Global Microgrid Control System Market – Industry Trends and Forecast to 2029

Global Microgrid Control System Market, By Grid Type (On-Grid, Off-Grid), Ownership (Public, Private), Component (Hardware, Software), End-Use (Utilities, Campuses and Institution, Commercial and Industrial, Others) – Industry Trends and Forecast to 2029

Market Analysis and Size

Around 18 percent of the world's population did not have access to electricity as of 2013, making them totally dependent on solid fuels like coal and wood as well as liquid fuels like kerosene for lighting. The microgrid control system has increasingly been quickly taking over owing to the surging need for reliable and secure power supply. Additionally, prominent market players have invested in expansion and launched new products to get a competitive edge in the sector. These moves will help the market develop even during the anticipated period.

Global microgrid control system market was valued at USD 2,450.00 million in 2021 and is expected to reach USD 3564.97 million by 2029, registering a CAGR of 4.8% during the forecast period of 2022-2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes technological advancements, regulatory framework, PESTEL, porter's five forces analysis, industry standards-at a glance, raw material costs/ operational expenditure-overview, supply chain analysis, vendor selection criteria, pricing analysis, production analysis, and climate chain scenario.

Market Definition

A local distribution grid, commonly referred to as a "Micro grid," can minimize its overall energy costs by integrating and optimizing energy resources with the help of the Micro grid Control System (MCS). To optimize the performance of a local microgrid and lower total cost of ownership, the MCS is a straightforward but efficient way to combine DERs (Distributed Energy Resources) based on fossil fuels and DERs based on renewable energy, and energy storage.

Report Scope and Market Segmentation

Microgrid Control System Market Dynamics

This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:

Drivers

• Increasing Cases of Power Blackouts

Power outages and blackouts are very common in developing and underdeveloped nations. For instance, India experiences a daily power outage of roughly 30,000 MW. When compared to traditional backup techniques, microgrids offer more effective backup solutions. Microgrids can function independently from the main grid and offer backup power for longer periods. The market for microgrid control systems is expected to grow as enterprises and consumers adopt microgrid backup solutions more frequently.  Consequently, these beneficial properties ultimately drives the demand for microgrid control system, thus accelerating the market growth.

• Growth of Private Microgrid Control System

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. Many commercial companies have set up power microgrid control systems to meet the domestic electricity demand thanks to rising primary energy consumption and government financial incentives. This expansion is then further linked to increased electrification project investments, which heavily utilize the microgrid technology.

Furthermore the incorporation of renewable energy sources and rise in the energy demand and limitations of space availability in densely populated urban areas will drive industry growth. Moreover, factors such as the development of a robust commercial and industrial sector base also accelerate market growth.

Opportunities

• Various Developments and Advancements

Furthermore, various developments coupled with introduction of advanced technologies by the market players further extend profitable opportunities to the market players in the forecast period of 2022 to 2029. This factor therefore offers lucrative growth opportunities for the market.

• Favourable Government Policies

A number of government policies largely supports the greener energy programs. As a result, the market is presented with a number of chances due to the increase in various government policies as well as the legislation linked to greener energy initiatives and reduction in carbon footprint.

Restraints/Challenges

• High Capital Costs

The microgrid control system's huge installation and maintenance cost further contributes to the overall capital cost. This factor further prevents the implementation of the system even after various advantages. Therefore the global market is hampered by high costs of the microgrid control system.

• Security Complexities

The various cyber security issues faced by the consumers further decreases the system's adoption rate. Therefore, this factor will further pose as a serious challenge to the growth of the microgrid control system market.

This microgrid control system market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the microgrid control system market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

COVID-19 Impact on Microgrid Control System Market

The majority of the market's manufacturing, developing, production, and logistical divisions have had a very difficult time as a result of the coronavirus epidemic. People's ability to leave their houses has been restricted as a result of the policy of social isolation and lockdowns. But this pandemic has also given some sectors a chance to expand. Like how some businesses are absolutely unaffected by this pandemic. As a result, certain industries will see a decline in demand and growth, while others will see an increase in growth and indicate promising growth opportunities.

The coronavirus had a significant impact on the microgrid control system market. The market for micro-control grid systems has seen growing demand as a result of the rising demand for power. As a result, there is a greater need for micro-grid backup options because more people are working from home and require a steady and uninterrupted supply of electricity. However, these pandemic constraints have reduced the use of such systems and their backups in sectors like manufacturing, aviation, transportation, etc. However, there is a glimmer of hope that the market for microgrid control systems would boom once this restriction is eliminated.

Recent Development

• In May 2021, Ameresco, Inc., a top integrator of clean technologies with a focus on renewable and energy-efficient technologies, revealed plans for the imminent groundbreaking of its electrical distribution microgrid at Fort Hunter Liggett. The $21.6 million project will include the design and installation of a secure, islandable, and autonomous microgrid with controls and interconnection for new and existing generation and storage systems at the 165,000-acre U.S. Army Reserve training facility. This will support USAG Fort Hunter Liggett's goals to achieve Net Zero Energy and meet U.S. Army Directives to achieve Critical Mission Resiliency.

Global Microgrid Control System Market Scope

The microgrid control system market is segmented on the basis of grid type, ownership, component and end use. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Grid Type

• On-Grid
• Off-Grid

 Ownership

• Public
• Private

 Component

• Hardware
• Software

 End-Use

• Utilities
• Campuses and Institution
• Commercial and Industrial
• Others

Microgrid Control System Market Regional Analysis/Insights

The microgrid control system market is analysed and market size insights and trends are provided by country, grid type, ownership, component and end use as referenced above.

The countries covered in the microgrid control system market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Poland, Norway, Finland, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Nigeria, Algeria, Angola, Ghana, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

North America dominates the microgrid control system market in terms of market share and market revenue and will continue to flourish its dominance during the forecast period of 2022-2029. The market growth over this region is attributed to the implementation of a strict government regulatory framework within the region.

Asia-Pacific on the other hand, is estimated to show lucrative growth over the forecast period of 2022-2029, due to the massive investments in electricity grid upgrading and heavy investing in electrification projects in the region.

The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Microgrid Control System Market Share Analysis

The microgrid control system market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to microgrid control system market.

Some of the major players operating in the microgrid control system market are

• ABB (Switzerland)
• General Electric (U.S.)
• Siemens (Germany)
• Signify Holding (Netherlands)
• Eaton (Ireland)
• SEPCO (U.S.)
• Sol by Sunna  (U.S.)
• Saur Energy (India)
• Clear Blue Technologies Inc., (Canada)
• SunMaster Solar Lighting Co.,Ltd. (China)
• SolarOne Solutions, Inc. (U.S.)
• Best Solar Street Lights USA (U.S.)
• Solar Lighting International, Inc. (U.S.)
• Solutions B.V. (Netherlands)
• Azuri Technologies Ltd (Kenya)
• Sunna Design SA (France)
• Solektra (Africa)