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Market Study Report adds 2018-2024 North America Microgrid market report that offers an exhaustive coverage of the industry with brief analysis, data charts, figures, statistics that help take business decisions, company profiles and more.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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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.
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.
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.
Ongoing adoption of captive power plants across the manufacturing and industrial sector for ensuring regulated power production will foster North America microgrid market. Increasing investment toward the expansion of decentralized grid coupled with rising investments for the expansion of infrastructure and power sector will accelerate the business growth. For instance, in 2016, the government of Canada, announced an investment of about USD 900 million were financed toward installation of numerous energy sources and R & D across the country.
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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.
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.
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 360 degree 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 trend
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
Chapter 4. North America Microgrid Market, By Connectivity
4.1. North America microgrid market share by connectivity, 2017 & 2024
4.2. Grid connecte
4.2.1. Market estimates and forecast, 2013-202
4.2.2. Market estimates and forecast, by country, 2013-2024
Chapter 5. North America Microgrid Market, By Grid Type
5.1. North America microgrid market share by grid type, 2017 & 2024
5.2. AC Microgrid
5.2.1. Market estimates and forecast, 2013-2024
5.2.2 Market estimates and forecast, by country, 2013-2024
5.3. DC Microgrid
5.3.1. Market estimates and forecast, 2013-2024
5.3.2. Market estimates and forecast, by country, 2013-2024
5.4. Hybrid
5.4.1. Market estimates and forecast, 2013-2024
5.4.2. Market estimates and forecast, by country, 2013-2024
Chapter 6. North America Microgrid Market, By Power Source
6.1. North America microgrid market share by power source, 2017 & 2024
6.2. Diesel generators
6.2.1. Market estimates and forecast, 2013-2024
6.2.2. Market estimates and forecast, by country, 2013-2024
6.3. Natural Gas
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Read More: https://www.marketwatch.com/press-release/district-heating-and-cooling-market-sales-price-revenue-gross-margin-and-share-2023-2018-11-29
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