Microgrid Control System Market Electrified

  • The off-grid segment is expected to hold the largest share of the microgrid control system market, by grid-type, during the forecast period.
  • The private segment is expected to hold the largest share of the microgrid control system market, by ownership, during the forecast period.
  • By components, the hardware segment is expected to grow at the fastest rate during the forecast period.

The microgrid control system market is expected to grow from an estimated $2.0 billion in 2018 to $3.6 billion by 2023, at a CAGR of 13.01%. Increasing investments in electric networks, refurbishment of the existing grid networks, and growing adoption of renewable energy sources across the globe are likely to drive the microgrid control system market.  Rising electrification projects and advancement in the Internet of Things (IoT), as well as communication technologies, can lead to opportunities in the microgrid control system market

Browse 64 market data Tables and 31 Figures spread through 142 Pages and in-depth TOC

The off-grid segment led the microgrid control system market in 2018 and is projected to have the largest market share during the forecast period. Remote/island/off-grid microgrids are mainly used to provide diverse power sources for geographically remote communities and developing countries. This growth can be attributed mainly to the growing demand to attain reliable and sustainable power supply majorly in rural areas of the Asia Pacific and the Middle East & Africa region. Also, these type of microgrid control systems have a huge demand in military bases, mining, and oil & gas industries. Increasing focus to reduce diesel fuel consumption by integrating solar PV and distributed wind further drives the microgrid control system market.

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Factors such as increasing demand for electricity, rising power generation capacity, and increasing usage of renewable sources to generate electricity are expected to boost the demand for the private microgrid control systems. Private players find microgrid control system’s major application in defence, university campuses, and commercial and industrial end-users. Also, rising investments in electrification projects, in which microgrid technologies are highly deployed encourages private players to invest in the microgrid control system.

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Asia Pacific led the global microgrid control system market in 2017. The high growth rate in the Asia Pacific region can be attributed to increased investments in the electric grid development and growing reliance on renewable sources of power generation. China and India are the largest markets for microgrid control system market in the region. China accounts for the largest share owing to the increasing investment in electrification projects, the country accounted for highest installed generation and distribution capacity in the Asia Pacific region, resulting in an increased demand for the microgrid control system.

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The key players are ABB (Switzerland), GE (US), Siemens (Germany), Schneider (France), Eaton (Ireland), Emerson (US), Spirae (US), Schweitzer Engineering Laboratories, Inc.  (US), ETAP (US), S&C Electric (US), Woodward, Inc. (US), PowerSecure (US), RT SOFT (Germany), Ontech Electric Corporation (China). Contracts & agreements was one of the key strategies adopted by the players to strengthen their global presence and offerings.

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Akshay Mehta

Energy and Power Consultant

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