Turbine Control System Market is Expected to Grow at a Healthy CAGR with top players ABB, Siemens, Schneider Electric, Emerson, GE

 

The turbine control system market is expected to grow from an estimated USD 15.13 Billion in 2018 to USD 19.00 Billion by 2023, registering a CAGR of 4.66% during the forecast period. This growth is primarily due to the increasing emphasis on growth of wind power generation, and increase in operational productivity of the turbines, in turn improving the efficiency of the power plant.

Browse 65 Tables and 42 Figures spread through 147 Pages and in-depth TOC on "Turbine Control System Market by Component (Sensors, HMI, Controllers, Software), Type (Steam, Gas), Function (Speed Control, Load Control, Temperature Control, Pressure Control), and Region (Asia Pacific, North America, Europe) - Global Forecast to 2023"

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Speed control segment is expected to hold the largest share of the turbine control system market, by function during the forecast period

The speed control segment led the turbine control system market in 2017 and is projected to dominate the market during the forecast period. Speed control segment comprises of speed limiting and acceleration functions. Speed control is generally preferred in gas turbines, wind turbines, and steam turbines. Turbines require precise speed control to provide high-quality control accuracy and improved machinery protection. The rise in the adoption of wind generation across the world is one of the major drivers of speed control segment.

Target Audience:

• Companies related to electric power generation
• Energy & Environment associations
• Energy efficiency consultants
  
• Government and research organizations
• State and national regulatory authorities
• Turbine control system manufacturers
• Manufacturers’ Associations
• Public and private operators of natural gas power plants
• Institutional investors
• Suppliers of parts and components of the turbines industry
• Distribution consultancies
  

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Software segment is expected to be the fastest-growing segment of the turbine control system market

Software is expected to hold the largest market share during the forecast period from 2018 to 2023. Software segment includes IT applications such as advanced process control systems, digital synchronization, process optimization and process safety solutions, and remote view software program among others. It provides a common platform for devices to connect and operate. North America is expected to be the fastest growing region for software segment during the forecast period.

Steam turbine control system segment is expected to be the fastest-growing segment of the turbine control system market

The steam turbine control system is expected to be the fastest growing market from 2018 to 2023. Increasing usage of coal-based, diesel-based, and oil-based power generation in the developing countries is one of the key factors that drive the steam turbine control system market. Asia Pacific is expected to be the fastest growing region for the steam turbine control system segment during the forecast period.

Asia Pacific: The leading market for turbine control system

In this report, the turbine control system market has been analyzed with respect to five regions, namely, North America, Europe, Asia Pacific, South America, and the Middle East & Africa. Asia Pacific is expected to hold for the largest market share in the global turbine control system market in 2018. According to the International Energy Agency (IEA), China is expected to install 36% of all global hydroelectricity generation capacity, 40% of all worldwide wind energy, and 36% of all solar energy between 2015 and 2021. All the above factors are expected to raise the renewable energy sector in the region are likely to have a positive impact on the turbine control system market.

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Key Players -

The players include ABB (Switzerland), Siemens (Germany), Schneider Electric (France), Emerson (US), and GE (US). The leading players adopted various strategies to increase their market shares such as contracts & agreements, new product launches, and mergers & acquisitions.

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 5000 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "RT" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

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Mr. Aashish Mehra
MarketsandMarkets™ INC.
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USA : 1-888-600-6441
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Water Cut Monitors Market Revenue Is Anticipated to Reach $241 million by 2024

The Water Cut Monitors market is expected to grow from an estimated USD 188 million in 2019 to USD 241 million by 2024, at a CAGR of 5.0%, during the forecast period. The growth of the Water Cut Monitors market can be attributed to the rising demand for advanced and precise real-time monitoring instruments from the oil & gas sector, especially for upstream applications.

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The onshore segment is expected to hold the largest share of the water cut monitors market, by location, during the forecast period.

The onshore segment led the water cut monitors market in 2018 and is expected to grow at a considerable pace during the forecast period. The onshore oilfield service providers are focused on improving services for enhancing the production from mature fields and thus are coming up with advanced drilling procedures. Therefore, enhancement in digitalization increases the demand for water cut meters. With the adoption of water cut monitors, oil & gas operators can monitor water cut at upstream, midstream, and downstream applications. During drilling, accurate water cut measurement is crucial, as the oil operator wants to supply oil with minimum impurities at all stages of the supply chain to get maximum returns in terms of revenue. Thus, rising demand for real-time measurement instruments from oil operators in regions such as North America and Europe to manage production, reduce downtime, and incur lower human risk is a key factor driving the growth of the water cut monitors market.

The upstream sector segment is expected to be the largest segment of the Water Cut Monitors market.  

The upstream segment is expected to be the largest segment of the water cut monitors market, by sector, in 2018. Water cut monitors in the upstream sector are primarily used in well testing, separation vessel, and MPFM applications. The upstream sector is experiencing rapid digitalization by transforming traditional operating models into smarter operations, which reduces nonproductive time. Additionally, there has been a considerable increase in drilling activities globally. For instance, the total numbers of new wells drilled globally were approximately 71,000 in 2018, of which, about 4,000 were offshore and the remaining 67,000 onshore. The new well drilling activity witnessed a y-o-y growth of 7% from 2017. Thus, rising drilling activities and increasing adoption of real-time monitoring systems are major factors expected to drive the demand for water cut monitors in the upstream sector.

Asia Pacific: the leading Water Cut Monitors market

In this report, the Water Cut Monitors market has been analyzed with respect to five regions, namely, North America, Europe, Asia Pacific, South America, and the Middle East & Africa. The Asia Pacific market is expected to lead the Water Cut Monitors market by region. The growth of the Water Cut Monitors market in the Asia Pacific region can be attributed to rising imports from Middle East countries, development, and expansion of refineries, and increasing investment in the development of pipeline networks.

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Key Market Players

To enable an in-depth understanding of the competitive landscape, the report includes the profiles of some of the top players in the Water Cut Monitors market. They are Weatherford (Switzerland), Emerson (US), Phase Dynamics (US), and Ametek Inc. (US). The leading players are trying to enter the market of developing economies and are adopting various strategies to increase their market shares.

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
newsletter@marketsandmarkets.com

Portable Generator Market to Witness Comprehensive Growth by 2024

The global portable generator market size is expected to reach USD 2.5 billion by 2024 from an estimated value of USD 2.0 billion in 2019, at a CAGR of 4.1% during the forecast period. The market is set to grow due to increasing weather-related power outages and rising demand for uninterrupted and reliable power supply in developed and developing nations.

The residential segment is expected to be the largest portable generator market, by end-user, during the forecast period

Portable generators are used mainly for emergency power supply in case of weather-related power outages. Portable generators are used to run essential appliances such as lights, refrigerators, and fans. Apart from essential appliances, portable generators are also used for domestic recreational activities such as camping and picnic. Ease of start and portability are the main factors that drive the portable generator industry for residential end-users.

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The gasoline segment is projected to account for a major share of the portable generator market during the forecast period

The gasoline fuel-operated portable generators are expected to dominate the portable generator industry during the forecast period. Gasoline fuels are more compatible with small-capacity engines, and this is the main reason for the large market share of gasoline-powered generators. Apart from compatibility, the availability of fuel and clean operation are also the major factors for the growth of gasoline portable generators.

The emergency segment is projected to account for the largest share of the portable generator industry during the forecast period

The emergency segment is projected to dominate the portable generator market share based on the application. Increasing weather-related power outages and aging power generation & distribution networks are expected to drive the emergency portable generator segment during the forecast period.

The 5–10 kW segment is projected to dominate the portable generator industry throughout the forecast period

The 5–10 kW segment is expected to dominate the market, by power rating, during the forecast period. The 5–10 kW portable generator market is growing because its usage in construction-related activities in the Asia Pacific region is very high. Also, in North America, during frequent power outages in areas such as Puerto Rico and Mexico, users mostly prefer the 5–10 kW portable generators for power backup.

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North America is projected to dominate the global portable generator market during the forecast period

In this report, the market has been analyzed with respect to five regions, namely, North America, Europe, Asia Pacific, South America, and the Middle East & Africa. North America is expected to lead the market during the forecast period.

The increasing number of weather-related power outages due to natural calamities such as hurricanes and heat waves are disrupting the power supply to millions of residential and commercial users. Because of these unfortunate incidents, the demand for portable generators is increasing in the North American market.

Key players -

To offer an in-depth understanding of the competitive landscape, the report includes profiles of some of the leading players such as Honda (Japan), Briggs & Stratton (US), Atlas Copco (Sweden), Generac (US), and Yamaha (Japan), Cummins (US), Caterpillar (US), and Wacker Neuson (Germany).

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Key Questions Addressed by the Report

• What are the revolutionary technology trends that could be witnessed over the next five years?
• What will be the revenue pockets for the portable generator market in the next five years?
• Which of the type segments will have the maximum opportunity to grow during the forecast period?
• Which will be the leading regions with the largest market share by 2024?
• How are the companies implementing organic and inorganic strategies to gain increased market share?

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
newsletter@marketsandmarkets.com

Enhanced Oil Recovery Market 2020 Future Growth Explored in Latest Research Report by 2025

The global enhanced oil recovery market size is projected to reach USD 43.3 billion by 2025 from an estimated USD 59.4 billion in 2020, at a CAGR of 6.5% during the forecast period. Increased production from mature fields and the upsurge in the oil & gas production by countries owing to rising demand from the Asia Pacific. This has led to the enhancement of productivity of oil & gas wells , thus driving the market for global enhanced oil recovery.

The enhanced oil recovery market has promising growth potential due to growing shale activities. It is difficult to extract oil & gas from shale reservoirs due to its highly impermeable nature. According to the IEA, shale production from the US alone is expected to increase by 100 million barrels per day. Shale development in other countries such as China and Argentina are also likely to boost the well production activities in these countries, which is expected to drive the enhanced oil recovery market in North America, Latin America, and Asia Pacific.

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The enhanced oil recovery market, by technology, is segmented into thermal EOR, Chemical EOR, Gas EOR, and others. The gas EOR segment of the enhanced oil recovery market is expected to grow at the highest CAGR during the forecast period, as there is an increasing demand for carbon-capturing technologies and the declining cost of carbon capturing and sequestration. The need to enhance production from mature reservoirs is expected to drive the market for this segment during the forecast period.

The enhanced oil recovery market, by application, is categorized into onshore and offshore. The South American offshore segment is expected to provide many opportunities for enhanced oil recovery market in the future, owing to huge drilling activities in offshore Brazil and Venezuela gas production activities. Growth is driven majorly by the increasing production of heavy oil and redevelopment of mature oilfields. Furthermore, the investments to deepwater offshore areas are expected to offer lucrative opportunities for the enhanced oil recovery manufacturers during the forecast period.

North America is estimated to be the fastest-growing market for enhanced oil recovery during the forecast period. The region has been segmented, by country, into the US, Canada, and Mexico. The increasing shale oil & gas production in the North America region is driving the enhanced oil recovery market in this region. In the US, according to the EIA, by 2040, tight oil production and shale gas production is expected to reach 7.08 million BPD and 79 billion cubic feet per day, respectively. Moreover, the country has been experiencing huge investments from upstream operators to increase the production from the depleting fields, along with rising production rates of oil sands in Canada. Increasing exploration and productivities activities in ultra-deepwater locations in the Gulf of Mexico, which is likely to drive the North American enhanced oil recovery market.

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Recent Developments -

• In September 2019, TechnipFMC opened a surface international facility in ICAD II. The scope of the investment was to assist ADNOC to enhance its operations in Abu Dhabi. The new facility offered a broad range of TechnipFMC portfolio with its high technology equipment in drilling, completion, production, and pressure control segments.
• In November 2018, BP announced its first offshore deployment LoSal enhanced oil recovery technology to its Clair Ridge project in the West of Shetland region, offshore of the UK. BP owns 28.6% of the interest in the Clair field.
• In September 2018, BASF and Letter One recently signed an agreement to merge their respective oil and gas businesses in a joint venture, which will operate under the name Wintershall DEA.
• In August 2018, Baker Hughes Company was awarded a contract by Cairn Oil & Gas, Vedanta Limited to construct ~300 new wells and deploy a chemical EOR program aimed at increasing production from the Rajasthan area.

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
newsletter@marketsandmarkets.com

COVID-19 Impact on the Battery Energy Storage Market All Set to Witness Massive Growth during Forecast 2021

Battery energy storage systems are rechargeable battery systems that store energy from renewable energy sources such as solar arrays or the electric grid and provide that energy to end-users. Battery energy storage systems mainly include lithium-ion batteries because of their high energy density. Asia Pacific is the major hub for global lithium-ion battery manufacturing, and China is the world’s largest lithium-ion battery manufacturer. The outbreak of COVID-19 has impacted the battery energy storage market as major lithium-ion manufactures are facing issues with a shortage of components and raw materials from lower tier suppliers in the country. One of the key market opportunities is the fall in prices of lithium-ion batteries in recent years. The cost of lithium-ion batteries could fall up to USD 160 per kWh by 2025, which will create new growth opportunities for the energy storage market in the long term. The other key growth opportunity during the COVID-19 outbreak for the market is planned projects and investment in grid-scale battery energy storage projects in North America, Europe, and Asia Pacific regions from 2020 to 2023.

MarketsandMarkets projects that the global battery energy storage market size is projected to grow from USD 5.7 billion in 2020 to USD 7.3 billion by 2021 during the forecast period. The growing need for continuous power from critical infrastructure sectors such as hospitals, data centers, military zones, and government cantonment zones has helped drive the demand for continuous power and energy storage systems.

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The battery energy storage market is driven by the need to integrate renewable energy sources and rural electrification. However, the increasing government focus on healthcare and economic slowdown due to the COVID-19 outbreak will undoubtedly act as a major restraint for the market growth. The energy storage sector is expected to get revival from government stimulus packages and extension of tax credits. These initiatives will further create opportunities for battery energy storage operators to implement projects continuously.

Lithium-ion batteries dominate the current market for utility-scale battery storage in the world. Due to the COVID-19 pandemic, according to the NREL, technological innovations in lithium-ion chemistries and improved manufacturing capacity have resulted in a steep price decline of over 70%, and prices are projected to decline further which will create new growth opportunities for the energy storage market in the long term. The other key growth opportunity during the COVID-19 outbreak for the market is planned projects and investment in grid-scale battery energy storage projects in North America, Europe, and Asia Pacific regions from 2020 to 2023.

The utilities segment, by application, is dominating the battery energy storage market, and the trend is anticipated to continue during the forecast period as well. According to the US EIA and NREL, utility-owned battery energy storage systems play a crucial role in the operations of current and future energy generation mix of a country. In addition to the system flexibility they provide, battery energy storage systems also offer reliable interconnections in neighboring power systems. The utility-owned segment is mainly being driven by increasing financial incentives and regulatory supports from the governments globally.

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In terms of geographic coverage, the battery energy storage market is segmented into four regions due to the COVID-19 outbreak, namely North America, Europe, Asia Pacific, and Rest of the World (RoW). The Rest of the World includes regions such as South America, Middle East, and Africa. Asia Pacific is projected to dominate the market during the forecast period due to the increasing demand for battery energy storage systems for grid balancing and rural electrification activities in China, India, and Japan. However, the COVID-19 outbreak brought China’s battery energy component production to a standstill. North America is the second largest market. The US is also facing supply chain issues as it mainly sources battery parts from China.

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
newsletter@marketsandmarkets.com

Oil Accumulator Market Expected to Witness the Highest Growth during 2020-2023

The oil accumulator market is expected to grow from an estimated USD 488.5 million in 2018 to USD 617.1 million by 2023, at a CAGR of 4.78%, during the forecast period. The market is set to witness growth because of the digital revolution in the oil & gas industry and shale gas exploration in the US.

Bladder segment is expected to be the largest oil accumulator market, by type, in 2018.

The bladder segment of the oil accumulator market, by type, is expected to be the largest market from 2018 to 2023. Factors such as high investment in onshore and offshore industries are driving the oil accumulator market. The strong market share of bladder accumulators is attributed to high preference of customers for this type of accumulator, which is further expected to continue holding the largest share in the future with new API regulations. Another advantage of bladder accumulators is that it can be used for almost many offshore applications and has high durability compared with other types.

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Up to 6,000 PSI segment is expected to be the fastest oil accumulator market, by pressure ratings, during the forecast period.

The up to 6,000 PSI segment is expected to be the fastest growing oil accumulator market from 2018 to 2023. This is due to various factors, including rising investments in the oil & gas industries. Consumption of accumulators of pressure ranges up to 6,000 psi is higher because of the application of multiple units in place of a single unit to avoid idle time during production or drilling; this is expected to drive the up to 6,000 PSI segment of the oil accumulator market.

The scope of the report:

• By Type
  • Bladder Accumulator
  • Piston Accumulator
  • Diaphragm Accumulator
• By Pressure Rating
  • Up to 6,000 Psi
  • Above 6,000 Psi
• By Onshore Vs Offshore
  • Up to 6,000 Psi
  • Above 6,000 Psi
• By Application
  • Blow out preventer & well head control
  • Offshore rigs
  • Mud pumps
• By Region
  • Asia Pacific
  • Europe
  • North America
  • Middle East
  • Africa
  • South America

North America: Largest oil accumulator market during the forecast period.

In this report, the oil accumulator market has been analyzed with respect to 5 regions, namely, Asia Pacific, North America, Europe, the Middle East & Africa, and South America. North America is the largest oil accumulator market, by region, during the forecast period. Digitalization in the oil & gas industry, shale gas exploration in the US, and supportive government plans are expected to drive the market for oil accumulators in this region. The US and Canada are the leading countries, among others, which are likely to contribute to the growth of the oil accumulator market in North America.

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To enable an in-depth understanding of the competitive landscape, the report includes the profiles of some of the top players in the oil accumulator market such as Hydac (Germany), Parker Hannifin (US), Eaton (Ireland), Freudenberg (Germany), Bosch Rexroth (Germany), and Nippon Accumulator (Japan).

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
newsletter@marketsandmarkets.com

Explore the Microgrid Control System Market | By Company Profiles | Size | Share | Growth | Trends and Forecast To 2023

The microgrid control system market is expected to grow from an estimated USD 2.0 billion in 2018 to USD 3.6 billion by 2023, at a CAGR of 13.01%. Increasing investments in electric networks, refurbishment of the existing grid networks, and growing adoption of renewable energy sources across the globe are likely to drive the microgrid control system market. Rising electrification projects and advancement in the Internet of Things (IoT), as well as communication technologies, can lead to opportunities in the microgrid control system market.

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The off-grid segment is expected to hold the largest share of the microgrid control system market, by grid-type, during the forecast period.

The off-grid segment led the microgrid control system market in 2018 and is projected to have the largest market share during the forecast period. Remote/island/off-grid microgrids are mainly used to provide diverse power sources for geographically remote communities and developing countries. This growth can be attributed mainly to the growing demand to attain reliable and sustainable power supply majorly in rural areas of the Asia Pacific and the Middle East & Africa region. Also, these type of microgrid control systems have a huge demand in military bases, mining, and oil & gas industries. Increasing focus to reduce diesel fuel consumption by integrating solar PV and distributed wind further drives the microgrid control system market.

This research report categorizes the microgrid control system market based on grid-type, ownership, component, end-user, and region

On the basis of grid-type, the market has been segmented as follows:

• On-Grid
• Off-Grid

On the basis of component, the market has been segmented as follows:

• Hardware
• Software

On the basis of ownership, the market has been segmented as follows:

• Private
• Public

On the basis of end-user, the market has been segmented as follows:

• Utilities
• Campuses and Institutions
• Commercial and Industrial
• Others (Defense & datacenters)

On the basis of region, the market has been segmented as follows:

• Asia Pacific
• Europe
• North America
• Middle East & Africa
• South America

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The private segment is expected to hold the largest share of the microgrid control system market, by ownership, during the forecast period.

The private segment led the microgrid control system market in 2018. Factors such as increasing demand for electricity, rising power generation capacity, and increasing usage of renewable sources to generate electricity are expected to boost the demand for the private microgrid control systems. Private players find microgrid control system’s major application in defence, university campuses, and commercial and industrial end-users. Also, rising investments in electrification projects, in which microgrid technologies are highly deployed encourages private players to invest in the microgrid control system.

Asia Pacific: The leading market for microgrid control system market

In this report, the microgrid control system market has been analyzed with respect to 5 regions, namely, Asia Pacific, North America, Europe, South America, and the Middle East & Africa. Asia Pacific led the global microgrid control system market in 2017. The high growth rate in the Asia Pacific region can be attributed to increased investments in the electric grid development and growing reliance on renewable sources of power generation. China and India are the largest markets for microgrid control system market in the region. China accounts for the largest share owing to the increasing investment in electrification projects, the country accounted for highest installed generation and distribution capacity in the Asia Pacific region, resulting in an increased demand for the microgrid control system.

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To enable an in-depth understanding of the competitive landscape, the report includes the profiles of some of the top players in the microgrid control system market. The key players are ABB (Switzerland), GE (US), Siemens (Germany), Schneider (France), Eaton (Ireland), Emerson (US), Spirae (US), Schweitzer Engineering Laboratories, Inc.  (US), ETAP (US), S&C Electric (US), Woodward, Inc. (US), PowerSecure (US), RT SOFT (Germany), Ontech Electric Corporation (China). Contracts & agreements was one of the key strategies adopted by the players to strengthen their global presence and offerings.

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