Microgrid Control System Market Sales, Revenue, Price and Gross Margin Forecast To 2028| ABB Group, Eaton Corporation Plc, General Electric Corporation, Siemens AG, Honeywell International, and Exelon Corporation.

Global Microgrid Control System Market Projected to Grow due to Developing Infrastructure and Increasing Need for Power Generation

Microgrid ensures the supply of electricity during power failure and blackout situations. The increasing demand of electrification of rural areas has led to the high adoption rate of microgrid control system. Microgrid control systems connect several different residential/commercial/industrial parties or buildings with individual energy system assets to a fully functional microgrid. Advancement in IoT and communication technologies and increasing concern of carbon emission are the major drivers of the global microgrid control system market. Automation in the form of a microgrid control system is one way to run the plant run on lower power supply without disrupting manufacturing, which is expected to supplement the growth of the Microgrid Control System Market.

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Key Takeaways of the Microgrid Control System Market Study
1. The off-grid segment led the microgrid control system market and is projected to have the largest market share during the forecast period. For geographically remote communities and developing countries Off-grid microgrids are mainly used to provide diverse power sources.
2. The private segment led the microgrid control system market in 2018. Factors such as increasing demand for electricity, rising power generation capacity, and increasing usage of renewable sources to generate electricity are expected to boost the demand for the private microgrid control systems. mMcrogrid control system has major application in university campuses, defense, and industrial and commercial end-users.
3. Asia Pacific led the global microgrid control system market in 2017. The high growth rate in the Asia Pacific region can be attributed to increased investments in the electric grid development and growing reliance on renewable sources of power generation.

Notable Development Trends to Open up New Horizons of Growth for Microgrid Control System Market
The leading companies in the market focus on product development as well as the acquisition in the market to enhance the market share in the global market during the forecast period.
1. October 23, 2019 - Excellerate, an innovator of manufactured electrical components and assemblies, and Schneider Electric, the leader in the digital transformation of energy management and automation, have launched the Xcape by Excellerate Energy Microgrid.
2. Nov 05, 2019 - Tata Power, one of India’s heavyweight distribution companies and solar power developers, has tapped The Rockefeller Foundation to launch TP Renewable Microgrid Ltd.
3. February 24, 2020 - Canopy Power has launched the latest update for Hornbill – a technology platform for 24/7 monitoring and management of remote microgrid systems, developed in Singapore.
4. July 15, 2020 - Avista Energy is preparing to launch a "micro-transactive grid" in Spokane, Washington, that experts say illustrates the future of distributed energy resource (DER) management.

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Major points covered in the report:
1. Macroeconomic factors affecting the Microgrid Control System market and its potential
2. Microgrid Control System Market dynamics, such as drivers, challenges, and trends
3. Detailed value chain analysis of the Microgrid Control System market
4. The cost structure of the products and segments covered in the study
5. key product segments, regions and by major market participants are analyzed
6. Analysis of demand and supply, such as top manufacturing and consuming regions, overall trade scenario with imports/exports details
7. Analysis of the market structure, including a tier-wise categorization of key market participants
8. Competitive landscape of the Microgrid Control System market, including detailed profiles of the top players in this market

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Some of the major players in the Microgrid Control System market are ABB Group, Eaton Corporation Plc, General Electric Corporation, Siemens AG, Honeywell International, and Exelon Corporation.

Market Segmentation:
By Type:
• Off-Grid
• On-Grid
• Hybrid

By Ownership:
• Public
• Private

By Component:
• Switch Gear
• Controls
• Software & Hardware
• Generation & Transmission

By End-User:
• Commercial & Industrial
• Campuses & Institutions
• Utilities
• Defense
• Cities & Municipalities
• Others

By Region:
• North America
o By Country (US, Canada, Mexico)
o By Type
o By Ownership
o By Component
o By End-User

• Western Europe
o By Country (Germany, UK, France, Italy, Spain, Rest of Western Europe)
o By Type
o By Ownership
o By Component
o By End-User

• Eastern Europe
o By Country (Russia, Turkey, Rest of Eastern Europe)
o By Type
o By Ownership
o By Component
o By End-User

• Asia Pacific
o By Country (China, Japan, India, South Korea, Australia, Rest of Asia Pacific)
o By Type
o By Ownership
o By Component
o By End-User

• Middle East
o By Country (UAE, Saudi Arabia, Qatar, Iran, Rest of Middle East)
o By Type
o By Ownership
o By Component
o By End-User

• Rest of the World
o By Region (South America, Africa)
o By Type
o By Ownership
o By Component
o 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

Customization:
We provide customization of the study to meet specific requirements:
• By Segment
• By Sub-segment
• By Region/Country

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This release was published on openPR.