North America Microgrid Market Analysis

North America Microgrid Market Analysis

The North America grid-connected microgrid market is slated to witness nearly 13.5% growth rate through 2030, given the rapid integration of smart grid technologies. As per data from the U.S. DOE, in 2018, investments in smart grid networks reached USD 6.4 billion, an increase from USD 3.4 billion in 2014. The implementation of the grid-connected microgrid design is further attributed to reduced transmission losses. In addition, the emphasis on effective management of load fluctuations and grid disturbances will enhance the development of grid-connected systems across the region.

The DC microgrids demand in North America is poised to record nearly 1.5-GW in capacity by 2030. A prominent reason promoting the escalating uptake of DC microgrid systems is the mounting integration of a variety of power-generating sources including diesel generators, CHP plants, and PV arrays. Moreover, these systems have a simpler control structure and higher voltage carrying capacity, among other favorable attributes, which will also drive the deployment of DC microgrid technologies.
 

North America microgrid market value from the natural gas power source is anticipated to reach around USD 2.5 billion by 2030, due to the introduction of strict government norms to ensure efficient and sustainable power generation. For example, in 2021, the U.S. Biden administration announced an executive order to leverage the scale and procurement power of the nation to tackle the climate crisis through clean energy operations.
 

The flow battery storage device segment is estimated to attain more than 15% gains through 2030, on account of the persistent introduction of research initiatives to design cost-effective storage technologies. As compared to alternatives, flow batteries exhibit higher efficiency and a longer life cycle. The strong focus on the development of affordable and energy-efficient solutions will thus proliferate the use of such power storage devices in the production of energy-efficient and economical products.
 

The healthcare application is set to surpass 255-MW in capacity by 2030. The accelerating investment in reliable, sustainable, and safe power supply for critical healthcare operations and emergencies is among the major drivers for microgrid demand. Over the years, spending on healthcare infrastructure and the construction of temporary hospitals has also surged.
 

Canada microgrid market is expected to grow at a CAGR of over 18% through 2030, impelled by the shifting preference toward clean energy networks. There has also been a strong focus on the development of reliable power supply infrastructure across the region. Furthermore, environmental concerns, emphasis on increasing grid reliability during extreme weather conditions, and rising autonomy will also amplify microgrid system demand for power generation across the country.