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Exclusive Report on Microgrid Control Systems Market 2019 | Industry Drivers, Business Plans, Types, Applications, Challenges, Opportunities and Latest Trends Forecast to 2024

Microgrid

The “Microgrid Control Systems Market” research report 2019 delivers comprehensive information about the market ranging from the establishment to the predictable growth trend. Microgrid Control Systems market report provides brief analytical data of the market contenders globally using advanced methodological approaches, such as SWOT analysis, production chain, cost, sales margin, financial details, recent developments. Microgrid Control Systems market report also offers market competitors that includes detailed company profiles along with company product specifications.

Market Overview:

  • The microgrid control systems market was valued at USD 23.5 billion in 2018, and is expected to reach a market value of USD 41.7 billion by 2024, registering a CAGR of 12.25% during the forecast period (2019-2024). Continuous improvements in control and energy management are expected to positively impact the market growth. Price depreciation in both distributed renewable power and battery technologies, along with the technological advancements in energy management systems, has created more efficient renewable grid networks, along with advanced smart grid technologies.
  • – With microgrids now being deployed in many areas and integrated with new technologies, such as fuel cell, there is a need for efficient and reliable control systems that can handle the complexity of these new systems.
  • – Thus, the need for effective and centralized microgrid controllers is increasing. Due to their long-distance lines, traditional grids are deemed to be highly inefficient.
  • – Also, microgrids are highly efficient. With the increasing fuel and energy costs, the need for efficient systems is growing, which, in turn, is favoring the rate of adoption of microgrid systems.
  • – However, higher implementation costs can hinder the growth of the market. With these systems being relatively new, there is also a constant requirement for maintenance, and hence, the need for skilled labor to address technical issues. These factors are standing as roadblocks for the market growth.

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    In Microgrid Control Systems Market Report, Following Companies Are Covered:

  • 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

    Microgrid Control Systems Market 2019 report will help the industry aspirants in arranging their strategies. The measurements offered in this report will be an exact and helpful manual to shape the business development. Additionally, will Provide historical data along with a future forecast and detailed analysis and also expected opportunities.

    Scope of the Report:

  • A microgrid is an integrated energy system with local distributed energy resources (DERs), such as local loads, generating assets, and possibly energy storage devices, such as batteries or fuel-cells. A microgrid system is typically capable of operating in islanded (off-the grid) or grid-connected mode.

    Reasons for Buying Microgrid Control Systems Market Report:

    • This report provides pin-point analysis for changing competitive dynamics
    • It provides a forward looking perspective on different factors driving or restraining market growth
    • It provides a five-year forecast assessed on the basis of how the market is predicted to grow
    • It helps in understanding the key product segments and their future
    • It provides pin point analysis of changing competition dynamics and keeps you ahead of competitors
    • It helps in making informed business decisions by having complete insights of market and by making in-depth analysis of market segments

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    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.

    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.

    The Research Document Will Answer Following Questions Such as:

    • What are the cutting-edge technologies responsible for driving the growth of the market?
    • What are the main applications of the market? What are the growth prospects to the market applications into the market?
    • At what stage of development are the key market products?
    • What are the shortcomings that has to face to become commercially viable? Is their growth and commercialization dependent on cost declines or technological/application breakthroughs?
    • What is the outlook for the industry?
    • What difference does performance characteristics of Microgrid Control Systems create from those of established entities?

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    Detailed TOC of Microgrid Control Systems Market Report 2019-2024:

    1 INTRODUCTION
    1.1 Study Deliverables
    1.2 Study Assumptions
    1.3 Scope of the Study

    2 RESEARCH METHODOLOGY

    3 EXECUTIVE SUMMARY

    4 MARKET DYNAMICS
    4.1 Market Overview
    4.2 Introduction to Market Drivers and Restraints
    4.3 Market Drivers
    4.3.1 Increasing Demand for Backup Solutions (For Support, In Case Of Emergency Blackouts)
    4.3.2 Growing Need to Improve Operational Efficiency
    4.4 Market Restraints
    4.4.1 High Implementation Costs and Operational and Technical Issues
    4.5 Value Chain Analysis
    4.6 Industry Attractiveness – Porter’s Five Force Analysis
    4.6.1 Threat of New Entrants
    4.6.2 Bargaining Power of Buyers/Consumers
    4.6.3 Bargaining Power of Suppliers
    4.6.4 Threat of Substitute Products
    4.6.5 Intensity of Competitive Rivalry

    5 MARKET SEGMENTATION
    5.1 By Type
    5.1.1 Grid-connected
    5.1.2 Off-Grid
    5.1.3 Hybrid
    5.2 By Application
    5.2.1 Utilities
    5.2.2 Cities and Municipalities
    5.2.3 Defense
    5.2.4 Industrial
    5.2.5 Other Applications
    5.3 Geography
    5.3.1 North America
    5.3.1.1 United States
    5.3.1.2 Canada
    5.3.2 Europe
    5.3.2.1 Germany
    5.3.2.2 UK
    5.3.2.3 France
    5.3.2.4 Rest of Europe
    5.3.3 Asia-Pacific
    5.3.3.1 China
    5.3.3.2 Japan
    5.3.3.3 India
    5.3.3.4 Rest of Asia-Pacific
    5.3.4 Latin America
    5.3.5 Middle East & Africa

    6 COMPETITIVE LANDSCAPE
    6.1 Company Profiles
    6.1.1 ABB Group
    6.1.2 Siemens AG
    6.1.3 Hitachi, Ltd
    6.1.4 Eaton Corporation PLC
    6.1.5 Princeton Power Systems
    6.1.6 General Electric Corporation
    6.1.7 Pareto Energy, Ltd
    6.1.8 Honeywell International, Inc.
    6.1.9 Northern Power Systems Corporation
    6.1.10 Exelon Corporation

    7 INVESTMENT ANALYSIS

    8 MARKET OPPORTUNITIES AND FUTURE TRENDS

     

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