About Microgrid Controller
A microgrid controller is a device that allows the establishment of a microgrid by controlling distributed energy resources and loads in a predetermined electrical system to maintain acceptable frequency and voltage. It effectively automates control of all microgrid components and microgrid interconnections to satisfy power demand and maintain stable operating conditions with minimal operational staffing.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 22.0% |
The competitive landscape for microgrid controllers is expected to continue to evolve in the coming years. As the market grows, vendors are likely to consolidate, and new technologies are likely to emerge. This will make it even more important for microgrid developers to carefully evaluate their options before selecting a controller. Analyst at AMA Research estimates that United States Players will contribute the maximum growth to India Microgrid Controller market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Schneider Electric (France), GE Power (United States), ABB (Switzerland), Siemens (Germany), Schweitzer Engineering Laboratories (United States), Eaton (Ireland), Lockheed Martin (United States), Honeywell (United States), S&C Electric (United States) and Power Analytics (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are Emerson (United States), Princeton Power Systems (United States), Spirae (United States), Homer Energy (United States) and Pareto Energy (United States).
Segmentation Overview
AMA Research has segmented the market of India Microgrid Controller market by and Region.
On the basis of geography, the market of Microgrid Controller has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Vertical, the sub-segment i.e. Government will boost the Microgrid Controller market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Connectivity, the sub-segment i.e. Grid Connected will boost the Microgrid Controller market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Offerings, the sub-segment i.e. Hardware will boost the Microgrid Controller market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Increased energy resilience
Market Growth Drivers:
Optimization of Energy Assets and Improved Efficiency of Microgrids Using Microgrid Controllers, Increasing Global Demand for Microgrids for Reliable and Secure Power Supply, Growing Shift toward Renewable Energy Sources and Reducing Carbon Footprints and Increasing Government Investments in Microgrid Projects across India
Challenges:
Interoperability and Compatibility Issues Due to Large Number of Components/Devices and Operational, Technological, and Security Risks Associated With Microgrids
Restraints:
High Cost of Microgrid Control Systems and Dynamic Government Policies, Regulations, and Standards in India
Opportunities:
Growing Demand for Microgrids from Utility, Military, and Government Sectors across the India, Up-Coming Smart City Projects in India during the Projected Period and Modernization of Aging Grid Infrastructure
Market Leaders and their expansionary development strategies
In June 2023, Xendee Corporation operation software provider announced that UC San Diego's Center for Energy Research has entered into an agreement with Xendee to conduct testing and evaluation of its enhanced Xendee Operate control platform at one of UCSD’s test facilities. The project, funded by a CalTestBed Voucher, aims to integrate, validate, and evaluate new AI-enabled forecasting and control algorithms, as well as communication networks, of Xendee Operate.
In December 2023, Cuyahoga County, Ohio launched the first microgrid electrical utility, Cuyahoga Green Energy (CGE) has contracted with Compass Energy Platform to serve as the utility operator for the county run utility.The initial Utility microgrids will focus on commercial and industrial customers and will expand in later stages to include schools, grocery stores, fire departments and other government and community loads.
Key Target Audience
Microgrid Controller Manufacturers, Microgrid Controller Sub-Component Manufacturers, Software and Service Providers, Regulatory & Government Bodies, Upstream & Downstream Vendors, End Users and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.