North America Microgrid Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024
The North America microgrid market reached a value of US$ 8.14 Billion in 2018. 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. Looking forward, IMARC Group expects the market to reach a value of US$ 15.39 Billion by 2024, registering a CAGR of 11.2% during 2019-2024.
Report Scope:
North America Microgrid Market
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 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?
Report Coverage:
Base Year Considered: 2018
Historical Data Coverage: 2013-2018
Market Forecast: 2019-2024
Currency: US$
Geography Covered: North America, United States and Canada
Segments Covered: Energy Source and Application
Report Customization: Although IMARC has tried to cover everything in the North America microgrid market landscape, we believe that every stakeholder may have their own specific needs. In view of this, we provide up to 20-man hours of free customization for each report.
- 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 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
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