Market Research Report
United States Microgrid Market By Type, By Consumption Pattern, By Power Source, By End User Industry, By Region, Forecast & Opportunities, 2025
|Published by||TechSci Research||Product code||938780|
|Published||Content info||79 Pages
Delivery time: Inquiry
|United States Microgrid Market By Type, By Consumption Pattern, By Power Source, By End User Industry, By Region, Forecast & Opportunities, 2025|
|Published: May 1, 2020||Content info: 79 Pages||
United States microgrid market is expected to grow at a formidable rate during the forecast period. The United States microgrid market is driven by the growing need to reduce total greenhouse gas emissions and use of cleaner forms of energy to meet the growing energy demands. Additionally, increasing demand for uninterrupted power supply & resilient power infrastructure is further fueling the market. Moreover, growing industrialization and supportive government initiatives & policies towards green energy are further expected to drive the market during forecast period.
The United States microgrid market is segmented based on type, consumption pattern, power source, end user industry, company and region. Based on power source, the market can be categorized into natural gas, solar PV, diesel and fuel cell. The natural gas segment is expected to dominate the market on account of the increasing exploration of unconventional energy sources across the United States. Additionally, widespread adoption of natural gas as a low emission substitute to conventional sources of fuel is further fueling the growth of the segment in microgrid market. Based on end user industry, the market can be fragmented into industrial, educational institutes, healthcare, utilities, military and others. The utilities segment is expected to witness significant growth during the forecast period. This can be ascribed to the rapid industrialization and urbanization across the country. Furthermore, increasing electricity consumption coupled with the presence of new HVAC and heavy load machinery systems in the industrial sector is anticipated to drive the growth of segment during the forecast years.
Major players operating in the United States microgrid market include General Electric Company, Honeywell International Inc., S&C Electric Company, Exelon Corporation, Homer Energy LLC (AWS Truepower, LLC), Power Analytics Corp (Causam Energy, Inc.), Eaton Corporation Inc, ABB Ltd., Siemens, Schneider Electric IT USA, Inc. and others. The companies are developing advanced technologies and launching new services in order to stay competitive in the market. Other competitive strategies include mergers & acquisitions and new service developments. For instance, in March 2018, GE launched the GE Reservoir - a comprehensive energy storage platform. It delivers a suite of customized storage solutions to help customers address new challenges and seek new opportunities in a rapidly transforming power grid.
Years considered for this report:
Historical Years: 2015-2018
Base Year: 2019
Estimated Year: 2020
Forecast Period: 2021-2025
Objective of the Study:
TechSci Research performed both primary as well as exhaustive secondary research for this study. Initially, TechSci Research sourced a list of manufacturers across the country. Subsequently, TechSci Research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, TechSci Research could include the manufacturers which could not be identified due to the limitations of secondary research. TechSci Research analyzed the manufacturers, distribution channels and presence of all major players across the country.
TechSci Research calculated the market size of United States microgrid market using a bottom-up approach, wherein data for various end-user segments was recorded and forecast for the future years. TechSci Research sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these product types and applications for getting an appropriate, overall market size. Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied by TechSci Research.
Key Target Audience:
The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as manufacturers, suppliers, partners, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.
In this report, United States microgrid market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Urban & Metropolitan
Company Profiles: Detailed analysis of the major companies present in United States microgrid market.
With the given market data, TechSci Research offers customizations according to a company's specific needs. The following customization options are available for the report: