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Microgrid Controller Market Research Report – Global Forecast till 2030

Microgrid Controller Market Research Report Information by Connectivity (Grid, Off-Grid/Islanded), Offering (Hardware, Software, Service), Vertical (Government, Oil & Gas, Energy & Power, Industrial, Military and Defense, Commercial) and Region - Forecast till 2030

ID: MRFR/SEM/6114-HCR | December 2022 | Region: Global | 100 Pages         

Microgrid Controller Market

Microgrid Controller Market will exhibit a CAGR of 15.65% in the forecast period of 2022-2030 and is expected to reach USD 14.35 Billion by 2030

Segmentation

By Connectivity Grid Off-Grid/Islanded
By Offering Hardware Software Service
By Vertical Government Oil & Gas Energy & Power Industrial Military and Defense Commercial

Key Players

  • Schneider Electric (France)
  • Lockheed Martin Corporation (US)
  • S&C Electric Company (US)
  • Emerson Electric Co. (US)
  • Eaton Corporation (Ireland)
  • Honeywell International Inc. (US)
  • Siemens (Germany)
  • Schweitzer Engineering Laboratories (US)
  • GE Power (US)
  • ABB (Switzerland)
  • Power Analytics (US)
  • Princeton Power Systems (US)
  • Spirae Inc. (US)
  • HOMER Energy LLC (US)
  • Pareto Energy (US)
  • Advanced MicroGrid Solutions Inc. (US)
  • Qinous GmbH (Germany)

Drivers

  • Rise in demand for microgrids
  • Increasing shift toward the use of renewable energy sources to reduce carbon footprint
  • Growing investments by various governments in microgrid projects.
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Microgrid Controller Market Overview


A device that allows establishing a microgrid by controlling various distributed energy resources and loads in a specific electrical system to maintain reliable frequency and voltage. It helps fulfil the demand for electricity while maintaining grid stability and operational recovery capacity with minimal staffing.To stability maintenance and ower satisfaction demand, the microgrid controller effectively automates control of all interconnections and components of microgrids. The microgrid controller market is estimated to grow from USD 5.35 billion in 2021 to USD 14.35 Billion by 2030, at a CAGR of 15.65%, from 2022 to 2030.


Some advantages of the microgrid controller include detecting electrical disturbances and implementing accurate responses, minimizing environmental impact, and reducing the cost of energy produced.


The increase in demand for microgrids with a quick shift towards the use of renewable energy sources has been directly affecting the growth of the microgrid controller market, which is estimated to register a value of nearly US$ 6 billion in 2020.


The main manufacturers of microgrid controllers focus on incorporating new control technologies to reduce overall costs while taking a step towards renewability. The increasing inclination toward microgrids to ensure the power stability in critical loads will continue to form potential growth projections for the microgrid controller market.


The covid-19 pandemic has substantially impacted the production and manufacturing processes across the industrial area. The governments of several countries have implemented a series of strict lockdowns and restrictions to fight the crisis. These factors have decreased the manpower and opportunities for the growth of industries financially. As the demand for electricity for industrial operations has reduced, the demand for the microgrid and their controlling systems have also condensed significantly during the pandemic.


COVID 19 Analysis:


The COVID 19 pandemic has significantly affected the manufacturing and production processes across the industrial verticals. The governments of the countries have imposed a series of lockdowns and restrictions to combat the crisis. Such factors have reduced the manpower and the opportunities for the industries to grow financially. Since the demand for electricity for industrial operations has reduced, the demand for the microgrid and their controlling systems have also reduced significantly during the pandemic. On the other hand, the demand for electricity in the hospital sectors and residential sectors has increased rapidly due to the increasing number of emergencies. Such factors have aided the overall growth of microgrids and microgrid controller systems across the globe. Moreover, the countries were inclined towards developing sustainable power resources. Such factors have also fuelled the Microgrid Controller market growth during the pandemic. 


Market Dynamics:


Market Drivers:

The increasing demand for power generation without the carbon footprint and other impacts on the environment is rising. Since the Microgrids are capable of generating power, and distributing them while regulating and optimizing them efficiently while integrating them with the renewable resources are driving the overall growth of the Microgrid controller industry.

A recent report from a reputed organization has stated that about 23% of the carbon emissions are from industries, which are extremely harmful to the environment. Therefore the world is working towards optimizing the overall energy consumption while reducing carbon emissions in multiple ways. Such factors are increasing the demand for microgrids, thereby impacting the microgrid controller market growth.

Market Opportunities:

Several developing countries are inclined towards building the smart city and the related projects, especially in the Asia-pacific region and European countries. These countries are involved in replacing the aging grid infrastructure to improve efficiency based on the demand. Such factors are presenting lucrative opportunities for the Microgrid Controller market growth. 

The majority of the countries are concerned about the increasing carbon emission from the industrial sectors, therefore the countries are increasingly adopting renewable energy sources and refurbishing the existing grid networks. Additionally, they are increasing the investments of the electric networks and infrastructures as well. Such factors are expected to boost the overall growth of the Microgrid Controller Industry.

Market Restraints:

The Microgrid control systems are a novel technology and are not yet matured with the standards and specifications, therefore the system requires regular maintenance for it to operate efficiently. The costs incurred for the maintenance and the requirement of skilled professionals for carrying out the maintenance are hindering the overall growth of the Microgrid controller market.

The lack of appropriate awareness regarding the new technology about the micro-grid control system in some of the developing countries is hindering the Microgrid Controller market growth.

Market Challenges:

The major disadvantages of the microgrids include the battery storage for the electrical energy generated, space and maintenance of the entire system, consistency, and other issues that are lowering the demand for the microgrids, which thereby affects the Microgrid controller market growth. 

The charging issues and costs incurred for the installation of the microgrids that require the replacement of the existing infrastructures are considered as a major challenge for the overall growth of the Microgrid Controller market.

Cumulative Growth Analysis:

Microgrids are intensively utilized due to the potential benefits in power conservation and optimization. Additionally, the capability of connecting to renewable resources and the power backup facilities are considered as the major benefits of the microgrids. The growing population across the globe and increasing demand for the uninterrupted power supply have paved the way for the Microgrid Controller market growth. Microgrids possess several benefits such as being low-cost for the operation, providing cleaner energy, they also eliminating the issues such as grid congestion, and efficiently handling peak loads. Such potential benefits of the microgrids are the primary factors that propel the overall growth of the Microgrid Controller market. The market value of the microgrid controller was at USD 5.35 billion in the year 2021 and it is expected to surpass the market value of over USD 14.35 Billion by the year 2030 while registering a CAGR of 15.65% during the forecast period. 

Value Chain Analysis:

With the increasing number of microgrids across the globe, the demand for controlling and managing them effectively is also increasing. The governments of the countries are inclined towards producing decentralized and distributed energy systems for uninterrupted and efficient power distribution. Additionally, governmental organizations are decarbonizing the major economies and thereby increasing the deployment of microgrids. These factors are considered as the major growth stimulating factors for the Micro Grid Controller market. 

Based on the connectivity, the majority of the manufacturers are inclined towards off-grid technology due to its flexibility and enhanced control over the microgrid. Additionally, the advanced software solutions by the vendors have enabled the operator for the continuous monitoring, predicting, efficient management, and energy optimization of the microgrid network. Such factors are propelling the overall growth of the Microgrid controller market.


Segment Overview:


Based on Connectivity:



  • Grid 

  • Off-Grid 


Based on Offering:



  • Hardware

  • Software

  • Service 


Based on Applications:



  • Monitoring

  • Predicting

  • Managing 

  • Optimizing energy supply 


Based on Vertical:



  • Government 

  • Oil and Gas

  • Energy and power

  • Industrial

  • Automotive

  • Military

  • Defense

  • Commercial

  • Others 


Regional Analysis:


North America is expected to hold a higher market share among other regions owing to the increasing government initiatives towards the development of the microgrid and their installations across the region. Furthermore, the presence of potential market players across North America along with the technical expertise is propelling the overall growth of the Microgrid controller market. Some of the key factors such as increasing smart grid activities in North America and the intensive usage of sustainable power resources and power production methods, the Microgrid controller market demand have been increasing in recent years. Moreover, developing countries such as India, China, and Japan are joining hands with foreign companies in developing the existing technologies in the market which further propels the Microgrid Controller market growth. 

On the other hand, the Asia-pacific region is also experiencing healthy growth in the Microgrid controller market due to the increasing number of rural electrification projects across the region, especially, Bangladesh and India. 

Asia-pacific is expected to showcase a healthy CAGR of 5.7% during the forecast period owing to the government initiatives in replacing the aging grid infrastructure and smart city projects.


Competitive Landscape:



  • Schneider Electric (France)

  • Lockheed Martin Corporation (US)

  • S&C Electric Company (US)

  • Emerson Electric Co. (US)

  • Eaton Corporation (Ireland)

  • Honeywell International Inc. (US)

  • Siemens (Germany)

  • Schweitzer Engineering Laboratories (US)

  • GE Power (US)

  • ABB (Switzerland)

  • Power Analytics (US)

  • Princeton Power Systems (US)

  • Spirae, Inc. (US)

  • HOMER Energy LLC (US)

  • Pareto Energy (US)

  • Advanced Microgrid Solutions, Inc. (US)

  • Vinous GmbH (Germany) 


Recent Developments:


The Year 2022


Tantalus and energy tool base partner to secure the first of several projects bringing a commercial-grade microgrid solution to market.


Report Overview:


This report has covered:



  • Market Overview

  • COVID 19 Analysis

  • Market Dynamics

  • Cumulative Growth Analysis

  • Value Chain Analysis

  • Segment Overview

  • Regional Analysis

  • Competitive Landscape

  • Recent Developments



Report Scope:

Report Attribute/Metric Details
  Market Size   USD 14.35 Billion
  CAGR   15.65% (2022-2030)
  Base Year   2021
  Forecast Period   2022-2030
  Historical Data   2020
  Forecast Units   Value (USD Billion)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   Connectivity, Offering, Vertical
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   Schneider Electric (France), Lockheed Martin Corporation (US), S&C Electric Company (US), Emerson Electric Co. (US), Eaton Corporation (Ireland), Honeywell International Inc. (US), Siemens (Germany), Schweitzer Engineering Laboratories (US), GE Power (US), ABB (Switzerland), Power Analytics (US), Princeton Power Systems (US), Spirae, Inc. (US), HOMER Energy LLC (US), Pareto Energy (US), Advanced MicroGrid Solutions, Inc. (US), and Qinous GmbH (Germany)
  Key Market Opportunities   The upcoming smart city projects in Asia-Pacific and replacement of aging grid infrastructure in the European region.
  Key Market Drivers

  • Rise in demand for microgrids.
  • Increasing shift toward the use of renewable energy sources to reduce carbon footprint.
  • Growing investments by various governments in microgrid projects.


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