Latest News- Automatic Generation Control Market: Non-renewable energy power plants is expected to lead the Application segment during 2025-2029

The Automatic Generation Control Market is being driven by Increase in number of residential and commercial building projects

The Automatic Generation Control Market is expected to grow at a CAGR of 3.3% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 247.2 million. In the realm of modern energy infrastructure, smart grids represent a significant advancement, leveraging digital technology for seamless two-way communication between distribution points, transmission lines, and consumers. Comprised of sophisticated computers, automation, controls, and innovative technologies and equipment, smart grids enable real-time responses to electric demand fluctuations. This digital responsiveness enhances grid resilience, enabling the system to better cope with emergencies such as earthquakes, extreme weather events, terrorist attacks, and solar flares. Furthermore, smart grids offer interactive capabilities, facilitating automatic rerouting when equipment fails or outages occur. During power outages, these advanced technologies swiftly detect and isolate outages, preventing them from escalating into large-scale blackouts. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Application
  • Non-renewable energy power plants
  • Renewable energy power plants
• Type
  • Turbine governor control
  • Load frequency control
  • Economic dispatch
• Component
  • Equipment
  • Solutions
  • Services
• End-user
  • Utilities
  • Industrial
  • Commercial
• Geography
  • APAC
    • China
    • India
    • Japan
    • South Korea
  • North America
    • Canada
    • US
  • Europe
    • Germany
    • UK
    • France
  • South America
  • Middle East and Africa

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Increase in number of residential and commercial building projects
• Growing number of nuclear power plants
• Rising renewable power generation

However, the market also witnesses some limitations, which are as follows:

• Threat from cyber-attacks in automatic generation control systems
• Fast-changing electricity requirements
• Closure of coal-fired power plants

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Market Scope in Automatic Generation Control Market Research Report

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Research Analysis Overview

The Automatic Generation Control (AGC) market encompasses infrastructure investments in power system optimization, renewable economics, and cybersecurity for infrastructure. It includes data analytics, power system modeling, modernization initiatives, and smart deployment strategies. Renewable integration challenges, distributed generation impact, and micro development require transition roadmaps, management systems, and productivity improvement. Storage solutions, power system protection, and power stability address efficiency measures and power system reliability. Power system analysis, electricity generation, and renewable integration involve performance improvement, production increase, and power system control. Power system planning incorporates sustainable solutions, power system resilience, and power system simulation to mitigate load changes and factory downtime reduction through the implementation of smart technologies.

Market Research Overview

The Automatic Generation Control (AGC) market is a significant segment of the larger global electrical components and equipment market. This market caters to the demand for power output optimization, predictive maintenance, smart infrastructure, and integration of renewable energy sources. Companies specializing in control algorithms, advanced technologies, and automation solutions are key players in this sector. The global electrical components and equipment market encompasses manufacturers of various electrical products, including water heaters and accessories, motors, electrical distribution and protection equipment, small generators, and HVAC systems, among others. Additionally, rental and leasing of electrical components and equipment to industrial, commercial, and residential sectors are included in the market size calculation.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
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UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/