Microgrid Control Systems Market 2021 Coronavirus (COVID-19) Updated Analysis By Key Players - ABB Group, Siemens AG, Hitachi, General Electric Corporation

Market Insights Reports delivers key insights on the Microgrid Control Systems market in its latest report titled, “Microgrid Control Systems Market - Growth, Trends, COVID-19 Impact, And Forecasts (2021 - 2026)” provides an in-depth analysis of key players strategies, market growth, product demand, growth factors, technological innovations, regional outlook and global dynamics which includes drivers, challenges, and opportunities dominant in the industry. This Market study provides comprehensive data that enhances the understanding, scope, and application of this report.

The microgrid control systems market was valued at USD 23.68 billion in 2020, and is expected to reach a market value of USD 46.81 billion by 2026, registering a CAGR of 12.25% during the forecast period (2021-2026).

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Top Key Players in the Global Microgrid Control Systems Market: ABB Group, Siemens AG, Hitachi Ltd, Eaton Corporation PLC, Princeton Power Systems, General Electric Corporation, Pareto Energy Ltd, Honeywell International Inc., Northern Power Systems Corporation, Exelon Corporation, and Others.

Industry News:

- January 2018 - ABB received new orders worth USD 40 million from the Indonesian government to strengthen the country’s power grid. It includes a consortium comprising of Doosan Heavy Industries and PT Hutama Karya, a state-owned construction company, to upgrade and expand the Muara Tawar combined cycle power plant in West Java, Indonesia. The innovative project will add 650 MW of electricity to the national grid.

- January 2018 - Siemens introduced dual microgrid controllers for decentralized energy installations of any size. It handles complex applications that manage smaller scale decentralized energy installations.

Key Market Trends

Grid-connected Segment Accounts for a Significant Share in the Market

- Grid-connected or grid-tied is a completely connected grid network, installed to provide energy in accordance with the requirements of the corresponding end user. The distinct benefit of being a cost-effective solution, among the available micro-grid solutions, has prompted a majority of house owners and small-sized enterprises to prefer the grid-connected microgrid systems to cater to their respective power requirements.

- The presence of large-scale grid-tied microgrid networks in university campuses and military and defense industry has led to an increased rate of adoption of control systems in the market.

- The upcoming developments toward the evolution of a connected environment have led to large-scale investment by manufacturers establishing a private network of power, in case of a breakdown in regular sources.

- The Asia-Pacific region is witnessing increased developmental activities regarding grid-connected technology with countries, such as Singapore and India investing in installing grid-connected for efficient energy management.

Top Line Market Forecast:

Both Regional and Global sectors are included in the Outlook, with special breakouts for the NAM, European, MENA, and Asia-Pacific regions. The data covered is from 2015 to 2019 historically and from 2020 to 2026 forecasted, it also includes the impact of Covid-19 both on the short- and long-term prospects of the industry.

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The United States Occupies the Largest Market share

- The rise of renewable energy and distributed generation systems is expected to drive the market over the forecast period.

- The traditional grid market is under increasing pressure. At the same time, its aging infrastructure requires major overhauls and the US EPA (Environmental Policy Agency) has imposed unprecedented greenhouse gas regulation, which is further driving the market for the integrated renewable energy microgrid control systems.

- The rising governmental support in the form of funding and state-level resiliency programs has increased the demand from institutions or campus applications, making it a key driver for the US market growth.

- The drop in energy storage prices is expected to lower the cost of integrating renewable energy. This factor is also expected to drive the rate of adoption of microgrids in larger communities and commercial and industrial sectors.

This Microgrid Control Systems Market report addresses:

- The Market size from 2016-2021

- Expected market growth until 2026

- Forecast of how market drivers, restraints, and future opportunities will affect

- Segment and regions that will drive or lead the market growth and why

- Comprehensive mapping of the competitive landscape

- In-depth analysis of key sustainability strategies adopted by market place

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Post Covid-19 Analysis:

All the reports that we list have been tracking the impact of COVID-19 on the market. Both upstream and downstream of the entire supply chain has been accounted for while doing this. Also, where possible, we will provide an additional COVID-19 update supplement/report to the report in Q3, please check with the sales team.

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