PUBLISHER: IMARC | PRODUCT CODE: 1347623
PUBLISHER: IMARC | PRODUCT CODE: 1347623
North America Microgrid Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028
Market Overview:
The North America microgrid market size reached US$ 12.0 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 23.6 Billion by 2028, exhibiting a growth rate (CAGR) of 11.7% during 2023-2028.
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:
IMARC Group 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 2023-2028. 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 Preface
2 Scope and Methodology
- 2.1 Objectives of the Study
- 2.2 Stakeholders
- 2.3 Data Sources
- 2.3.1 Primary Sources
- 2.3.2 Secondary Sources
- 2.4 Market Estimation
- 2.4.1 Bottom-Up Approach
- 2.4.2 Top-Down Approach
- 2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
- 4.1 Overview
- 4.2 Key Industry Trends
5 Global Microgrid Market
- 5.1 Market Performance
- 5.2 Market Breakup by Energy Source
- 5.3 Market Breakup by Application
- 5.4 Market Breakup by Region
- 5.5 Market Forecast
6 North America Microgrid Market
- 6.1 Market Performance
- 6.2 Impact of COVID-19
- 6.3 Market Forecast
7 North America Microgrid Market: Breakup by Energy Source
- 7.1 Natural Gas
- 7.2 Combined Heat and Power
- 7.3 Solar Photovoltaic (PV)
- 7.4 Diesel
- 7.5 Fuel Cell
- 7.6 Others
8 North America Microgrid Market: Breakup by Application
- 8.1 Remote Systems
- 8.2 Institution and Campus
- 8.3 Utility/Community
- 8.4 Defense
- 8.5 Others
9 North America Microgrid Market: Breakup by Country
- 9.1 United States
- 9.1.1 Historical Market Trends
- 9.1.2 Market Breakup by Energy Source
- 9.1.3 Market Breakup by Application
- 9.1.4 Market Forecast
- 9.2 Canada
- 9.2.1 Historical Market Trends
- 9.2.2 Market Breakup by Energy Source
- 9.2.3 Market Breakup by Application
- 9.2.4 Market Forecast
10 SWOT Analysis
- 10.1 Overview
- 10.2 Strengths
- 10.3 Weaknesses
- 10.4 Opportunities
- 10.5 Threats
11 Value Chain Analysis
- 11.1 Overview
- 11.2 Raw Material Suppliers
- 11.3 Sub-Components and Sub-Systems Manufacturers
- 11.4 Microgrid Manufacturers
- 11.5 Microgrid Control
- 11.6 Power Distribution
- 11.7 End-Use Industries
12 Porter's Five Forces Analysis
- 12.1 Overview
- 12.2 Bargaining Power of Buyers
- 12.3 Bargaining Power of Suppliers
- 12.4 Degree of Rivalry
- 12.5 Threat of New Entrants
- 12.6 Threat of Substitutes
13 Competitive Landscape
- 13.1 Market Structure
- 13.2 Key Players
- 13.3 Profiles of Key Players
List of Figures
- Figure 1: North America: Microgrid Market: Major Drivers and Challenges
- Figure 2: Global: Microgrid Market: Sales Value (in Billion US$), 2017-2022
- Figure 3: Global: Microgrid Market: Breakup by Energy Source (in %), 2022
- Figure 4: Global: Microgrid Market: Breakup by Application (in %), 2022
- Figure 5: Global: Microgrid Market: Breakup by Region (in %), 2022
- Figure 6: Global: Microgrid Market Forecast: Sales Value (in Billion US$), 2023-2028
- Figure 7: North America: Microgrid Market: Sales Value (in Billion US$), 2017-2022
- Figure 8: North America: Microgrid Market Forecast: Sales Value (in Billion US$), 2023-2028
- Figure 9: North America: Microgrid Market: Breakup by Energy Source (in %), 2022
- Figure 10: North America: Microgrid (Natural Gas) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 11: North America: Microgrid (Natural Gas) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 12: North America: Microgrid (Combined Heat and Power) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 13: North America: Microgrid (Combined Heat and Power) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 14: North America: Microgrid (Solar Photovoltaic) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 15: North America: Microgrid (Solar Photovoltaic) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 16: North America: Microgrid (Diesel) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 17: North America: Microgrid (Diesel) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 18: North America: Microgrid (Fuel Cell) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 19: North America: Microgrid (Fuel Cell) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 20: North America: Microgrid (Other Energy Sources) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 21: North America: Microgrid (Other Energy Sources) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 22: North America: Microgrid Market: Breakup by Application (in %), 2022
- Figure 23: North America: Microgrid (Remote Systems) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 24: North America: Microgrid (Remote Systems) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 25: North America: Microgrid (Institution and Campus) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 26: North America: Microgrid (Institution and Campus) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 27: North America: Microgrid (Utility/Community) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 28: North America: Microgrid (Utility/Community) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 29: North America: Microgrid (Defense) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 30: North America: Microgrid (Defense) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 31: North America: Microgrid (Other Applications) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 32: North America: Microgrid (Other Applications) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 33: North America: Microgrid Market: Breakup by Country (in %), 2022
- Figure 34: United States: Microgrid Market: Sales Value (in Million US$), 2017-2022
- Figure 35: United States: Microgrid Market: Breakup by Energy Source (in %), 2022
- Figure 36: United States: Microgrid Market: Breakup by Application (in %), 2022
- Figure 37: United States: Microgrid Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 38: Canada: Microgrid Market: Sales Value (in Million US$), 2017-2022
- Figure 39: Canada: Microgrid Market: Breakup by Energy Source (in %), 2022
- Figure 40: Canada: Microgrid Market: Breakup by Application (in %), 2022
- Figure 41: Canada: Microgrid Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 42: North America: Microgrid Industry: SWOT Analysis
- Figure 43: North America: Microgrid Industry: Value Chain Analysis
- Figure 44: North America: Microgrid Industry: Porter's Five Forces Analysis
List of Tables
- Table 1: North America: Microgrid Market: Key Industry Highlights, 2022 and 2028
- Table 2: North America: Microgrid Market Forecast: Breakup by Energy Source (in Million US$), 2023-2028
- Table 3: North America: Microgrid Market Forecast: Breakup by Application (in Million US$), 2023-2028
- Table 4: North America: Microgrid Market Forecast: Breakup by Country (in Million US$), 2023-2028
- Table 5: North America: Microgrid Market: Competitive Structure
- Table 6: North America: Microgrid Market: Key Players
