Press release
Key Trends Shaping the Future Automatic Generation Control Market From 2025-2034: Honeywell Launches Advanced Control For Buildings Platform
Automatic Generation Control Market
The automatic generation control market has expanded rapidly in recent years. It is projected to increase from $12.95 billion in 2024 to $14.27 billion in 2025, with a CAGR of 10.2%. The historical growth was fueled by load fluctuations, integration of renewable energy, interconnected grids, demand response initiatives, and generation outages.
The automatic generation control market is anticipated to experience significant growth, reaching $20.8 billion by 2029 with a compound annual growth rate (CAGR) of 9.9%. The growth is driven by factors like increased penetration of distributed energy resources, integration of electric vehicles (EVs), the growing integration of energy markets, and rising cybersecurity concerns. Key trends include the deployment of edge computing, blockchain technology integration, the expansion of virtual power plants (VPPs), the emergence of grid-interactive buildings, and the adoption of multi-agent systems (MAS).
What Are the Forces Behind the Rapid Growth of the Automatic Generation Control Market?
The increasing demand for electricity is expected to fuel the growth of the automatic generation control market in the coming years. Electricity is the physical phenomenon associated with the presence and flow of electric charge, generated through the movement of electrons in conductive materials like wires or circuits. The rising demand for electricity is driven by population growth, urbanization, economic development, and technological advancements. Automatic generation control (AGC) is used in electricity systems to optimize power system operations, minimize energy imbalances, and ensure a reliable electricity supply. For instance, in January 2024, the International Energy Agency (IEA), a France-based intergovernmental organization, projected a 3.4% annual growth in global electricity demand through 2026. Electricity's share in total energy consumption rose to 20% in 2023. Data centers, which consumed around 460 terawatt-hours (TWh) in 2022, are expected to use more than 1,000 TWh by 2026. Therefore, the rising demand for electricity is propelling the growth of the automatic generation control market.
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Who Are the Dominant Companies Influencing Automatic Generation Control Market Trends?
Major companies operating in the automatic generation control market are Hitachi Ltd., Siemens AG, GE-Alstom Grid LLC, General Electric Co., Mitsubishi Electric Corp., Schneider Electric SE, Honeywell International Inc., ASEA Brown Boveri Ltd., Larsen and Toubro Ltd., Emerson Electric Co., ANDRITZ AG, Rockwell Automation Inc., Wartsila Corp., ENERCON GmbH, Regal-Beloit Corporation, Hubbell Inc., Voith Group, Yokogawa Electric Corp., Woodward Inc., OSI Systems Inc., Schweitzer Engineering Laboratories Inc., DEIF A/S, Maverick Technologies LLC, ETAP Operation Technology Inc., Suzlon Energy Ltd.
How Is the Automatic Generation Control Market Evolving?
Companies in the automatic generation control market are advancing solutions like advanced building control systems. In January 2024, Honeywell International launched the Advanced Control for Buildings platform, which uses automation and machine learning to optimize building operations and energy efficiency.
What Are the Different Segmentations in the Automatic Generation Control Market?
The automatic generation control market covered in this report is segmented -
1) By Type: Turbine Governor Control, Load Frequency Control
2) By Component: Hardware, Software, Services
3) By Application: Hydro Power Plant, Thermal Power Plant, Nuclear Power Plant, Solar Power Plant, Wind Power Plant
Subsegments:
1) By Turbine Governor Control: Steam Turbine Governor Control, Gas Turbine Governor Control, Hydro Turbine Governor Control, Combined Cycle Turbine Governor Control
2) By Load Frequency Control: Primary Frequency Control, Secondary Frequency Control, Tertiary Frequency Control, Economic Dispatch and Load Control
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Which Region Is at the Forefront of the Automatic Generation Control Market?
Asia-Pacific was the largest region in the automatic generation control market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the automatic generation control market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Is Covered In The Automatic Generation Control Global Market Report?
- Market Size Analysis: Analyze the Automatic Generation Control Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Automatic Generation Control Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Automatic Generation Control Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Automatic Generation Control Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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