NORTH AMERICA MICROGRID MARKET 2022-2028

Energy, Power & Utilities | Utilities

NORTH AMERICA MICROGRID MARKET 2022-2028

Market by Utilization Type, Component, Connectivity, Industry Vertical, and Country Outlook | Forecast 2022-2028

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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

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Table of Content

1. 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    

List of Tables

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)

List of Figures

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)

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