A new Technavio report offers global remote microgrid market segmentation by application (village electrification, green island system, remote military microgrids, and industrial remote mine systems), by geography (EMEA, APAC, and the Americas), and by key leading countries (US and China). Leading vendors in this market are ABB, GE Digital energy, S&C Electric, and IntelliTeam SG Automatic Restoration System.
Technavio has released updated information on the global microgrid market, with the publication of its new market research report, global remote microgrid market.
The global remote microgrid market is expected to grow at a rate of close to 13% from 2014 to 2019. APAC dominates this market during the forecast period, accounting for a share of more than 37%. Analysts estimate this region to surpass US$ 2,000 million in the next five years due to rapid industrialization in China, Japan, Australia, and India.
“Thanks to the rising demand for microgrids in military applications, secure energy can now be supplied to military bases in remote locations. Military establishments usually consume billions of kWh in terms of electricity and, therefore, require constant power for security reasons. Additionally, the introduction of initiatives like the Military Energy Security Act helps in the creation of corporations between military bases and national laboratories to develop safe and efficient microgrid systems,” says Navin Rajendra, Lead Analyst, Energy, Technavio Research.
An interesting trend in this market is the rise in popularity of the village electrification segment, which accounts for approximately 35% of the total market share. Rural areas generally contain military bases, which require huge amounts of electricity for their R&D activities. Thus, factors like the lack of proper smart grid connectivity and the high cost of power transmission over longer distances are expected to drive growth in this market.
Global remote microgrid market by application 2019
Source: Technavio, 2015
Top vendors in this market are ABB, GE Digital Energy, Siemens Energy, S&C Electrics, and Toshiba. This report includes an in-depth analysis and market shares and sizes of the sub-segments and geography. An analysis of the key companies, including their market shares, business overview, key financials, etc. is provided in this study. There are many key drivers, challenges, and opportunities that are discussed in detail.
More detailed analysis is available in the Technavio report Global Remote Microgrid Market 2015-2019.
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