Key Market Insights

“Increasing government investments in microgrid projects coupled with the growing adoption of renewable energy sources will boost the market”

The global microgrid control system market is growing proficiently, projected to grow at a CAGR of 12.0% during the expected period from 2023 to 2030, starting from US$ 3.54 Bn in 2021.

An increased concern of carbon emission, advancement in IoT, as well as communication technologies, are the major drivers of the global microgrid control system market. Apart from this, increased usage of the microgrid system in large power plants and the manufacturing industry are the major factors influencing the growth of the global microgrid control system market. Further, the rising clean energy projects and the growing adoption of renewable energy sources across the world are likely to enhance the global microgrid control system market. However, the high cost associated with the installation and maintenance of the microgrid control system could pose a serious threat to the growth of the global microgrid control system market. Due to this, the small manufacturing companies are looking for a cost effective solution for a constant power supply. The high cost of the microgrid control systems can easily be overcome by the immense advantages offered by them to the consumers. Such as reliable power supply, increased power generation capacity, and emphasis on renewable energy generation and so forth.

Furthermore, the increased government investment in the microgrid control system is likely to increase the growth of the global microgrid control system market. Stringent schemes and initiatives with reference to the capping of FiT’s in the current industry scenario have obstructed microgrid deployments across European nations. However, the government has continuously focused on distributed power storage technologies in line with the provision of fund flow grants. In addition to the conventional measures across all the European countries, the EU Commission has imposed numerous governmental measures to support renewable integration which in turn will boost the microgrid control system market.

Grid Analysis

“Increasing electrification of rural and remote areas across the globe will drive the demand for a microgrid control system globally”

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 the 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.

Regional Analysis

“Dominance is led by rising investments in grid expansion coupled with rising demand for microgrid control systems to drive the Asia Pacific market growth.”

Asia-Pacific accounted for a significant portion of the global market for the microgrid control system in 2021 and is expected to register strong growth during the forecast period as well, on the back of increasing investments in grid expansion projects by developing nations such as China and India to boost their distribution grid reliability. Among the countries in the region, China was the largest market for the microgrid control system in 2021. China has the highest installed power generation and distribution capacities, which in turn is resulting in a huge demand for microgrid control systems.

The global microgrid control system market is characterized by a diverse group of regional and international manufacturers. The market for the microgrid control system is moderately fragmented in nature. There is very minimal product differentiation which induces vendors to retain their market shares by pricing their products and services competitively. Additionally, established international vendors face intense competition from regional vendors which provide customers with comparatively low-priced and customized products.

List of Companies Covered:

• ABB
• General Electric
• Siemens
• Eaton Corporation
• Emerson
• Schneider Electric
• Spirae
• Schweitzer Engineering Laboratories
• Etap
• S&C Electric Company
• Woodward, Inc.
• Powersecure, Inc.
• Ontech Electric Corporation

Key Industry Development:

• In January 2018, ABB received new orders worth USD 40 million from the Indonesian government to strengthen the country’s power grid.  It includes a consortium comprising of Doosan Heavy Industries and PT Hutama Karya, a state-owned construction company, to upgrade and expand the Muara Tawar combined cycle power plant in West Java, Indonesia. The innovative project will add 650 MW of electricity to the national grid.

Historical & Forecast Period

This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.

The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.

Research Methodology

The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Microgrid Control System market are as follows:

• Research and development budgets of manufacturers and government spending
• Revenues of key companies in the market segment
• Number of end users and consumption volume, price and value.
• Geographical revenues generate by countries considered in the report
• Micro and macro environment factors that are currently influencing the Microgrid Control System market and their expected impact during the forecast period.

Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.

Key questions answered in this report

• What are the key micro and macro environmental factors that are impacting the growth of Microgrid Control System market?
• What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
• Estimated forecast and market projections up to 2032.
• Which segment accounts for the fastest CAGR during the forecast period?
• Which market segment holds a larger market share and why?
• Are low and middle-income economies investing in the Microgrid Control System market?
• Which is the largest regional market for Microgrid Control System market?
• What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
• Which are the key trends driving Microgrid Control System market growth?
• Who are the key competitors and what are their key strategies to enhance their market presence in the Microgrid Control System market worldwide?