Europe Microgrid Controller Market Size, Share & Industry Trends Analysis Report By Connectivity (Grid Connected and Off-grid Connected), By Offering (Hardware, Software and Services), By End User, By Country and Growth Forecast, 2022 - 2028
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Market Report Description
The Europe Microgrid Controller Market would witness market growth of 21.6% CAGR during the forecast period (2022-2028).
Single-user and faculty microgrids, like those that serve a military base or an industrial site, have been around for decades. A microgrid's functionality is dependent on certain factors like the number of customers, type of loads, and connection type. Microgrids can supply power to a single building, several people in a small region, or a whole neighborhood.
The number of people a microgrid has to cater to decide the size of this machine. Microgrid sizes typically vary from 100 kW to several megawatts (MW). When it comes to loading types, microgrids can be categorized as general ones or community ones. A general-purpose microgrid offers or complements the services that consumers may otherwise acquire from the macrogrid.
A "community microgrid" serves the wider populace by running cell towers, fire and police stations, and emergency water and wastewater pumps. Community microgrids could also meet general purpose needs by supplying electricity to replace or enhance daily service from the macrogrid. An off-grid system must be a suitable power supply for its user because it is not connected to the macrogrid.
Some EU Framework Programs (FPs) support extensive R&D efforts that go hand in hand with microgrid development in the EU. Demonstration projects have been created since FP 5 with an emphasis on utility-scale multi-microgrid, control, and operation, as well as island and remote microgrid systems. The centralization of production and consumption in the European Union's electric power sector has negative effects on the economy, the environment, and technology.
The Germany market dominated the Europe Microgrid Controller Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $804.7 million by 2028.The UK market is anticipated to grow at a CAGR of 20.6% during (2022 - 2028). Additionally, The France market would display a CAGR of 22.5% during (2022 - 2028).
Based on Connectivity, the market is segmented into Grid Connected and Off-grid Connected. Based on Offering, the market is segmented into Hardware, Software and Services. Based on End User, the market is segmented into Remote Areas, Commercial & Industrial, Military, Government, Utilities, Manufacturing and Healthcare. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Global Microgrid Controller Market will Hit $12.6 Billion by 2028, at a CAGR of 21.8%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Siemens AG, General Electric (GE) Co., Schneider Electric SE, ABB Group, Honeywell International, Inc., Eaton Corporation, Caterpillar, Inc., S&C Electric Company, Cummins, Inc., and Emerson Electric Co.
Scope of the Study
Market Segments Covered in the Report:
- Grid Connected
- Off-grid Connected
By End User
- Remote Areas
- Commercial & Industrial
- Rest of Europe
Key Market Players
List of Companies Profiled in the Report:
- Siemens AG
- General Electric (GE) Co.
- Schneider Electric SE
- ABB Group
- Honeywell International, Inc.
- Eaton Corporation
- Caterpillar, Inc.
- S&C Electric Company
- Cummins, Inc.
- Emerson Electric Co.
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