New ARC research shows significant growth in the market for Microgrid Automation Systems. While the electric grid is decarbonizing fast, the microgrid architecture is gaining popularity. The main driver for microgrids continues to be improved resilience and reliability. Electric power is increasingly essential for businesses and residents and the costs of outages have increased, as industry, commercial, and especially residential electric customers have seen large increases of financial losses due to power failures over the past 5 years. Local solar power and grid scale batteries can be integrated with existing fossil-powered backup generators to easily form a microgrid. Suppliers make control and protection systems that can improve reliability and optimize operation.
"The reason microgrids are growing fast is economics. Over the past 5 years, the cost of power in the US increased by about 26 percent. Since 2017, the critical components cost of microgrids has dropped. For example, the average cost of a US commercial PV system has fallen by about 60 percent and the average cost of a US grid-scale battery has fallen by about 75 percent. At the same time, the average cost of a power failure to both commercial and residential customers has nearly doubled since 2017, while weather related power failures have increased significantly. The ability to provide local power cheaper than grid power and avoid the cost of power failures is a major economic factor driving microgrids. While the US leads microgrid growth, followed by Europe and Asia, both Latin America and African countries are finding microgrids to be a popular way to bring power to poorly served areas," according to Rick Rys, Director of Consulting and key author of ARC's Microgrid Automation Systems Market Research.
Microgrid Automation Market Trends
In addition to providing detailed competitive market share data, the report also addresses key market trends as follows:
- Customer Demand for Resilience & Reliability
- Discrete Industry
- Government Incentives
- Power Costs
- Renewable Power
- Strong Growth Continues
Leading Suppliers to the Microgrid Automation Systems Market Identified
In addition to providing specific market data and industry trends, this ARC market research also identifies and positions the leading suppliers to this market and provides and summarizes their relevant offerings. An alphabetical list of key suppliers covered in this analysis includes: General Electric, Hitachi Energy, NARI, Schneider Electric, Siemens.
About the Microgrid Automation Systems Research
The Microgrid Automation Systems research explores the current and future market performance and related technology and business trends and identifies leading technology suppliers. This new research is based on ARC’s industry-leading market research database, extensive primary and secondary research, and proprietary economic modelling techniques. The research includes competitive analysis, plus five-year market forecasts. The report segmentation includes Revenue Category, Sales Channel, World Region, Hardware by Type, Facility Type, Project Size, Software by Type, Services by Type, Overall Scope, Grid Size, Microgrid Power Source.
This new research is available in a variety of formats to meet the specific research and budgetary requirements of a wide variety of organizations. These include:
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- Concise Market Analysis Report (PDF): This wide-screen presentation format provides executives, business unit managers, and other users with immediate access to in-depth market analysis, including analysis associated with every market data chart and figure. Included is an executive-level summary of the current market dynamics, five-year market forecast, and competitive analysis, plus an overview of strategic issues. The PDF is available with a comprehensive set of charts with associated analysis.
- Market Intelligence Workbook (Excel Power Pivot, sold with Market Analysis Report PDF): A standard Excel Workbook, including base year market data and a five-year market forecast. This workbook enables licensed users to freely manipulate data, making it easier to analyze the latest data for business intelligence and generate custom reports.
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