North America Microgrid Market Size, Share, Growth Analysis, By Grid type(Alternate current microgrid, Direct current microgrid), By Power source(Natural gas, Combined heat and power) - Industry Forecast 2024-2031

North America Microgrid Market size was valued at USD 3 billion in 2021 and is poised to grow from USD 3.42 billion in 2022 to USD 9.76 billion by 2030, growing at a CAGR of 14% in the forecast period (2023-2030).

The North America Microgrid Market features a dynamic competitive landscape with several key players vying for prominence. Established energy companies such as Schneider Electric, Siemens AG, and ABB Group bring robust expertise and innovative solutions to the market. Meanwhile, emerging players like to contribute fresh perspectives and disruptive technologies. This landscape is characterized by a blend of established giants and agile newcomers, fostering healthy competition that drives innovation and advancements in microgrid technology, integration, and service offerings. As the market continues to expand, collaborations, strategic partnerships, and ongoing technological developments are poised to shape the competitive trajectory of North America's microgrid sector. 'General Electric', 'Eaton', 'ABB', 'Siemens', 'Schneider Electric', 'Honeywell', 'Caterpillar', 'Toshiba Corporation', 'Mitsubishi Electric', 'Tesla', 'S&C Electric Company', 'Advanced Microgrid Systems', 'Helia Technologies', 'Hitachi Energy Ltd', 'General Microgrids', 'Exelon Corporation', 'PowerCell Sweden', 'Sunverge Energy', 'EnSync', 'Ampard', 'Pivot Energy', 'East Coast Power', 'Microgrid Solar', 'Tabuchi Electric', 'Delta Energy Systems', 'KSTAR'

Microgrids offer enhanced resilience and reliability to local energy systems. They can operate independently or in conjunction with the main grid during disruptions, such as natural disasters or grid failures. In North America, where extreme weather events like hurricanes, wildfires, and winter storms are common, the need for reliable and resilient energy supply drives the adoption of microgrids.

Increasing Resilience and Grid Independence: One of the prominent trends in the North American microgrid market has been the growing emphasis on enhancing resilience and achieving grid independence. Microgrids are being adopted as a solution to mitigate the impacts of power outages caused by extreme weather events, natural disasters, and other disruptions. With the increasing frequency and severity of these events, businesses, communities, and critical infrastructure are turning to microgrids to ensure a reliable and stable power supply. These microgrids often incorporate renewable energy sources, energy storage systems, and advanced control technologies to manage energy distribution efficiently during both grid-connected and islanded modes.

The North America Microgrid Market is analyzed based on its regional presence, which includes U.S., Canada and Mexico. In the North America microgrid market, the United States (U.S.) stands out as the dominant region due to its extensive adoption of microgrid solutions across various industries and applications. The U.S. has exhibited a robust growth trajectory in microgrid deployment, driven by factors such as its advanced energy infrastructure, regulatory support, and a diverse range of applications including commercial, industrial, and military sectors. The U.S. government's emphasis on grid resilience and renewable energy integration has further bolstered the prominence of microgrids in the country.