Microgrid Control System Market Size, Share, Growth Analysis, By Grid Type(On-Grid, Off-Grid, Hybrid), By Component(Hardware, Software), By Ownership(Private, Public), By End-User(Utilities, Campuses & Institution, Residential, Commercial), By Region - Industry Forecast 2024-2031

Microgrid Control System Market size was valued at USD 2.47 billion in 2022 and is poised to grow from USD 2.8 billion in 2023 to USD 7.5 billion by 2031, growing at a CAGR of 13.3% in the forecast period (2024-2031).

In the event of a power outage or outage, the microgrid ensures electricity supply. It also offers extra support and distributes the load connected to the main grid. Microgrid control systems are being adopted at a faster rate as the need for power in rural regions grows. The deployment of microgrids calls for the development of effective and dependable control systems that can manage the complexity of these new systems as they merge with emerging technologies like fuel cells.

The sector has been compelled to employ effective energy conservation techniques as a result of expanding environmental protection initiatives and stringent rules that restrict greenhouse gas emissions. At the center of this movement was the reorganization of policies and procedures in key energy markets, which was aided by ongoing product advancements in terms of technological performance, flexibility, and efficiency. In addition, modern distributed power generating systems will propel the microgrid control system market in tandem with the explosive expansion of the infrastructure for renewable energy sources.

US Microgrid Control System Market is poised to grow at a sustainable CAGR for the next forecast year.