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Global Microgrid Controller Market Share, Trends: By Connectivity: Grid Connected, Remote/Off Grid; By Offering: Software, Hardware, Services; By End Use: Commercial and Industrial, Power and Utilities, Institutes and Campuses, Healthcare, Government, Others; Regional Analysis; Market Dynamics; Competitive Landscape; 2024-2032
Global Microgrid Controller Market Outlook
The global microgrid controller market size attained approximately USD 5.45 billion in 2023. The market is estimated to grow at a CAGR of 21% in the forecast period of 2024-2032, reaching a value of around USD 30.42 billion by 2032.
Key Trends in the Market
A microgrid controller is a system of software and hardware devices that manages the electricity distribution and balances grid fluctuations. It enhances the performance of the microgrid and can either operate as a stand-alone or require a connection with the main grid.
- The growing demand for an uninterrupted and dependable power supply boosts the microgrid controller market growth. The system reduces incidents of sudden blackouts and power outages due to its ability to disconnect from the traditional grid and function independently.
- The rise in popularity of eco-friendly energy solutions due to growing environmental awareness also boosts the demand for microgrid controllers as they can be utilised for automating the charging of solar panels and batteries of electrical vehicles. Moreover, the growing demand for autonomous power supply is one of the significant microgrid controller market trends.
- Microgrids can combat issues such as power outages and extreme weather while supporting cities to reduce greenhouse emissions. This, coupled with the increasing focus on balancing energy fluctuations, to ensure reliable control of microgrids and enhance energy efficiency is aiding the microgrid controller market demand.
Market Analysis
Based on connectivity, the market is divided into grid connected and remote/off grid. On the basis of offering, the market is classified into software, hardware and services. Based on end use, the microgrid controller market segmentation includes commercial and industrial, power and utilities, institutes and campuses, healthcare, and government, among others. The major regional markets of microgrid controller are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global microgrid controller market covering their competitive landscape and latest developments like mergers, acquisitions, investments, and expansion plans.
- Honeywell International Inc.
- Siemens AG
- ABB Ltd.
- Schneider Electric SE.
- General Electric Company
- Emerson Electric Co.
- Schweitzer Engineering Laboratories, Inc.
- Caterpillar Inc.
- Encorp Inc.
- Eaton Corporation
- S&C Electric Company
- Others
Market Share by End Use
The commercial and industrial sector represent a significant portion of the microgrid controller market share due to the rising demand for uninterrupted power supply in industrial applications. Power outages or fluctuations can cause damage to industrial equipment and components, which further propels the requirement for the deployment of microgrid controllers.
Moreover, the rapid infrastructural development in metropolitan cities is propelling the market. The demand for microgrid controllers is also expected to grow in the educational institutes and campuses sector as they ensure constant power supply to the classrooms and hostels.
Market Share by Region
The Asia Pacific is expected to hold a healthy share of the market during the forecast period due to the growing demand for electricity. The growing focus on enhancing the resilience of electricity infrastructure is driving the usage of microgrid controllers in the region.
Furthermore, the microgrid controller market demand can be attributed to the surging renovation of the old grid infrastructure and rapid urbanisation. Additionally, the increasing investment by various government bodies to boost electrification also positively influences the market.
Competitive Landscape
Honeywell International Inc., founded in 1906, is a multinational company that designs power generation systems. The company, with its headquarters in North Carolina, the United States, also produces speciality chemicals and consumer products, among others.
Siemens AG, an industrial managing company, was founded in 1966 and has its headquarters in Munich, Germany. The company provides its services in the automation, electrification, and digitalisation segments.
ABB Ltd., founded in 1988 and based in Zürich, Switzerland, is a global leader in automation that provides sustainable energy solutions to optimise the manufacturing process. It aims to develop innovative technologies that can enhance energy efficiency in the infrastructure, utility, and industrial sectors.
Other microgrid controller market players include Schneider Electric SE., General Electric Company, Emerson Electric Co., Schweitzer Engineering Laboratories, Inc., Caterpillar Inc., Encorp Inc., Eaton Corporation, and S&C Electric Company, among others.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Connectivity |
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| Breakup by Offering |
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| Breakup by End Use |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Microgrid Controller Market Analysis
8.1 Key Industry Highlights
8.2 Global Microgrid Controller Historical Market (2018-2023)
8.3 Global Microgrid Controller Market Forecast (2024-2032)
8.4 Global Microgrid Controller Market by Connectivity
8.4.1 Grid Connected
8.4.1.1 Historical Trend (2018-2023)
8.4.1.2 Forecast Trend (2024-2032)
8.4.2 Remote/Off Grid
8.4.2.1 Historical Trend (2018-2023)
8.4.2.2 Forecast Trend (2024-2032)
8.5 Global Microgrid Controller Market by Offering
8.5.1 Software
8.5.1.1 Historical Trend (2018-2023)
8.5.1.2 Forecast Trend (2024-2032)
8.5.2 Hardware
8.5.2.1 Historical Trend (2018-2023)
8.5.2.2 Forecast Trend (2024-2032)
8.5.3 Services
8.5.3.1 Historical Trend (2018-2023)
8.5.3.2 Forecast Trend (2024-2032)
8.6 Global Microgrid Controller Market by End Use
8.6.1 Commercial and Industrial
8.6.1.1 Historical Trend (2018-2023)
8.6.1.2 Forecast Trend (2024-2032)
8.6.2 Power and Utilities
8.6.2.1 Historical Trend (2018-2023)
8.6.2.2 Forecast Trend (2024-2032)
8.6.3 Institutes and Campuses
8.6.3.1 Historical Trend (2018-2023)
8.6.3.2 Forecast Trend (2024-2032)
8.6.4 Healthcare
8.6.4.1 Historical Trend (2018-2023)
8.6.4.2 Forecast Trend (2024-2032)
8.6.5 Government
8.6.5.1 Historical Trend (2018-2023)
8.6.5.2 Forecast Trend (2024-2032)
8.6.6 Others
8.7 Global Microgrid Controller Market by Region
8.7.1 North America
8.7.1.1 Historical Trend (2018-2023)
8.7.1.2 Forecast Trend (2024-2032)
8.7.2 Europe
8.7.2.1 Historical Trend (2018-2023)
8.7.2.2 Forecast Trend (2024-2032)
8.7.3 Asia Pacific
8.7.3.1 Historical Trend (2018-2023)
8.7.3.2 Forecast Trend (2024-2032)
8.7.4 Latin America
8.7.4.1 Historical Trend (2018-2023)
8.7.4.2 Forecast Trend (2024-2032)
8.7.5 Middle East and Africa
8.7.5.1 Historical Trend (2018-2023)
8.7.5.2 Forecast Trend (2024-2032)
9 North America Microgrid Controller Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Canada
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
10 Europe Microgrid Controller Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Germany
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 France
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Italy
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Others
11 Asia Pacific Microgrid Controller Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Japan
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 India
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 ASEAN
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Australia
11.5.1 Historical Trend (2018-2023)
11.5.2 Forecast Trend (2024-2032)
11.6 Others
12 Latin America Microgrid Controller Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Argentina
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Mexico
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Others
13 Middle East and Africa Microgrid Controller Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Nigeria
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 South Africa
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Competitive Landscape
15.1 Market Structure
15.2 Company Profiles
15.2.1 Honeywell International Inc.
15.2.1.1 Company Overview
15.2.1.2 Product Portfolio
15.2.1.3 Demographic Reach and Achievements
15.2.1.4 Certifications
15.2.2 Siemens AG
15.2.2.1 Company Overview
15.2.2.2 Product Portfolio
15.2.2.3 Demographic Reach and Achievements
15.2.2.4 Certifications
15.2.3 ABB Ltd.
15.2.3.1 Company Overview
15.2.3.2 Product Portfolio
15.2.3.3 Demographic Reach and Achievements
15.2.3.4 Certifications
15.2.4 Schneider Electric SE.
15.2.4.1 Company Overview
15.2.4.2 Product Portfolio
15.2.4.3 Demographic Reach and Achievements
15.2.4.4 Certifications
15.2.5 General Electric Company
15.2.5.1 Company Overview
15.2.5.2 Product Portfolio
15.2.5.3 Demographic Reach and Achievements
15.2.5.4 Certifications
15.2.6 Emerson Electric Co.
15.2.6.1 Company Overview
15.2.6.2 Product Portfolio
15.2.6.3 Demographic Reach and Achievements
15.2.6.4 Certifications
15.2.7 Schweitzer Engineering Laboratories, Inc.
15.2.7.1 Company Overview
15.2.7.2 Product Portfolio
15.2.7.3 Demographic Reach and Achievements
15.2.7.4 Certifications
15.2.8 Caterpillar Inc.
15.2.8.1 Company Overview
15.2.8.2 Product Portfolio
15.2.8.3 Demographic Reach and Achievements
15.2.8.4 Certifications
15.2.9 Encorp Inc.
15.2.9.1 Company Overview
15.2.9.2 Product Portfolio
15.2.9.3 Demographic Reach and Achievements
15.2.9.4 Certifications
15.2.10 Eaton Corporation
15.2.10.1 Company Overview
15.2.10.2 Product Portfolio
15.2.10.3 Demographic Reach and Achievements
15.2.10.4 Certifications
15.2.11 S&C Electric Company
15.2.11.1 Company Overview
15.2.11.2 Product Portfolio
15.2.11.3 Demographic Reach and Achievements
15.2.11.4 Certifications
15.2.12 Others
16 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Microgrid Controller Market: Key Industry Highlights, 2018 and 2032
2. Global Microgrid Controller Historical Market: Breakup by Connectivity (USD Billion), 2018-2023
3. Global Microgrid Controller Market Forecast: Breakup by Connectivity (USD Billion), 2024-2032
4. Global Microgrid Controller Historical Market: Breakup by Offering (USD Billion), 2018-2023
5. Global Microgrid Controller Market Forecast: Breakup by Offering (USD Billion), 2024-2032
6. Global Microgrid Controller Historical Market: Breakup by End Use (USD Billion), 2018-2023
7. Global Microgrid Controller Market Forecast: Breakup by End Use (USD Billion), 2024-2032
8. Global Microgrid Controller Historical Market: Breakup by Region (USD Billion), 2018-2023
9. Global Microgrid Controller Market Forecast: Breakup by Region (USD Billion), 2024-2032
10. North America Microgrid Controller Historical Market: Breakup by Country (USD Billion), 2018-2023
11. North America Microgrid Controller Market Forecast: Breakup by Country (USD Billion), 2024-2032
12. Europe Microgrid Controller Historical Market: Breakup by Country (USD Billion), 2018-2023
13. Europe Microgrid Controller Market Forecast: Breakup by Country (USD Billion), 2024-2032
14. Asia Pacific Microgrid Controller Historical Market: Breakup by Country (USD Billion), 2018-2023
15. Asia Pacific Microgrid Controller Market Forecast: Breakup by Country (USD Billion), 2024-2032
16. Latin America Microgrid Controller Historical Market: Breakup by Country (USD Billion), 2018-2023
17. Latin America Microgrid Controller Market Forecast: Breakup by Country (USD Billion), 2024-2032
18. Middle East and Africa Microgrid Controller Historical Market: Breakup by Country (USD Billion), 2018-2023
19. Middle East and Africa Microgrid Controller Market Forecast: Breakup by Country (USD Billion), 2024-2032
20. Global Microgrid Controller Market Structure
Key Questions Answered in the Report
In 2023, the market reached an approximate value of USD 5.45 billion.
The market is projected to grow at a CAGR of 21% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032, reaching a value of around USD 30.42 billion by 2032.
Major market drivers are the growing demand for efficient power supply and regular power failure in conventional power grids.
The key trends of the market include the growing demand for uninterrupted power supply and the surging usage of microgrids to charge solar panels and electrical vehicles.
The major regions in the market are North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
The various end uses of the product are commercial and industrial, power and utilities, institutes and campuses, healthcare, and government, among others.
The key market players, according to the report, are Honeywell International Inc., Siemens AG, ABB Ltd., Schneider Electric SE., General Electric Company, Emerson Electric Co., Schweitzer Engineering Laboratories, Inc., Caterpillar Inc., Encorp Inc., Eaton Corporation, and S&C Electric Company, among others.
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