Rockville, MD -- (SBWIRE) -- 06/28/2019 -- Microgrid Controller Market Insights
Microgrid controller is basically a device that allows to establish a microgrid by controlling multiple distributed energy resources and loads in a certain electrical system to maintain reliable frequency and voltage. It helps meet the demand for electricity while maintaining grid stability and operational resiliency with minimal staffing. In order to maintain the stability and satisfy power demand, the microgrid controller effectively automates control of all components and interconnections of microgrids. Some advantages of the microgrid controller include detecting electrical disturbances and implementing precise responses, reducing cost of energy produced, and minimizing environmental impact.
Increasing demand for microgrids along with rapid shift towards the utilization of renewable energy sources has been directly influencing the development of microgrid controller market, which is expected a register a value of nearly US$ 6 billion in 2019. Key manufacturers of microgrid controllers are focusing on incorporation of new control technologies to lower the overall cost while moving a step towards renewability. Rising inclination towards microgrids to ensure power stability in critical loads will continue to create potential growth prospects of the microgrid controller market.
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Microgrid Controller Market – Notable Developments
ABB, Ontech Electric Corporation, PowerSecure, S&C Electric, Schweitzer Engineering Laboratories, Inc., Emerson, Schneider Electric, General Electric, RT SOFT, Woodward, Inc., ETAP, Spirae, Eaton Corporation, Siemens, Power Analytics, Honeywell International, Lockheed Martin, Encorp, Opus One Solutions, CleanSpark, Princeton Power Systems, and Advanced Microgrid Solutions, are among the leading players operating in the microgrid controller market.
In April 2019, ABB signed a Memorandum of Understanding (MoU) with Ericsson to advance automation and wireless communication for the future of flexible factories. ABB is a key player in the microgrid controller market and had received an order worth nearly US$ 40 million to strengthen the power grids of Indonesia in January 2018.
In April 2019, Siemens and Federal Democratic Republic of Ethiopia signed a Memorandum of Understanding (MOU) to address urgent energy and infrastructural challenges, and to support the government's aim to become a low middle-income nation by 2025. In January 2018, the company has introduced dual microgrid controllers for decentralized energy installations of any size.
In April 2019, GE's Grid Solution business announced the signing of two deals to build energy systems and upgrade three substations in Benin and Cote d'Ivoire respectively; with an objective to improve energy access in West Africa and help foster economic development and growth in the two nations.
In February 2019, Schneider Electric, a leading microgrid controller market player, launched the next generation of high power low voltage circuit breakers called 'Masterpact MTZ' and has been assembled in India. The new circuit break promises to provide the customer with numerous benefits of improved performance and better reliability and safety.
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Microgrid Controller Market Dynamics
Increasing integration of microgrids and distributed generation along with government initiatives to improve electrical access worldwide are the key growth driving determinants of microgrid controller market. Growing need for reliable and resilient power supply with the ability to reduce carbon emissions is also expected to be highly impactful on the growth of microgrid controller market. Further, emerging trends of developing flexible and scalable microgrid controllers and usage of microgrids for protection against cyber-attacks will continue to guide the future of microgrid controller market.
North America Leads Gains in Microgrid Controller Market
North America is expected to be a leading market for microgrid controllers, owing to the presence of large number of microgrid solution providers along with growth in replacement and refurbishment activities of local utility grid infrastructure.
With growing demand for electricity in the Asia Pacific region, top players in the microgrid controller market are focusing on improving their foothold in emerging economies such as China and India. Robust expansion of conventional electricity grids, heavy investments in electrification projects, and moderation and upgrade of existing electrical networks are envisaged to fuel the growth of microgrid controller market in Asia Pacific.
High Cost Remains a Restraining Factor of Microgrid Controller Market
Although microgrid controller market is likely to witness a steady growth in the coming years, high manufacturing costs of the microgrid controllers and related control systems may confine the market growth. With several operational, technological, and security risks associated with microgrids, governments worldwide are imposing dynamic policies, regulations, and standards on microgrids scenario, which in turn is likely to hamper the expansion of microgrid controller market.
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