Automatic Generation Control Global Market Report 2024

The automatic generation control market size has grown strongly in recent years. It will grow from $10.87 billion in 2023 to $12.01 billion in 2024 at a compound annual growth rate (CAGR) of 10.5%. The growth experienced in the historical period can be credited to a variety of pivotal elements. These include fluctuations in power system loads, the incorporation of renewable energy sources into the grid, grid interconnections to bolster reliability and efficiency, the deployment of demand response initiatives to regulate peak demand, and instances of generation outages impacting power supply stability.

The automatic generation control market size is expected to see rapid growth in the next few years. It will grow to $16.57 billion in 2028 at a compound annual growth rate (CAGR) of 8.4%. Anticipated expansion in the forecast period is driven by a multitude of key factors. These encompass heightened adoption of distributed energy resources (DERs) such as solar and wind power, the integration of electric vehicles (EVs) into grid systems, greater convergence of energy markets to optimize efficiency and flexibility, and escalating apprehensions regarding cybersecurity in power infrastructure.

The automatic generation control (AGC) market is poised for significant growth due to an anticipated surge in electricity demand. This demand is driven by factors such as population growth, urbanization, economic progress, and technological advancements. AGC plays a crucial role in optimizing power system operations, mitigating energy imbalances, and ensuring a reliable electricity supply. For instance, in 2022, according to the data published by Our World in Data, a UK-based scientific online publication organization, US electricity demand increased from 4,192.9 TWh (terawatt-hour) in 2021 to 4,338.1 TWh (terawatt-hour) in 2022. therefore, this underscores the demand for surging electricity demand in automatic generation control (AGC) market.

Leading players in the automatic generation control market are focusing on developing innovative solutions to gain a competitive edge. One notable innovation is the advancement in building control systems, offering sophisticated functionalities for overseeing building operations. Honeywell International Inc., a prominent US-based technology firm, exemplifies this trend with the launch of its Advanced Control for Buildings platform in January 2024. This platform integrates advanced cybersecurity measures, accelerated network speeds, and innovative technologies to revolutionize building management, addressing challenges faced by building managers in optimizing safety, operational efficiency, and energy consumption. Leveraging automation and machine learning, it streamlines operations while ensuring cybersecurity and utilizing existing wiring infrastructures for enhanced network speeds.

In December 2021, Emerson Electric Co., a leading US-based manufacturing entity, finalized the acquisition of Mita-Teknik A/S, a Denmark-based company specializing in automatic generation control solutions for wind power generation. This strategic acquisition strengthens Emerson's commitment to offering comprehensive capabilities in wind power generation and automation solutions. It enhances Emerson's ability to optimize wind turbine operations and improve output in wind farms, thereby driving increased energy production and efficiency in the sector.

Major companies operating in the automatic generation control market are Hitachi Ltd., Siemens AG, GE-Alstom Grid LLC, General Electric Co., Mitsubishi Electric Corp., Schneider Electric SE, Honeywell International Inc., ASEA Brown Boveri Ltd., Larsen and Toubro Ltd., Emerson Electric Co., ANDRITZ AG, Rockwell Automation Inc., Wartsila Corp., ENERCON GmbH, Regal-Beloit Corporation, Hubbell Inc., Voith Group, Yokogawa Electric Corp., Woodward Inc., OSI Systems Inc., Schweitzer Engineering Laboratories Inc., DEIF A/S, Maverick Technologies LLC, ETAP Operation Technology Inc., Suzlon Energy Ltd.

Asia-Pacific was the largest region in the automatic generation control market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the automatic generation control market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the automatic generation control market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Automatic generation control (AGC) is a critical control process within power systems, operating continuously to maintain a balance between generation and load at the lowest possible cost. It functions to regulate the power output of generators in real-time, aligning it with the constantly fluctuating demand while ensuring the stability and reliability of the overall system.

The primary types of automatic generation control (AGC) include turbine governor control and load frequency control. Turbine governor control involves mechanisms or systems utilized to regulate the speed of a turbine, commonly employed in power generation applications. It encompasses a range of components, including hardware, software, and services, and finds application across various power generation methods, including hydropower plants, thermal power plants, nuclear power plants, solar power plants, and wind power plants.

The automatic generation control market research report is one of a series of new reports that provides automatic generation control market statistics, including automatic generation control industry global market size, regional shares, competitors with a automatic generation control market share, detailed automatic generation control market segments, market trends and opportunities, and any further data you may need to thrive in the automatic generation control industry. This automatic generation control market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The automatic generation control market consist revenues earned by entities by providing services such as frequency regulation, load following, generation dispatch optimization, and interconnection control. The market value includes the value of related goods sold by the service provider or included within the service offering. The automatic generation control market also includes of sales of AGC software platforms, control system integration, forecasting and analytics tools, and real-time monitoring devices. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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