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.