Market by Utilization Type, Component, Connectivity, Industry Vertical, and Country Outlook | Forecast 2022-2028
According to Triton’s research report, the microgrid market in North America is estimated to witness growth at a CAGR of 10.72% during the forecasting years 2022-2028.
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The
countries examined in the region consist of:
•
The United States
•
Canada
The
United States holds the highest number of shares in the microgrid market. The demand for microgrids in the region has
grown considerably owing to rising power outages. Moreover, the surge in niche
applications intended for military bases and remote communities is expected to
augment the deployment of microgrids. Microgrids’ surged resilience supports
various state-level programs, fueling their adoption across the region. Thus,
these factors are expected to fuel the microgrid market’s development.
In the United States, a recent wave of projects
and state-level resiliency plans have enabled the development and
standardization of microgrid technologies. During the forecast period, the
adoption of microgrids is anticipated to soar due to significant regulatory
advancements to utility franchise rights and rate structures. Further, flexible
microgrid solutions have become integral to renewable integration strategies in
states like California as solar PV adoption rates soar. Thus, as stated above,
these factors are anticipated to drive the microgrid market’s growth.
With the rising population base, the need for
electricity has surged in Canada. Since the nation faces extreme weather
conditions, it can cause disruptions in the electricity supply, causing massive
blackouts. This may also result in the entire grid stopping functioning. Hence,
microgrid emerges as an eco-friendly and viable option for efficient power
supply, creating opportunities for the Canadian market.
Island microgrids function independently from
the utility grid. In this scenario, renewable energy sources like wind and
solar are the most cost-effective and sustainable DER solutions for operators.
Several microgrid operators are considering battery energy storage alternatives
to conventional backup generators, making island grids a viable option. The market’s growth is determined in terms
of connectivity, industrial vertical, utilization type, and component. The
connectivity segment includes island grid and grid connected.
The
companies in the market comprise Bloom Energy, Fairbanks Morse, S&C
Electric Company, Siemens AG, Cummins Inc, and National Grid Plc.
Bloom Energy manufactures and distributes
solid-oxide fuel cell systems for on-site power generation. It has a stationary
energy generation platform that employs an electrochemical technique instead of
combustion to transform natural gas into electricity. It serves various
industries, including banking and financial services, cloud and data centers,
healthcare, government, and others. Founded in 2001, Bloom Energy is
headquartered in California, the US.
Key deliverables of the report:
● Market CAGR during the forecasting years 2022-2028
● Detailed data highlighting key insights, industry components, and market strategies
● Comprehensive information and estimation of the microgrid market revenue growth in North America and its influence on the parent market
● In-depth study of forthcoming trends in consumer behavioral patterns
● A meticulous analysis of the competitive landscape, vendor scorecard, and Porter’s Five Forces
●
A wide-ranging study of factors that will challenge the NA
microgrid market’s growth during the upcoming years
Want to get specific insights? Our team of
analysts can customize this report based on your preferences. Connect with us here.
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VIEW REPORT1. NORTH
AMERICA MICROGRID MARKET - SUMMARY
2. INDUSTRY
OUTLOOK
2.1. IMPACT
OF COVID-19 ON THE MICROGRID MARKET
2.2. KEY
INSIGHTS
2.2.1. GROWING
USE OF MICROGRIDS IN SOLAR ENERGY
2.2.2. INCREASE
IN SMART CITIES INITIATIVES
2.3. PORTER’S
FIVE FORCES ANALYSIS
2.3.1. THREAT
OF NEW ENTRANTS
2.3.2. THREAT
OF SUBSTITUTES
2.3.3. BARGAINING
POWER OF BUYERS
2.3.4. BARGAINING
POWER OF SUPPLIERS
2.3.5. THREAT
OF COMPETITIVE RIVALRY
2.4. MARKET
ATTRACTIVENESS INDEX
2.5. VENDOR
SCORECARD
2.6. KEY
MARKET STRATEGIES
2.6.1. PRODUCT
LAUNCHES
2.6.2. COLLABORATIONS
2.6.3. BUSINESS
DIVESTITURES
2.6.4. ACQUISITIONS
2.7. MARKET
DRIVERS
2.7.1. COMBATING
POWER OUTAGES DURING SEVERE WEATHER USING MICROGRIDS
2.7.2. GROWING
ELECTRICITY CONSUMPTION WORLDWIDE
2.8. MARKET
CHALLENGES
2.8.1. HURDLES
POSED BY REGULATORY FRAMEWORK
2.8.2. HIGH
MAINTENANCE AND INSTALLATION OF MICROGRIDS
2.9. MARKET
OPPORTUNITIES
2.9.1. RISING
USE OF INTERNET OF THINGS (IoT) IN MICROGRIDS
2.9.2. RISE
IN CLEAN ENERGY INTEGRATION BY GOVERNMENT AND PRIVATE SECTOR
3. NORTH
AMERICA MICROGRID MARKET OUTLOOK - BY UTILIZATION TYPE
3.1. METROPOLITAN
3.2. SEMI-URBAN
3.3. RURAL
4. NORTH
AMERICA MICROGRID MARKET OUTLOOK - BY COMPONENT
4.1. HARDWARE
4.1.1. POWER
GENERATORS
4.1.2. ENERGY
STORAGE
4.1.3. CONTROLLERS
4.2. SOFTWARE
4.3. SERVICES
5. NORTH
AMERICA MICROGRID MARKET OUTLOOK - BY CONNECTIVITY
5.1. GRID
CONNECTED
5.2. ISLAND
GRID
6. NORTH
AMERICA MICROGRID MARKET OUTLOOK - BY INDUSTRY VERTICAL
6.1. COMMERCIAL
& INDUSTRIAL
6.2. HEALTHCARE
6.3. EDUCATIONAL
INSTITUTIONS
6.4. MILITARY
& DEFENSE
6.5. GOVERNMENT
& UTILITIES
6.6. OTHER
INDUSTRY VERTICALS
7. NORTH
AMERICA MICROGRID MARKET – COUNTRY OUTLOOK
7.1. UNITED
STATES
7.2. CANADA
8. COMPETITIVE
LANDSCAPE
8.1. HITACHI
LTD
8.2. SCHNEIDER
ELECTRIC
8.3. DUKE
ENERGY CORPORATION
8.4. EXELON
CORPORATION
8.5. SIEMENS
AG
8.6. FAIRBANKS
MORSE
8.7. NATIONAL
GRID PLC
8.8. S&C
ELECTRIC COMPANY
8.9. BLOOM
ENERGY
8.10. CUMMINS
INC
8.11. FUELCELL
ENERGY INC
8.12. GENERAL
ELECTRIC COMPANY
8.13. POWER
ENGINEERS INCORPORATED
8.14. NRG
ENERGY INC
8.15. EATON
CORPORATION PLC
9. RESEARCH
METHODOLOGY & SCOPE
9.1. RESEARCH
SCOPE & DELIVERABLES
9.2. SOURCES
OF DATA
9.3. RESEARCH
METHODOLOGY
TABLE 1: NORTH AMERICA MICROGRID
MARKET, BY COUNTRY OUTLOOK, 2022-2028 (IN $ MILLION)
TABLE 2: VENDOR SCORECARD
TABLE 3: LIST OF PRODUCT
LAUNCHES
TABLE 4: LIST OF
COLLABORATIONS
TABLE 5: LIST OF BUSINESS
DIVESTITURES
TABLE 6: LIST OF ACQUISITIONS
TABLE 7: NORTH AMERICA
MICROGRID MARKET, BY UTILIZATION TYPE, 2022-2028 (IN $ MILLION)
TABLE 8: NORTH AMERICA
MICROGRID MARKET, BY COMPONENT, 2022-2028 (IN $ MILLION)
TABLE 9: NORTH AMERICA
MICROGRID MARKET, BY HARDWARE, 2022-2028 (IN $ MILLION)
TABLE 10: NORTH AMERICA
MICROGRID MARKET, BY CONNECTIVITY, 2022-2028 (IN $ MILLION)
TABLE 11: NORTH AMERICA
MICROGRID MARKET, BY INDUSTRY VERTICAL, 2022-2028 (IN $ MILLION)
TABLE 12: NORTH
AMERICA MICROGRID MARKET, BY COUNTRY OUTLOOK, 2022-2028 (IN $ MILLION)
FIGURE
1: RENEWABLE ELECTRICITY GENERATION, BY SOURCE, IN 2018-2020
FIGURE
2: MARKET ATTRACTIVENESS INDEX
FIGURE
3: NORTH AMERICA MICROGRID MARKET, BY UTILIZATION TYPE, 2021 & 2028 (IN %)
FIGURE
4: NORTH AMERICA MICROGRID MARKET, BY METROPOLITAN, 2022-2028 (IN $ MILLION)
FIGURE
5: NORTH AMERICA MICROGRID MARKET, BY SEMI-URBAN, 2022-2028 (IN $ MILLION)
FIGURE
6: NORTH AMERICA MICROGRID MARKET, BY RURAL, 2022-2028 (IN $ MILLION)
FIGURE
7: NORTH AMERICA MICROGRID MARKET, BY COMPONENT, 2021 & 2028 (IN %)
FIGURE
8: NORTH AMERICA MICROGRID MARKET, BY HARDWARE, 2022-2028 (IN $ MILLION)
FIGURE
9: NORTH AMERICA MICROGRID MARKET, BY HARDWARE, 2021 & 2028 (IN %)
FIGURE
10: NORTH AMERICA MICROGRID MARKET, BY POWER GENERATORS, 2022-2028 (IN $
MILLION)
FIGURE
11: NORTH AMERICA MICROGRID MARKET, BY ENERGY STORAGE, 2022-2028 (IN $ MILLION)
FIGURE
12: NORTH AMERICA MICROGRID MARKET, BY CONTROLLERS, 2022-2028 (IN $ MILLION)
FIGURE
13: NORTH AMERICA MICROGRID MARKET, BY SOFTWARE, 2022-2028 (IN $ MILLION)
FIGURE
14: NORTH AMERICA MICROGRID MARKET, BY SERVICES, 2022-2028 (IN $ MILLION)
FIGURE
15: NORTH AMERICA MICROGRID MARKET, BY CONNECTIVITY, 2021 & 2028 (IN %)
FIGURE
16: NORTH AMERICA MICROGRID MARKET, BY GRID CONNECTED, 2022-2028 (IN $ MILLION)
FIGURE
17: NORTH AMERICA MICROGRID MARKET, BY ISLAND GRID, 2022-2028 (IN $ MILLION)
FIGURE
18: NORTH AMERICA MICROGRID MARKET, BY INDUSTRY VERTICAL, 2021 & 2028 (IN
%)
FIGURE
19: NORTH AMERICA MICROGRID MARKET, BY COMMERCIAL & INDUSTRIAL, 2022-2028
(IN $ MILLION)
FIGURE
20: NORTH AMERICA MICROGRID MARKET, BY HEALTHCARE, 2022-2028 (IN $ MILLION)
FIGURE
21: NORTH AMERICA MICROGRID MARKET, BY EDUCATIONAL INSTITUTIONS, 2022-2028 (IN
$ MILLION)
FIGURE
22: NORTH AMERICA MICROGRID MARKET, BY MILITARY & DEFENSE, 2022-2028 (IN $
MILLION)
FIGURE
23: NORTH AMERICA MICROGRID MARKET, BY GOVERNMENT & UTILITIES, 2022-2028
(IN $ MILLION)
FIGURE
24: NORTH AMERICA MICROGRID MARKET, BY OTHER INDUSTRY VERTICALS, 2022-2028 (IN
$ MILLION)
FIGURE
25: NORTH AMERICA MICROGRID MARKET, BY COUNTRY OUTLOOK, 2021 & 2028 (IN %)
FIGURE
26: UNITED STATES MICROGRID MARKET 2022-2028 (IN $ MILLION)
FIGURE
27: CANADA MICROGRID MARKET 2022-2028 (IN $ MILLION)