|03-25-2019 04:19 PM CET - Advertising, Media Consulting, Marketing Research||
Microgrid Controller Market 2019 Industry Insights, Top Trends, Drivers, Growth & Top Players: Eaton, Schweitzer Engineering Laboratories, ABB, Honeywell, Power Analytics, Go Electric, S&C Electric, Siemens, Lockheed Martin
Press release from: Market Prognosis
the Global Microgrid Controller Market is accounted for $4.67 billion in 2017 and is expected to reach $18.84 billion by 2026 growing at a CAGR of 16.7%. Factors such as huge investments from the government for microgrid projects, the shift towards renewable energy sources and improvement in the efficiency of microgrids are fueling the market growth. However, the high price of microgrid controllers and stringent government regulations are hampering the growth of the market. Furthermore, modernized smart cities in developing countries are the growth opportunities for the market.
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Microgrid controllers consist of hardware, software, and services. Hardware includes generation optimizers, local controllers, supervisory controllers, communications network, and human-machine interfaces. The expected largest market share of hardware is attributed to the high cost of components such as generation optimizers, HMIs, and intelligent controllers.
Based on connectivity, connected grid segment propels the market share during the forecast period. As grid connected microgrids have higher reliability than remote/island microgrids owing to their connection with power grids. By geography, Asia Pacific region is anticipated to grow due to the development of the industrial sector and power infrastructure in several of the region’s countries provide significant growth opportunities to local as well as global market players.
Some of the key players in Microgrid Controller market include Eaton, Schweitzer Engineering Laboratories, ABB, Honeywell, Power Analytics, Go Electric, S&C Electric, Siemens, Lockheed Martin, Homer Energy, GE Power, Emerson, Qinous, Advanced Microgrid Solutions, and Princeton Power Systems.
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• Off Grid/ Isolanded/Remote
• Grid Connected
End Users Covered:
• Educational Institutes
• Military & Defense
• Other End Users
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This release was published on openPR.
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