North America Microgrid Market to cross USD 7 billion by 2024 - PowerPoint PPT Presentation

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North America Microgrid Market to cross USD 7 billion by 2024


Request Sample of Report @ Grid connected microgrid market size is set to grow on account of effective management of grid disturbances and faster recovery & response time to load fluctuations. In addition, integration of smart grid technologies coupled with reduced transmission losses will stimulate the business growth. – PowerPoint PPT presentation

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Title: North America Microgrid Market to cross USD 7 billion by 2024

North America Microgrid Market to cross USD 7
billion by 2024 Global Market Insights Inc.
Fuel Cell Market size worth 25.5bn by 2024
Key Insights from North America Microgrid Market
  • North America Microgrid Market was worth over USD
    2 billion in 2017 and will exceed USD 7 billion
    by 2024, as reported in the latest study by
    Global Market Insights, Inc. Favorable government
    policies pertaining to integration of sustainable
    energy technology along with aging grid
    infrastructure will foster the North America
    microgrid market. Relatively low power cost,
    reliability, economic competitiveness and reduced
    transmission losses are some of the underlined
    parameters which will encourage the product
    adoption. In addition, increasing investments
    toward the expansion of distributed generation
    technologies will further complement the industry
  • Canada microgrid market is set to exceed
    installation of 400 MW by 2024. Increasing
    investments toward sustainable energy sources
    along with accelerating power demand from
    off-grid and remote areas will encourage the
    technology adoption. In addition, the growing
    development of renewable energy sources to reduce
    the dependence on conventional grid network will
    positively impact the business growth.

  • Increasing penetration of captive power plants to
    provide regulated power supply across the
    industrial and manufacturing sector will expand
    the North America microgrid market size. In
    addition, the upsurge in investments toward the
    development of decentralized grid along with
    growing investment opportunities toward
    infrastructure and energy sector will further
    propel the industry growth. According to the
    Government of Canada, in 2016, around USD 900
    million were invested toward research,
    development and deployment of various energy
    sources across the nation.
  • Increasing spending toward the exploration of
    unconventional reserves on account of growing gas
    demand across the region will propel the natural
    gas microgrid market. Favorable government
    initiatives and policies toward the development
    of low emission fuel as a substitute to
    conventional fuel sources will stimulate the
    industry growth. For instance, in 2017, Amren
    Corporation announced the completion of
    technologically advanced microgrid network which
    uses wind, solar and natural gas as a power
    source with advanced automation and battery
    storage system.

U.S. Microgrid Market Size, By Storage Device,
2017 2024 (USD Million)


Browse Full Market Research Report On North
America Microgrid Market _at_ https//
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  • Extensive electricity requirement for
    manufacturing operations, industries, offices,
    retail outlets, automotive and hospitals will
    complement the microgrid market across
    industries/commercial applications. In addition,
    escalating high end power consumption on account
    of the presence of new heavy load machinery and
    HVAC systems will complement the business
    outlook. According to EIA in 2017, the industrial
    and commercial sector consumed 22.4 and 4.5 of
    the primary energy respectively.
  • Flow battery in 2017, accounted for over 5 of
    the North America microgrid market share. Rapid
    technological advancement toward the development
    of efficient and cost-effective storage systems
    coupled with growing investments toward the
    integration of renewable grid infrastructure will
    positively influence the product demand. High
    efficiency and longer life cycles are some of the
    key features which will make its adoption
    preferable over other alternatives.

Industry Coverage

  • Schneider Electric
  • GE Alstom
  • ABB
  • Siemens
  • Caterpillar
  • Honeywell
  • Tesla
  • EnSync
  • Virdity Energy Solutions

Table OF Content
Chapter 1. Methodology and Scope 1.1.
Methodology 1.2. Market definitions 1.3. Market
estimates forecast parameters 1.4. Data
Sources 1.4.1. Primary 1.4.2.
Secondary Paid sources Public
sources Chapter 2. Executive Summary 2.1. North
America microgrid industry 3600 synopsis, 2013 -
2024 2.1.1. Business trends 2.1.2.
Connectivity trends 2.1.3. Grid type
trends 2.1.4. Power Source trends 2.1.5.
Storage trends 2.1.6. Application trends 2.1.7.
Country trends
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