Global Microgrid Control Systems Industry (2020 to 2025) - Market Trajectory & Analytics

Dublin, Oct. 13, 2020 (GLOBE NEWSWIRE) -- The "Microgrid Control Systems - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.

The global market for Microgrid Control Systems is projected to reach US$3.9 billion by 2025, driven by the rapid migration towards decentralized energy systems.

The focus on sustainable energy against the backdrop of growing urgency to address climate change ranks as the primary factor driving adoption of decentralized energy systems. Other benefits offered include ability to utilize more renewable energy, reduced dependence on fossil fuels, more stable and largely lower energy prices, elimination of challenges involved in energy loss during long distance transmission, and reduced need to invest in electricity grid transmission and distribution capacity upgrades. In addition, centralized power grids are aging and suffer from grid power quality issues, and also lack the flexibility to adjust to changing energy consumption patterns worldwide.

Also, with several countries worldwide legislating mandatory renewable energy targets, the move towards distributed energy infrastructure is gaining momentum as production of energy closer to consumption areas supports smaller scale generation of renewable energy. Until now, in most markets across the globe power outage and/or scheduled blackouts was the popular load shedding strategy adopted to meet peak demand. However, with rapid digitalization, electrification and electronification of modern societies such a load shedding strategy is unsustainable and detrimental to the growth of economies.

As a result, there is strong focus on integrating higher shares of intermittent sources of renewable energy to meet peak demand. The scenario is leading to the development of hybrid energy systems to ensure reliable and sustainable supply of electricity. With traditional utilities stretched to the breaking point due to rapid population growth, urbanization and demands of the digital age, microgrids are the future of smart and distributed energy generation and distribution.

There is increased establishment of microgrids in areas rich in green sources of power such as photovoltaic (PV) and wind power. These local grids are then integrated into the main utility grid. Integrating and balancing renewable energy creates challenges in dynamics, control and automation of electrical power systems. This pushes up the need for sophisticated energy management system (EMS) and distribution management system (DMS) for reliable integration, management and control of multi-tiered energy systems.

As the issues related to integration and control of microgrids increase in complexity, the need for energy management and control systems will become greater and poised to benefit are microgrid control systems. Another exciting trend in the market is the increase in private deployment of microgrids. With power interruptions and blackouts becoming increasingly common and frequent as a result of extreme weather conditions compounded by aging energy infrastructure, there is a clear preference and migration away from grid-tied solar panels towards private microgrids fully independent and separate from the main power grid.

These microgrids have the advantage of functioning normally even when the main grid is shutdown. This is an important advantage for companies against the backdrop of electrification, digitalization and automation all of which are reliant on power quantity, quality, and availability. Also chronic underfunding of energy infrastructure development by governments worldwide as a result of fiscal deficits and lack of funds, is forcing companies to take their own measures to address energy reliability issues. For instance, in the United States, underinvestment in energy infrastructure has reached over US$180 billion, a scenario that bodes well for the proliferation of private microgrids.

The United States, China and Europe represent large markets worldwide with a combined share of 63.7% of the market. China also ranks as the fastest growing market with a CAGR of 15.3% over the analysis period supported by the Chinese government's strong interest in decentralized energy governance structures and the ensuing launch of national pilot programs. The domestic government is using a combination of stringent regulatory measures and financial incentives to encourage energy industry stakeholders to pursue energy transition policies.

Competitors identified in this market include, among others:

• 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

Key Topics Covered:

I. INTRODUCTION, METHODOLOGY & REPORT SCOPE

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW

• Growing Investments in Energy Infrastructure: The Cornerstone for Growth in the Market

• With Governments Forced to Address Power-Quality, Reliability & Sustainability Issues, the Rising Investments in Energy Infrastructure to Benefit Demand for Energy Management & Control Systems/Solutions: Global Energy Investments (In US$ Billion) for the Years 2016, 2018, 2020

• Impact of Covid-19 and a Looming Global Recession

2. FOCUS ON SELECT PLAYERS

• ABB (Switzerland)

• Eaton Corporation (USA)

• Emerson Electric Co. (USA)

• GE Grid Solutions LLC (USA)

• Ontech Electric Corporation (China)

• Operation Technology, Inc. (USA)

• RT Soft Group (Russia)

• S&C Electric Company (USA)

• Schneider Electric SE (France)

• Schweitzer Engineering Laboratories, Inc. (USA)

• Siemens AG (Germany)

• Spirae, LLC (USA)

• Woodward, Inc. (USA)

3. MARKET TRENDS & DRIVERS

• Focus on Decentralized Energy Generation Drives Deployment of Microgrids

• Growing Value of Distributed Energy Resources (DERs) in Dual Addressal of Environmental & Energy Sustainability Challenges Drives Demand for Microgrids & Microgrid Technology Solutions: Global Microgrid Capacity (In MW) for Years 2016, 2018, 2020, 2022 and 2024

• Rise of Smart Cities Drives the Focus on Engineering Microgrids to Achieve Slated Energy Goals

• With Microgrids Being the Foundation for Smart Energy Infrastructure, Growing Investments in Smart Cities Bodes Well for the Creation of "Grid of Microgrids": Global Investments in Smart City Technologies (In US$ Million) for the Years 2017 & 2020

• Private Sector Microgrids Rise Tall Over the Horizon to Offer Exciting Opportunities for Growth

• Lost Economic Value Due to Power Outages Pushes Up the Monetary Value of Electric Reliability & the Significance of Private Microgrids in Offering Backup Power: Value Lost Due to Electrical Outages as a % of Sales of Affected Firms

• Chronic Public Sector Underfunding for Infrastructure Development Drives Private Participation & Investments in Distributed Energy Via Private Microgrids: Breakdown of Actual & Needed Infrastructure Spending (as a % of GDP) in Select Countries for the Year 2017

• Rising Investments in Renewable Energy Leads to Rapid Mushrooming of Renewable Microgrids Across the Global Energy Terrain

• Microgrids Are the Backbone Infrastructure that Makes Intermittent Renewable Energy More Resilient & Practically Deployable in the Real World Scenario: Global Net capacity Additions of Renewable Energy (In GW) for the Years 2010, 2013, 2016, 2018, 2020

• Microgrid Controllers, a Vital Piece of Hardware Attracting Increased R&D

• The Rise of Blockchain Microgrids Pushes Up the Importance, Complexity & Monetary Value of Effective Microgrid Control

• The Move to Monetize Microgrids Sets Into Motion the Rise of Blockchain Microgrids With Complex Control, Processing & Management Requirements: Global Value of Blockchain Investments in the Energy Industry (In US$ Million) for the Years 2017, 2019, 2022 and 2024

• Cloud Based Management of Microgrids Attract Interest in Community Microgrids

• Supported by Myriad Benefits Automated Microgrid Control Systems Grow in Popularity

• Hardware-in-the-Loop (HIL): A Key Innovation in Micro-Grid Control System

• Impact of IoT on Microgrid Management

• IoT Disrupts the Distributed Energy Space by Turning Microgrids into Smart Systems Capable of Maximizing Energy Efficiency & Energy Sharing & Trading: Global Value of IoT Investments in the Energy Industry (In US$ Billion) for the Years 2017, 2019, 2022 and 2024

• AI and the Microgrid Controller Are the New Pair

4. GLOBAL MARKET PERSPECTIVE

III. MARKET ANALYSIS

IV. COMPETITION

• Total Companies Profiled: 28

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