Categories: Market Research

Microgrid Controller Market Size, Share, Growth, Trends

The Microgrid Controller by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

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According to The Business Research Company’s Microgrid Controller, 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..

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.

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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

Innovative products are a key trend gaining popularity in the microgrid controller market. Major companies operating in the microgrid controller market are focused on providing innovative solutions to strengthen their position in the market. For instance, in February 2022, Schneider Electric SE, a France-based company operating in microgrid controller, launched EcoStruxure microgrid solution for small and medium buildings in Canada. It is an innovative all-in-one system that enables simple DER (distributed energy resource) integration across facilities, including commercial and industrial buildings, healthcare facilities and educational institutions providing organizations with greater energy resiliency, decreased energy costs and a lower carbon footprint. Its unique features include grid connection management, off-grid mode preparation, and demand charge reduction.

The microgrid controller market report table of contents includes: