Global Microgrid Controller Market Growth Analysis 2024 – Forecast Market Size And Key Factors Driving Growth

Overview and Scope

A microgrid controller is a system that controls the microgrid and determines when and how to connect to and disconnect from the grid. The primary function of a microgrid controller is to automate and control all microgrid components and macro grid interconnections to meet electricity demand while maintaining stable operational conditions.

Sizing and Forecast

The microgrid controller market size has grown rapidly in recent years. It will grow from $5.88 billion in 2023 to $6.88 billion in 2024 at a compound annual growth rate (CAGR) of 17.0%. The growth in the historic period can be attributed to regulatory support and funding, pioneering projects and pilot program, rural electrification programs, early adoption in research and universities, grid modernization initiatives..

The microgrid controller market size is expected to see rapid growth in the next few years. It will grow to $12.47 billion in 2028 at a compound annual growth rate (CAGR) of 16.0%. The growth in the forecast period can be attributed to rising demand for decentralized energy, increasing energy storage deployments, focus on energy efficiency, rise of smart cities and communities, emergence of microgrid-as-a-service (maas) models.. Major trends in the forecast period include renewable energy integration, grid resilience and reliability, energy storage management, remote and off-grid applications, smart grid integration..

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Segmentation & Regional Insights

The microgrid controller market covered in this report is segmented –

1) By Connectivity: Grid Connected, Off-Grid
2) By Offering: Hardware, Software, Services
3) By End User: Commercial And Industrial, Remote Areas, Military, Government Utilities, Institutes And Campuses, Healthcare

North America was the largest region in the microgrid controller market in 2023. Asia-Pacific is expected to be the fastest-growing region in the microgrid controller market during the forecast period. The regions covered in the microgrid controller market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

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Major Driver Impacting Market Growth

The growing investments by various governments in microgrid projects are expected to propel the growth of the microgrid controller market going forward. A microgrid controller is a system that controls the microgrid and determines when and how to connect to and disconnect from the grid. The increasing investments by the governments increase the demand for the microgrid controller market. For instance, in October 2021, the Australian Renewable Energy Agency (ARENA), an independent agency of the Australian federal government to manage Australia’s renewable energy programs, announced the start of the $50 million Regional Australia Microgrid Pilots Program (RAMPP) grants, which are intended to increase the resilience and dependability of the energy supply in rural regions. Therefore, the growing investments by various governments in microgrid projects are driving the growth of the microgrid controller market.

Key Industry Players

Major companies operating in the microgrid controller market are focusing on developing advanced microgrids. Microgrids are small, self-contained energy systems that can run alone or in cooperation with the main power grid. For instance, in October 2023, Vertiv, a US-based critical digital infrastructure provider, launched a 1-MW microgrid to support its new customer experience center. The distinguishing characteristics of a 1-MW microgrid consist of a 1-MW alternating current (AC) solar array, a 400-kW hydrogen fuel cell, a 1-MW lithium-ion battery energy storage system, and a microgrid controller. The 1-MW microgrid was created to demonstrate how data centers may solve the electrical grid capacity and availability concerns.

The microgrid controller market report table of contents includes:

1. Executive Summary

2. Microgrid Controller Market Characteristics

3. Microgrid Controller Market Trends And Strategies

4. Microgrid Controller Market – Macro Economic Scenario

5. Global Microgrid Controller Market Size and Growth

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31. Global Microgrid Controller Market Competitive Benchmarking

32. Global Microgrid Controller Market Competitive Dashboard

33. Key Mergers And Acquisitions In The Microgrid Controller Market

34. Microgrid Controller Market Future Outlook and Potential Analysis

 

35. Appendix

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