Microgrid Controller Market - Introduction
Microgrid controller enables the installation of a microgrid by controlling dispersed energy resources as well as loads in a predetermined electrical system for maintaining acceptable frequency and voltage. Rise in the installations of distributed renewable and nonrenewable energy resource, emerging utility-scale energy storage, demand response, and plug-in hybrid electric vehicle use have been creating unprecedented opportunities for the electric distribution system. Technological leaps further strives to transform the utility operational model, which will remain an influential driver for the microgrid controller market.
Demand for microgrid controller has been on a surge in industries for maintaining power stability in critical loads, detecting electrical disturbances, and providing a response to those disturbances in the least possible time. Focus on business sustainability has geared the power plant owners towards the adoption of microgrid controller as conservation of the environment becomes a priority.
Microgrid Controller Market – Competitive Landscape
The global microgrid controller market is highly fragmented with a number of companies operating in the segment. Leading players are currently focusing on providing cost-competitive products and add-on features to gain market share in the market.
- In April 2019, ABB entered into a productive partnership with Rolls Royce to provide innovative and energy-efficient solutions for commercial, industrial, and utility sector. The partnership will bring forth the combination of Rolls Royce’s MTU Diesel and ABB’s modular microgrid solution and offer more renewable energy with reduced carbon footprints.
- In January 2018, Schneider Electric joined forces with Sustainable Energy for ALL to offer access to environmental-friendly energy and bridge the energy access gap across the world.
- In November 2018, GE Power Digital announced a joint venture with PPL Electric Utilities to facilitate the adoption of energy generation while focusing on grid safety and its reliability. As per the agreement, PPL will employ GE’s DER Orchestration and incorporate it with Advanced Distribution Management Solutions to model and enhance the grid operations, load forecasting, and maintain grid reliability.
Founded in 1847, Siemens AG is headquartered in Berlin, Kingdom of Prussia. The German conglomerate company functions as an industrial manufacturing company in Europe and offers services such as financing, business services, and engineering and construction.
Schweitzer Engineering Laboratories
Incorporated in 1982, Schweitzer Engineering Laboratories is located in Pullman, Washington. The company manufactures, designs, and underpins products and services such as automation services and power management protection.
Eaton Corporation Inc.
Established in 1911, Eaton Corporation Inc. is based in Beachwood, OH. The multinational power management company possesses a large customer base in over 175 countries and functions in electrical, industrial, aerospace, and eMobility sectors.
Lockheed Martin Corporation
Launched in 1995, Lockheed Martin Corporation is headquartered in Bethesda, United States. The American company specializes in the research, design, manufacturing, development, and integration of advanced technologies for space systems, rotary and mission systems, missiles and fire control, and aeronautics.
Honeywell Corporation Inc.
Founded in 1906, Honeywell Corporation Inc. is located in Wabash, Indiana. The multinational conglomerate manufactures a variety of consumer, commercial, engineering services, and aerospace services. It operates to upgrade the quality of life for people across the world by addressing critical challenges pertaining to energy production, its security, and safety.
Microgrid Controller Market – Dynamics
Microgrid Controller Market to Grow As Reduction of Carbon Footprints Become Essential
Growth of the microgrid controller market can be attributed to the financial cushion offered by the government to numerous microgrid projects to improve the electrical accessibility for its citizens. Renewable energy generation sources such as solar and wind power plants are gradually outpacing the coal-based power generation sources, which is anticipated to reflect on the revenue of the microgrid controller market. Novel trends encircling the arena for the development of flexible and scalable microgrid controllers are gaining grounds in the power plants and are envisaged to do so in the future of microgrid controller market.
‘Compatibility Issues’ with Power Plants to Limit the Market Growth
Installation of microgrid controller means revamping the components and devices, which further sums up to a hefty amount. A hesitance among the power plant owners is witnessed regarding the employment of microgrid controller as longstanding risks of operational, technological, and security risks prevail. Additionally, imposition of dynamic policies legislated by government is likely to hamper the expansion of the microgrid.
Microgrid Controller Market – Segmentation
The microgrid controller market can be divided on the basis of:
- Offering vertical
Microgrid Controller Market Segmentation – By Connectivity
Based on the connectivity, the microgrid controller market can be classified into:
- Remote connected
- Grid connected
Microgrid Controller Market Segmentation – By Offering
Based on the offering, the microgrid controller market can be divided into:
The report on microgrid controller market is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The microgrid controller market report provides in-depth analysis of parent market trends, macroeconomic indicators and governing factors along with market attractiveness as per segments. The microgrid controller market report also maps the qualitative impact of various market factors on microgrid controller market segments and geographies.
Regional analysis for microgrid controller market includes:
- North America
- Latin America
- Western Europe
- Eastern Europe
- Asia Pacific excluding Japan (APEJ)
- Middle East & Africa (MEA)
The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.
The study is a source of reliable data on:
- Market segments and sub-segments
- Market trends and dynamics
- Supply and demand
- Market size
- Current trends/opportunities/challenges
- Competitive landscape
- Technological breakthroughs
- Value chain and stakeholder analysis
The regional analysis covers:
- North America (U.S. and Canada)
- Latin America (Mexico, Brazil, Peru, Chile, and others)
- Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
- Eastern Europe (Poland and Russia)
- Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
- Middle East and Africa (GCC, Southern Africa, and North Africa)
The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.
A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.
Highlights of the report:
- A complete backdrop analysis, which includes an assessment of the parent market
- Important changes in market dynamics
- Market segmentation up to the second or third level
- Historical, current, and projected size of the market from the standpoint of both value and volume
- Reporting and evaluation of recent industry developments
- Market shares and strategies of key players
- Emerging niche segments and regional markets
- An objective assessment of the trajectory of the market
- Recommendations to companies for strengthening their foothold in the market
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.