Feb. 25, 2020, 8:03 a.m. EST

Microgrid Control System Market Along With Major Players Like ABB Group, Eaton Corporation Plc, General Electric Corporation

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Feb 25, 2020 (The Expresswire) -- A report published by Quince Market Insights shows that in the coming years, the Microgrid Control System market is expected to rise steadily as economies thrive.

A report published by Quince Market Insights shows that in the coming years, the Microgrid Control System market is expected to rise steadily as economies thrive. The research report provides a comprehensive review of the global market. Analysts identified the key drivers and constraints in the market. The report studies historical milestones and emerging trends in the global microgrid control system market. A comparison of the two allowed the analysts to draw a potential trajectory for the forecast period of the global microgrid control system market.

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According to the report microgrid control system market is expected to promise high growth in recent years due to increased government investments for microgrid projects. The growth of the microgrid control system market is expected to drive increased demand from end-use industries/applications including commercial and industrial campuses and universities, defense, and cities and municipalities.

This sector has experienced the number of key innovations from major companies including Eaton Corporation Plc, ABB Group, General Electric Corporation, Siemens AG, Honeywell International and Exelon Corporation with an emphasis on both organic and inorganic growth strategies. Emerging regions including the Asia Pacific and the Middle East were among the high-potential, high-growth markets in some key economies. The microgrid is an integrated energy system associated with distributed local energy infrastructure. It handles local loads centrally, and is tracking and managing the whole microgrid. Low-power and low-voltage microgrid control systems are used as they can be operated in the off-grid and hybrid forms.

Segmentation for better understanding of this market and its growth prospects
The researchers have studied the market in-depth and have developed important segments. Each and every segment and its sub-segments are studied based on their market share, growth prospects, and CAGR. Each market segment offers in-depth, both qualitative and quantitative information on market outlook.

The hardware components segment includes physical components such as local controller, communication network, data recorder, CPU module, relays, data logger, analog input-output module, meters, and digital output module. The global microgrid systems market is driven by renewable energy sources. Increasing demand for worldwide reliable power supply and growing electrification projects in emerging economies and innovations in IoT and technology serve as a major market growth opportunity.

In addition, factors such as increased energy consumption; government regulations on energy efficiency; the increasing influx of renewable sources in the energy mix; and renovation, expansion, and upgrade of aging grid infrastructure are to drive the region's demand for microgrid control systems.

Insights about the regional distribution of the market:
The regional outlook for the microgrid control system market offers brief information about the market in North America, Western Europe, Eastern Europe, Asia Pacific, Middle East, and Rest of the World. North America and Western Europe are projected to be key regions for the microgrid control system market over the forecast period. The energy and power sector is one of the developed regions which is essential to the operations of various industries in this region This is one of the main factors that rule the development of the demand for microgrid control systems in those regions. Some of the major countries included in this area include the US, Germany, the United Kingdom, France, Italy, Canada, etc.

During the forecast period, the Asia Pacific is expected to be one of the fastest-growing microgrid control system market regions. Some of the fastest-growing economies and increasing energy and power demand to cater to strong population and industries are expected to drive demand in this area. In the Asia Pacific, China and India are expected to generate large demand. Also, the Middle East includes the UAE, Saudi Arabia, Iran, Qatar and others who show high market potential. In terms of market demand, the rest of the world including South America and Africa are developing regions.

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Key Development:
• In Jan 2018, Siemens has implemented double microgrid controllers for any scale of decentralized energy installations. It manages complex applications that manage decentralized energy installations of a smaller scale.

Significant Factors Impacting Market Growth:
• Rising demand for reliable power supply worldwide
• Growing government investments for microgrid projects
• Increasing new technology energy sources

Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook and SWOT analysis:
ABB Group
1. Eaton Corporation Plc
2. General Electric Corporation
3. Siemens AG
4. Honeywell International
5. and Exelon Corporation.

Market Segmentation:
By Type:
• Off-Grid
• On-Grid
• Hybrid
By Ownership:
• Public
• Private
By Component:
• Switch Gear
• Controls
• Software and Hardware
• Generation and Transmission
By End-User:
• Commercial and Industrial
• Campuses and Institutions
• Utilities
• Defense
• Cities and Municipalities
• Others
By Region:
• North America
• By Country (US, Canada, Mexico)
• By Type
• By Ownership
• By Component
• By End-User
• Western Europe
• By Country (Germany, UK, France, Italy, Spain, Rest of Western Europe)
• By Type
• By Ownership
• By Component
• By End-User
• Eastern Europe
• By Country (Russia, Turkey, Rest of Eastern Europe)
• By Type
• By Ownership
• By Component
• By End-User
• Asia Pacific
• By Country (China, Japan, India, South Korea, Australia, Rest of Asia Pacific)
• By Type
• By Ownership
• By Component
• By End-User
• Middle East
• By Country (UAE, Saudi Arabia, Qatar, Iran, Rest of Middle East)
• By Type
• By Ownership
• By Component
• By End-User
• Rest of the World
• By Region (South America, Africa)
• By Type
• By Ownership
• By Component
• By End-User

Reasons To Buy This Report:
• Market size estimation of the global microgrid control system market on a regional and global basis.
• The unique research design for market size estimation and forecast.
• Profiling of major companies operating in the market with key developments.
• Broad scope to cover all the possible segments helping every stakeholder in the market.


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