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Microgrid Control Systems Market Size, Share & Growth [2031]
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Microgrid Control Systems Market Size, Share & Growth [2031]

Segments - Microgrid Control Systems Market by Types (Off-Grid, On-Grid, and Hybrid), Components (Software and Hardware), Ownership (Private and Public), Applications (Industrial, Cities & Municipalities, Utilities, Military & Defense, Campuses & Institutions, and Others), and Regions (Asia Pacific, North America, Latin America, Europe and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2023 – 2031

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Author : Raksha Sharma
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Fact-checked by : V. Chandola
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Editor : Swapnil Hedau

Upcoming | Report ID :EP-4189 | 4.5 Rating | 84 Reviews | 166 Pages | Format : PDF Excel PPT

Report Description


Microgrid Control Systems Market Outlook 2031

The global microgrid control systems market size was valued at around USD 26.60 Billion in 2022 and is expected to reach USD 75.26 Billion by 2031, expanding at a CAGR of around 12.25% during the forecast period, 2023-2031. The growth of the market is attributed to the increasing improvements in control and energy management.

Microgrid refers to a group of electricity users with a local source of supply, which is usually attached to a centralized national grid and function independently. Grid connects houses, businesses, and other buildings to central sources of power. The whole interconnected network affects when a part of the grid needs repair. Microgrids, though they operate while connected to the grid, can operate independently when needed.

Global Microgrid Control Systems Market Outlook

Microgrids can be powered by batteries, generators, or renewable energy resources depending upon its requirements. Microgrids aid in strengthening grid resilience, mitigating grid disturbances, and function as a grid resource. Microgrids provide backups for the grid, which allows communities to be energy independent and environmentally friendly.

Microgrid control systems are control and information systems that provide necessary functionality to ensure the generation and distribution of energy at minimal operational costs.

  • Technological advancements in energy management systems are expected to drive the market during the forecast period.
  • Rising demand for backup solutions in in developing and underdeveloped countries fuels the microgrid control systems market.
  • Growing adoption of microgrid control systems by industries to reduce carbon emission and cost of operations boosts the market.
  • High cost associated with installation and maintenance of microgrid control systems and lack of skilled labor needed for those systems are anticipated to hamper the growth of the market during the coming years.
  • Lack of awareness regarding technological advancements in microgrid control systems hinders the growth of the market.
  • Growing industrial sector is expected to offer growth opportunities to the key market players during the projected years.

Scope of The Microgrid Control Systems Market Report

The report on the global microgrid control systems market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Attributes

Details

Report Title

Microgrid Control Systems Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast

Base Year

2022

Historic Data

2016–2021

Forecast Period

2023–2031

Segmentation

Types (Off-Grid, On-Grid, and Hybrid), Components (Software and Hardware), Ownership (Private and Public), and Applications (Industrial, Cities & Municipalities, Utilities, Military & Defense, Campuses & Institutions, and Others)

Regional Scope

Asia Pacific, North America, Latin America, Europe, and Middle East & Africa

Report Coverage

Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast

Key Players Covered in the Report

Hitachi, Ltd.; Borqs Technologies, Inc.; Siemens AG; ABB Group; General Electric Corporation; Eaton Corporation PLC; Princeton Power Systems; Honeywell International, Inc.; Northern Power Systems, Inc.; Exelon Corporation; Schneider Electric SE; ONTECH Electric Corporation; and Others

Microgrid Control Systems Market Segment Insights

On-grid segment drives the market

Based on types, the market is divided into off-grid, on-grid, and hybrid. The on-grid segment is expected to boost the market during the forecast period, as they are cost-effective, reliable, and energy-efficient than other types of microgrids. The off-grid segment is anticipated to expand during the forecast period, due to growing electrification of rural and remote areas across the globe.

Global Microgrid Control Systems Market Types

Software segment boosts the market

On the basis of components, the market is bifurcated into software and hardware. The software segment is projected to drive the market during the forecast period, owing to its crucial role in predicting, managing, monitoring, and improving demand and supply of energy for microgrid networks.

The private segment holds a key market share

In terms of ownership, the market is divided into private and public. The private segment is estimated to expand significantly during the forecast period, due to growing demand for primary energy and rising government initiative beneficial for private players. Increasing demand for domestic and household electricity is anticipated to boost the private segment in the coming years.

Commercial & industrial segment register a high CAGR

Based on applications, the market is segregated into industrial, cities & municipalities, utilities, military & defense, campuses & institutions, and others. The industrial segment is projected to drive the market during the forecast period, as industries around the globe are adopting measures to reduce carbon emission and optimize their energy consumption. Industries are adopting microgrid systems to reduce their energy costs and operation costs, which aid in the expansion of the industrial segment.

Microgrid Control Systems Market Applications

Asia Pacific dominates the market

In terms of regions, the market is segmented into Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. The market in Asia Pacific is expected to register a high CAGR during the forecast period, due to growing investments in smart microgrid control infrastructure, rising dependency on sustainable sources for power generation, and modernization of electrical works in the region.

Developing countries in Asia Pacific are importing new technologies to improve their microgrid control systems, which aids in the expansion of the market. The market is North America is anticipated to expand during the forecast period, owing to increasing smart grid activities and growing usage of sustainable sources in power production in the region.

Global Microgrid Control Systems Market Regions

Segments

The global microgrid control systems market has been segmented on the basis of

Types

  • Off-Grid
  • On-Grid
  • Hybrid

Components

  • Software
  • Hardware

Ownership

  • Private
  • Public

Applications

  • Industrial
  • Cities & Municipalities
  • Utilities
  • Military & Defense
  • Campuses & Institutions
  • Others

Regions

  • Asia Pacific
  • North America
  • Latin America
  • Europe
  • Middle East & Africa

Key Players

  • Hitachi, Ltd.
  • Borqs Technologies, Inc.
  • Siemens AG
  • ABB Group
  • General Electric Corporation
  • Eaton Corporation PLC
  • Princeton Power Systems
  • Honeywell International, Inc.
  • Northern Power Systems, Inc.
  • Exelon Corporation
  • Schneider Electric SE
  • ONTECH Electric Corporation
  • Others

Competitive Landscape

The global microgrid control systems market is moderately fragmented with the presence of key players such as Hitachi, Ltd.; Borqs Technologies, Inc.; Siemens AG; ABB Group; General Electric Corporation; Eaton Corporation PLC; Princeton Power Systems; Honeywell International, Inc.; Northern Power Systems, Inc.; Exelon Corporation; Schneider Electric SE; ONTECH Electric Corporation; and others, who use business strategies such as acquisitions, collaborations, mergers, product launches, and partnerships to strengthen their hold on the market.

  • For example, in September 2021, Borqs Technologies, Inc., a provider of Internet of Things (IoT) software and integrated products, signed a term to acquire 51% of stakes in Holu Hou Energy, LLC, a provider for innovative microgrid functions. In November 2021, Siemens AG partnered with Fluence Energy to aid the island of Madeira, Portugal to gain energy independence and grid resilience.

Global Microgrid Control Systems Market Key Players

Frequently Asked Questions

The global microgrid control systems market is estimated to register CAGR of around 12.25% during the forecast period.

The global microgrid control systems market size was valued at around USD 23.70 billion in 2021.

Microgrid refers to a group of electricity users with a local source of supply, which is usually attached to a centralized national grid and function independently.

Off-grid, on-grid, and hybrid are the types of microgrid control systems.

Asia Pacific dominates the global microgrid control systems market.

Hitachi, Ltd.; Borqs Technologies, Inc.; Siemens AG; ABB Group; General Electric Corporation; Eaton Corporation PLC; Princeton Power Systems; Honeywell International, Inc.; Northern Power Systems, Inc.; Exelon Corporation; and Schneider Electric SE are some of the key market players.

Table Of Content

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Microgrid Control Systems Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. Microgrid Control Systems Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. Microgrid Control Systems Market - Supply Chain
  4.5. Global Microgrid Control Systems Market Forecast
     4.5.1. Microgrid Control Systems Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Microgrid Control Systems Market Size (000’ Units) and Y-o-Y Growth
     4.5.3. Microgrid Control Systems Market Absolute $ Opportunity
5. Global Microgrid Control Systems Market Analysis and Forecast by Types
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by Types
     5.2.2. Y-o-Y Growth Projections by Types
  5.3. Microgrid Control Systems Market Size and Volume Forecast by Types
     5.3.1. Off-Grid
     5.3.2. On-Grid
     5.3.3. Hybrid
  5.4. Absolute $ Opportunity Assessment by Types
  5.5. Market Attractiveness/Growth Potential Analysis by Types
6. Global Microgrid Control Systems Market Analysis and Forecast by Applications
  6.1. Market Trends
  6.2. Introduction
     6.2.1. Basis Point Share (BPS) Analysis by Applications
     6.2.2. Y-o-Y Growth Projections by Applications
  6.3. Microgrid Control Systems Market Size and Volume Forecast by Applications
     6.3.1. Industrial
     6.3.2. Cities & Municipalities
     6.3.3. Utilities
     6.3.4. Military & Defense
     6.3.5. Campuses & Institutions
     6.3.6. Others
  6.4. Absolute $ Opportunity Assessment by Applications
  6.5. Market Attractiveness/Growth Potential Analysis by Applications
7. Global Microgrid Control Systems Market Analysis and Forecast by Region
  7.1. Market Trends
  7.2. Introduction
     7.2.1. Basis Point Share (BPS) Analysis by Region
     7.2.2. Y-o-Y Growth Projections by Region
  7.3. Microgrid Control Systems Market Size and Volume Forecast by Region
     7.3.1. North America
     7.3.2. Latin America
     7.3.3. Europe
     7.3.4. Asia Pacific
     7.3.5. Middle East and Africa (MEA)
  7.4. Absolute $ Opportunity Assessment by Region
  7.5. Market Attractiveness/Growth Potential Analysis by Region
  7.6. Global Microgrid Control Systems Demand Share Forecast, 2019-2026
8. North America Microgrid Control Systems Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
  8.2. North America Microgrid Control Systems Market Size and Volume Forecast by Country
     8.2.1. U.S.
     8.2.2. Canada
  8.3. Absolute $ Opportunity Assessment by Country
  8.4. North America Microgrid Control Systems Market Size and Volume Forecast by Types
     8.4.1. Off-Grid
     8.4.2. On-Grid
     8.4.3. Hybrid
  8.5. Basis Point Share (BPS) Analysis by Types
  8.6. Y-o-Y Growth Projections by Types
  8.7. North America Microgrid Control Systems Market Size and Volume Forecast by Applications
     8.7.1. Industrial
     8.7.2. Cities & Municipalities
     8.7.3. Utilities
     8.7.4. Military & Defense
     8.7.5. Campuses & Institutions
     8.7.6. Others
  8.8. Basis Point Share (BPS) Analysis by Applications
  8.9. Y-o-Y Growth Projections by Applications
  8.10. Market Attractiveness/Growth Potential Analysis
     8.10.1. By Country
     8.10.2. By Product Type
     8.10.3. By Application
  8.11. North America Microgrid Control Systems Demand Share Forecast, 2019-2026
9. Latin America Microgrid Control Systems Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Latin America Average Pricing Analysis
  9.2. Latin America Microgrid Control Systems Market Size and Volume Forecast by Country
      9.2.1. Brazil
      9.2.2. Mexico
      9.2.3. Rest of Latin America
   9.3. Absolute $ Opportunity Assessment by Country
  9.4. Latin America Microgrid Control Systems Market Size and Volume Forecast by Types
     9.4.1. Off-Grid
     9.4.2. On-Grid
     9.4.3. Hybrid
  9.5. Basis Point Share (BPS) Analysis by Types
  9.6. Y-o-Y Growth Projections by Types
  9.7. Latin America Microgrid Control Systems Market Size and Volume Forecast by Applications
     9.7.1. Industrial
     9.7.2. Cities & Municipalities
     9.7.3. Utilities
     9.7.4. Military & Defense
     9.7.5. Campuses & Institutions
     9.7.6. Others
  9.8. Basis Point Share (BPS) Analysis by Applications
  9.9. Y-o-Y Growth Projections by Applications
  9.10. Market Attractiveness/Growth Potential Analysis
     9.10.1. By Country
     9.10.2. By Product Type
     9.10.3. By Application
  9.11. Latin America Microgrid Control Systems Demand Share Forecast, 2019-2026
10. Europe Microgrid Control Systems Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Europe Average Pricing Analysis
  10.2. Europe Microgrid Control Systems Market Size and Volume Forecast by Country
     10.2.1. Germany
     10.2.2. France
     10.2.3. Italy
     10.2.4. U.K.
     10.2.5. Spain
     10.2.6. Russia
     10.2.7. Rest of Europe
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Europe Microgrid Control Systems Market Size and Volume Forecast by Types
     10.4.1. Off-Grid
     10.4.2. On-Grid
     10.4.3. Hybrid
  10.5. Basis Point Share (BPS) Analysis by Types
  10.6. Y-o-Y Growth Projections by Types
  10.7. Europe Microgrid Control Systems Market Size and Volume Forecast by Applications
     10.7.1. Industrial
     10.7.2. Cities & Municipalities
     10.7.3. Utilities
     10.7.4. Military & Defense
     10.7.5. Campuses & Institutions
     10.7.6. Others
  10.8. Basis Point Share (BPS) Analysis by Applications
  10.9. Y-o-Y Growth Projections by Applications
  10.10. Market Attractiveness/Growth Potential Analysis
     10.10.1. By Country
     10.10.2. By Product Type
     10.10.3. By Application
  10.11. Europe Microgrid Control Systems Demand Share Forecast, 2019-2026
11. Asia Pacific Microgrid Control Systems Market Analysis and Forecast
  11.1. Introduction
     11.1.1. Basis Point Share (BPS) Analysis by Country
     11.1.2. Y-o-Y Growth Projections by Country
     11.1.3. Asia Pacific Average Pricing Analysis
  11.2. Asia Pacific Microgrid Control Systems Market Size and Volume Forecast by Country
     11.2.1. China
     11.2.2. Japan
     11.2.3. South Korea
     11.2.4. India
     11.2.5. Australia
     11.2.6. Rest of Asia Pacific (APAC)
  11.3. Absolute $ Opportunity Assessment by Country
  11.4. Asia Pacific Microgrid Control Systems Market Size and Volume Forecast by Types
     11.4.1. Off-Grid
     11.4.2. On-Grid
     11.4.3. Hybrid
  11.5. Basis Point Share (BPS) Analysis by Types
  11.6. Y-o-Y Growth Projections by Types
  11.7. Asia Pacific Microgrid Control Systems Market Size and Volume Forecast by Applications
     11.7.1. Industrial
     11.7.2. Cities & Municipalities
     11.7.3. Utilities
     11.7.4. Military & Defense
     11.7.5. Campuses & Institutions
     11.7.6. Others
  11.8. Basis Point Share (BPS) Analysis by Applications
  11.9. Y-o-Y Growth Projections by Applications
  11.10. Market Attractiveness/Growth Potential Analysis
     11.10.1. By Country
     11.10.2. By Product Type
     11.10.3. By Application
  11.11. Asia Pacific Microgrid Control Systems Demand Share Forecast, 2019-2026
12. Middle East & Africa Microgrid Control Systems Market Analysis and Forecast
  12.1. Introduction
     12.1.1. Basis Point Share (BPS) Analysis by Country
     12.1.2. Y-o-Y Growth Projections by Country
     12.1.3. Middle East & Africa Average Pricing Analysis
  12.2. Middle East & Africa Microgrid Control Systems Market Size and Volume Forecast by Country
     12.2.1. Saudi Arabia
     12.2.2. South Africa
     12.2.3. UAE
     12.2.4. Rest of Middle East & Africa (MEA)
  12.3. Absolute $ Opportunity Assessment by Country
  12.4. Middle East & Africa Microgrid Control Systems Market Size and Volume Forecast by Types
     12.4.1. Off-Grid
     12.4.2. On-Grid
     12.4.3. Hybrid
  12.5. Basis Point Share (BPS) Analysis by Types
  12.6. Y-o-Y Growth Projections by Types
  12.7. Middle East & Africa Microgrid Control Systems Market Size and Volume Forecast by Applications
     12.7.1. Industrial
     12.7.2. Cities & Municipalities
     12.7.3. Utilities
     12.7.4. Military & Defense
     12.7.5. Campuses & Institutions
     12.7.6. Others
  12.8. Basis Point Share (BPS) Analysis by Applications
  12.9. Y-o-Y Growth Projections by Applications
  12.10. Market Attractiveness/Growth Potential Analysis
     12.10.1. By Country
     12.10.2. By Product Type
     12.10.3. By Application
  12.11. Middle East & Africa Microgrid Control Systems Demand Share Forecast, 2019-2026
13. Competition Landscape
  13.1. Global Microgrid Control Systems Market: Market Share Analysis
  13.2. Microgrid Control Systems Distributors and Customers
  13.3. Microgrid Control Systems Market: Competitive Dashboard
  13.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     13.4.1. Hitachi, Ltd.
     13.4.2. Borqs Technologies, Inc.
     13.4.3. Siemens AG
     13.4.4. ABB Group
     13.4.5. General Electric Corporation
     13.4.6. Eaton Corporation PLC
     13.4.7. Princeton Power Systems
     13.4.8. Honeywell International, Inc.
     13.4.9. Northern Power Systems, Inc.
     13.4.10. Exelon Corporation

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