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North America Microgrid Market Forecast 2027 Application (Healthcare, Educational Institutes, Military, Utility, Industrial/Commercial, Remote), By Connectivity (Grid Connected, Off Grid), By Grid Type (AC Microgrid, DC Microgrid, Hybrid), By Source (Diesel Generators, Natural Gas, Solar PV, CHP), By Storage Device (Lithium-Ion, Lead Acid, Flow Batteries, Flywheel), Research Report, Country Outlook (U.S., Canada, Mexico), COVID-19 Impact Statistics, Price Trends, Historic Data, Growth Prospects, Competitive Industry Share
Published Date: June 2021 | Publisher: Graphical Research Report ID: GR1866 | Delivery : PDF  Request Free Sample

North America Microgrid Market size is set to observe over 25% growth rate between 2021 and 2027, attributed to increasing consumer awareness toward clean energy resources and growing demand for secure and reliable power supply. Surging adoption of distributed energy resources along with rapid expansion of smart electric networks will propel the market landscape. Growing integration of upgraded technologies in the power application with an aim to evade power outages is set to stimulate the product installation.

North America Market, By Connectivity

Development of Tier-II and III cities coupled with increasing consumer inclination toward security of electricity supply will augment the grid connected microgrids demand in North America. Integration of a sustainable electric infrastructure along with the expanding industrial and commercial sector will favor the market expansion. These units offer capability to cater peak demand and enhances supply & stability of the systems during grid failure, which in turn will escalate the product deployment.

North America Market, By Grid Type

AC microgrid market dominate substantial revenue share till 2027 on account of ongoing investments in refurbishment of existing electrical network and shifting inclination toward innovative energy storage systems. The product offers key advantages including reduced transmission losses, effective high voltage level and nominal heat generation. Escalating deployment of high voltage AC electrical infrastructure coupled with installation of wind and solar farms connected energize the market growth dynamic.

North America Market, By Source

Policy transitions toward the integration of efficient and sustainable power generation sources will fuel the natural gas-powered microgrids demand. Large scale integration of renewable energy sources owing to reduced carbon emission and favorable government incentives will positively impact the industry outlook. Moreover, surging regulatory focus toward decommissioning of coal-based plants to limit the carbon footprints will drive the market revenue.

North America Market, By Storage Device

Increasing applicability across transportation, UPS, and similar deployments coupled with lower life cycle costs will boost the flywheel based microgrid market size. The system delivers key benefits including reduced maintenance costs and nominal replacement requirements, stimulating the business outlook. Wide scale utilization of product across variety of applications including mission-critical functions across cities, military bases, universities, and commercial & industrial sites is set to impel the product adoption.

North America Market, By Country

U.S. microgrid market is anticipated to experience significant growth during the forecast period owing to regulatory incentives, high utility prices, and vulnerability to grid outages. The soaring resilience underpins the state level initiatives and programs supporting microgrid adoption will amplify the industry landscape. Favorable government incentives, including feed-in tariffs and similar reforms, drives the demand for grid-integrated renewable establishments, propelling the technological adoption.

Competitive Industry Landscape

Eminent industry players include Siemens, Schneider Electric, Caterpillar, General Electric, Eaton, Tesla, Homer Energy, S&C Electric, General Microgrids and Spirae.
 

Frequently Asked Question(FAQ) :

The industry size for microgrid in North America is projected to record a 25% CAGR up to 2027 led by the demand for reliable and secure power supply and increased consumer awareness towards clean energy.
Rapid development of Tier-II and Tier-III cities in North America could lead to widespread deployment of grid connected microgrid infrastructure.
The market for AC microgrid in North America looks promising as the need for sustainable power generation and storage drives new investments in refurbishment of existing power infrastructure.
High utility price, vulnerability to grid outages, and supportive regulator incentives make the U.S. a highly lucrative market for efficient microgrid technology.

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