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

SAN FRANCISCO, Feb. 23, 2022 /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.

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Edition: 10; Released: February 2022
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.

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ABSTRACT-

Global Microgrid Control Systems Market to Reach US$4.4 Billion by the Year 2026

Microgrid Control System (MCS) allows operators of distribution grids in integrating and optimizing energy assets for reducing the total energy costs for a particular grid for local distribution and which is called a microgrid. 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$2.7 Billion in the year 2022, 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 $937 Million in 2022, While China is Forecast to Reach $1 Billion by 2026

The Microgrid Control Systems market in the U.S. is estimated at US$937 Million in the year 2022. 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

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

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SOURCE Global Industry Analysts, Inc.