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 in electric power systems. Utilizing cutting-edge digital technology, these grids facilitate two-way communication between distribution points, transmission lines, and consumers. Comprised of computers, automation, controls, and innovative technologies and equipment, smart grids enable real-time response to the dynamic electric demand. By enhancing grid resilience, smart grids fortify the power system against emergencies such as earthquakes, severe weather events, terrorist attacks, and solar flares. Moreover, these grids boast interactive capabilities, allowing for automatic rerouting when equipment fails or outages occur. During power outages, smart grid technologies swiftly detect and isolate the affected areas, preventing widespread 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 is witnessing significant growth due to infrastructure investment in power system optimization, renewable economics, and modernization initiatives. Renewable integration challenges, distributed generation impact, and power system stability require advanced AGC solutions for cybersecurity, data analytics, power system modeling, and smart deployment strategies. Reliability, efficiency measures, and productivity improvement are key focus areas, along with resilience strategies, power system protection, and storage solutions. The transition to renewable energy sources necessitates a roadmap for management systems, security, performance improvement, electricity generation, and power system control. Power system analysis, factory downtime reduction, and micro development are also important considerations for the market. Smart technologies, power system simulation, and power system protection are essential for ensuring power system stability, load changes, and transition to a more sustainable and efficient power system.

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 management solutions that ensure predictive maintenance, minimize variability, and address uncertainty in power generation. Key players in this market offer products such as governors, exciter systems, and protection relays. The global electrical components and equipment market encompasses manufacturers of various electrical products, including water heaters and accessories, motors, electrical distribution and protection equipment, and automation solutions, among others. Additionally, the market includes companies providing renting and leasing services for electrical components and equipment to industrial, commercial, and residential sectors.. 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/