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Microgrid Control Systems Market 2019 | Rising Status of Key Players, Industry Size & Share, Growth Factors, New Technologies Revenue Forecast by 2024

Microgrid

The “Microgrid Control Systems Market” report 2019 provides information for market players, stakeholders, investors, and business strategists to achieve a leading position the market. It maintains the record of Unusual growth strategies adopted by various companies are creating new standards for competition in the global Microgrid Control Systems market. Businesses around the world are aiming at increasing their profit margin and establishing a stronghold in the global market. The impact of prevailing regulatory scenario on both regional and worldwide Microgrid Control Systems market is provided in detail in the report.

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Microgrid Control Systems Market Covers Key Players:

  • 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
  • Exelon Corporation

    Market Overview:

  • The microgrid control systems market was valued at USD 23.5 billion in 2018, and is expected to reach a market value of USD 41.7 billion by 2024, registering a CAGR of 12.25% during the forecast period (2019-2024). Continuous improvements in control and energy management are expected to positively impact the market growth. Price depreciation in both distributed renewable power and battery technologies, along with the technological advancements in energy management systems, has created more efficient renewable grid networks, along with advanced smart grid technologies.
  • – With microgrids now being deployed in many areas and integrated with new technologies, such as fuel cell, there is a need for efficient and reliable control systems that can handle the complexity of these new systems.
  • – Thus, the need for effective and centralized microgrid controllers is increasing. Due to their long-distance lines, traditional grids are deemed to be highly inefficient.
  • – Also, microgrids are highly efficient. With the increasing fuel and energy costs, the need for efficient systems is growing, which, in turn, is favoring the rate of adoption of microgrid systems.
  • – However, higher implementation costs can hinder the growth of the market. With these systems being relatively new, there is also a constant requirement for maintenance, and hence, the need for skilled labor to address technical issues. These factors are standing as roadblocks for the market growth.

    Report Highlights:

    • The report provides a detailed analysis on current and future market trends to identify the investment opportunities
    • Market forecasts till 2024, using estimated market values as the base numbers
    • Key market trends across the business segments, Regions and Countries
    • Key developments and strategies observed in the market
    • Market Dynamics such as Drivers, Restraints, Opportunities and other trends
    • In-depth company profiles of key players and upcoming prominent players
    • Growth prospects among the emerging nations through 2024
    • Microgrid Control Systems Market opportunities and recommendations for new investments

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    Scope of the Report:

  • A microgrid is an integrated energy system with local distributed energy resources (DERs), such as local loads, generating assets, and possibly energy storage devices, such as batteries or fuel-cells. A microgrid system is typically capable of operating in islanded (off-the grid) or grid-connected mode.

    Key Market Trends:

    Grid-connected Segment Accounts for a Significant Share in the Market

    – 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 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.
    – The Asia-Pacific region is witnessing increased developmental activities regarding grid-connected technology with countries, such as Singapore and India investing in installing grid-connected for efficient energy management.

    The United States Occupies the Largest Market share

    – The rise of renewable energy and distributed generation systems is expected to drive the market over the forecast period.
    – The traditional grid market is under increasing pressure. At the same time, its aging infrastructure requires major overhauls and the US EPA (Environmental Policy Agency) has imposed unprecedented greenhouse gas regulation, which is further driving the market for the integrated renewable energy microgrid control systems.
    – The rising governmental support in the form of funding and state-level resiliency programs has increased the demand from institutions or campus applications, making it a key driver for the US market growth.
    – The drop in energy storage prices is expected to lower the cost of integrating renewable energy. This factor is also expected to drive the rate of adoption of microgrids in larger communities and commercial and industrial sectors.

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    Detailed TOC of Microgrid Control Systems Market Report 2019-2024:

    1 INTRODUCTION
    1.1 Study Deliverables
    1.2 Study Assumptions
    1.3 Scope of the Study

    2 RESEARCH METHODOLOGY

    3 EXECUTIVE SUMMARY

    4 MARKET DYNAMICS
    4.1 Market Overview
    4.2 Introduction to Market Drivers and Restraints
    4.3 Market Drivers
    4.3.1 Increasing Demand for Backup Solutions (For Support, In Case Of Emergency Blackouts)
    4.3.2 Growing Need to Improve Operational Efficiency
    4.4 Market Restraints
    4.4.1 High Implementation Costs and Operational and Technical Issues
    4.5 Value Chain Analysis
    4.6 Industry Attractiveness – Porter’s Five Force Analysis
    4.6.1 Threat of New Entrants
    4.6.2 Bargaining Power of Buyers/Consumers
    4.6.3 Bargaining Power of Suppliers
    4.6.4 Threat of Substitute Products
    4.6.5 Intensity of Competitive Rivalry

    5 MARKET SEGMENTATION
    5.1 By Type
    5.1.1 Grid-connected
    5.1.2 Off-Grid
    5.1.3 Hybrid
    5.2 By Application
    5.2.1 Utilities
    5.2.2 Cities and Municipalities
    5.2.3 Defense
    5.2.4 Industrial
    5.2.5 Other Applications
    5.3 Geography
    5.3.1 North America
    5.3.1.1 United States
    5.3.1.2 Canada
    5.3.2 Europe
    5.3.2.1 Germany
    5.3.2.2 UK
    5.3.2.3 France
    5.3.2.4 Rest of Europe
    5.3.3 Asia-Pacific
    5.3.3.1 China
    5.3.3.2 Japan
    5.3.3.3 India
    5.3.3.4 Rest of Asia-Pacific
    5.3.4 Latin America
    5.3.5 Middle East & Africa

    6 COMPETITIVE LANDSCAPE
    6.1 Company Profiles
    6.1.1 ABB Group
    6.1.2 Siemens AG
    6.1.3 Hitachi, Ltd
    6.1.4 Eaton Corporation PLC
    6.1.5 Princeton Power Systems
    6.1.6 General Electric Corporation
    6.1.7 Pareto Energy, Ltd
    6.1.8 Honeywell International, Inc.
    6.1.9 Northern Power Systems Corporation
    6.1.10 Exelon Corporation

    7 INVESTMENT ANALYSIS

    8 MARKET OPPORTUNITIES AND FUTURE TRENDS

     

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