Dublin, Jan. 15, 2019 (GLOBE NEWSWIRE) -- The "Microgrid Control System Market by Grid-Type (On-Grid and Off-grid), Component (Hardware and Software), Ownership (Private and Public), End-User (Utilities, Campuses and institutions, Commercial, and Industrial), and Region - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.
The microgrid control system market is projected to reach USD 3.6 billion by 2023, from an estimated USD 2.0 billion in 2018 at a CAGR of 13.01%.
This growth can be attributed to the increasing demand for reliable and secure power supply worldwide and increasing government investments in microgrid projects and growing adoption of renewable resources. However, governmental laws and regulations and high installation and maintenance cost of the microgrid control system can hinder the growth of the market.
The off-grid segment is expected to be the fastest growing market in the microgrid control system from 2018 to 2023.
The off-grid segment is estimated to be the fastest growing segment during the forecast period. Remote/island/off-grid microgrids are mainly used to provide diverse power sources for geographically remote communities and developing countries. Along with the expansion of electricity infrastructure in developing countries, many remote microgrids are being designed to be self-sufficient to cater to complex setups such as remote islands or distant villages where transmission via traditional electric utility players is not viable.
Hardware: The fastest growing market for microgrid control system market.
The hardware segment, by component, is estimated to be the fastest growing segment during the forecast period. The hardware components of the microgrid control system include the physical components such as CPU module, digital input module, digital output module, analog input/output module, local controller, data logger, data recorder, relays, meters, and communication network.
The increasing number of microgrid projects in large power plants and high demand from process industries such as manufacturing, oil & gas sector, mining, steel, and chemical would drive the hardware segment of the microgrid control system market. A wide variety of sensors, switches, and other input devices are installed in the microgrid control system for load forecasting using weather and customer behavior forecast, renewable forecasting using detailed local forecast for sun and wind, network reconfiguration by adapting the network to dynamic loads and variations in generation to maintain grid stability, adaptive protection and control for faults (failures, lightning, and damages) that can come from the microgrid to the main grid or the other way around, fault calculation, Volt/VAR control local devices to maintain voltages within operating limits, DER (Distributed energy resources) dispatch, and control of all generation and storage assets to balance loads to balance supply.
Middle East & Africa: The fastest growing market for microgrid control system market.
The Middle East & Africa is estimated to be the fastest growing market for microgrid control systems in 2023 and is projected to grow at the highest CAGR during the forecast period. The Middle Eastern countries such as Saudi Arabia, the UAE, Qatar, and Kuwait have abundant natural resources such as crude oil & natural gas. Increase in population, urbanization, and the growth of the industrial sector have increased the demand for power in countries such as Saudi Arabia and the UAE.
Also, these countries are planning to restructure their power sector by encouraging private sector investments. The increasing generation capacity, focus on renewables and plans to increase the electrification rate are expected to drive the microgrid control system market in these regions.
The leading players in the microgrid control system market include ABB (Switzerland), GE (US), Siemens (Germany), Eaton (Ireland), Emerson (US), Schneider Electric (France), Spirae (US), Schweitzer Engineering Laboratories, Inc. (Washington), ETAP (US), S&C Electric (US), Woodward Inc (US), Powersecure (US), RTSoft (Germany), and Ontech Electric Corporation (China)
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Attractive Opportunities in the Microgrid Control System Market, 2018-2023
4.2 Microgrid Control System, By Grid Type
4.3 Microgrid Control System Market, By Ownership
4.4 Microgrid Control System, By Component
4.5 Microgrid Control System Market, By End-User
4.6 Asia Pacific Microgrid Control System Market
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Increasing Demand for Reliable and Secure Power Supply Worldwide
5.2.1.2 Increasing Government Investments in Microgrid Projects
5.2.1.3 Growing Adoption of Renewable Energy Sources
5.2.2 Restraints
5.2.2.1 Governmental Laws and Regulation Uncertainty
5.2.2.2 High Installation and Maintenance Cost of the Microgrid Control System
5.2.3 Opportunities
5.2.3.1 Rising Electrification Projects
5.2.3.2 Advancement in Iot as Well as Communication Technologies
5.2.4 Challenges
5.2.4.1 Cyber Security Issues
6 Microgrid Control System Market, By Ownership
6.1 Introduction
6.2 Public
6.3 Private
7 Microgrid Control System Market, Grid Type
7.1 Introduction
7.2 On-Grid
7.3 Off-Grid
8 Microgrid Control System Market, By Component
8.1 Introduction
8.2 Hardware
8.3 Software
9 Microgrid Control System Market, By End-User
9.1 Introduction
9.2 Utilities
9.3 Campuses & Institutions
9.4 Commercial & Industrial
9.5 Others
10 Microgrid Control System Market, By Region
10.1 Introduction
10.2 Asia Pacific
10.2.1 By Grid Type
10.2.2 By Component
10.2.3 By Ownership
10.2.4 By End-User
10.2.5 By Country
10.2.5.1 China
10.2.5.1.1 Increasing Investment in Grid Expansion
10.2.5.2 India
10.2.5.2.1 Rising Investments in Energy-Efficiency Services
10.2.5.3 Japan
10.2.5.3.1 Reducing Power Dependence From Nuclear Sources After Fukushima Incident and Increased Demand for Grid Infrastructure to Connect Renewables to the Grid
10.2.5.4 Australia
10.2.5.4.1 Increasing Renewable Power Generation and Focus on Improving Energy Efficiency
10.2.5.5 Rest of Asia Pacific
10.3 Europe
10.3.1 By Grid Type
10.3.2 By Component
10.3.3 By Ownership
10.3.4 By Grid Type
10.3.5 By Country
10.3.5.1 Russia
10.3.5.1.1 Increasing Focus on Clean Energy Production and Rising Government Incentives in the Energy Sector
10.3.5.2 Germany
10.3.5.2.1 Highest Electric Vehicle Seller in the Industrial Sector Which Creates Opportunities for More Deployment of A Microgrid Control System
10.3.5.3 UK
10.3.5.3.1 Feed-In Tariff With A Contract for Difference to Encourage Renewable Electricity Generation for Large-Scale Installations
10.3.5.4 France
10.3.5.4.1 Reducing Power Dependence From Nuclear Sources and Increased Demand for Grid Infrastructure to Connect to Distributed Generation Resources78
10.3.5.5 Rest of Europe
10.4 North America
10.4.1 By Grid Type
10.4.2 By Component
10.4.3 By Ownership
10.4.4 By End-User
10.4.5 By Country
10.4.5.1 US
10.4.5.1.1 Increasing Investments for Replacing and Refurbishing the Aged Electric Infrastructure
10.4.5.2 Canada
10.4.5.2.1 Huge Investments in Renewable Energy and Replacement of Aging Power Equipment
10.4.5.3 Mexico
10.4.5.3.1 Increased Focus to Reduce Greenhouse Gas Emissions
10.5 South America
10.5.1 By Grid Type
10.5.2 By Component
10.5.3 By Ownership
10.5.4 By End-User
10.5.5 By Country
10.5.5.1 Brazil
10.5.5.1.1 Increasing Dependence on the Hydroelectric Power Source, Driving the Demand for Microgrid Control Systems
10.5.5.2 Argentina
10.5.5.2.1 Increased Focus on Power Generation From Sources Such as Wind, Solar, Biomass, Biogas, and Small-Scale Hydro
10.5.5.3 Rest of South America
10.6 Middle East & Africa
10.6.1 By Component
10.6.2 By Ownership
10.6.3 By End-User
10.6.4 By Country
10.6.4.1 Saudi Arabia
10.6.4.1.1 Increased Investment in Power Generation Projects and Focus on Altering Its Power Generation Mix to Preserve Its Oil Exports
10.6.4.2 South Africa
10.6.4.2.1 Government Focusing on Reducing Carbon Dioxide Emissions as Well as Its Dependency on Coal for Poer Generation
10.6.4.3 Nigeria
10.6.4.3.1 Significant Investments in Off-Grid Electricity Generation Drive the Microgrid Control System Market
10.6.4.4 Rest of the Middle East & Africa
11 Competitive Landscape
11.1 Overview
11.2 Ranking of Players and Industry Concentration, 2017
11.3 Competitive Scenario
11.3.1 Mergers & Acquisitions
11.3.2 Contracts & Agreements
11.3.3 New Product Developments
11.3.4 Investments & Expansions
11.3.5 Mergers & Acquisitions
11.3.6 Others
12 Company Benchmarking
12.1 ABB
12.2 General Electric
12.3 Siemens
12.4 Eaton Corporation
12.5 Emerson
12.6 Schneider Electric
12.7 Spirae
12.8 Schweitzer Engineering Laboratories (Sel)
12.9 Etap
12.1 S&C Electric Company
12.11 Woodward, Inc.
12.12 Powersecure, Inc.
12.13 Rt Soft
12.14 Ontech Electric Corporation
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