New Analysis from Global Industry Analysts Reveals Steady Growth for Microgrid Control Systems, with the Market to Reach $4.4 Billion Worldwide by 2026

News provided by

Nov 03, 2021, 10:05 ET

SAN FRANCISCO, Nov. 3, 2021 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Microgrid Control Systems - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.

FACTS AT A GLANCE
Edition: 9; Released: October 2021
Executive Pool: 18934
Companies: 51 - Players covered include ABB Group; Eaton Corporation PLC; Exelon Corporation; General Electric Company; Hitachi Ltd.; Honeywell International, Inc.; Northern Power Systems Corporation; Pareto Energy; Princeton Power Systems; Siemens AG and Others.
Coverage: All major geographies and key segments
Segments: Grid Type (Off-Grid, and On-Grid); Component (Hardware, and Software); and Application (Utilities, Institutes & Campuses, Industrial & Commercial, and Other Applications)
Geographies: World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; and Rest of Europe); Asia-Pacific; Rest of World.

Complimentary Project Preview - This is an ongoing global program. Preview our research program before you make a purchase decision. We are offering a complimentary access to qualified executives driving strategy, business development, sales & marketing, and product management roles at featured companies. Previews provide deep insider access to business trends; competitive brands; domain expert profiles; and market data templates and much more. You may also build your own bespoke report using our MarketGlass™ Platform which offers thousands of data bytes without an obligation to purchase our report. Preview Registry

ABSTRACT-

Global Microgrid Control Systems Market to Reach US$4.4 Billion by the Year 2026
The new generation of microgrids are 'intelligent'. These advanced microgrids feature microgrid controller, which manages the batteries, generators and building energy systems in the neighborhood with greater level of sophistication. Modern microgrid control systems now need to intimately interface with multiple DER types, effectively commanding actions on a second-to-second basis by increasing generation, minimizing consumption and load shedding, or even closing down loads that are non-critical. There is growing demand for smart microgrid controller and control systems in the market. In response to the trend, hardware and software vendors and developers are focusing on developing easy to deploy, configure and implement solutions. There is high commercial value for compact microgrid controller that can be pre-programmed once to automatically control of all microgrid components and macrogrid interconnections. Also, solutions featuring common hardware, human machine interface (HMIs) and user-friendly engineering tools will enjoy a higher price premium with customers willing to pay more for simplified operation and maintenance of distributed energy resources. A notable example of a microgrid with an autonomous control system, GE voiced plans to develop innovative microgrid controller technology for the Renewable Energy Integration Demonstrator Singapore (REIDS) microgrid pilot project currently trialed on Semakau Island, Singapore. The microgrid controller is expected to play a vital role in optimizing energy mix based on distributed energy resources and loads, and to ensure reliable and economic operation while minimizing environmental impact.

Amid the COVID-19 crisis, the global market for Microgrid Control Systems estimated at US$2.3 Billion in the year 2020, is projected to reach a revised size of US$4.4 Billion by 2026, growing at a CAGR of 11.6% over the analysis period. Off-Grid, one of the segments analyzed in the report, is projected to grow at a 12.3% CAGR to reach US$3.3 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the On-Grid segment is readjusted to a revised 10.4% CAGR for the next 7-year period. This segment currently accounts for a 37.1% share of the global Microgrid Control Systems market.

The U.S. Market is Estimated at $866.2 Million in 2021, While China is Forecast to Reach $1 Billion by 2026
The Microgrid Control Systems market in the U.S. is estimated at US$866.2 Million in the year 2021. The country currently accounts for a 34.7% share in the global market. China, the world's second largest economy, is forecast to reach an estimated market size of US$1 Billion in the year 2026 trailing a CAGR of 14.9% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 8.4% and 9.7% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 8.6% CAGR while Rest of European market (as defined in the study) will reach US$1.2 Billion by the end of the analysis period. More

MarketGlass™ Platform
Our MarketGlass™ Platform is a free full-stack knowledge center that is custom configurable to today`s busy business executive`s intelligence needs! This influencer driven interactive research platform is at the core of our primary research engagements and draws from unique perspectives of participating executives worldwide. Features include - enterprise-wide peer-to-peer collaborations; research program previews relevant to your company; 3.4 million domain expert profiles; competitive company profiles; interactive research modules; bespoke report generation; monitor market trends; competitive brands; create & publish blogs & podcasts using our primary and secondary content; track domain events worldwide; and much more. Client companies will have complete insider access to the project data stacks. Currently in use by 67,000+ domain experts worldwide.

Our platform is free for qualified executives and is accessible from our website www.StrategyR.com or via our just released mobile application on iOS or Android

About Global Industry Analysts, Inc. & StrategyR™
Global Industry Analysts, Inc., (www.strategyr.com) is a renowned market research publisher the world`s only influencer driven market research company. Proudly serving more than 42,000 clients from 36 countries, GIA is recognized for accurate forecasting of markets and industries for over 33 years.

CONTACTS:
Zak Ali
Director, Corporate Communications
Global Industry Analysts, Inc.
Phone: 1-408-528-9966
www.StrategyR.com
Email: [email protected]

LINKS
Join Our Expert Panel
https://www.strategyr.com/Panelist.asp

Connect With Us on LinkedIn
https://www.linkedin.com/company/global-industry-analysts-inc./

Follow Us on Twitter
https://twitter.com/marketbytes

Journalists & Media
[email protected]

SOURCE Global Industry Analysts, Inc.