“According to the research report, the global microgrid controller market was valued at USD 3.72 billion in 2021 and is expected to reach USD 20.68 billion by 2030, to grow at a CAGR of 22.0% during the forecast period.”
The latest study released by Polaris Market Research titled Microgrid Controller Market: By Size, Latest Trends, Share, Huge Growth, Segments, Analysis and Forecast, 2032 evaluates market size, trend, and forecast. The report deeps dive into market data by covering key business segments and wide scope geographies.
The report delivers significant research data and proof to be a ready-to-access and self-analyzed study for managers, analysts, industry experts, and other key people, assisting them in making crucial business decisions. The report comprises qualitative and quantitative information on the Microgrid Controller Market that provides historical data and growth forecast. It covers recent developments, technologies, and the changing investment structure of the market. The report is showcased with self-explained tables and charts in a presentable format.
The growing need for microgrids in the utility, defense, and many other sectors and the implementation of smart city projects in underdeveloped regions, as well as the upgrading and modernization of grid infrastructure, are other factors contributing to the market expansion.
In the case of power failure, the microgrid ensures a steady supply of electricity. It distributes the load and provides additional assistance when connected to the main grid. The adoption of microgrid controller has increased due to the need for rural electrification.
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The demand for a sustainable power supply, increased government spending, and a surge in the use of renewable energy sources are the factors responsible for market growth. In addition, the main purpose of microgrid controllers is to maximize energy output and improve microgrid performance, which is expected to accelerate market expansion.
Segments Covered in The Report
The segments and sub-section of the market are shown by product/service type, major applications/end-users, key players, and regions. Each market segment of Microgrid Controller Market and its sub-segments are examined, analyzed, and presented in this research report. This segmentation analysis aims to help market participants gain insight into influential categories to concentrate on increasing revenue.
Competitive Landscape
For the competitive landscape, the report also enlisted key players in the Microgrid Controller Market industry in terms of their market share and concentration ratio. The leading companies are described in detail so that readers can gain a better idea of their competitors and their competitive situation. Also, their company profile with separate SWOT Analysis, product/services specification, headquarters, downstream buyers, and upstream suppliers have been included in this report. Further, important strategies acquired by the major players, such as mergers & acquisitions, recent investments, and key development activity, are further highlighted in this Microgrid Controller Market report.
Top Key Players:
- ABB
- Caterpillar Inc.
- CleanSpark Eaton
- Encorp Emerson commercial & residential solutions
- General Electric
- Honeywell International
- Lockheed Martin
- Ontech Electric Corporation
- Opus One Solutions
- RTSoft
- Princeton Power Systems
- S&C Electric
- Schweitzer Engineering Laboratories
- Siemens
- Spirae
- Schweitzer Engineering Laboratories
- Woodward Inc
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Microgrid Controller Market Report Highlights
- The grid connected segment accounted for the largest revenue in 2021 owing to the increased use of renewable energy sources, including offshore wind energy plants. Large-scale grid connected microgrid networks are widely utilized by the military, and the defense sector, which has accelerated the market growth.
- The hardware segment is being driven by a surge in microgrid projects in large-scale power plants, and needs from a range of industries, including manufacturing, mining, chemical, and oil & gas.
- The adoption of microgrid technology, which allows buildings to continue utilizing their own power in the case of a grid outage, is the key factor driving the expansion of the commercial and industrial segment.
- With more investment in the smart microgrid control infrastructure, a larger dependence on renewable energy sources for power generation, and modernization and repairs of the region’s old grid infrastructure, the market in the Asia Pacific is anticipated to experience a higher CAGR during the forecast period.
- Additionally, the North American region is expected to grow during the forthcoming period owing to its high proportion of market leading companies and government initiatives supporting the development of microgrids in this region.
- Major players operating in the industry include ABB; Caterpillar Inc.; CleanSpark Eaton; Encorp Emerson commercial & residential solutions; General Electric; Honeywell International; Lockheed Martin; Ontech Electric Corporation;Opus One Solutions; RTSoft; Princeton Power Systems; S&C Electric; Schweitzer Engineering Laboratories; Siemens; Spirae; Schweitzer Engineering Laboratories; Woodward Inc.
Polaris Market Research has segmented the microgrid controller market report based on connectivity, offering, end-use, and region:
Microgrid Controller, Connectivity Outlook (Revenue – USD Billion)
- Grid Connected
- Off-grid
Microgrid Controller, Offering Outlook (Revenue – USD Billion)
- Hardware
- Software
- Services
Microgrid Controller, End-Use Outlook (Revenue – USD Billion)
- Commercial & Industrial
- Remote Areas
- Military
- Government
- Utilities
- Institutes & Campuses
- Healthcare
Microgrid Controller, Regional Outlook (Revenue – USD Billion)
- North America
- U.S
- Canada
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Netherlands
- Asia Pacific
- China
- India
- Japan
- South Korea
- Indonesia
- Malaysia
- Latin America
- Argentina
- Brazil
- Mexico
- Middle East & Africa
- UAE
- Saudi Arabia
- Israel
- South Africa
Key Questions Answered with This Study
- What makes the market feasible for long-term investment?
- What geographic region would have better demand for products/services?
- What opportunity emerging territory would offer to established and new entrants in the market?
- How influencing factors driving the demand for Microgrid Controller Market in the next few years?
- What is the impact analysis of various factors in the market growth?
- What strategies of major players help them acquire share in a mature market?
- What are the recent trends in the regional market?
- What will be the market-based future possibilities, development patterns, and Microgrid Controller Market elements?
Report Summary
Moreover, the study estimates the price and trend forecast, the sales and growth rate forecast, and the forecast of the production growth rate of the global and regional markets for Microgrid Controller Market for the forecast period. The analysis of the main raw materials, the analysis of the production cost structure, the analysis of the manufacturing process, and the analysis of the industrial chain have been given. Also, data points related to the product consumption value and the product consumption volume, along with the import and export status of the products, are included in this article.
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