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North America Microgrid Market Trends

Report ID: GMI2833
Published Date: Jun 2024
Report Format: PDF

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North America Microgrid Market Trends

Growing adoption of energy independent and secured solutions in remote or island communities, where connection to the main grid is costly or unreliable will complement the product demand. Increasing electric vehicle demand to support rapid EV charging stations, increasing electricity demand from charging fleets, and optimize charging schedules to minimize grid impacts is set to propel the market growth.

Authors: Ankit Gupta, Abhishek Chopra

Frequently Asked Questions (FAQ) :

North America microgrid industry size was worth USD 4.8 billion in 2023 and will record a 10.3% CAGR from 2024 and 2032 due to increasing grid reliability concerns.

The lithium ion device segment will reach 11.8% CAGR through 2032, propelled by the superior energy density, longer lifespan, and rapid recharge capabilities of lithium ion, essential for reliable energy storage in microgrid systems.

U.S. microgrid industry will surpass USD 9.8 billion by 2032, fueled by robust investments in grid modernization and resilience against natural disasters.

Key manufacturers operating in the North America microgrid market are ABB, Advanced Microgrid Systems, Caterpillar, Eaton, General Microgrids, General Electric, Honeywell, Helia Technologies, Hitachi Energy Ltd, S&C Electric Company, Schneider Electric, Siemens AG, Tesla, and Toshiba Corporation, among others.