Global Microgrid Control Systems Strategic Business Report 2023: Power Outages & Its Impact on Digitalized Enterprises Spurs Establishment of Microgrids

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Jul 05, 2023, 17:45 ET

DUBLIN, July 5, 2023 /PRNewswire/ -- The "Microgrid Control Systems: Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.

The global market for Microgrid Control Systems estimated at US$2.8 Billion in the year 2022, is projected to reach a revised size of US$7.5 Billion by 2030, growing at a CAGR of 13.3% over the analysis period 2022-2030.

Off-Grid, one of the segments analyzed in the report, is projected to record 14% CAGR and reach US$5 Billion by the end of the analysis period.

Taking into account the ongoing post pandemic recovery, growth in the On-Grid segment is readjusted to a revised 12% CAGR for the next 8-year period.

The U.S. Market is Estimated at $943.5 Million, While China is Forecast to Grow at 16.5% CAGR

The Microgrid Control Systems market in the U.S. is estimated at US$943.5 Million in the year 2022. China, the world's second largest economy, is forecast to reach a projected market size of US$1.9 Billion by the year 2030 trailing a CAGR of 16.5% over the analysis period 2022 to 2030.

Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 9.9% and 11.2% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 10.1% CAGR.

Select Competitors (Total 69 Featured) -

ABB Ltd
Eaton Corporation Plc
Emerson Electric Co.
ETAP / Operation Technology, Inc.
General Electric Company
Ontech Electric Corporation
Pareto Energy
PowerSecure, Inc.
RTSoft
S&C Electric Company
Schneider Electric SE
Schweitzer Engineering Laboratories, Inc.
Siemens AG
Siemens Energy Global GmbH & Co. KG
Spirae, LLC

Key Topics Covered:

I. METHODOLOGY

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW

Growing Investments in Modernization of Aging Energy Infrastructure Skewed Towards a Low Carbon Future Provides the Cornerstone for Growth in the Market
With Governments Forced to Address Power-Quality, Reliability & Sustainability Issues, Rising Investments in Energy Infrastructure to Benefit Demand for Energy Management & Control Systems/Solutions: Global Energy Investments (In US$ Billion) for the Years 2022, 2025, 2027 and 2029
Discussing Prognosis: Here's What Everyone Should Know About the Pandemic & the Global Economy
Mutating Coronavirus is the New Pandemic Challenge in 2022 - After Omicron, Comes Stealth Omicron Fueling Fresh Waves of Infections Across the Globe
With New Strains Emerging at an Alarming Rate, Focus Shifts to Booster Doses & Vaccine Tweaking Amid Waning Vaccine Immunity. But How Practical Is It to Implement Them?
With Vaccinated Population Showing Signs of Declining Clinical Protection, Booster Doses Are Emerging Into a Necessity to Restore Vaccine Effectiveness, but this Strategy is Not Within Reach for Most Countries: Number of Booster Doses Administered Per 100 People by Country as of January 2022
At the Dawn of 2022 After Numerous New Strains & Millions of Deaths, Challenges in Vaccine Production, Supply, Access & Technology Sharing Continue to Remain
How & When Will the World Be Vaccinated? Global Number of Annual COVID-19 Vaccine Doses (In Million) for Years 2020 through 2025 by Geographic Region/Country
Split Scenarios Unfold: The Great Vaccine Divide Emerges
With Low Vaccination Rates in Africa Emerging Into a Global Security Issue, Vaccine Imbalances Will Stretch the Pandemic Further into 2022: Global Percentage (%) of Population Administered With Vaccines by Region as of January 2022
The Great Vaccine Controversy & Growing Anti-Vaccination Movement Aggravates the Divide Between the Vaccinated & the Unvaccinated
Top Reasons for Unwillingness & Uncertainty Towards COVID-19 Vaccines Among the By-Choice Unvaccinated People: % Share of Various Reasons as of the Year 2022
The Verdict's Out - The Pandemic Cannot Be Ended But Can be Maneuvered to Become Endemic and More Manageable
Amid this Prolonged Pandemic, Why Should Businesses Care About Progress on Vaccinations?
Dragging Pandemic, New Virus Strains, Fresh Societal Risks, Renewed Economic Disruptions Bring Weaker Growth in 2022 as Compared to 2021
Uncertain, Uneven & Bumpy Recovery Shaped by New Variants Comes Into Play, Lowering Growth Expectations for 2022 & 2023: World Economic Growth Projections (Real GDP, Annual % Change) for the Years 2020, 2021, 2022 and 2023
Persistently High Unemployment Indicates Long-Term Scarring from the COVID-19 Pandemic, Wage Inequality & Uneven Economic Recovery. Tough Times to Continue for Industries Reliant on Consumer Discretionary Incomes Until 2023: Global Number of Unemployed People (In Million) for Years 2019 Through 2023
New Bursts of Inflation Caused by Russia-Ukraine War Threatens Economic Recovery
Competition
Microgrid Control Systems - Global Key Competitors Percentage Market Share in 2022 (E)
Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)
Microgrid & Microgrid Control Systems: Definition, Importance & Benefits
Recent Market Activity
Innovations

2. FOCUS ON SELECT PLAYERS

3. MARKET TRENDS & DRIVERS

Microgrid Controllers, a Vital Piece of Hardware Attracting Increased R&D
The Rise of Blockchain Microgrids Pushes Up the Importance, Complexity & Monetary Value of Effective Microgrid Control
The Move to Monetize Microgrids Sets Into Motion the Rise of Blockchain Microgrids With Complex Control, Processing & Management Requirements: Global Value of Blockchain Investments in the Energy Industry (In US$ Million) for the Years 2017, 2019, 2022 and 2024
Supported by Myriad Benefits Automated Microgrid Control Systems Grow in Popularity
IoT Revolutionizes Microgrid Management
IoT Disrupts the Distributed Energy Space by Turning Microgrids into Smart Systems Capable of Maximizing Energy Efficiency & Energy Sharing & Trading: Global Value of IoT Investments in the Energy Industry (In US$ Billion) for the Years 2017, 2019, 2022 and 2024
Sharp Increase in Cyberattacks Targeting Power Grids Worldwide Highlights the Importance of Microgrid Cybersecurity
Continuous Innovations in Microgrid Control Systems Remains Crucial to Market Growth
Hardware-in-the-Loop (HIL): A Key Innovation in Micro-Grid Control System
AI and Microgrids. Here's What's Happening
AI and the Microgrid Controller, the New Pair
Cloud Based Management of Microgrids Attract Interest in Community Microgrids
A Peek Into the Disruptive Rise of Hybrid Microgrid
Rising Number of Microgrids Translates Into Increased Opportunities for Control Systems. So What's Driving the Microgrid Market?
Power Outages & Its Impact on Digitalized Enterprises Spurs Establishment of Microgrids
Average Number of Power Outages in Firms Per Month, Worldwide by Region: 2021
Cost of Load Failures Due to Power Disruptions/Outages in US$ Per Hour by Select Commercial Activity
Annual Value Lost Due to Electrical Outages as a Percentage (%) of Sales of Affected Firms
Investments in Decentralized Energy (DE) Drives Deployment of Microgrids
Growing Value of Distributed Energy Resources (DERs) in Dual Addressal of Environmental & Energy Sustainability Challenges Drives Demand for Microgrids: Global Distributed Generation (DG) Market (In US$ Billion) for Years 2020, 2022 and 2024
Smart Cities Drive Focus on Engineering Microgrids to Achieve Slated Energy Goals
Focus on Reshaping City Resilience to Future Pandemics & Crisis Will Spur Rejuvenated Spending on Smart City Projects in the Post COVID-19 Period, Providing a Goldmine of Opportunities for Microgrids: Global Smart City Spending (In US$ Billion) for the Years 2021, 2024 & 2027
Private Sector Microgrids Set to Proliferate. Here's Why
Chronic Public Sector Underfunding for Infrastructure Development Drives Private Participation & Investments in Distributed Energy Via Private Microgrids: Cumulative Global Infrastructure Spending Gap 2018-2040 (In US$ Billion)
U.S. Government Budget Deficits (In US$ Billion)
Robust Outlook for Renewable Energy Post Pandemic to Support Mushrooming of Renewable Microgrids
Pandemic Doubles Focus on Renewables
Conclusion
Microgrids Are the Backbone Infrastructure that Makes Intermittent Renewable Energy More Resilient & Practically Deployable in the Real World Scenario: Global Projected Net Capacity Additions of Renewable Energy (In GW) for the Period 2019 to 2024
EVs Create the Need for Microgrids for Fleet Electrification
Growing Demand for EVs Brings Good News for Microgrids: Number of EVs On Road Worldwide by Type (In Units) for the Years 2019 and 2022
Growing Focus on Disaster Preparedness Drives the Importance of Microgrids
COVID-19 Provides a Launchpad for the Rise of Home/Residential Microgrid
Microgrid Expansions Get a Boost from Favorable Regulations & Growing Popularity
Growing Pressure on the US Army to Fight Climate Change Leads to Increased Installation of Microgrids
Robust Defense Spending Opens Opportunities for Increased Investments in Military Energy Independence & Microgrids: World Military Expenditure (In US$ Billion) for Years 2019, 2020 and 2021

4. GLOBAL MARKET PERSPECTIVE

III. MARKET ANALYSIS

IV. COMPETITION

For more information about this report visit https://www.researchandmarkets.com/r/imaexy

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