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.
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
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.
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)
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