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Global Microgrid Controller Market is Expected to Reach USD 58.23 Billion by 2025 : Fior Markets

Global Microgrid Controller Market by Ownership (Private, Public), Grid Type (On-Grid, Off-Grid), Component (Hardware, Software), End User (Utilities, Others), Region Global Industry Analysis, Market Size, Share, Growth, Trends, and Forecast 2018 to 2025

/EIN News/ -- NEWARK, NJ, Feb. 19, 2020 (GLOBE NEWSWIRE) -- As per the report published by Fior Markets, the global microgrid controller market is expected to grow from USD 19.56 Billion in 2017 to USD 58.23 Billion by 2025 at a CAGR of 14.6% during the forecast period from 2018-2025

A device that permits microgrid creation by controlling distributed energy resources and loads in a pre-defined electrical system to maintain acceptable frequency and voltage. A microgrid network connects to the network at a common coupling point that maintains voltage at the same level as the main network unless there is some kind of network problem or some other reason to disconnect. The adapter can separate the microgrid from the main network automatically or manually, then act as an island.

The microgrid control unit is a tool that enables the establishment of a microgrid by controlling the transmitted biological assets and in a preset electrical system to keep up with the required amount of frequency and voltage. Without a doubt, microgrid may be described as generating, storing and loading resources within limits managed by the controller. It helps distribution network operators integrate and improve energy assets in order to reduce the total energy cost of the local distribution network.

The global market for controlling microgrid networks is expected to grow rapidly during the expected period, due to the increasing necessity of backup solutions, it is a major factor driving the market. Also, the increased use of renewables and high government spending on microgrid projects are also fueling market growth. The high cost of installing and maintaining a microgrid control system may hinder market growth. However, the growing demand for microgrid control systems in industries and improvement in IOT as well as communication technologies will drive the growth of the microgrid controller.

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Key players in the Microgrid Controller market are 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, and Exelon Corporation among others. To strengthen its market position in the microgrid controller market, key players are now focusing on adopting strategies such as recent developments, product innovation, joint ventures, mergers and acquisitions, cooperation, and partnership. Major firms are increasingly investing on research and development activities and development of newer products. 

  • For example, in September 2016, GE and National Instruments (United States) collaborated to work on USAID small and solar network projects in Africa and India.
  • In June 2017, ABB partnered with Aruba. ABB, a well-known microgrid technology company, is providing power to Aruba. Aruba Island plans to cover half of its annual energy needs with renewable energy and the other half with alternative fuels by 2020. ABB WEB Aruba's software, automation and control technologies will help integrate solar, wind and forecasting, better planning and optimization of operations in real time, in While meeting the growing demand in Aruba for electricity.

The private ownership section held the largest market share of 57.80% in 2017

The ownership segment is divided into private and public. The private ownership division is controlling the microgrid controller market in 2017. High energy consumption and increasing governments monetary incentives to set up power microgrid control systems have motivated the private players to enter the market.

The hardware segment held the largest market share of 61.20% in 2017

The component segment is classified into segments such as hardware and software. The hardware segment dominated the market in 2017. Rising number of microgrid plans in large power plants and increasing petition from process industries has determined the hardware section of the microgrid control system market.

Off-grid segment valued around USD 12.57 Billion in 2017

The grid type segment is divided into on-grid and off-grid. Off-grid segment is dominating the market with the highest share in 2017. The off-grid section is predictable to hold the largest market share by 2023. The rising electrification of rural and remote zones across the globe has led to the high acceptance rate of remote/islanded microgrid control system.

The industrial division valued around USD 7.56 Billion in 2017

The end user segment is classified into utilities, campuses and institutions, commercial, and industrial. The industrial section conquered the market with the highest share in 2017. Industries are ranking more on energy consumption to decrease functional costs. This has resulted in many companies opting for microgrid systems to increase efficiency while reducing energy costs and carbon emissions.

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Regional Segment Analysis of the Microgrid Controller market

  • North America (U.S. , Canada, Mexico)
  • Europe (Germany, France, U.K., Italy, Spain, Rest of the Europe)
  • Asia-Pacific (China, Japan India, Rest of APAC)
  • South America (Brazil and Rest of South America)
  • Middle East and Africa (UAE, South Africa, Rest of MEA)

The regions analysed for the market include North America, Europe, South America, Asia Pacific, and Middle East and Africa. Asia-Pacific region dominated the global microgrid controller market with USD 7.76 Billion in 2017 where as the North America region is growing rapidly in the market. The Asia-Pacific region is the fastest increasing region due to countries such as China and India which are deeply capitalising in electrification projects, moderation & upgradation of existing electric systems so as to meet the growing demand for electricity. North America is dominating the market as the replacement and refurbishment of the existing infrastructure is the major requirement in the local utility grid scenario in this region. Micro grids are existence employed in remote sites to facilitate power and communication capabilities.

About the report:

The global microgrid controller market is analysed on the basis of value (USD Billion), volume (K Units), imports (K Units) and exports (K Units). All the segments have been analyzed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers an in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution and marketing channels analysis.

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Fior Markets is a futuristic market intelligence company, helping customers flourish their business strategies and make better decisions using actionable intelligence. With transparent information pool, we meet clients’ objectives, commitments on high standard and targeting possible prospects for SWOT analysis and market research reports. Fior Markets deploys a wide range of regional and global market intelligence research reports including industries like technology, pharmaceutical, consumer goods, food and beverages, chemicals, media, materials and many others. Our Strategic Intelligence capabilities are purposely planned to boost your business extension and elucidate the vigor of diverse industry. We hold distinguished units of highly expert analysts and consultants according to their respective domains. The global market research reports we provide involve both qualitative and quantitative analysis of current market scenario as per the geographical regions segregated and comprehensive performance in different regions with global approach. In addition, our syndicated research reports offer a packaged guide to keep companies abreast of the upcoming major restyle in their domains. Fior Markets facilitates clients with research analysis that are customized to their exact requirements, specifications and challenges, whether it is comprehensive desk research, survey work, composition of multiple methods, in-detailed interviewing or competitive intelligence. Our research experts are experienced in matching the exact personnel and methodology to your business need.

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