2020 Microgrid Industry in the US to 2025 – Forecast & Opportunities
Dublin, Nov. 19, 2020 (GLOBE NEWSWIRE) — The “United States Microgrid Market By Type (Grid Connected, Remote/Island, Hybrid), By Consumption Pattern (Urban & Metropolitan, Semi-urban, and Rural/Island), By Power Source (Natural Gas, Solar PV, Diesel, Fuel Cell), By End User Industry, By Region, Forecast & Opportunities,2025” report has been added to ResearchAndMarkets.com’s offering.
The United States Microgrid Market is expected to grow at a formidable rate during the forecast period. The United States Microgrid Market is driven by the growing need to reduce total greenhouse gas emissions and use of cleaner forms of energy to meet the growing energy demands. Additionally, increasing demand for uninterrupted power supply & resilient power infrastructure is further fueling the market. Moreover, growing industrialization and supportive government initiatives & policies towards green energy are further expected to drive the market during forecast period.
The United States Microgrid Market is segmented based on type, consumption pattern, power source, end-user industry, company and region. Based on power source, the market can be categorized into natural gas, solar PV, diesel and fuel cell. The natural gas segment is expected to dominate the market on account of the increasing exploration of unconventional energy sources across the United States. Additionally, widespread adoption of natural gas as a low emission substitute to conventional sources of fuel is further fueling the growth of the segment in microgrid market. Based on end-user industry, the market can be fragmented into industrial, educational institutes, healthcare, utilities, military and others. The utilities segment is expected to witness significant growth during the forecast period. This can be ascribed to the rapid industrialization and urbanization across the country. Furthermore, increasing electricity consumption coupled with the presence of new HVAC and heavy load machinery systems in the industrial sector is anticipated to drive the growth of the segment during the forecast years.
Major players operating in the United States Microgrid Market include General Electric Company, Honeywell International …