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Global Microgrid Control Systems Market 2021 Segmented by Application and Geography Trends, Growth and Forecasts

Microgrid Control Systems

The report focuses on the favorable Global “Microgrid Control Systems market” and its expanding nature. The Microgrid Control Systems market report provides a comprehensive study of the market segmentation, service providers, stockholders, sponsors, and important market players, size, and share, market dynamics such as the growth drivers, restraints, challenges, and opportunities.

Market Overview:

  • The microgrid control systems market was valued at USD 23.5 billion in 2018, and is expected to reach a market value of USD 41.7 billion by 2024, registering a CAGR of 12.25% during the forecast period (2019-2024). Continuous improvements in control and energy management are expected to positively impact the market growth. Price depreciation in both distributed renewable power and battery technologies, along with the technological advancements in energy management systems, has created more efficient renewable grid networks, along with advanced smart grid technologies.
  • – With microgrids now being deployed in many areas and integrated with new technologies, such as fuel cell, there is a need for efficient and reliable control systems that can handle the complexity of these new systems.
  • – Thus, the need for effective and centralized microgrid controllers is increasing. Due to their long-distance lines, traditional grids are deemed to be highly inefficient.
  • – Also, microgrids are highly efficient. With the increasing fuel and energy costs, the need for efficient systems is growing, which, in turn, is favoring the rate of adoption of microgrid systems.
  • – However, higher implementation costs can hinder the growth of the market. With these systems being relatively new, there is also a constant requirement for maintenance, and hence, the need for skilled labor to address technical issues. These factors are standing as roadblocks for the market growth.

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    Key Manufacturers

  • ABB Group
  • Siemens AG
  • Hitachi, Ltd
  • Eaton Corporation PLC
  • Princeton Power Systems
  • General Electric Corporation
  • Pareto Energy, Ltd
  • Honeywell International, Inc.
  • Northern Power Systems Corporation
  • Exelon Corporation

    Market Dynamics: –

    • Drivers: (Developing regions and growing markets)
    • Limitations: (Regional, Key Player facing Issues, Future Barriers for growth)
    • Opportunities: (Regional, Growth Rate, Competitive, Consumption)

    Microgrid Control Systems market report focuses on the latest trends in the global and regional spaces on all the significant components, including the capacity, cost, price, technology, supplies, production, profit, and competition. Moreover, the old data and present development of the Microgrid Control Systems market have been given in the scope of the report. The latest trends, product portfolio, demographics, geographical segmentation, and regulatory framework of the Microgrid Control Systems market have also been involved in the study.

    Scope of the Report:

  • A microgrid is an integrated energy system with local distributed energy resources (DERs), such as local loads, generating assets, and possibly energy storage devices, such as batteries or fuel-cells. A microgrid system is typically capable of operating in “islanded” (off-the grid) or grid-connected mode.

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    TOC of Microgrid Control Systems Market Report Covered:

    Introduction, Research Methodology, Executive Summary, Key Inferences, Market Overview, Microgrid Control Systems market Dynamics, Market Segmentation, Competitive Landscape, Key Players, Future of the Market, and continued…

    Reasons to Purchase Microgrid Control Systems Market Report Covered:

    • The report analyses how Microgrid Control Systems market will grow in the future.
    • Analyzing various perspectives of the Microgrid Control Systems market with the help of Porter’s five forces analysis.
    • Study on the product type that is expected to dominate the market and regions that are expected to witness the fastest growth during the forecast period
    • Recognize the new developments, Microgrid Control Systems market shares and policies employed by the major market players.
    • Competitive landscape including the Microgrid Control Systems market share of major players along with the key policies accepted for development in the past five years
    • Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis and strategies employed by the major Microgrid Control Systems market players

    Key Market Trends:

    Grid-connected Segment Accounts for a Significant Share in the Market

    – Grid-connected or grid-tied is a completely connected grid network, installed to provide energy in accordance with the requirements of the corresponding end user. The distinct benefit of being a cost-effective solution, among the available micro-grid solutions, has prompted a majority of house owners and small-sized enterprises to prefer the grid-connected microgrid systems to cater to their respective power requirements.
    – The presence of large-scale grid-tied microgrid networks in university campuses and military and defense industry has led to an increased rate of adoption of control systems in the market.
    – The upcoming developments toward the evolution of a connected environment have led to large-scale investment by manufacturers establishing a private network of power, in case of a breakdown in regular sources.
    – The Asia-Pacific region is witnessing increased developmental activities regarding grid-connected technology with countries, such as Singapore and investing in installing grid-connected for efficient energy management.

    The Occupies the Largest Market share

    – The rise of renewable energy and distributed generation systems is expected to drive the market over the forecast period.
    – The traditional grid market is under increasing pressure. At the same time, its aging infrastructure requires major overhauls and the US EPA (Environmental Policy Agency) has imposed unprecedented greenhouse gas regulation, which is further driving the market for the integrated renewable energy microgrid control systems.
    – The rising governmental support in the form of funding and state-level resiliency programs has increased the demand from institutions or campus applications, making it a key driver for the US market growth.
    – The drop in energy storage prices is expected to lower the cost of integrating renewable energy. This factor is also expected to drive the rate of adoption of microgrids in larger communities and commercial and industrial sectors.

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    Study objectives of Microgrid Control Systems Market Report:

    • To provide a detailed analysis of the market structure along with the Microgrid Control Systems market forecast of various segments and sub-segments of the Microgrid Control Systems market
    • To provide insights into factors influencing and affecting market growth
    • To provide historical, current, and forecast revenue of market segments based on material, type, design, and end user
    • To provide historical, current, and forecast revenue of market segments and sub-segments with respect to regional markets and key countries
    • To provide strategic profiling of key players in the market, comprehensively analyzing their market shares, core competencies, and drawing a competitive landscape for the market
    • To provide economic factors, technology and Microgrid Control Systems market trends that influence the global Microgrid Control Systems market

    Detailed TOC of Microgrid Control Systems Market Report 2019-2024:

    1 INTRODUCTION
    1.1 Study Deliverables
    1.2 Study Assumptions
    1.3 Scope of the Study

    2 RESEARCH METHODOLOGY

    3 EXECUTIVE SUMMARY

    4 MARKET DYNAMICS
    4.1 Market Overview
    4.2 Introduction to Market Drivers and Restraints
    4.3 Market Drivers
    4.3.1 Increasing Demand for Backup Solutions (For Support, In Case Of Emergency Blackouts)
    4.3.2 Growing Need to Improve Operational Efficiency
    4.4 Market Restraints
    4.4.1 High Implementation Costs and Operational and Technical Issues
    4.5 Value Chain Analysis
    4.6 Industry Attractiveness – Porter’s Five Force Analysis
    4.6.1 Threat of New Entrants
    4.6.2 Bargaining Power of Buyers/Consumers
    4.6.3 Bargaining Power of Suppliers
    4.6.4 Threat of Substitute Products
    4.6.5 Intensity of Competitive Rivalry

    5 MARKET SEGMENTATION
    5.1 By Type
    5.1.1 Grid-connected
    5.1.2 Off-Grid
    5.1.3 Hybrid
    5.2 By Application
    5.2.1 Utilities
    5.2.2 Cities and Municipalities
    5.2.3 Defense
    5.2.4 Industrial
    5.2.5 Other Applications
    5.3 Geography
    5.3.1 North America
    5.3.1.1 United States
    5.3.1.2 Canada
    5.3.2 Europe
    5.3.2.1 Germany
    5.3.2.2 UK
    5.3.2.3 France
    5.3.2.4 Rest of Europe
    5.3.3 Asia-Pacific
    5.3.3.1 China
    5.3.3.2 Japan
    5.3.3.3 India
    5.3.3.4 Rest of Asia-Pacific
    5.3.4 Latin America
    5.3.5 Middle East & Africa

    6 COMPETITIVE LANDSCAPE
    6.1 Company Profiles
    6.1.1 ABB Group
    6.1.2 Siemens AG
    6.1.3 Hitachi, Ltd
    6.1.4 Eaton Corporation PLC
    6.1.5 Princeton Power Systems
    6.1.6 General Electric Corporation
    6.1.7 Pareto Energy, Ltd
    6.1.8 Honeywell International, Inc.
    6.1.9 Northern Power Systems Corporation
    6.1.10 Exelon Corporation

    7 INVESTMENT ANALYSIS

    8 MARKET OPPORTUNITIES AND FUTURE TRENDS

     

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