Microgrid Controller Market

A microgrid is a localized group of interconnected loads and distributed energy resources that generally operate connected to and synchronous with the traditional microgrid. It can connect and disconnect from the grid to operate in grid-connected or island mode. The microgrid controller is a device that enables the formation of a microgrid by controlling the distribution of the energy resources and loads in a prearranged electrical system to provide acceptable frequency and voltage.

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The accelerating adoption of microgrids for reliable, & secure power supply, the fundamental shift towards the usage of renewable energy sources to reduce carbon footprint, increasing investment by governments on microgrid projects, and optimization of energy assets and enhanced efficiency of microgrids by using microgrid controllers are the major factors contributing to the growth of the global microgrid controller market. In addition to this, modernization of infrastructure across the global to acquire smart city capabilities is leading to an increase in the demand for microgrids, which in turn, is strengthening the demand for microgrid controllers in the coming years. The strong demand for microgrid from the utility, government, and military sector across the globe, rising emphasis on the development of smart cities, especially in the developing economies, followed by the growing necessity to upgrade the existing old grid infrastructure will create innumerable growth opportunities for the market. However, on the other hand, the high cost of microgrids and the implementation of stringent government regulations are some factors that will hamper the growth of the market.

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Based on the connectivity, the grid-connected is expected to grow at a higher CAGR during the forecast period owing to its ability to provide higher reliability as compared to the remote/off-grid/islanded grid. In a grid-connected microgrid, power transmission depends on the primary grid, while isolated microgrids produce their own power without any connection with the utility grid.

Based on offering, the software segment is projected to grow at a higher CAGR during the forecast period due to its ability to monitor, predict, handle, and maximize the energy supply. The hardware segment is expected to lead the market during the forecast period owing to its high price components such as HMIs, intelligent controllers, and generation optimizer.
Based on the vertical, the military & defense segment is anticipated to lead the Global Microgrid Controller market over the forecast period. The accelerating adoption of microgrid technology to enable buildings or bases to continue functioning on its own power when the grid goes down, is the key factor which is driving the growth of this segment.

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Based on the region, the Asia-pacific region is projected to grow at a higher CAGR in the global Microgrid Controller market over the forecast period. The continuous expansion in the industrial sector and the development of power infrastructure, especially in China, Japan, and India, are boosting the growth of the market in this region. Asia-pacific is one of the potential markets for microgrid controller systems. The electricity demand in the Asia-pacific is increasing faster than the expansion of traditional electricity grids, which further fuels the growth of the market.

Various notable players in the Microgrid Controller market include Schneider Electric SE, GE Power, ABB, Siemens AG, Schweitzer Engineering Laboratories, Inc., Eaton Corporation, Inc., Lockheed Martin Corporation, Honeywell International, Inc., S&C Electric Company, Power Analytics Corporation, Emerson Electric Co., among others.

Key Developments:

• • In Apr 2019, ABB entered into a partnership with Rolls-Royce on microgrid technology and advanced automation. Under this partnership, both companies will offer an advance, and energy-efficient microgrid solutions for utilities, industrial and commercial applications.
  • In Nov 2017, Emerson launched Ovation OCC100, an automation technology for utilities and independent power producers and fast-growing renewable power and microgrid markets.

The Global Microgrid Controller market has been segmented based on the connectivity, offering, vertical, and region. Based on the connectivity, the market is categorized into Grid Connected and Off-Grid/Remote/Islanded. Based on offering, the market is segmented into hardware, software, and services. Based on the vertical, the market is segmented into Government, Utilities, Commercial, Industrial, Educational Institutes, Military & Defense, Healthcare, and Others.

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Key questions answered in this research report:

• • At what pace is the global Microgrid Controller market growing? What will be a growing trend in the future?
  • What are the key drivers and restraints in the global Microgrid Controller market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenue and forecast breakdowns? Which are the major regional revenue pockets for growth in the global Microgrid Controller market?
  • What are the various verticals of the global Microgrid Controller market, and how are they poised to grow?
  • Which connectivity generated maximum revenues in 2019 and identify the most promising products during the forecast period?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Market Segmentation:

Global Microgrid Controller Market by Connectivity

• • Grid Connected
  • Off-Grid/Remote/Islanded

Global Microgrid Controller Market by Offering

• • Hardware
  • Software
  • Services

Global Microgrid Controller Market by Vertical

• • Government
  • Utilities
  • Commercial
  • Industrial
  • Educational Institutes
  • Military & Defense
  • Healthcare
  • Others

Global Microgrid Controller Market by Region

• • North America Microgrid Controller Market
    Option 1: As a part of the free 25% customization
    • North America Microgrid Controller Market by Connectivity
    • North America Microgrid Controller Market by Offering
    • North America Microgrid Controller Market by By Vertical
    • United States of America (US) Microgrid Controller Market All-Up
    • Canada Microgrid Controller Market All-Up
  • Europe Microgrid Controller Market
    Option 2: As a part of the free 25% customization
    • Europe Microgrid Controller Market by Connectivity
    • Europe Microgrid Controller Market by Offering
    • Europe Microgrid Controller Market by Vertical
    • United Kingdom (UK) Microgrid Controller Market All-Up
    • Germany All-Up Microgrid Controller Market All-Up
    • France Microgrid Controller Market All-Up
    • Spain Microgrid Controller Market All-Up
    • Rest of Europe Microgrid Controller Market All-Up
  • Asia-Pacific Microgrid Controller Market
    Option 3: As a part of the free 25% customization
    • Asia-Pacific Microgrid Controller Market by Connectivity
    • Asia-Pacific Microgrid Controller Market by Offering
    • Asia-Pacific Microgrid Controller Market by Vertical
    • China Microgrid Controller Market All-Up
    • India Microgrid Controller Market All-Up
    • Japan Microgrid Controller Market All-Up
    • Rest of APAC Microgrid Controller Market All-Up
  • ROW Microgrid Controller Market
    Option 4: As a part of the free 25% customization
    • RoW Microgrid Controller Market by Connectivity
    • RoW Microgrid Controller Market by Offering
    • RoW Microgrid Controller Market by Vertical
    • Brazil Microgrid Controller Market All-Up
    • South Africa Microgrid Controller Market All-Up
    • Saudi Arabia Microgrid Controller Market All-Up
    • UAE Microgrid Controller Market All-UpRest of world (remaining countries of the LAMEA region) Microgrid Controller Market All-Up

Microgrid Controller Leading Market Players (Option 5: As a part of the free 25% customization – Profiles of 5 Additional Companies of your Choice)

• • Schneider Electric SE
  • GE Power
  • ABB
  • Siemens AG
  • Schweitzer Engineering Laboratories, Inc.
  • Eaton Corporation, Inc.
  • Lockheed Martin Corporation
  • Honeywell International, Inc.
  • S&C Electric Company
  • Power Analytics Corporation
  • Emerson Electric Co.