Micro-rigid is a localized group of electric sources & loads that operates while connected to the wide area synchronous grid but can also disconnect and operate independently. And automation is the technology through which the micro-rigid functions are carried out with minimal human assistance. Hence micro rigid automation aids in carrying out various processes like emergency power supply, interchanging between island and connected modes etc. Various components of a micro-rigid automation are Inverter & Storage.
Microgrid Automation Market: Key Players
The research study includes profiles of leading companies operating in the global Microgrid Automation market. Key players profiled in the report include: ABB Group, AEG Power Solutions, Siemens AG, Honeywell Inc., Lockheed Martin Corporation, Phono Solar Technology Co. Ltd., Echelon Corporation, Schneider Electric, Wipro Limited and Microgrid Energy LLC.
Drivers for the Global Microgrid Automation Market:
Rising demand for uninterrupted, efficient & reliable electricity sources; various offices/commercial buildings, IT organization, manufacturing & production plants require a constant supply of electricity & cannot afford interruptions in energy supply as it directly hampers their production lines & the business. Hence these factors can increase the disposable income and growth of the industry.
Opportunities for the Global Microgrid Automation Market:
Moreover, rising adoption of digitization across several energy & service industries and increase in demand from consumers for flexible and reliable distribution of energy boosts the market. Hence these factors are going to provide opportunities for the future growth of the market.
Restrains for the Global Microgrid Automation Market:
However, high costs linked with the replacement of existing grids & the building of microgrid from scratch, many government entities; private & public organizations are failing to incorporate the technology, various economic & technological barriers, lack of expertise in handling automation operations & advancement of legacy equipment and the threat of cybersecurity is also increasing. Hence these factors can majorly hamper the growth of the market.
Region Wise, Global Microgrid Automation Market Analysis:
Asia-Pacific held major share in the market due to general economic conditions, investment in new technology, increasing economy, increase in the number of commercial areas and business organizations and various smart city initiatives & spending by government. Besides, North America and Europe held a large share in the market.
Global Microgrid Automation Market: Product analysis
- Fuel Cell
Global Microgrid Automation Market: Application analysis
Global Microgrid Automation Market: Region analysis
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of L.A.
- Middle East and Africa
- South Africa
- Rest of Middle East
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