Microgrid Controller Market

Market Leadership - Microgrid Controller Market

The overall microgrid controller market is estimated to grow from USD 6.1 billion in 2019 to USD 12.6 billion by 2024, at a CAGR of 15.65%. Microgrid controllers are designed to maximize microgrids’ reliability in providing uninterrupted electric supply and increase their overall efficiency. Optimization of energy assets and improved microgrid efficiency using microgrid controllers, increasing global demand for microgrids for reliable and secure power supply, and the growing shift toward renewable energy sources and reducing carbon footprints are the major drivers.

The microgrid controller market is highly competitive with the presence of many global and regional market players, such as Schneider Electric (France), GE Power (US), ABB (Switzerland), Siemens (Germany), and Schweitzer Engineering Laboratories (SEL) (US). These companies develop microgrid controller systems and solutions based on extensive R&D, resulting in large market shares. They are among the top players based on their market presence, client/customer base, revenues, and recent developments related to products, geographical footprints, growth strategies, partnerships, agreements, and collaborations. A few major strategies adopted by these players between 2016—2018to compete in the microgrid controller market have been product developments, partnerships, collaborations, and agreements. Other notable players in this market are Eaton (Ireland), Lockheed Martin (US), Honeywell (US), S&C Electric (US), and Power Analytics (US).

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Schneider Electric offers a wide range of products for industrial automation and control, energy access, medium voltage distribution and grid automation, critical power, low voltage products and systems, solar and energy storage, building automation and control, and residential and small businesses. The company offers energy management and automation solutions to public, commercial, and industrial sectors. The strategies adopted by the company include product launches, agreements, joint ventures, and collaborations. In March 2018, it announced the launch of EcoStruxure for energy access, a comprehensive metering, analytics, and reporting solution for microgrid projects. EcoStruxure is an IoT-enabled, plug-and-play, open, interoperable, architecture and platform.

GE Power is engaged in industrial manufacturing and services. The company operates 5 segments: Gas Power Systems, Power Services, Steam Power Systems, Energy Connections, and Others. The Gas Power Systems segment encompasses distributed power; Energy Connections segment encompasses industrial solutions, grid solutions, power conversion, and automation and controls; Others segment encompasses water and process technologies and GE Hitachi Nuclear. In November 2015, GE Power acquired Alstom’s Thermal, Renewables, and Grid businesses. Through this acquisition, GE Power offers products and services such as high voltage equipment, power electronics, automation and protection equipment, and software solutions. Till October 2018, the company was offering Grid IQ Microgrid Control System (MCS), which included U90Plus generation optimizer, communications network, intelligent local controllers, and integration configuration services, in the microgrid controller market. However, the company discontinued manufacturing this product in October 2018.

Related Reports:

Microgrid Controller Market by Connectivity (Grid connected & Remote), Offering (Hardware, Software, and Services), Vertical (Government, Utilities, Commercial, Military & Defense, Healthcare) and Geography - Global Forecast to 2024

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Report Code
SE 6903
Published ON
Feb, 2019
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