Market Size of Microgrid Control Systems Industry
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 4.27 Billion |
| Market Size (2029) | USD 7.79 Billion |
| CAGR (2024 - 2029) | 12.77 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Microgrid Control System Market Analysis
The Microgrid Control Systems Market size is estimated at USD 4.27 billion in 2024, and is expected to reach USD 7.79 billion by 2029, growing at a CAGR of 12.77% during the forecast period (2024-2029).
Continued control and energy management improvements are expected to impact market growth positively. Declining prices for distributed renewable energy and battery technology and technological advances in energy management systems have led to more efficient renewable energy grids and advanced smart grid technologies.
- As per an article by the World Economic Forum published in May 2022, many homes, businesses, and critical services could be affected if a region's primary power grid were to go down due to storms or power outages, as conventional power grids can cover entire continents or countries. Microgrids can switch off from the primary grid and continue to supply power during such emergencies. This process is known as "islanding."
- As microgrids are used in many fields and integrated with new technologies, including fuel cells, efficient and reliable control systems are needed to handle the new systems' complexity. Therefore, there is a growing need for effective and centralized microgrid controllers. Traditional networks are considered very inefficient due to long lines.
- November 2022, Advanced Power and Energy Program (APEP) collaborated with Southern California Edison (SCE), the Department of Energy (DOE), KB Home, SunPower, and Schneider Electric on the development, deployment, and testing of two microgrid communities in the Shadow Mountain master plan in Menifee. Overall, APEP will guarantee that the microgrid controller meets the (IEEE 2030.7) national standards that advanced from prior research achieved by APEP for the DOE utilizing the UCI Microgrid as a platform for both demonstration and development.
- However, high implementation costs may hinder market growth. These systems require constant maintenance and need skilled workers to troubleshoot technical issues. These factors impede market growth.
- The COVID-19 outbreak had mixed impacts on the microgrid control systems market. The outbreak caused supply chain disruptions and project delays in the early stages. Subsequently, increased focus on resilient energy infrastructure and remote energy management has accelerated adopting and investing in microgrid control systems.
