Global Microgrid Controller Market Report and Forecast 2024-2032

Global Microgrid Controller Market Outlook

The global microgrid controller market size attained approximately USD 5.45 billion in 2023. The market is estimated to grow at a CAGR of 21% in the forecast period of 2024-2032, reaching a value of around USD 30.42 billion by 2032.

Key Trends in the Market

A microgrid controller is a system of software and hardware devices that manages the electricity distribution and balances grid fluctuations. It enhances the performance of the microgrid and can either operate as a stand-alone or require a connection with the main grid.

• The growing demand for an uninterrupted and dependable power supply boosts the microgrid controller market growth. The system reduces incidents of sudden blackouts and power outages due to its ability to disconnect from the traditional grid and function independently.

• The rise in popularity of eco-friendly energy solutions due to growing environmental awareness also boosts the demand for microgrid controllers as they can be utilised for automating the charging of solar panels and batteries of electrical vehicles. Moreover, the growing demand for autonomous power supply is one of the significant microgrid controller market trends.

• Microgrids can combat issues such as power outages and extreme weather while supporting cities to reduce greenhouse emissions. This, coupled with the increasing focus on balancing energy fluctuations, to ensure reliable control of microgrids and enhance energy efficiency is aiding the microgrid controller market demand.

Market Analysis

Based on connectivity, the market is divided into grid connected and remote/off grid. On the basis of offering, the market is classified into software, hardware and services. Based on end use, the microgrid controller market segmentation includes commercial and industrial, power and utilities, institutes and campuses, healthcare, and government, among others. The major regional markets of microgrid controller are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global microgrid controller market covering their competitive landscape and latest developments like mergers, acquisitions, investments, and expansion plans.

• Honeywell International Inc.

• Siemens AG

• ABB Ltd.

• Schneider Electric SE.

• General Electric Company

• Emerson Electric Co.

• Schweitzer Engineering Laboratories, Inc.

• Caterpillar Inc.

• Encorp Inc.

• Eaton Corporation

• S&C Electric Company

• Others

Market Share by End Use

The commercial and industrial sector represent a significant portion of the microgrid controller market share due to the rising demand for uninterrupted power supply in industrial applications. Power outages or fluctuations can cause damage to industrial equipment and components, which further propels the requirement for the deployment of microgrid controllers.

Moreover, the rapid infrastructural development in metropolitan cities is propelling the market. The demand for microgrid controllers is also expected to grow in the educational institutes and campuses sector as they ensure constant power supply to the classrooms and hostels.

Market Share by Region

The Asia Pacific is expected to hold a healthy share of the market during the forecast period due to the growing demand for electricity. The growing focus on enhancing the resilience of electricity infrastructure is driving the usage of microgrid controllers in the region.

Furthermore, the microgrid controller market demand can be attributed to the surging renovation of the old grid infrastructure and rapid urbanisation. Additionally, the increasing investment by various government bodies to boost electrification also positively influences the market.

Competitive Landscape

Honeywell International Inc., founded in 1906, is a multinational company that designs power generation systems. The company, with its headquarters in North Carolina, the United States, also produces speciality chemicals and consumer products, among others.

Siemens AG, an industrial managing company, was founded in 1966 and has its headquarters in Munich, Germany. The company provides its services in the automation, electrification, and digitalisation segments.

ABB Ltd., founded in 1988 and based in Zürich, Switzerland, is a global leader in automation that provides sustainable energy solutions to optimise the manufacturing process. It aims to develop innovative technologies that can enhance energy efficiency in the infrastructure, utility, and industrial sectors.

Other microgrid controller market players include Schneider Electric SE., General Electric Company, Emerson Electric Co., Schweitzer Engineering Laboratories, Inc., Caterpillar Inc., Encorp Inc., Eaton Corporation, and S&C Electric Company, among others.

Key Highlights of the Report