LONDON, Oct. 16, 2019 /PRNewswire/ --
• Microgrid Control System is an energy system which consists of discretely distributed energy sources i.e. generation, storage and demand management. This energy system can run independently or in parallel with the main power grid.
• This technology operates with the main grid but can break off and run on its own independently while using nearby energy generation in times of outages and natural calamities.
Market Overview and Trends
• Microgrid Control System technology was initially used in remote areas for powering military operations or industrial projects and off-grid villages. However, now they're being increasingly used in urban cities, on universities or corporate campuses, in hospital or at commercial sites.
• In February 2019, a provider of microgrid solutions launched a new microgrid-enabled switchgear product, Hive for enhancing low and medium-voltage microgrid systems.
• The objective of this technology is to provide facilities with energy reliability in critical situations and resiliency when experiencing fluctuations from the electric grid.
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Factors Influencing the Market Growth:
• Increasing Government Investments in Microgrid Projects
• Growing Adoption of Renewable Energy Sources
• Increasing Demand for Secure and Reliable Power Supply Worldwide
Factors Restraining the Market Growth:
• Regulations and law uncertainty with Government
• High maintenance and installation cost
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Market Segmentation 2019-2029:
• Hardware Market, 2019-2029
• Software Market, 2019-2029
• Off-Grid Systems Market, 2019-2029
• On-Grid Systems Market, 2019-2029
• Private Systems Market, 2019-2029
• Public Systems Market, 2019-2029
• Industrial and Commercial Systems Market, 2019-2029
• Utilities Systems Market, 2019-2029
• Institutions and Campuses Systems Market, 2019-2029
Focused regional forecasts and analysis explore the future opportunities:
• North America Market, 2019-2029
• Latin America Market, 2019-2029
• Europe Market, 2019-2029
• Asia-Pacific Market, 2019-2029
• Middle East & Africa Market, 2019-2029
• Companies are actively engaged in different developmental strategies in order to improve and increase their foothold in the global Microgrid Control System market.
• There have been a considerable number of product launches, product developments, mergers, and acquisitions recently in the global microgrid control system industry.
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Companies covered in the report include:
Honeywell International, Inc
Lockheed Martin Corporation
Northern Power Systems Corporation
Ontech Electric Corporation
Pareto Energy, Ltd
Princeton Power Systems
S&C Electric Company
Schweitzer Engineering Laboratories (Sel)
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