LAMEA 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 Latin America, Middle East and Africa Microgrid Controller Market would witness market growth of 23.9% CAGR during the forecast period (2022-2028).
These systems store excess renewable energy while being equipped with cloud-based distant services, which optimizes the flow of energy. Microgrids can merge DER with cutting-edge automation and control technology, enabling simple power management with a view of fleets, locations, and activities.
The integration of various renewable power generation resources in a microgrid to the grid can increase the infiltration of renewable energies and transform the entire system into a smart grid with cutting-edge technologies. Future networks for smart grids will offer a real-time, omnidirectional flow of power and data.
The entire energy system, from the central command office to the end user levels, is equipped with smart, intelligent technology with contemporary digital controls. Better coordination and communication between all parties involved in the electricity industry, including power plant administrators, network operators, end users, and the government, will result from this.
In the Latin America region, the Caribbean, which suffered the brunt of numerous hurricanes that occurred over the past few years, is where microgrids are most commonly used. The Puerto Rico Electric Power Authority proposes to restructure the island's system so that it consists of eight sizable microgrids, each with a capacity of about 500 MW. This system is designed to prevent the severe power outages that Hurricane Maria caused in Puerto Rico in 2017.
The Brazil market dominated the LAMEA Microgrid Controller Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $206.1 million by 2028.The Argentina market is experiencing a CAGR of 24.5% during (2022 - 2028). Additionally, The UAE market would display a CAGR of 23.6% 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 Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
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
- Saudi Arabia
- South Africa
- Rest of LAMEA
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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