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How has the automatic generation control market size evolved in recent years?

The market size for automatic generation control has seen a swift expansion over the past few years. The market is expected to rise from $12.95 billion in 2024 to a value of $14.27 billion in 2025, growing at a compound annual growth rate (CAGR) of 10.2%. The previous growth in this period can be associated with elements such as load fluctuations, the integration of renewable energy, grid interconnection, demand response programs, and generation outages.

What are the predictions for the automatic generation control market size in the coming years?

Expectations are high for robust growth in the automatic generation control market size over the next couple of years. The projections indicate an increase to $20.8 billion in 2029, with a Compound Annual Growth Rate (CAGR) of 9.9%. The anticipated growth during the forecast period is largely due to rising adoption of distributed energy resources, integration of electric vehicles (EVs), the merging of energy markets, and the pressing issue of cybersecurity. The forecast period is also set to witness key trends such as the increased use of edge computing, the integration of blockchain technology, the expansion of virtual power plants (VPPs), the rise of grid-interactive buildings, and adoption of multi-agent systems (MAS).

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What key factors are fueling the growth of the automatic generation control market?

The growth of automatic generation control markets is anticipated to be propelled by the escalating demand for electricity. Electricity, a form of energy, is a physical property related to the presence and movement of electric charges. Population growth, urbanisation, economic progression, and advances in technology are factors contributing to the surge in electricity demand. Automatic generation control (AGC) is deployed in power systems to ensure operational optimization, minimize energy inconsistencies, and guarantee a trustworthy electricity supply to consumers. As predicted by the International Energy Agency, a France-based independent intergovernmental organization, in January 2024, the global electricity demand is set to increase by 3.4% annually until 2026. The percentage of electricity in total energy consumption had increased to 20% in 2023. With data centres consuming about 460 terawatt-hours (TWh) in 2022 and projected to consume over 1,000 TWh by 2026, the burgeoning demand for electricity thus catalyzes the growth of the automatic generation control market.

How is the global automatic generation control market divided into key segments?

The automatic generation control market covered in this report is segmented –

1) By Type: Turbine Governor Control, Load Frequency Control

2) By Component: Hardware, Software, Services

3) By Application: Hydro Power Plant, Thermal Power Plant, Nuclear Power Plant, Solar Power Plant, Wind Power Plant

Subsegments:

1) By Turbine Governor Control: Steam Turbine Governor Control, Gas Turbine Governor Control, Hydro Turbine Governor Control, Combined Cycle Turbine Governor Control

2) By Load Frequency Control: Primary Frequency Control, Secondary Frequency Control, Tertiary Frequency Control, Economic Dispatch and Load Control

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Who are the key firms paving the way for growth in the automatic generation control market?

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.

Which trends are expected to transform the automatic generation control market?

Key players in the automatic generation control market, are strategically turning to innovation to stay ahead of the competition. One such innovation is the advanced control system for buildings, an intelligent solution that manages different operational aspects of a building like heating, ventilation, air conditioning (HVAC), lighting, security, and energy management. A case in point is Honeywell International Inc., a US-based tech firm, that unveiled its Advanced Control for Buildings in January 2024. This pioneering platform amalgamates top-notch cybersecurity, swift network speeds, and cutting-edge technology to overhaul building management. The platform is engineered to automate building operations, enrich energy efficiency, and tackle challenges faced by building managers in ensuring safety, optimizing operational and energy efficiency. The aim is to revolutionize building management and bolster energy efficiency. Further, it combines automation and machine learning to streamline operations with built-in cybersecurity and a technology enabling faster network speeds using existing wiring.

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What regions are contributing significantly to the growth of the automatic generation control market?

Asia-Pacific was the largest region in the automatic generation control market in 2024. 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.

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