This report presents detailed segmentation of the remote microgrid market by application (village electrification, grid island system, industrial remote mine systems, and remote military microgrids), and by geography (APAC, Americas, and EMEA). Key findings in the report also include an analysis of the leading vendors such as ABB, GE Digital, Siemens, and Toshiba.
Technavio has released updated information on the microgrid market, with the publication of its new report, global remote microgrid market. The global remote microgrid market is expected to grow at a CAGR of around 13% between 2015 and 2019.
APAC is the dominant region in the global remote microgrid market, occupying around 37% of the total market share. Growing need for energy-efficient power and renewable solutions in the rural areas of APAC have led to an increased usage of remote microgrids in this region. India and China are the primary revenue contributors to this market.
Various governments across the world are encouraging remote microgrid installations to ensure uninterrupted and secure electricity supply to end-users such as military establishments, rural areas, and mining sites. Governments are providing incentives to endorse the use of renewable power generation and electric vehicles, which has triggered the demand for microgrids.
“Remote microgrids have become compulsory to manage the huge amounts of renewable energy generated by energy developers to reduce CO2 emissions. Consequently, the market vendors are integrating renewable energy sources such as wind and solar energy with remote microgrids. Implementation of microgrids is enabling the use of PV arrays, which decrease the use of fossil fuels, thereby monitoring CO2 emissions,” says Navin Rajendra, Lead Analyst, Energy, Technavio Research.
Leading vendors in the global remote microgrid market include ABB, GE Digital, Siemens, and Toshiba. The market is observing increased investment in R&D by several organizations and vendors. Several specialized organizations such as the Microgrid Institutes in the US, are working on microgrid development projects. Key players such as ABB, Siemens, and GE Electric are also collaborating with suppliers and value-added resellers in the development of sophisticated microgrids.
A more detailed analysis is available in the Technavio report, Global Remote Microgrid Market – Industry Analysis 2015-2019.
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