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North America Hybrid Microgrid Market Share

Report ID: GMI9567
Published Date: May 2024
Report Format: PDF

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North America Hybrid Microgrid Market Share

Eminent market players are heavily investing in research and development to innovate and improve the technology including advancements in energy storage solutions, comprising high-efficiency batteries, smart grid technologies, and advanced control systems. Rising collaboration with other technology providers, energy companies, and research institutions is a common strategy among key players. Furthermore, to expand their market presence and capabilities, leading companies are engaging in mergers and acquisitions.

North America Hybrid Microgrid Market Companies

Eminent players operating in the North America hybrid microgrid industry are:

ABB
Caterpillar Inc.
ENGIE
FlexGen Power Systems
General Electric
HOMER Energy
Langley Holdings
MTU Solution
Piller Power Systems
S&C Electric Company
Schneider Electric SE
Siemens AG
Stellae Energy
Yanmar Holdings Co., Ltd

Authors: Ankit Gupta, Pooja Shukla

Frequently Asked Questions (FAQ) :

The market size of North America hybrid microgrid was reached USD 608.7 million in 2023 and is expected to register 10.7% CAGR from 2024 to 2032, owing to the growing energy consumption in the region coupled with the aging electrical infrastructure.

North America hybrid microgrid industry from the grid connected segment and is likely to exceed USD 1.22 billion by 2032 due to rising demand for continuous power supply during grid outages or disruptions.

The U.S. hybrid microgrid industry is expected to cross USD 463 million by 2032 due to rising support from the government in terms of polices and incentives and various grants and subsidies supporting the financial viability of microgrid projects.

ENGIE, FlexGen Power Systems, General Electric, HOMER Energy, Langley Holdings, MTU Solution, Piller Power Systems, S&C Electric Company, Schneider Electric SE, Siemens AG, Stellae Energy, and Yanmar Holdings Co., Ltd, are some of the major hybrid microgrid companies in North America.