Canada Microgrid Market Size & Outlook, 2023-2030
Canada microgrid market, 2018-2030 (US$M)
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Canada microgrid market highlights
- The Canada microgrid market generated a revenue of USD 3,421.3 million in 2023 and is expected to reach USD 9,391.7 million by 2030.
- The Canada market is expected to grow at a CAGR of 15.5% from 2024 to 2030.
- In terms of segment, chp was the largest revenue generating power source in 2023.
- CHP is the most lucrative power source segment registering the fastest growth during the forecast period.
Microgrid market data book summary
| Market revenue in 2023 | USD 3,421.3 million |
| Market revenue in 2030 | USD 9,391.7 million |
| Growth rate | 15.5% (CAGR from 2023 to 2030) |
| Largest segment | Chp |
| Fastest growing segment | CHP |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | CHP, Natural Gas, Solar PV, Diesel, Fuel Cell |
| Key market players worldwide | ABB Ltd, Siemens AG, GE Aerospace, Eaton Corp PLC, Exelon Corp, Honeywell International Inc, NRG Energy Inc, Spirit AeroSystems Holdings Inc Class A, Northland Power Inc, Viridien |
Other key industry trends
- In terms of revenue, Canada accounted for 4.5% of the global microgrid market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In North America, U.S. microgrid market is projected to lead the regional market in terms of revenue in 2030.
- Mexico is the fastest growing regional market in North America and is projected to reach USD 9,944.9 million by 2030.
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Microgrid Market Scope
Microgrid Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
Canada microgrid market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to microgrid market will help companies and investors design strategic landscapes.
Chp was the largest segment with a revenue share of 36.6% in 2023. Horizon Databook has segmented the Canada microgrid market based on chp, natural gas, solar pv, diesel, fuel cell covering the revenue growth of each sub-segment from 2018 to 2030.
The agriculture industry in Canada is characterized by advanced and emerging technologies related to food and agriculture owing to partnerships between the federal government, Alberta Innovates, colleges, research institutes, large companies, and small enterprises across the country.
In 2019, the Canadian Agri-food Automation and Intelligence Network (CAAIN) was launched to bring technology and agri-food companies together to create new solutions to improve competitiveness among players and drive agricultural industry growth by investing approximately USD 15 million in the same.
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Our clientele includes a mix of microgrid market companies, investment firms, advisory firms & academic institutions.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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Horizon Databook provides a detailed overview of country-level data and insights on the Canada microgrid market , including forecasts for subscribers. This country databook contains high-level insights into Canada microgrid market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Canada microgrid market size, by power source, 2018-2030 (US$M)
Canada Microgrid Market Outlook Share, 2023 & 2030 (US$M)
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