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North America AC Microgrid Market Trends

Report ID: GMI8789
Published Date: Apr 2024
Report Format: PDF

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North America AC Microgrid Market Trends

Surge in renewable energy integration with microgrid leveraging solar, wind, and other clean energy sources to enhance sustainability and reduce carbon emissions will stimulate the business landscape. Advancements in digitalization and grid-edge technologies will enable sophisticated control and optimization of these systems, thereby improving efficiency and performance. In addition, rising demand for grid-interactive microgrids that can seamlessly integrate with the larger utility grid, enabling bi-directional energy flows and providing ancillary grid services will strengthen the growth trajectory.

Authors: Ankit Gupta, Pooja Shukla

Frequently Asked Questions (FAQ) :

The market size for AC microgrid in North America reached USD 2.3 billion in 2023 and is set to witness 10.1% CAGR up to 2032, owing to growing demand for reliable and resilient power supply solutions, primarily in areas prone to grid outages.

The lithium-ion segment in the North America AC microgrid industry is set to grow at over 11.5% CAGR through 2032, on account of high energy density, fast charging capabilities, and long lifecycle.

U.S. market is anticipated to surpass USD 4.5 billion by 2032, due to increasing energy demand, aging infrastructure, and the imperative to mitigate climate change.

AlphaStruxure, Caterpillar Inc., Dynapower, Delta Electronics, Inc., Eaton Corporation, Enphase Energy, Emerson Electric Co., Enel X, General Electric Company, Ideal Power Inc, Kohler Power, Siemens AG, S&C Electric Company, Schneider Electric SE, Toshiba Corporation and Tata Power.