Global Microgrid Control System Market to 2023: Opportunities in Rising Electrification Projects & Advancement in IoT as Well as Communication Technologies
DUBLIN, Jan 15, 2019 /PRNewswire/ --
The "Microgrid Control System Market by Grid-Type (On-Grid and Off-grid), Component (Hardware and Software), Ownership (Private and Public), End-User (Utilities, Campuses and institutions, Commercial, and Industrial), and Region - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.
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The microgrid control system market is projected to reach USD 3.6 billion by 2023, from an estimated USD 2.0 billion in 2018 at a CAGR of 13.01%.
This growth can be attributed to the increasing demand for reliable and secure power supply worldwide and increasing government investments in microgrid projects and growing adoption of renewable resources. However, governmental laws and regulations and high installation and maintenance cost of the microgrid control system can hinder the growth of the market.
A microgrid control system plays a crucial role in enabling the integration and use of renewable power such as rooftop solar and wind, reducing costs, and enhancing system resilience. There is a growing demand for microgrid control systems in the market as they enhance power reliability for users owing to redundant distribution, smart switches, intelligence and automation, local power generation, and the ability to disconnect/island the microgrid from the macrogrid. This also helps eliminate or substantially minimize blackouts and power disturbances.
Moreover, rising clean energy projects and high emphasis on reducing carbon emissions and advancement in IoT, as well as communication technologies and growing adoption of renewable energy sources, are some of the major drivers of the microgrid control system market. Microgrid control system caters to various verticals such as educational campuses and institutes, commercial and industrial, military, healthcare, utilities, electric vehicles, and data centers.
The microgrid control system market is segmented on the basis of grid type, component, ownership, end user, and region. The study covers the key regions of North America, Asia Pacific, Europe, South America, and the Middle East & Africa. Asia Pacific is expected to hold the largest market share during the forecast period. According to the Asian Development Bank, Indonesia aims to achieve 90% electrification rate by 2025, with countries such as the Philippines and Malaysia having similar plans.
Therefore, growing energy demand, power generation capacity additions, increasing investments in the electrification projects, and increasing emphasis on renewable energy generation are the major factors driving the microgrid control system market in the Asia Pacific region. Countries such as China, Japan, and India are investing in grid expansion projects to increase the distribution of grid reliability.
Major factors driving the growth of the microgrid control system market include increasing government investments in microgrid projects and increasing demand for reliable and secure power supply worldwide. Legal and regulatory uncertainty could act as a restraint for the growth of the microgrid control system market.
The major players in the microgrid control system market are
-- ABB
-- Eaton Corporation
-- Emerson
-- Etap
-- General Electric
-- Ontech Electric Corporation
-- Powersecure, Inc.
-- RT Soft
-- S&C Electric Company
-- Schneider Electric
-- Schweitzer Engineering Laboratories (Sel)
-- Siemens
-- Spirae
-- Woodward, Inc.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Attractive Opportunities in the Microgrid Control System Market, 2018-2023
4.2 Microgrid Control System, By Grid Type
4.3 Microgrid Control System Market, By Ownership
4.4 Microgrid Control System, By Component
4.5 Microgrid Control System Market, By End-User
4.6 Asia Pacific Microgrid Control System Market
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Increasing Demand for Reliable and Secure Power Supply Worldwide
5.2.1.2 Increasing Government Investments in Microgrid Projects
5.2.1.3 Growing Adoption of Renewable Energy Sources
5.2.2 Restraints
5.2.2.1 Governmental Laws and Regulation Uncertainty
5.2.2.2 High Installation and Maintenance Cost of the Microgrid Control System
5.2.3 Opportunities
5.2.3.1 Rising Electrification Projects
5.2.3.2 Advancement in Iot as Well as Communication Technologies
5.2.4 Challenges
5.2.4.1 Cyber Security Issues
6 Microgrid Control System Market, By Ownership
6.1 Introduction
6.2 Public
6.3 Private
7 Microgrid Control System Market, Grid Type
7.1 Introduction
7.2 On-Grid
7.3 Off-Grid
8 Microgrid Control System Market, By Component
8.1 Introduction
8.2 Hardware
8.3 Software
9 Microgrid Control System Market, By End-User
9.1 Introduction
9.2 Utilities
9.3 Campuses & Institutions
9.4 Commercial & Industrial
9.5 Others
10 Microgrid Control System Market, By Region
10.1 Introduction
10.2 Asia Pacific
10.2.1 By Grid Type
10.2.2 By Component
10.2.3 By Ownership
10.2.4 By End-User
10.2.5 By Country
10.2.5.1 China
10.2.5.1.1 Increasing Investment in Grid Expansion
10.2.5.2 India
10.2.5.2.1 Rising Investments in Energy-Efficiency Services
10.2.5.3 Japan
10.2.5.3.1 Reducing Power Dependence From Nuclear Sources After Fukushima Incident and Increased Demand for Grid Infrastructure to Connect Renewables to the Grid
10.2.5.4 Australia
10.2.5.4.1 Increasing Renewable Power Generation and Focus on Improving Energy Efficiency
10.2.5.5 Rest of Asia Pacific
10.3 Europe
10.3.1 By Grid Type
10.3.2 By Component
10.3.3 By Ownership
10.3.4 By Grid Type
10.3.5 By Country
10.3.5.1 Russia
10.3.5.1.1 Increasing Focus on Clean Energy Production and Rising Government Incentives in the Energy Sector
10.3.5.2 Germany
10.3.5.2.1 Highest Electric Vehicle Seller in the Industrial Sector Which Creates Opportunities for More Deployment of A Microgrid Control System
10.3.5.3 UK
10.3.5.3.1 Feed-In Tariff With A Contract for Difference to Encourage Renewable Electricity Generation for Large-Scale Installations
10.3.5.4 France
10.3.5.4.1 Reducing Power Dependence From Nuclear Sources and Increased Demand for Grid Infrastructure to Connect to Distributed Generation Resources78
10.3.5.5 Rest of Europe
10.4 North America
10.4.1 By Grid Type
10.4.2 By Component
10.4.3 By Ownership
10.4.4 By End-User
10.4.5 By Country
10.4.5.1 US
10.4.5.1.1 Increasing Investments for Replacing and Refurbishing the Aged Electric Infrastructure
10.4.5.2 Canada
10.4.5.2.1 Huge Investments in Renewable Energy and Replacement of Aging Power Equipment
10.4.5.3 Mexico
10.4.5.3.1 Increased Focus to Reduce Greenhouse Gas Emissions
10.5 South America
10.5.1 By Grid Type
10.5.2 By Component
10.5.3 By Ownership
10.5.4 By End-User
10.5.5 By Country
10.5.5.1 Brazil
10.5.5.1.1 Increasing Dependence on the Hydroelectric Power Source, Driving the Demand for Microgrid Control Systems
10.5.5.2 Argentina
10.5.5.2.1 Increased Focus on Power Generation From Sources Such as Wind, Solar, Biomass, Biogas, and Small-Scale Hydro
10.5.5.3 Rest of South America
10.6 Middle East & Africa
10.6.1 By Component
10.6.2 By Ownership
10.6.3 By End-User
10.6.4 By Country
10.6.4.1 Saudi Arabia
10.6.4.1.1 Increased Investment in Power Generation Projects and Focus on Altering Its Power Generation Mix to Preserve Its Oil Exports
10.6.4.2 South Africa
10.6.4.2.1 Government Focusing on Reducing Carbon Dioxide Emissions as Well as Its Dependency on Coal for Poer Generation
10.6.4.3 Nigeria
10.6.4.3.1 Significant Investments in Off-Grid Electricity Generation Drive the Microgrid Control System Market
10.6.4.4 Rest of the Middle East & Africa
11 Competitive Landscape
11.1 Overview
11.2 Ranking of Players and Industry Concentration, 2017
11.3 Competitive Scenario
11.3.1 Mergers & Acquisitions
11.3.2 Contracts & Agreements
11.3.3 New Product Developments
11.3.4 Investments & Expansions
11.3.5 Mergers & Acquisitions
11.3.6 Others
12 Company Benchmarking
12.1 ABB
12.2 General Electric
12.3 Siemens
12.4 Eaton Corporation
12.5 Emerson
12.6 Schneider Electric
12.7 Spirae
12.8 Schweitzer Engineering Laboratories (Sel)
12.9 Etap
12.1 S&C Electric Company
12.11 Woodward, Inc.
12.12 Powersecure, Inc.
12.13 Rt Soft
12.14 Ontech Electric Corporation
For more information about this report visit https://www.researchandmarkets.com/research/c4vcc7/global_microgrid?w=5
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