Press release
Microgrid Control System Market - Growth Drivers - ABB, Woodward, Spirae, Siemens, Schweitzer Engineering Laboratories (Sel), Schneider Electric, S&C Electric Company, Rt Soft, Princeton Power Systems, Powersecure | Strategic Analysis 2026
the Global Microgrid Control System Market is accounted for $18.20 billion in 2017 and is expected to reach $60.25 billion by 2026 growing at a CAGR of 14.2% from 2017 to 2026. Microgrid ensures the supply of electricity during power failure and blackout situations. Additionally, it shares a load and provides additional support when connected to the main grid. Some of the factors such as increasing demand for reliable and secure power supply worldwide and growing adoption of renewable energy sources are fueling the market growth. However, factors such as governmental laws & regulatory uncertainty and high installation costs are hampering the market growth. Rising electrification projects in emerging economies and advancements in IoT are creating ample opportunities for the market growth.Get a Sample Copy of this Report @ https://marketprognosis.com/sample-request/19530
Amongst Grid Type, Off-Grid segment is dominating the microgrid control system market during the forecast period due to the mounting electrification of rural and remote areas across the globe, which would lead to the high adoption rate of a remote/islanded microgrid control system. Off-grid networks are energy self-sufficient and provide power security during electricity failure. By geography, the Asia Pacific region is dominating the market growth due to the high investment done by the government and private body to meet the growing demand for electricity.
Some of the key players in Microgrid Control System market include ABB, Woodward, Inc., Spirae, Siemens, Schweitzer Engineering Laboratories (Sel), Schneider Electric, S&C Electric Company, Rt Soft, Princeton Power Systems, Powersecure, Inc., Pareto Energy, Ltd., Ontech Electric Corporation, Northern Power Systems Corporation, Honeywell International, Inc., Hitachi, Ltd., General Electric, Exelon Corporation, Etap, Emerson and Eaton Corporation.
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Market Segments:
Grid Types Covered:
• Off-Grid
• On-Grid
• Hybrid
Components Covered:
• Switch Gear
• Generation & Transmission
• Software
• Controls
Ownerships Covered:
• Private
• Public
End Users Covered:
• Utilities
• Defense
• Commercial & Industrial
• Cities & Municipalities
• Campuses & Institutions
• Other End Users
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