How big is the Microgrid Control Systems Market?

The Microgrid Control Systems Market size is expected to reach USD 4.27 billion in 2024 and grow at a CAGR of 12.77% to reach USD 7.79 billion by 2029. Read More

What is the current Microgrid Control Systems Market size?

In 2024, the Microgrid Control Systems Market size is expected to reach USD 4.27 billion. Read More

Who are the key players in Microgrid Control Systems Market?

Siemens AG, ABB Group, Hitachi, Ltd, General Electric Corporation and Honeywell International, Inc. are the major companies operating in the Microgrid Control Systems Market. Read More

Which is the fastest growing region in Microgrid Control Systems Market?

Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029). Read More

Which region has the biggest share in Microgrid Control Systems Market?

In 2024, the North America accounts for the largest market share in Microgrid Control Systems Market. Read More

What years does this Microgrid Control Systems Market cover, and what was the market size in 2023?

In 2023, the Microgrid Control Systems Market size was estimated at USD 3.79 billion. The report covers the Microgrid Control Systems Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Microgrid Control Systems Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029. Read More

Microgrid Control System Market - Share, Size, Trends

Microgrid Control System Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The Report Covers Microgrid Control System Market Growth and it is segmented by type (Grid-connected, Off-Grid, and Hybrid), Application (Utilities, Cities and Municipalities, Defense, Industrial, and Other), and geography (North America, Europe, Asia-Pacific, Latin America, Middle East & Africa). The market sizes and forecasts are provided in terms of value in USD for all the above segments.

Microgrid Control System Industry Overview

The Microgrid Control Systems Market is moderately fragmented due to the large initial investments required to start a firm in the market. Some of the major companies in the market include 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, and Exelon Corporation, among others. Some key recent developments in the market include:

In March 2023, Siemens Canada partnered with Humber College to develop a Renewable Technology and Sustainable Microgrid Lab (SMART Lab) at its North Campus. Humber's investments in the SMART Lab are based upon sustainable digital technology, supported by the Province of Ontario. To generate and distribute energy locally and to allow for more efficient and sustainable use and consumption of electricity, devices such as electric vehicle charging stations, solar Smartflower, and battery energy storage systems will be used in the microgrid control system.

In March 2023, ABB invested in Direct Current microgrid start-up Direct Energy Partners to accelerate energy transformation. Direct Current (DC) energy networks will be crucial to the evolution of the energy industry, and this partnership enhances ABB's technological leadership in a significant future growth market. Direct Energy Partners' software platform automates the design and sourcing processes for DC Microgrids.

In August 2022, Engineering and management consulting firm Tetra Tech was implementing a 300kW future Microgrid for Oldham Council in Greater Manchester. ABB announced the delivery of electrical distribution and control systems for it. The project's initial phase, scheduled to be finished by the spring of 2023, was to incorporate solar photovoltaic panels, a 500kVA grid connection, EV charging stations, and the energy needs of an office building as heating provided by an air source heat pump.