Market Leader - Microgrid Controller Market
The global microgrid controller market size is estimated to be USD 4.2 Billion in 2022 and is projected to reach USD 11.5 Billion by 2027, at a CAGR of 22.3% during the forecast period. The rising number of electrification projects in rural areas of Asia Pacific and Africa; growing demand for microgrids in healthcare, military, and government sectors worldwide; and increasing government investments in microgrid projects are the major factor propelling the market growth.
Key players in the microgrid controller market include Schneider Electric (France), General Electric (US), ABB (Switzerland), Siemens (Germany), Schweitzer Engineering Laboratories (US), Eaton Corporation (Ireland), Honeywell International (US), Caterpillar Inc. (US), S&C Electric (US), and Power Analytics (US). These players have adopted different strategies to strengthen their market position and to expand their global presence and increase their market shares. The key strategies implemented by most of the companies in the microgrid controller market include product launches, product developments, and collaborations.
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Schneider Electric is a global energy management and automation solutions provider to the public, commercial, and industrial sectors. It also provides hardware, software, and services related to energy management and automation systems. The company has operations in about 100 countries across Europe, North America, Asia Pacific, and RoW. Schneider Electric is considered one of the pioneers in energy management systems and offers high brand value through premium and high-quality microgrid products and solutions. Schneider Electric’s main strength lies in its multi-local business model. The company has a strong geographic presence in Asia Pacific, followed by North America and Western Europe. The company focuses on acquisitions, partnerships, and agreements with different companies to increase its presence in the aforementioned market. For instance, in January 2022, the company acquired UK-based climate-tech platform Zeigoa to enhance its digital capabilities relating to energy, sustainability, and environmental commodity consulting. The acquisition will enhance the companys portfolio of clean energy services and solutions.
General Electric (GE) offers a broad range of microgrid products and solutions, including GE Reservoir, Grid Analytic, and Advanced Distribution Management Solution (ADMS) for microgrid applications. The company has a strong presence across regions and is known for innovative products pertaining to microgrids. GE also has a strong sales and distribution network. The company is working toward boosting demand creation through an enhanced focus on regional coverage, with strong technical expertise, supported in the mass market by an extensive distribution channel and local initiatives. It also plans to establish regional sales and marketing teams that are fully aligned with the company’s strategic end markets. GE focuses on product launches and inorganic growth strategies such as agreements and contracts to maintain its position in the microgrid controller market. General Electric (GE) has undertaken many majors for creating cleaner grid systems globally. For instance, in March 2022, GE Renewable Energy’s Grid Solutions (NYSE-GE) launched the world’s first 420 kV, 63 kA g³ gas-insulated substation (GIS) circuit-breaker prototype to replace SF6-gas, a potent greenhouse gas. Recently, GE entered multiple contracts to replace SF6-gas circuit-breakers with its g3 technology. In July 2021, GE Renewable Energys Grid Solutions business was awarded USD 2.9 million as a part of the European Commission’s LIFE program to develop an SF6-free 245 kV g3 live tank circuit-breaker.
ABB is considered one of the pioneers in terms of electrification and offers high brand value through its premium and high-quality microgrid controllers. It has a wide geographic presence with offices worldwide and focuses on developing innovative products and solutions in the microgrid controller market. The company operates through four business segments: Electrification, Industrial Automation, Motion, and Robotics & Discrete Automation. ABB offers microgrid solutions through its Electrification business division. The company has expertise in designing and building off-grid and grid-connected microgrids. Its portfolio includes technologies ranging from conventional and renewable power generation, automation, grid stabilization, grid connection, and energy storage to intelligent controls. ABB also offers consulting and other services for developing microgrids. With Smart Power solutions, ABB is leading energy innovation and new ways of utilizing energy, from commercial and industrial sites seeking to unlock new economic opportunities, all the way up to utilities and service providers seeking to manage their increased portfolio of renewables and distributed energy resources, as well as marine vessels and communities seeking sustainable energy solutions.
Siemens is a global technology company, Siemens focuses on the areas of automation and digitalization in the process and manufacturing industries, intelligent infrastructure for buildings and distributed energy systems, smart mobility solutions for rail and road, and medical technology and digital healthcare services. Through its Smart Infrastructure segment, the company offers microgrid products and solutions to campuses, airports, and data centers; utilities and power distribution network operators; companies in heavy industries such as oil & gas, mining, and chemicals. Siemens Smart Infrastructure’s R&D activities focus on addressing the trends of decentralization, decarbonization, and digitalization of energy markets. The company develops technologies for environment-friendly and increasingly renewable energy systems, ranging from photovoltaic inverter technology to battery storage and charging solutions for e-mobility. For instance, in March 2021, Siemens accelerated decarbonization at the Coca-Cola production facility in Sweden, with a 13% reduction in energy consumption and greenhouse gas emissions. The company has a wide geographic presence in Europe, Africa, the Middle East, the Americas, and Asia.
Eaton Corporation , a multinational power management company that provides microgrid energy systems, helps companies facilitate electrical energy savings, ensures grid resiliency, and enables their independence from utilities. The company operates through six segments—Electrical Americas, Electrical Global, Hydraulics, Aerospace, Vehicle, and eMobility. Eaton Corporation provides microgrid products, solutions, and services under its Electrical (Americas + Global) segment. Eaton Corporation’s electrical business is a global leader with deep regional application expertise in power distribution and circuit protection; power quality, backup power and energy storage; control and automation; life safety and security; structural solutions; and harsh and hazardous environment solutions. The company focuses on delivering end-to-end services and an integrated digital platform and insights. Eaton has a wide geographic presence with offices worldwide and focuses on developing innovative products and solutions in the microgrid controller market due to its technical expertise in power distribution and energy management. The company has a strong financial background and invests large amounts in R&D activities.
Related Reports:
Microgrid Controller Market by Connectivity (Grid Connected, Off-grid Connected), Offering (Hardware, Software, Services), End-use application (Commercial & Industrial, Remote Areas, Utilities) and Geography - Global Forecast to 2027
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