Microgrid Control Systems Market - Forecasts from 2019 to 2024
The microgrid control system market is projected to expand at a CAGR of 8.08% over the forecast period to reach US$2,378.748 million in 2024 from US$1,492.104 million in 2018. Microgrid Control System (MCS) enables distribution grid operators to integrate and optimize energy assets with an objective to reduce the overall energy cost for a local distribution grid, also known as a microgrid. The MCS provides a simple yet effective solution to integrate fossil fuel based Distributed Energy Resources (DERs), renewable DERs and energy storage to optimize the operation of a local microgrid with a goal to minimize the total cost of operation.
Rising investments in transmission and distribution infrastructure are one of the major drivers of the microgrid control systems market. Growing energy demand and lack of space availability due to increasing urbanization and growing population base are the factors boosting the demand for microgrid control systems. Favorable government initiatives and policies to expand the electricity access in remote areas will continue to drive the growth of the microgrid control system market during the forecast period. The US Department of Energy Smart Grid R&D program considers microgrids as a key building block for a smart grid and has established microgrid R&D as a key focus area.
By grid, the off-grid segment will witness a significant market growth between 2019 and 2024 owing to the growing electrification of remote areas, especially in developing economies. By ownership, the private segment is expected to hold a significant market share due to increased primary energy demand and government incentives for the private players. Geographically, APAC is projected to grow at a significant CAGR during the forecast period on account of a rapid rise in investments in energy infrastructure projects in order to meet the growing electricity demand in countries like China and India.
DRIVERS
Rising investment in transmission and distribution infrastructure
Growing energy demand
Favorable government policies for greater access to electricity in remote areas
RESTRAINTS
Resistance from utilities in managing the complexities of microgrids
Regulatory issues
INDUSTRY UPDATE
In November 2018, San Diego Gas & Electric (SDGE) issued notice signaling its plan to release a request for proposals (RFP) seeking a microgrid controller to help it manage energy storage and renewable energy.
IPERC, a subsidiary of S&C Electric, won a significant Department of Defense (D0D) designation for its cyber secure military microgrid controller, in July 2017.
In August 2016, two significant players in the microgrid industry, S&C Electric and IPERC (Intelligent Power & Energy Research Corporation) announced that they will merge.
Segmentation
The microgrid control system market has been analyzed through the following segments:
By Component
Hardware
Software
By Grid
On-Grid
Off-Grid
By Ownership
Private
Public
By Geography
North America
USA
Canada
Mexico
South America
Brazil
Argentina
Others
Europe
Germany
France
United Kingdom
Spain
Others
Middle East and Africa
Saudi Arabia
Israel
Others
Asia Pacific
China
Japan
South Korea
India
Others
Rising investments in transmission and distribution infrastructure are one of the major drivers of the microgrid control systems market. Growing energy demand and lack of space availability due to increasing urbanization and growing population base are the factors boosting the demand for microgrid control systems. Favorable government initiatives and policies to expand the electricity access in remote areas will continue to drive the growth of the microgrid control system market during the forecast period. The US Department of Energy Smart Grid R&D program considers microgrids as a key building block for a smart grid and has established microgrid R&D as a key focus area.
By grid, the off-grid segment will witness a significant market growth between 2019 and 2024 owing to the growing electrification of remote areas, especially in developing economies. By ownership, the private segment is expected to hold a significant market share due to increased primary energy demand and government incentives for the private players. Geographically, APAC is projected to grow at a significant CAGR during the forecast period on account of a rapid rise in investments in energy infrastructure projects in order to meet the growing electricity demand in countries like China and India.
DRIVERS
Rising investment in transmission and distribution infrastructure
Growing energy demand
Favorable government policies for greater access to electricity in remote areas
RESTRAINTS
Resistance from utilities in managing the complexities of microgrids
Regulatory issues
INDUSTRY UPDATE
In November 2018, San Diego Gas & Electric (SDGE) issued notice signaling its plan to release a request for proposals (RFP) seeking a microgrid controller to help it manage energy storage and renewable energy.
IPERC, a subsidiary of S&C Electric, won a significant Department of Defense (D0D) designation for its cyber secure military microgrid controller, in July 2017.
In August 2016, two significant players in the microgrid industry, S&C Electric and IPERC (Intelligent Power & Energy Research Corporation) announced that they will merge.
Segmentation
The microgrid control system market has been analyzed through the following segments:
By Component
Hardware
Software
By Grid
On-Grid
Off-Grid
By Ownership
Private
Public
By Geography
North America
USA
Canada
Mexico
South America
Brazil
Argentina
Others
Europe
Germany
France
United Kingdom
Spain
Others
Middle East and Africa
Saudi Arabia
Israel
Others
Asia Pacific
China
Japan
South Korea
India
Others
1. INTRODUCTION
1.1. Market Overview
1.2. Market Definition
1.3. Scope of the Study
1.4. Currency
1.5. Assumptions
1.6. Base, and Forecast Years Timeline
2. RESEARCH METHODOLOGY
2.1. Research Design
2.2. Secondary Sources
3. KEY FINDINGS
4. MARKET DYNAMICS
4.1. Market Segmentation
4.2. Market Drivers
4.3. Market Restraints
4.4. Market Opportunities
4.5. Porter’s Five Forces Analysis
4.5.1. Bargaining Power of Suppliers
4.5.2. Bargaining Power of Buyers
4.5.3. Threat of New Entrants
4.5.4. Threat of Substitutes
4.5.5. Competitive Rivalry in the Industry
4.6. Life Cycle Analysis - Regional Snapshot
4.7. Market Attractiveness
5. MICROGRID CONTROL SYSTEM MARKET BY COMPONENT
5.1. Hardware
5.2. Software
6. MICROGRID CONTROL SYSTEM MARKET BY GRID
6.1. On-grid
6.2. Off-grid
7. MICROGRID CONTROL SYSTEM MARKET BY OWNERSHIP
7.1. Private
7.2. Public
8. MICROGRID CONTROL SYSTEM MARKET BY GEOGRAPHY
8.1. North America
8.1.1. USA
8.1.2. Canada
8.1.3. Mexico
8.2. South America
8.2.1. Brazil
8.2.2. Argentina
8.2.3. Others
8.3. Europe
8.3.1. Germany
8.3.2. France
8.3.3. United Kingdom
8.3.4. Spain
8.3.5. Others
8.4. Middle East and Africa
8.4.1. Saudi Arabia
8.4.2. Israel
8.4.3. Others
8.5. Asia Pacific
8.5.1. China
8.5.2. Japan
8.5.3. South Korea
8.5.4. India
8.5.5. Others
9. COMPETITIVE INTELLIGENCE
9.1. Competitive Benchmarking and Analysis
9.2. Recent Investments and Deals
9.3. Strategies of Key Players
10. COMPANY PROFILES
10.1. Eaton
10.2. Siemens
10.3. General Electric Company
10.4. Hitachi Ltd.
10.5. Exelon Corporation
10.6. Honeywell International Inc
10.7. Spirae, LLC
10.8. Woodward, Inc
10.9. PowerSecure, Inc.
10.10. Schneider Electric
LIST OF FIGURES
LIST OF TABLES
1.1. Market Overview
1.2. Market Definition
1.3. Scope of the Study
1.4. Currency
1.5. Assumptions
1.6. Base, and Forecast Years Timeline
2. RESEARCH METHODOLOGY
2.1. Research Design
2.2. Secondary Sources
3. KEY FINDINGS
4. MARKET DYNAMICS
4.1. Market Segmentation
4.2. Market Drivers
4.3. Market Restraints
4.4. Market Opportunities
4.5. Porter’s Five Forces Analysis
4.5.1. Bargaining Power of Suppliers
4.5.2. Bargaining Power of Buyers
4.5.3. Threat of New Entrants
4.5.4. Threat of Substitutes
4.5.5. Competitive Rivalry in the Industry
4.6. Life Cycle Analysis - Regional Snapshot
4.7. Market Attractiveness
5. MICROGRID CONTROL SYSTEM MARKET BY COMPONENT
5.1. Hardware
5.2. Software
6. MICROGRID CONTROL SYSTEM MARKET BY GRID
6.1. On-grid
6.2. Off-grid
7. MICROGRID CONTROL SYSTEM MARKET BY OWNERSHIP
7.1. Private
7.2. Public
8. MICROGRID CONTROL SYSTEM MARKET BY GEOGRAPHY
8.1. North America
8.1.1. USA
8.1.2. Canada
8.1.3. Mexico
8.2. South America
8.2.1. Brazil
8.2.2. Argentina
8.2.3. Others
8.3. Europe
8.3.1. Germany
8.3.2. France
8.3.3. United Kingdom
8.3.4. Spain
8.3.5. Others
8.4. Middle East and Africa
8.4.1. Saudi Arabia
8.4.2. Israel
8.4.3. Others
8.5. Asia Pacific
8.5.1. China
8.5.2. Japan
8.5.3. South Korea
8.5.4. India
8.5.5. Others
9. COMPETITIVE INTELLIGENCE
9.1. Competitive Benchmarking and Analysis
9.2. Recent Investments and Deals
9.3. Strategies of Key Players
10. COMPANY PROFILES
10.1. Eaton
10.2. Siemens
10.3. General Electric Company
10.4. Hitachi Ltd.
10.5. Exelon Corporation
10.6. Honeywell International Inc
10.7. Spirae, LLC
10.8. Woodward, Inc
10.9. PowerSecure, Inc.
10.10. Schneider Electric
LIST OF FIGURES
LIST OF TABLES
