Press release
North America Microgrid Market Forecasts By Major Players: GE, ABB, Schneider Electric, Alstom, Siemens, Honeywell, Caterpillar, Tesla, Virdity Energy Solutions, EnSync, Toshiba, Hitachi, Advanced Microgrid Solutions, Lockheed Martin, Exelon, Power Analyt
North America Microgrid Market
As reported in the latest study by Global Market Insights, Inc., North America Microgrid Market is predicted to reach over USD 7 billion by 2024. Aging grid infrastructure coupled with stringent government policies toward adoption of sustainable power technologies will stimulate North America microgrid market. Economic competitiveness, low power cost & transmission losses and reliability are key the parameters that will encourage the product penetration. In addition, ongoing funding toward the development of distributed generation technology will enhance the industry landscape.
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Top Key Players:
Eminent participants in the North America microgrid market include GE, ABB, Schneider Electric, Alstom, Siemens, Honeywell, Caterpillar Inc, Tesla, Virdity Energy Solutions, EnSync Inc, Toshiba, Hitachi, Advanced Microgrid Solutions, Lockheed Martin, Exelon and Power Analytics Corporation.
Market share calculation in this report is not done based on companies covered in it. The calculation of North America microgrid market share is done based on a regional approach and countries covered. On request, additional companies can be covered as well as regional data for particular country / countriess can be provided.
Regional Segmentations: -
Flow batteries accounted for over 5% of North America microgrid market in 2017. Ongoing investment pertaining to the integration of sustainable grid coupled with innovations toward the development of cost-effective and efficient storage technologies will propel the industry growth. key features including long life cycle and higher efficiency will further encourage the product adoption over available substitutes.
Canada microgrid market is predicted to reach deployment of over 400 MW capacity by 2024. Growing electricity demand across remote and off grid areas along with upsurge in investments toward the adoption of clean energy technology will complement the business growth. Furthermore, ongoing development of distributed energy sources to minimize the dependency on conventional grid will enhance the industry outlook. In 2016 Canada government made an investment of USD 2.4 billion for developing wind and solar energy sources.
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Partial Chapter of the 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
1.4.2.1. Paid sources
1.4.2.2. 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
Chapter 3. North America microgrid market Industry Insights
3.1. Industry segmentation
3.2. Industry landscape, 2013 - 2024
3.3. Industry ecosystem analysis
3.3.1. Vendor matrix
3.4. Innovation & sustainability
3.5. Regulatory landscape
3.5.1. U.S.
3.5.1.1. Energy Policy Act, 2005
3.5.1.2. California Public Utility Commission
3.5.1.3. Electronic Code of Federal Regulation
3.5.1.4. Safety & Health Regulations for Construction
3.5.1.5. DOE VTO Advanced Batter R&D Program
3.5.1.5.1. Mercury-Containing and Rechargeable Battery Management Act of 1996
3.5.2. Canada
3.5.2.1. CAN/CSA-C22.2 No. 257-06
3.5.2.2. CAN/CSA-C22.3 No. 9-08
3.6. Infrastructure/energy investments spending, 2015/2016
3.7. Renewable energy incentive in U.S. States
3.8. Energy policies considered for deployment of microgrid network, U.S.
3.9. Industry impact forces
3.9.1. Growth drivers
3.9.1.1. Renewable energy integration
3.9.1.2. Aging grid infrastructure
3.9.2. Industry pitfalls & challenges
3.9.2.1. High capital cost
3.10. Growth potential analysis
3.11. Porter's analysis
3.12. Competitive landscape
3.12.1. Strategy dashboard
3.12.1.1. ABB
3.12.1.1.1. Next Level strategy – stage 3
3.12.1.1.2. Acquisition
3.12.1.2. Siemens
3.12.1.2.1. Vision 2020
3.12.1.2.2. Investments
3.12.1.3. Schneider Electric
3.12.1.3.1. Investments
3.12.1.4. Eaton Corporation
3.12.1.4.1. Investment strategy
3.12.1.4.2. Technology expansion
3.13. PESTEL analysis
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Increasing high-end power consumption across the industries on account of development of new HVAC systems and heavy load machineries will foster the microgrid market. Growing electricity demands across hospitals, retail outlets, automotive, manufacturing operations, offices and industries will encourage product penetration across commercial and industrial application. For instance, as per EIA, the commercial and industrial sector in 2017 accounted about 4.5% and 22.4 % of the primary energy consumption respectively.
Natural gas microgrid market will grow on account of stringent government measures pertaining to the adoption of lower emission fuel as a replacement for conventional fuel sources. Ongoing investment toward exploration of unconventional fuel reserves owing to escalating gas demand will enhance the industry outlook. Amren Corporation in 2017, developed an advanced microgrid which utilizes, solar, natural gas and wind energy as a source along with an integrated battery storage and automation system.
About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
Contact Us
Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone: 1-302-846-7766
Toll Free: 1-888-689-0688
Email: sales@gminsights.com
Web: www.gminsights.com
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