North America Microgrid Market Forecast 2022-2030
Description
North America Microgrid Market Forecast 2022-2030
KEY FINDINGS
The North America microgrid market is estimated to increase with an 11.07% CAGR during the forecasted period, 2022-2030. Increasing power outages and niche applications of remote communities and military bases propel market growth.
MARKET INSIGHTS
The North America microgrid market growth evaluation includes the study of Canada and United States. As the world population increases, the need for electricity increases proportionately. However, according to the Canada Energy Regulator, in 2020, over 200,000 people in Canada are not connected to the North American electrical grid and natural gas distribution pipeline systems. Canadians also face various natural disasters, and extreme weather conditions disrupt the electricity supply, causing massive blackouts that linger for days.
Additionally, if a transmission system component fails, the entire grid may come to a complete stop. There are nearly 300 remote communities in Canada, most of which are served by diesel-powered microgrids. The federal government has worked with regional governments to offer more environmentally friendly options. Further, various projects were launched for numerous microgrid installations to include fully functional and smart residential energy systems. These large-scale projects are expected to drive the demand for microgrids in Canada.
COMPETITIVE INSIGHTS
Some key companies are Exelon Corporation, Duke Energy Corporation, etc.
Our report offerings include:
• Explore key findings of the overall market
• Strategic breakdown of market dynamics (Drivers, Restraints, Opportunities, Challenges)
• Market forecasts for a minimum of 9 years, along with 3 years of historical data for all segments, sub-segments, and regions
• Market Segmentation caters to a thorough assessment of key segments with their market estimations
• Geographical Analysis: Assessments of the mentioned regions and country-level segments with their market share
• Key analytics: Porter’s Five Forces Analysis, Vendor Landscape, Opportunity Matrix, Key Buying Criteria, etc.
• Competitive landscape is the theoretical explanation of the key companies based on factors, market share, etc.
• Company profiling: A detailed company overview, product/services offered, SCOT analysis, and recent strategic developments
KEY FINDINGS
The North America microgrid market is estimated to increase with an 11.07% CAGR during the forecasted period, 2022-2030. Increasing power outages and niche applications of remote communities and military bases propel market growth.
MARKET INSIGHTS
The North America microgrid market growth evaluation includes the study of Canada and United States. As the world population increases, the need for electricity increases proportionately. However, according to the Canada Energy Regulator, in 2020, over 200,000 people in Canada are not connected to the North American electrical grid and natural gas distribution pipeline systems. Canadians also face various natural disasters, and extreme weather conditions disrupt the electricity supply, causing massive blackouts that linger for days.
Additionally, if a transmission system component fails, the entire grid may come to a complete stop. There are nearly 300 remote communities in Canada, most of which are served by diesel-powered microgrids. The federal government has worked with regional governments to offer more environmentally friendly options. Further, various projects were launched for numerous microgrid installations to include fully functional and smart residential energy systems. These large-scale projects are expected to drive the demand for microgrids in Canada.
COMPETITIVE INSIGHTS
Some key companies are Exelon Corporation, Duke Energy Corporation, etc.
Our report offerings include:
• Explore key findings of the overall market
• Strategic breakdown of market dynamics (Drivers, Restraints, Opportunities, Challenges)
• Market forecasts for a minimum of 9 years, along with 3 years of historical data for all segments, sub-segments, and regions
• Market Segmentation caters to a thorough assessment of key segments with their market estimations
• Geographical Analysis: Assessments of the mentioned regions and country-level segments with their market share
• Key analytics: Porter’s Five Forces Analysis, Vendor Landscape, Opportunity Matrix, Key Buying Criteria, etc.
• Competitive landscape is the theoretical explanation of the key companies based on factors, market share, etc.
• Company profiling: A detailed company overview, product/services offered, SCOT analysis, and recent strategic developments
Table of Contents
125 Pages
- 1. Research Scope & Methodology
- 1.1. Study Objectives
- 1.2. Scope Of Study
- 1.3. Methodology
- 1.4. Assumptions & Limitations
- 2. Executive Summary
- 2.1. Market Size & Estimates
- 2.2. Market Overview
- 3. Market Dynamics
- 3.1. Key Drivers
- 3.1.1. Increasing Consumption Of Electricity
- 3.1.2. Rise In Clean Energy Integration
- 3.1.3. Mitigation Of Severe Weather Using Microgrids
- 3.2. Key Restraints
- 3.2.1. Expensive Maintenance & Installation Of Microgrids
- 3.2.2. Regulatory Framework Hurdles For Microgrids
- 4. Key Analytics
- 4.1. Impact Of Covid-19 On Microgrid Market
- 4.2. Key Market Trends
- 4.3. Porter’s Five Forces Analysis
- 4.3.1. Buyers Power
- 4.3.2. Suppliers Power
- 4.3.3. Substitution
- 4.3.4. New Entrants
- 4.3.5. Industry Rivalry
- 4.4. Opportunity Matrix
- 4.5. Vendor Landscape
- 4.6. Value Chain Analysis
- 4.7. Key Buying Criteria
- 4.7.1. Cost Efficiency
- 4.7.2. Product Features
- 4.7.3. End-use
- 4.8. Regulatory Framework
- 5. Market By Type
- 5.1. Grid Connected
- 5.2. Off-grid
- 6. Market By Offering
- 6.1. Hardware
- 6.1.1. Power Generators
- 6.1.2. Controllers
- 6.1.3. Energy Storage
- 6.2. Software
- 6.3. Services
- 7. Market By Consumption Pattern
- 7.1. Semi-urban
- 7.2. Urban/Metropolitan
- 7.3. Rural/Island
- 8. Market By End-user
- 8.1. Commercial & Industrial
- 8.2. Healthcare
- 8.3. Education
- 8.4. Military
- 8.5. Government & Utilities
- 8.6. Other End-users
- 9. Geographical Analysis
- 9.1. North America
- 9.1.1. Market Size & Estimates
- 9.1.2. Key Growth Enablers
- 9.1.3. Key Challenges
- 9.1.4. Key Players
- 9.1.5. Country Analysis
- 9.1.5.1. United States
- 9.1.5.2. Canada
- 10. Competitive Landscape
- 10.1. Key Strategic Developments
- 10.1.1. Mergers & Acquisitions
- 10.1.2. Product Launches & Developments
- 10.1.3. Partnerships & Agreements
- 10.1.4. Business Expansions & Divestitures
- 10.2. Company Profiles
- 10.2.1. Bloom Energy
- 10.2.2. Cummins Inc
- 10.2.3. Duke Energy Corporation
- 10.2.4. Eaton Corporation Plc
- 10.2.5. Exelon Corporation
- 10.2.6. Fairbanks Morse
- 10.2.7. Fuelcell Energy Inc
- 10.2.8. General Electric Company
- 10.2.9. Hitachi Ltd
- 10.2.10. National Grid Plc
- 10.2.11. Nrg Energy Inc
- 10.2.12. Power Engineers Incorporated
- 10.2.13. S&C Electric
- 10.2.14. Schneider Electric Se
- 10.2.15. Siemens Ag
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