North America Microgrid Market Size & Outlook, 2023-2030
North America microgrid market, 2018-2030 (US$M)
Related Markets
North America microgrid market highlights
- The North America microgrid market generated a revenue of USD 27,516.7 million in 2023.
- The market is expected to grow at a CAGR of 16% 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.
- Country-wise, Mexico is expected to register the highest CAGR from 2024 to 2030.
North America data book summary
| Market revenue in 2023 | USD 27,516.7 million |
| Market revenue in 2030 | USD 77,825.0 million |
| Growth rate | 16% (CAGR from 2023 to 2030) |
| Largest segment | Chp |
| Fastest growing segment | CHP |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 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, North America region accounted for 35.8% of the global microgrid market in 2023.
- Globally, North America is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 54,605.5 million by 2030.
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Microgrid Market Scope
Microgrid Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
North America 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 37.15% in 2023. Horizon Databook has segmented the North America 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 economy of North America is highly diverse owing to the presence of leading countries such as the U.S. and Canada. The region is a key contributor to the global renewable energy market and had 1,586 TWh of renewable energy installed in 2022.
Efforts to meet rising electricity demand in the region using renewable energy sources are also expected to significantly contribute to the growth of microgrid market in North America from 2023 to 2030.
This, in turn, is anticipated to drive the growth of microgrid market in the region in the coming years. The manufacturing industry in North America is expected to benefit from the new policy reforms being carried out by governments of countries in the region in the form of incentives to encourage local manufacturing activities and promote import substitutions.
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Our clientele includes a mix of microgrid market companies, investment firms, advisory firms & academic institutions.
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30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
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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 continent-level data and insights on the North America microgrid market , including forecasts for subscribers. This continent databook contains high-level insights into North America microgrid market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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North America microgrid market size, by country, 2018-2030 (US$M)
North America Microgrid Market Outlook Share, 2023 & 2030 (US$M)
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