Microgrid Controller technology
The global Microgrid Controller technology is poised to touch USD 10.73 billion at 12.54% CAGR over the estimated years (2018-2023). A microgrid controller is a device which allows the establishment of the microgrid via controlling the distributed resources of energy and loads in an electrical system that is pre-determined to uphold acceptable voltage and frequency. No matter the need is to power a small city or a small farm a microgrid controller will offer reliable and stable electricity. It will also orchestrate the operation of numerous power system components namely energy storage devices, secondary loads, diesel generators, photo-voltaic arrays and turbines. The main functions of such controllers include seamless grid disconnection and also reconnection, providing the grid with ancillary services and coordination of integration as well as dispatch of local loads and distributed energy resources.
Various factors are pushing the growth of the Microgrid Controller technology. These factors in accordance to the Market Research Future (MRFR) report include growing demand for microgrids from different end-use industries including healthcare, utilities, government and military, shift towards use of renewable sources of energy, reducing carbon footprint, growing investments in transmission and distribution infrastructure, government initiatives to improve electricity access, limitations in space accessibility, upcoming smart city projects and replacement of old grid infrastructure.
Market Segmentation
Market Research Future report offers a wide segmental analysis of the Microgrid Controller technology on the basis of offering, connectivity and vertical.
Based on connectivity, the Microgrid Controller technology is segmented into off-grid/islanded and grid. Of these, off-grid will have the largest share in the market over the estimated years. It is also predicted to develop at the highest CAGR as such controllers are highly reliable.
Based on offering, the Microgrid Controller technology is segmented into service, software and hardware. Of these, software will domineer the market over the estimated years. This is owing to the growing usage of microgrid controller to monitor, predict, manage and optimize supply and demand of energy for the microgrid network.
Based on vertical, the Microgrid Controller technology is segmented into commercial, military and defense, automotive, industrial, energy and power, oil and gas, government and others.
Regional Analysis
By region, the Microgrid Controller technology covers growth opportunities and latest trends across Rest of the World, Asia Pacific, Europe and North America. Of these, North America will command the market over the estimated years. The North American Market is segmented into Mexico, Canada and the US. The factors accounting for the growth of the market in this region include support from the government to propel installations of microgrid in the region. Besides, the presence of leading market players here coupled with the accessibility of proficient technical expertise is also driving the market growth. The Microgrid Controller technology in Europe will have the second major share over the estimated years. The European market is segmented into Rest of Europe, France, Germany and the UK. Germany is the chief country-level market while the market in France is predicted to have the highest growth over the estimated years. The Microgrid Controller technology in the APAC region will grow at the fastest pace over the estimated years. The APAC market is segmented into Rest of Asia Pacific, India, Japan and China. Increase in rural electrification projects especially in Bangladesh and India are pushing the market growth in this region.
Key Players
Leading players profiled in the Microgrid Controller technology include ABB (Switzerland), GE Power (US), Schweitzer Engineering Laboratories (US), Siemens (Germany), Honeywell International Inc. (US), Eaton Corporation (Ireland), Emerson Electric Co. (US), S&C Electric Company (US), Lockheed Martin Corporation (US), Schneider Electric (France), among others.
Browse Complete Report "Microgrid Controller technology Research Report – Global Forecast till 2023" @ https://www.marketresearchfuture.com/reports/microgrid-controller-market-7583
