U.S. Microgrid Market Size & Outlook, 2023-2030
U.S. microgrid market, 2018-2030 (US$M)
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U.S. microgrid market highlights
- The U.S. microgrid market generated a revenue of USD 21,154.0 million in 2023 and is expected to reach USD 58,488.6 million by 2030.
- The U.S. market is expected to grow at a CAGR of 15.6% 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 21,154.0 million |
| Market revenue in 2030 | USD 58,488.6 million |
| Growth rate | 15.6% (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, U.S. accounted for 27.5% 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 |
|---|
U.S. 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 37.34% in 2023. Horizon Databook has segmented the U.S. 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 agricultural industry in the U.S. has witnessed rapid developments owing to advancements in sensors, devices & machines used in the industry, information technology, etc. The daily agricultural routine in the country includes the usage of robots, temperature & moisture control systems, aerial imagery, global positioning system (GPS), etc.
The utilization of robotics for farming enables highly reliable quality monitoring and management of natural resources, such as air and water. In addition, it provides increased control to agriculturists over plant and animal production, along with ensuring high-quality processing, distribution, and storage of these products.
This leads to surged efficiencies of farming, lowered prices, safe growing conditions, and reduced environmental & ecological impact. The aforementioned technologies require a continuous supply of electricity to operate efficiently and adequately without any disruption in their processes.
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Target buyers of U.S. microgrid market databook
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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 country-level data and insights on the U.S. microgrid market , including forecasts for subscribers. This country databook contains high-level insights into U.S. microgrid market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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U.S. microgrid market size, by power source, 2018-2030 (US$M)
U.S. Microgrid Market Outlook Share, 2023 & 2030 (US$M)
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