Global Microgrid Control System Market

Global Microgrid Control System Market Size, Share, Growth Analysis, By Grid Type(On-Grid, Off-Grid), By Component(Hardware, Software), By Ownership(Private, Public), By End-User(Utilities, Campuses & Institution) - Industry Forecast 2023-2030


Report ID: SQMIG45K2088 | Region: Global | Published Date: February, 2024
Pages: 242 | Tables: 117 | Figures: 77

Global Microgrid Control System Market Insights

Microgrid Control System Market size was valued at USD 2.47 billion in 2021 and is poised to grow from USD 2.8 billion in 2022 to USD 7.5 billion by 2030, growing at a CAGR of 13.3% in the forecast period (2023-2030).

In the event of a power outage or outage, the microgrid ensures electricity supply. It also offers extra support and distributes the load connected to the main grid. Microgrid control systems are being adopted at a faster rate as the need for power in rural regions grows. The deployment of microgrids calls for the development of effective and dependable control systems that can manage the complexity of these new systems as they merge with emerging technologies like fuel cells.

The sector has been compelled to employ effective energy conservation techniques as a result of expanding environmental protection initiatives and stringent rules that restrict greenhouse gas emissions. At the center of this movement was the reorganization of policies and procedures in key energy markets, which was aided by ongoing product advancements in terms of technological performance, flexibility, and efficiency. In addition, modern distributed power generating systems will propel the microgrid control system market in tandem with the explosive expansion of the infrastructure for renewable energy sources.

US Microgrid Control System Market is poised to grow at a sustainable CAGR for the next forecast year.

Market snapshot - 2023-2030

Global Market Size

USD 2.47 billion

Largest Segment

Private

Fastest Growth

Private

Growth Rate

13.3% CAGR

Global Microgrid Control System Market 2022-2028 ($ Bn)
Country Share for North America Region- 2021 (%)
Global Microgrid Control System Market Size By Ownership 2022-2028 ($ Bn)
Global Microgrid Control System Market Size By Ownership 2022-2028 (%)

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Global Microgrid Control System Market Segmental Analysis

The Global Microgrid Control System Market is segmented based on grid type, component, ownership, end-user, and region. Based on the Grid Type, it is categorized into On-grid, Off-grid and Hybrid. Based on Component, it is categorized into Hardware and Software. Based on Ownership, it is categorized into Private and Public. Based on End-user, it is categorized into Utilities, Campuses & Institution, Residential, Commercial and Industrial. Based on region, it is categorized into North America, Europe, Asia Pacific, The Middle East and Africa, and Latin America.

Microgrid Control System Market Analysis by Component

On the basis of components, the hardware segment is projected to dominate the global microgrid control system market over the forecast period. The hardware segment consists of communication networks, local controllers, data loggers, data recorders, digital input modules, digital output modules, analogue input/output modules, CPU modules, and relays and meters. The hardware sector is projected to dominate the microgrid control system market because of the growing number of microgrid projects in big power plants and the strong need for process industries including manufacturing, oil and gas, mining, steel, and chemicals.

Microgrid Control System Market Analysis by Ownership

On the basis of ownership, the private ownership segment is expected to dominate the global microgrid control system market with the largest market share, over the forecast period. Private microgrid control systems can function in an islanded mode in addition to being typically grid-connected. The shareholders or investors are the proprietors of private utilities. Certain utility commissioners oversee these types of utilities. These private utilities can run their own generation facilities or buy electricity through contracts. A number of commercial companies have set up power microgrid control systems to meet the domestic electricity demand thanks to rising primary energy consumption and financial incentives from governments. This expansion is linked to increased electrification project investments, which heavily utilizes microgrid technology.

Global Microgrid Control System Market By Ownership, 2021 (%), 2021 (%)

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Global Microgrid Control System Market Regional Insights

Based on the region, the North American region is projected to dominate the global microgrid control system market with respect to market share. This is due to the growing focus on grid modernization in the region. Due to increased investments in the country's grid technology update, the United States is predicted to dominate the North American microgrid control system market. As the number of smart grid projects in Canada has increased, the market has been growing. The market in North America is also projected to continue to grow as a result of the implementation of a strict government regulatory framework.

Additionally, Asia Pacific is also projected to show significant growth prospects over the forecast period. The major markets, contributing to the increasing demand for microgrid control systems, include China and India, which is expected to affect the market positively.

A significant market for microgrid control systems exists in Europe as well. It is currently investing heavily in the modernisation of the electrical grid. For instance, during the next three to five years, TenneT, the transmission operator in the Netherlands and Germany, wants to invest up to €6 Bn. In order to fulfill the EU's new aim of reducing emissions by up to 55 percent by 2030, the corporation is creating new connections, reinforcing and expanding its grid, and improving system operations.

Global Microgrid Control System Market By Geography, 2022-2028, 2023-2030
  • Largest
  • Fastest

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Global Microgrid Control System Market Dynamics

Microgrid Control System Market Drivers

  • The majority of global industries aim to cut their energy usage in order to lower carbon dioxide emissions and operating expenses because it is estimated that global carbon emissions will reach 23% by 2050. The market for microgrid control systems is projected to expand significantly as a result of these systems' ability to both significantly lower energy costs and boost industry productivity. Additional industries are utilizing additional storage in microgrid control systems to handle backup needs and to supply extra energy to systems for their effective and efficient operation in an effort to lower operating costs. Power outages are quite common in a place like India. The entire planet experiences a daily power dim-out of 1 lakh MW. The microgrid control system has been demonstrated to be more effective when compared to typical backup systems. Additionally, the capability of microgrids to operate autonomously for extended periods of time while still supplying enough power.

Microgrid Control System Market Restraints

  • The newest technology available on the market, the microgrid control system, requires routine maintenance. Due to the particular need for professional staff in the process, the cost of routine maintenance is relatively expensive. The system's operational costs will consequently rise as a result of this. This is the key cause or element that is projected to seriously hamper the global microgrid control system market. Additionally, there is a need to raise knowledge about this microgrid management system across the many businesses, since this factor's ignorance of new technical breakthroughs could prove to be a barrier to the market's expansion for these systems.

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Global Microgrid Control System Market Competitive Landscape

The microgrid control systems market is relatively less competitive due to the substantial initial investments required to establish a firm in the industry. Due to the existence of numerous new and existing companies, the worldwide microgrid control system market is projected to experience severe competition. The top players are constantly implementing a variety of tactics to improve their penetration, including market collaboration and the launch of new products.

Microgrid Control System Market Top Players Company Profiles

  • ABB Ltd.
  • Schneider Electric SE
  • Siemens AG
  • Honeywell International Inc.
  • Eaton Corporation Plc
  • General Electric Company
  • Spirae, LLC
  • Schweitzer Engineering Laboratories, Inc.
  • Power Analytics Corporation
  • Exelon Corporation
  • Hitachi, Ltd.
  • S&C Electric Company
  • Emerson Electric Co.
  • Advanced Microgrid Solutions, LLC
  • Northern Power Systems Corp.
  • Opus One Solutions Energy Corp.
  • Toshiba Corporation
  • Green Energy Corp.
  • PowerSecure International, Inc.
  • Rockwell Automation, Inc.

Microgrid Control System Market Recent Developments

  • In September 2021, an agreement to buy a 51 percent investment in Holu Hou Energy LLC was signed by Borqs Technologies, Inc., a global developer of Internet of Things (IoT) software and integrated devices and a portfolio company of Qualcomm Technologies. The first company to introduce a large MDU market to solar power generation, HHE is the only business in the US market to offer a novel microgrid function.

Global Microgrid Control System Key Market Trends

  • The development of renewable energy technology was sparked by the last few decades' rising energy demand and climatic changes that raised the amount of carbon dioxide in the atmosphere. However, the addition of these distributed generating sources to the grid has had a negative effect on the current system's integrated functionality. The microgrid concept, which would enable the existing system to accommodate further integration of renewable energy sources into it, is a potential remedy for this issue. Depending on the power quality concerns and conditions, the Microgrid will either operate in islanded mode or in grid connected mode. Control of the microgrid is crucial in both scenarios. Different control solutions for Microgrid have been presented by several researchers under varied circumstances. These factors are expected to increase the adoption of microgrid control systems, thus fueling the growth of the market globally.

Global Microgrid Control System Market SkyQuest Analysis

SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyzes the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.

According to the analysis, the global microgrid control system market is currently led by countries in the North American region, due to the growing focus on grid modernization in the region. Along with this, the hardware segment is projected to dominate the global microgrid control system market, the growing number of microgrid projects in big power plants and the strong need for process industries.

Report Metric Details
Market size value in 2021 USD 2.47 billion
Market size value in 2030 USD 7.5 billion
Growth Rate 13.3%
Base year 2021
Forecast period 2023-2030
Forecast Unit (Value) USD Billion
Segments covered
  • Grid Type
    • On-Grid, Off-Grid, Hybrid
  • Component
    • Hardware, Software
  • Ownership
    • Private, Public
  • End-User
    • Utilities, Campuses & Institution, Residential, Commercial, Industrial
Regions covered North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
Companies covered
  • ABB Ltd.
  • Schneider Electric SE
  • Siemens AG
  • Honeywell International Inc.
  • Eaton Corporation Plc
  • General Electric Company
  • Spirae, LLC
  • Schweitzer Engineering Laboratories, Inc.
  • Power Analytics Corporation
  • Exelon Corporation
  • Hitachi, Ltd.
  • S&C Electric Company
  • Emerson Electric Co.
  • Advanced Microgrid Solutions, LLC
  • Northern Power Systems Corp.
  • Opus One Solutions Energy Corp.
  • Toshiba Corporation
  • Green Energy Corp.
  • PowerSecure International, Inc.
  • Rockwell Automation, Inc.
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Table Of Content

Executive Summary

Market overview

  • Exhibit: Executive Summary – Chart on Market Overview
  • Exhibit: Executive Summary – Data Table on Market Overview
  • Exhibit: Executive Summary – Chart on Global Microgrid Control System Market Characteristics
  • Exhibit: Executive Summary – Chart on Market by Geography
  • Exhibit: Executive Summary – Chart on Market Segmentation
  • Exhibit: Executive Summary – Chart on Incremental Growth
  • Exhibit: Executive Summary – Data Table on Incremental Growth
  • Exhibit: Executive Summary – Chart on Vendor Market Positioning

Parent Market Analysis

Market overview

Market size

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • SWOT Analysis

KEY MARKET INSIGHTS

  • Technology Analysis
    • (Exhibit: Data Table: Name of technology and details)
  • Pricing Analysis
    • (Exhibit: Data Table: Name of technology and pricing details)
  • Supply Chain Analysis
    • (Exhibit: Detailed Supply Chain Presentation)
  • Value Chain Analysis
    • (Exhibit: Detailed Value Chain Presentation)
  • Ecosystem Of the Market
    • Exhibit: Parent Market Ecosystem Market Analysis
    • Exhibit: Market Characteristics of Parent Market
  • IP Analysis
    • (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
  • Trade Analysis
    • (Exhibit: Data Table: Import and Export data details)
  • Startup Analysis
    • (Exhibit: Data Table: Emerging startups details)
  • Raw Material Analysis
    • (Exhibit: Data Table: Mapping of key raw materials)
  • Innovation Matrix
    • (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
  • Pipeline product Analysis
    • (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
  • Macroeconomic Indicators

COVID IMPACT

  • Introduction
  • Impact On Economy—scenario Assessment
    • Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
  • Revised Market Size
    • Exhibit: Data Table on Global Microgrid Control System Market size and forecast 2021-2027 ($ million)
  • Impact Of COVID On Key Segments
    • Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
  • COVID Strategies By Company
    • Exhibit: Analysis on key strategies adopted by companies

MARKET DYNAMICS & OUTLOOK

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • Regulatory Landscape
    • Exhibit: Data Table on regulation from different region
  • SWOT Analysis
  • Porters Analysis
    • Competitive rivalry
      • Exhibit: Competitive rivalry Impact of key factors, 2021
    • Threat of substitute products
      • Exhibit: Threat of Substitute Products Impact of key factors, 2021
    • Bargaining power of buyers
      • Exhibit: buyers bargaining power Impact of key factors, 2021
    • Threat of new entrants
      • Exhibit: Threat of new entrants Impact of key factors, 2021
    • Bargaining power of suppliers
      • Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
  • Skyquest special insights on future disruptions
    • Political Impact
    • Economic impact
    • Social Impact
    • Technical Impact
    • Environmental Impact
    • Legal Impact

Market Size by Region

  • Chart on Market share by geography 2021-2027 (%)
  • Data Table on Market share by geography 2021-2027(%)
  • North America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • USA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Canada
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Europe
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Germany
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Spain
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • France
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • UK
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Europe
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Asia Pacific
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • China
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • India
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Japan
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Korea
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Asia Pacific
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Latin America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Brazil
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of South America
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Middle East & Africa (MEA)
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • GCC Countries
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Africa
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of MEA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)

KEY COMPANY PROFILES

  • Competitive Landscape
    • Total number of companies covered
      • Exhibit: companies covered in the report, 2021
    • Top companies market positioning
      • Exhibit: company positioning matrix, 2021
    • Top companies market Share
      • Exhibit: Pie chart analysis on company market share, 2021(%)

Methodology

For the Global Microgrid Control System Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:

1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.

2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Microgrid Control System Market.

3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.

4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.

Analyst Support

Customization Options

With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Microgrid Control System Market:

Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.

Regional Analysis: Further analysis of the Global Microgrid Control System Market for additional countries.

Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.

Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.

Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.

Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.

Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.

Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.

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FAQs

Microgrid Control System Market size was valued at USD 2.47 billion in 2021 and is poised to grow from USD 2.8 billion in 2022 to USD 7.5 billion by 2030, growing at a CAGR of 13.3% in the forecast period (2023-2030).

The microgrid control systems market is relatively less competitive due to the substantial initial investments required to establish a firm in the industry. Due to the existence of numerous new and existing companies, the worldwide microgrid control system market is projected to experience severe competition. The top players are constantly implementing a variety of tactics to improve their penetration, including market collaboration and the launch of new products. 'ABB Ltd.', 'Schneider Electric SE', 'Siemens AG', 'Honeywell International Inc.', 'Eaton Corporation Plc', 'General Electric Company', 'Spirae, LLC', 'Schweitzer Engineering Laboratories, Inc.', 'Power Analytics Corporation', 'Exelon Corporation', 'Hitachi, Ltd.', 'S&C Electric Company', 'Emerson Electric Co.', 'Advanced Microgrid Solutions, LLC', 'Northern Power Systems Corp.', 'Opus One Solutions Energy Corp.', 'Toshiba Corporation', 'Green Energy Corp.', 'PowerSecure International, Inc.', 'Rockwell Automation, Inc.'

The majority of global industries aim to cut their energy usage in order to lower carbon dioxide emissions and operating expenses because it is estimated that global carbon emissions will reach 23% by 2050. The market for microgrid control systems is projected to expand significantly as a result of these systems' ability to both significantly lower energy costs and boost industry productivity. Additional industries are utilizing additional storage in microgrid control systems to handle backup needs and to supply extra energy to systems for their effective and efficient operation in an effort to lower operating costs. Power outages are quite common in a place like India. The entire planet experiences a daily power dim-out of 1 lakh MW. The microgrid control system has been demonstrated to be more effective when compared to typical backup systems. Additionally, the capability of microgrids to operate autonomously for extended periods of time while still supplying enough power.

The development of renewable energy technology was sparked by the last few decades' rising energy demand and climatic changes that raised the amount of carbon dioxide in the atmosphere. However, the addition of these distributed generating sources to the grid has had a negative effect on the current system's integrated functionality. The microgrid concept, which would enable the existing system to accommodate further integration of renewable energy sources into it, is a potential remedy for this issue. Depending on the power quality concerns and conditions, the Microgrid will either operate in islanded mode or in grid connected mode. Control of the microgrid is crucial in both scenarios. Different control solutions for Microgrid have been presented by several researchers under varied circumstances. These factors are expected to increase the adoption of microgrid control systems, thus fueling the growth of the market globally.

Based on the region, the North American region is projected to dominate the global microgrid control system market with respect to market share. This is due to the growing focus on grid modernization in the region. Due to increased investments in the country's grid technology update, the United States is predicted to dominate the North American microgrid control system market. As the number of smart grid projects in Canada has increased, the market has been growing. The market in North America is also projected to continue to grow as a result of the implementation of a strict government regulatory framework.

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