According to Future Market Insights, during the projection period, the global Modular Energy Control System market is set to reach a valuation of US$ 3.6 Bn by 2022, and further grow at a CAGR of 8.4% during 2022-2032. The top 3 nations are anticipated to control around 56.8% of the market by the end of 2022, as sales of modular energy control systems are expected to soar.
| Attributes | Details |
|---|---|
| Market Size 2022 | US$ 3.6 Billion |
| Market Size 2032 | US$ 8.2 Billion |
| Value CAGR (2022 to 2032) | 8.4% |
| Collective Value Share: Top 3 Countries (2022E) | 58.2% |
The global Modular Energy Control System market forms around 10-12% of the global energy management systems market which is worth US$ 32.8 Bn in 2021.
According to the FMI analysis, the Modular Energy Control System market reached over US$ 3.3 Bn in 2021. The global Modular Energy Control System market is anticipated to register a CAGR of 8.4% during 2022-2032. An essential element of energy management is the modular energy control system which is estimated to boost with the top 5 key players holding 43.7% of the global Modular Energy Control System market by the end of 2022.
Energy usage can be tracked and managed in accordance with consumption patterns by combining demand and supply side choices with an energy control system. An essential element of energy management is the modular energy control system. A new forecast by FMI analysis estimates that Modular Energy Control System sales will augment during 2022-2032 and is anticipated to create a growth opportunity of US$ 4.5 Bn.
Rising requirements for the distribution and conservation of energy resources worldwide are driving the development of alternative energy sources and energy conservation, which in turn are projected to spur growth for the Modular Energy Control Systems market during the forecast period.
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The global Modular Energy Control System market witnessed a CAGR of 6.9% during the historic period with a market value of US$ 3.3 Bn in 2021.
An energy consumer can easily balance the production, usage, and storage of electricity by using an energy-efficient modular energy control system. With this system, consumers can store the energy produced by several different sources such as PV panels, batteries, etc. Consumers can save energy using modular energy control systems in tandem with today's conventional systems. However, the equipment required to integrate and coordinate energy balancing may be bulky and expensive which is anticipated to surge the growth of Modular Energy Control Systems in several geographies
The energy management system focuses primarily on energy consumption, however, by integrating demand and supply side options with energy consumption choices, various modular energy control systems can be used to increase energy and cost savings. The need for energy efficiency and alternative energy sources has grown as global energy demand has expanded under pressure from environmental concerns and volatile energy prices. Energy control systems are anticipated to expand during the forecast period because of their added advantages, such as instantaneous energy usage monitoring.
Sustainable growth and the ability to coexist with nature will need to be enhanced based on the usefulness of alternative energy sources. Renewable energy sources such as solar energy are a major contributor due to their immense availability, low cost, simplicity of usage, and application in a number of different fields. In a number of applications, researchers have attempted to use solar energy for power creation.
The need for compatible energy systems is growing due to a rise in the adoption of PV panels and their use in electrical infrastructure in homes, offices, and factories. By improving energy efficiency and lowering operating costs for end users, the smart energy management system prioritizes the efficient distribution and use of electricity.
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Industrial Applications for modular energy control systems are prominently rising, owing to optimization in operating costs of electricity and provision of real-time data for energy consumption. Industrial End Use Application segment is estimated to hold approximately 35.2% of the global Modular Energy Control System market by the end of 2032.
Due to real-time data on energy use and storage, there is an increasing demand for energy control systems to meet this demand for efficient energy generation, consumption, and storage. The need for worldwide modular energy control systems is being driven by the monitoring and control applications that these systems offer in accordance with end user consumption patterns.
In the U.S., the rising awareness among consumers and changing policies from the government is anticipated to drive the demand for Modular Energy Control System during the forecast period. The U.S. is projected to hold around 24.3% of the North American Modular Energy Control System market by the end of 2032.
Large amounts of electricity are consumed as a result of its numerous applications in infrastructure for homes, businesses, and industries. Due to their increasing demand, low energy costs, and effective energy use, manufacturers are concentrating on small and medium-sized, energy-intensive businesses.
German industries' most outstanding manufacturing practices, in which multiple power resources and water are successfully combined, are expected to hold and capture approximately 7.9 % of the marketplace throughout the entire year 2022. Modular energy control systems are anticipated to grow in popularity due to ever-increasing restrictions regarding greenhouse emissions.
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The key players operating in the Modular Energy Control System market are focusing on expanding their capacities and resources to meet the growing demand for sustainable energy control systems including Modular Energy Control Systems by establishing new factories. Also, the key players are adopting collaboration & joint venture strategies to increase their presence and resources.
| Attribute | Details |
|---|---|
| Growth Rate | CAGR of 8.4% from 2022 to 2032 |
| Base Year for Estimation | 2022 |
| Historical Data | 2017 to 2021 |
| Forecast Period | 2022 to 2032 |
| Quantitative Units | Revenue in USD Billion, Volume (Units)and CAGR from 2022 to 2032 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis |
| Segments Covered | Component Type, Source Type, Application, Region |
| Regions Covered | North America; Latin America; Europe; East Asia; South Asia & Pacific; Middle East and Africa |
| Key Countries Covered | USA, Canada, Mexico, Brazil, Germany, UK, France, Italy, Spain, BENELUX, Russia, China, Japan, South Korea, India, ASEAN, ANZ, GCC Countries, Turkey, South Africa, Northern Africa |
| Key Companies Profiled | SolarWatt; GridPoint; Joulex Energy; SAPSE; Schneider Electric; Aleo Solar; Nuvation Energy; EnergyCAP; PowerLogic ION EEM; eSight Energy; Hara EEM |
| Customization & Pricing | Available upon Request |
In 2021, the value of the global Modular Energy Control System market reached over US$ 3.3 Bn.
During the forecast period, the global Modular Energy Control System market is estimated to expand at a CAGR of 8.4% during 2022-2032.
The global Modular Energy Control System market is projected to reach US$ 8.2 Bn by the end of 2032.
The demand for modular energy control systems is rising as a result of the growing need for efficient energy generation, use, and storage.
The key players operating in the Modular Energy Control System market are JouleX Energy Manager, Utilities Direct, SAPSE, EnergyCAP, Schneider Electric,PowerLogic ION EEM.
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Modular Energy Control System Market
