Market Analysis and Insights: North America Microgrid Market
The North America microgrid market size is valued at USD 8.5 billion in 2019 and will reach at USD 18.79 billion by 2027 at a CAGR of 12% in the forecast period of 2020 to 2027. Data Bridge Market Research report on North America microgrid market provides analysis and insights regarding the various driving factors expected to be prevalent throughout the forecasted period while providing their impacts on the market’s growth.
Microgrid are one of the distributed energy resource solutions that are part of transformation occurring in power sector. It is also called as group of interconnected loads and distributed energy resources within electrical boundaries. The microgrid is reliable which supply continuous power to the industries or the place where microgrid is installed which will tackle the problem of power blackouts during natural calamities or any emergency situation.
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The rising demand for the clean energy globally is the driving factor for microgrid market as it uses a wide range of green power production technologies such as hybrid systems, combustion turbines and wind systems. The most important restraining factor for the microgrid market is its installation cost. The initial cost involved in the installation as well as in maintenance of microgrid is very high as compare to traditional microgrid. The cost of modern microgrid is high as they can store, convert and recycle energy.
The most important challenge in microgrid is that the technical issues faced as microgrid uses more than one source of electricity generation. The commercial and industrial facilities are more sensitive to power outages rather than private spaces which will be a substantial loss and hence to avoid these types of outages and losses, microgrids are installed.
This North America microgrid market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on Data Bridge Market Research North America microgrid market contact us for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
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North America Microgrid Market Scope and Market Size
The market for the microgrid is fragmented into its type, connectivity, offering, power source and vertical. The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
• Depending on the type, the microgrid market is segregated into AC, DC and hybrid type.
• On the basis of connectivity, the microgrid market is divided in to grid and remote.
• According to offering, the microgrid market is segmented in hardware, software and services.
• Depending on power source, the microgrid market is divided into natural gas, diesel and solar furl cells.
• According to the vertical, the microgrid market is segmented into healthcare, educational institutes and military.
North America Microgrid Market Country Level Analysis
North America microgrid market is analysed and market size, volume information is provided by country, type, connectivity, offering, power source and vertical as referenced above.
The countries covered in the market report are U.S., Canada, and Mexico in North America.
North America will dominate the microgrid market owing to rising adoption of new technologies in power sector which will help them to avoid the power outages. The U.S. government will also fuel the market as they have framed new regulations in their power sector.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
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Competitive Landscape and North America Market Share Analysis
North America microgrid market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, regional presence, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to North America microgrid market.
The major players covered in the North America microgrid market report are
• General Electric
• Advanced Microgrid Solutions
• Eaton Corporation
• Schneider Electric
• Caterpillar
• ABB
• EnSync.
• Lockheed Martin Corporation
• Power Analytics Corporation
• Toshiba Corporation
• Viridity Energy Solutions & Tesla
• LO3 Energy
• HOMER Energy LLC
• CleanSpark
• PowerSecure International
• Primus Power
• Powin Inc.
• NICIRA
among some global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
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