions for commercial, industrial and federal government consumers.
The North America microgrid market is currently being driven by several factors. The escalating demand for microgrid is based on the availability of reliable, stable and affordable power. Moreover, the usage of microgrid in defense and remote areas to enhance security against cyberattacks and threat of grid outages have also increased its demand in the region. Apart from this, several government initiatives are being implemented to provide energy-efficient power solutions. Additionally, rising environmental concerns and technological innovations will continue to spur the microgrid market growth in the coming years.
Key Regions Analysed
United States
Canada
Analysis for Each Country
Market by Energy Source
Natural Gas
Combined Heat and Power
Solar Photovoltaic (PV)
Diesel
Fuel Cell
Others
Market by Application
Remote Systems
Institution and Campus
Utility/Community
Defense
Others
Value Chain Analysis
Key Drivers and Challenges
Porters Five Forces Analysis
Competitive Landscape
Competitive Structure
What are the key regions in the North America microgrid market?
What has been the impact of COVID-19 on the North America microgrid market?
What is the breakup of the North America microgrid market on the basis of energy source?
What is the breakup of the North America microgrid market on the basis of application?
What are the various stages in the value chain of the North America microgrid industry?
What are the key driving factors and challenges in the North America microgrid industry?
What is the structure of the North America microgrid industry and who are the key players?
What is the degree of competition in the North America microgrid industry?
What are the profit margins in the North America microgrid industry?
A microgrid refers to a distinct energy system consisting of interconnected loads and distributed energy resources that operate parallelly, or independently from the main power grid. Similar to contemporary electrical grid, a microgrid consists of power generation system, distribution system, and controls, such as voltage regulation and switch gears. It provides power backup for the grid in case of emergencies and is cost-effective. Additionally, it performs dynamic control over energy sources by enabling autonomous and automatic self-healing operations. Some of the other benefits offered by a microgrid include enhancing reliability, reducing greenhouse gas (GHG) emissions, and lowering stress on the transmission and distribution system. As a result, it provides local, reliable, and affordable energy security for urban and rural communities as well as offer solutions for commercial, industrial and federal government consumers.
The North America microgrid market is currently being driven by several factors. The escalating demand for microgrid is based on the availability of reliable, stable and affordable power. Moreover, the usage of microgrid in defense and remote areas to enhance security against cyberattacks and threat of grid outages have also increased its demand in the region. Apart from this, several government initiatives are being implemented to provide energy-efficient power solutions. Additionally, rising environmental concerns and technological innovations will continue to spur the microgrid market growth in the coming years.
Key Market Segmentation:
The report provides an analysis of the key trends in each sub-segment of the North America microgrid market report, along with forecasts at the regional and country level from 2024-2032. Our report has categorized the market based on energy source and application.Key Regions Analysed
United States
Canada
Analysis for Each Country
Market by Energy Source
Natural Gas
Combined Heat and Power
Solar Photovoltaic (PV)
Diesel
Fuel Cell
Others
Market by Application
Remote Systems
Institution and Campus
Utility/Community
Defense
Others
Value Chain Analysis
Key Drivers and Challenges
Porters Five Forces Analysis
Competitive Landscape
Competitive Structure
Key Player Profiles
Key Questions Answered in This Report:
How has the North America microgrid market performed so far and how will it perform in the coming years?What are the key regions in the North America microgrid market?
What has been the impact of COVID-19 on the North America microgrid market?
What is the breakup of the North America microgrid market on the basis of energy source?
What is the breakup of the North America microgrid market on the basis of application?
What are the various stages in the value chain of the North America microgrid industry?
What are the key driving factors and challenges in the North America microgrid industry?
What is the structure of the North America microgrid industry and who are the key players?
What is the degree of competition in the North America microgrid industry?
What are the profit margins in the North America microgrid industry?
Table of Contents
1 Preface3 Executive Summary
2 Scope and Methodology
4 Introduction
5 Global Microgrid Market
6 North America Microgrid Market
7 North America Microgrid Market: Breakup by Energy Source
8 North America Microgrid Market: Breakup by Application
9 North America Microgrid Market: Breakup by Country
10 SWOT Analysis
11 Value Chain Analysis
12 Porter’s Five Forces Analysis
13 Competitive Landscape
List of Figures
List of Tables
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 123 |
| Published | July 2024 |
| Forecast Period | 2023 - 2032 |
| Estimated Market Value ( USD | $ 13.5 Billion |
| Forecasted Market Value ( USD | $ 33.7 Billion |
| Compound Annual Growth Rate | 10.7% |
| Regions Covered | North America |
