Microgrid Control System Market Size, Share & Industry Analysis By Type (On-Grid, Off-Grid), By Application (Hardware, Software), By Ownership (Private, Public), By End-User (Residential and Commercial, Industrial, Utility)And Regional Forecast, 2024-2032

The microgrid guarantees power supply in the event of a power outage or power outage. It also shares the load connected to the primary grid and provides additional support. As the demand for electricity in rural areas has increased, the adoption rate of microgrid control systems has increased. Microgrids are deployed in many areas and require efficient and reliable control systems that can handle the complexity of these new systems as they integrate with new technologies such as fuel cells.

Growing measures to protect the environment in line with strict regulations that limit greenhouse gas emissions have prompted the industry to implement efficient energy conservation systems. The restructuring of operations and regulations in significant energy markets was at the heart of this evolution, supported by continuous product development in technological efficiency, flexibility, and performance. Moreover, advanced distributed power generation systems will drive the microgrid control system market in line with the rapid growth of renewable power infrastructure.

• Germany announced a carbon neutrality target by 2050. It further announced a 100 GW solar capacity target by 2030.


• The United Arab Emirates announced that the contribution of renewable energy in the total energy mix is aimed to be 50% by 2050. This would reduce UAE’s carbon footprint due to power generation by 70%.

However, higher implementation costs can hinder the market growth. Since these systems are relatively new, they have ongoing requirements for maintenance and require skilled personnel to solve technical problems. These factors stand in the way of market growth.

Asia Pacific region is anticipated to account for the largest market size during the forecast period. Countries like China and India invest heavily in adjusting and upgrading their existing electrical networks in their electrification projects to meet increasing electricity demand. Factors such as increased power consumption, government orders for energy efficiency; the increased influx of renewable resources in the energy mix; innovation, modernization, and upgrades of aging grid infrastructure are microgrid control in the region To lead the system market.

• According to the Statistical Survey of World Energy, Asia Pacific accounted for 253.25 exajoules of primary energy consumption. The region generated 12919.3 TWh of electricity in 2020. Further, the region holds a renewable energy consumption of  12.36 exajoules as of 2020.

IMPACT OF COVID-19 ON THE MICROGRID CONTROL SYSTEM MARKET

The microgrid control system market is expected to take a small amount of time before recovering from the impact of the COVID-19 pandemic due to increasing renewable energy efforts globally. The easing restrictions, which have helped industries restart, are anticipated to create a surge in electricity demand.

• According to the IEA, the electricity demand will grow by 3% in 2021 to create a modest rebound globally.

As the electricity demand rises, the microgrid control system demand is anticipated to increase rapidly.

KEY INSIGHTS

The report will cover the following key insights:

• Recent Advancements in Microgrid Control System


• Key Industry Trends


• Regulatory Landscape for Microgrid Control System


• Key Industry Developments (Mergers, Acquisitions, and Partnerships)


• Impact of COVID-19 on the Market

ANALYSIS BY APPLICATION

The microgrid control system market is segmented into hardware and software based on application. The hardware sector is expected to grow most rapidly during the forecast period. The hardware segment includes CPU modules, digital input modules, digital output modules, analog input/output modules, local controllers, data loggers, data recorders, relays, meters, and communication networks. The rising number of microgrid projects in large power plants and the high demand for process industries such as manufacturing, oil and gas, mining, steel, and chemicals will lead the hardware sector in the microgrid control system market. Developing countries in the Asia-Pacific are the fastest-growing markets in this sector.

REGIONAL ANALYSIS

North America is one of the most lucrative markets for microgrid control systems because replacing and refurbishing existing infrastructure is an essential requirement in the local utility grid scenario. Meanwhile, Europe is another primary market for microgrid control systems. A new focus on renewable energy sources is being developed in countries such as Germany and the UK. Attractive incentives in the form of feed-in fees, tax credits, and maturity of the technology at a commercial scale have enabled investors and project developers to adopt microgrid control systems.  

KEY PLAYERS COVERED

The report will include profiles of key players such as Emerson Commercial & Residential Solutions, GE, Siemens, ABB, Eaton, Schneider Electric, Spirae, Schweitzer Engineering Laboratories (SEL), ETAP, S&C Electric Company, Woodward, Inc., PowerSecure, Inc., RTSoft, and Ontech Electric Corporation.

SEGMENTATION

KEY INDUSTRY DEVELOPMENTS

• Spanish PV specialist Gran Solar France Independent Power Generation Company Total Eren received a 25-year concession in an Ecuadorian bid to construct and operate the Conolophus solar plus storage system in August 2021. Also, part of this project is the placement of the central controller in the microgrid. A system that integrates all existing and future generations and storage plants to reduce diesel consumption in the islands.


• On September 9, 2021, Borqs Technologies, Inc., a global provider of Internet of Things (IoT) software and integrated products and a portfolio company of Qualcomm Technologies, announced the signing of a preliminary binding term list to acquire a 51% stake in Holu Hou Energy LLC. HHE is the only company in the US market that provides innovative microgrid function and the first company to open a broad MDU market to solar power generation.