Microgrid Control System Market
Analysis
The global microgrid control system market
is estimated to progress at 13.05% CAGR during the forecast period.
Microgrid control system helps in integrating the
energy assets with an objective to reduce the energy costs for a microgrid. The
applications of microgrid control system includes off-grid remote communities
where in a control system optimizes the operation of diesel generators and
integration with renewable energy resources.
Leading
Players
The key players of the global microgrid control system
market are Siemens (Germany), ABB (Switzerland), Eaton Corporation (Ireland),
S&C Electric Company (US), Schneider Electric (France), Emerson (US),
Spirae (US), Schweitzer Engineering Laboratories (US), Etap (US), Woodward,
Inc. (US), Power Secure, Inc. (US), Ontech Electric Corporation (China), and
General Electric (US)
Segmental
Analysis
The global microgrid control system market has been
segmented based on grid type, ownership, component, end-use, and region.
On the basis of ownership, the global market has been
divided into private and public. The private segment is the larger segment in
the market due to growing electricity demand for private microgrid control
systems. Private microgrid control systems have applications in defense,
campuses, and the commercial sector.
On the basis of grid type, the global market is
segmented into on-grid and off-grid. The off-grid segment is expected to
dominate the microgrid control system market, owing to the rising power demand
in remote areas.
On the basis of end-use, the global market is
segmented into utilities, industrial, commercial, and others. The utilities
segment is expected to dominate the microgrid control system market during the
forecast period. Utilities are accelerating their investment in microgrids and
their control system to reduce operating cost and optimize distributed energy
resources. This would increase the market for microgrid control system
globally.
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Regional
Analysis
On the basis of region, the global microgrid control
system market has been segmented into Asia-Pacific, North America, Europe, the
Middle East & Africa, and South America.
Asia-Pacific dominated the microgrid control system
market in 2018 and is estimated to be the fastest growing region.
The growth of the microgrid control system market in
Asia-Pacific is driven by many factors including the rise in investments in
power sector, resulting in power infrastructure development in the emerging
economies of Australia, China, Thailand, and India.
Moreover, market players such as ABB, Siemens, and
Schneider Electric have signed contracts with industries to provide microgrid
control system and necessary services.
Furthermore, the rising expansion of power plants and
development of smart grids are other factors driving the growth of microgrid
control system market, globally.
Scope
of the Report
This research report
provides insights into various levels of analysis, such as industry analysis
and market share analysis for the leading industry competitors, along with
their profiles. It also helps in studying the target segments by providing
views on the emerging & high-growth segments. The market data comprises the
basic assessment of the competitive scenarios and strategies in the global microgrid
control system market, including high-growth regions and/or countries, and
political and economic environments. The project report further provides both –
historical market values and pricing and cost analysis
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