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The microgrid control system market is projected to grow at a CAGR of 13.01%, from 2018 to 2023NEW YORK, Jan. 16, 2019 /PRNewswire/ -- The microgrid control system market is projected to grow at a CAGR of 13.01%, from 2018 to 2023. Middle East & Africa: The fastest growing market for microgrid control system market. The Middle East & Africa is estimated to be the fastest growing market for microgrid control systems in 2023 and is projected to grow at the highest CAGR during the forecast period.The Middle Eastern countries such as Saudi Arabia, the UAE, Qatar, and Kuwait have abundant natural resources such as crude oil & natural gas. Increase in population, urbanization, and the growth of the industrial sector have increased the demand for power in countries such as Saudi Arabia and the UAE.Also, these countries are planning to restructure their power sector by encouraging private sector investments. The increasing generation capacity, focus on renewables, and plans to increase the electrification rate are expected to drive the microgrid control system market in these regions. Breakdown of Primaries: In-depth interviews have been conducted with various key industry participants, subject-matter experts, C-level executives of key market players, and industry consultants, among other experts, to obtain and verify critical qualitative and quantitative information, as well as to assess future market prospects. The distribution of primary interviews is as follows: • By Company Type: Tier 1–55%, Tier 2– 25%, and Tier 3–20% • By Designation: C-Level- 35%, D-Level 30%, and Others-35% By Region: North America- 15%, Europe- 20%, Asia Pacific- 30%, the Middle East & Africa- 25%, and South America- 10% Note: Others includes product engineers and product specialists. Note: The tiers of the companies are defined on the basis of their total revenues as of 2017. Tier 1: >USD 1 billion, Tier 2: From USD 500 million to USD 1 billion, and Tier 3: The leading players in the microgrid control system market include ABB (Switzerland), GE (US), Siemens (Germany), Eaton (Ireland), Emerson (US), Schneider electric (France), Spirae (US), Schweitzer Engineering Laboratories, Inc. (Washington), ETAP (US), S&C electric (US), Woodward Inc (US), Powersecure (US), RTSoft (Germany), and Ontech Electric Corporation (China) Research Coverage: The report defines, describes, and forecasts the global microgrid control system market by grid-type, component, ownership, end-user, and region.It also offers a detailed qualitative and quantitative analysis of the market. The report provides a comprehensive review of the major market drivers, restraints, opportunities, and challenges.It also covers various important aspects of the market. These include an analysis of the competitive landscape, market dynamics, market estimates in terms of value, and future trends in the microgrid control system market. Why Buy this Report? 1. The report identifies and addresses key markets for microgrid control system market, which would help manufacturers review the growth in demand. 2. The report helps system providers understand the pulse of the market and provides insights into drivers, restraints, opportunities, and challenges. 3. The report will help key players understand the strategies of their competitors better and will help in making strategic decisions. Read the full report: https://www.reportlinker.com/p05721751 About Reportlinker ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place. __________________________ Contact Clare: [email protected] US: (339)-368-6001 Intl: +1 339-368-6001 View original content:http://www.prnewswire.com/news-releases/the-microgrid-control-system-market-is-projected-to-grow-at-a-cagr-of-13-01-from-2018-to-2023--300779323.html SOURCE Reportlinker |