Infinium Global Research has added a new report on Off Grid Power System Market.
The report presents analysis of global as well as regional markets of off grid
power system market over the period of 2016 to 2024. Off-grid solar power
systems are impartial systems that help households, commercial and industrial
buildings, mining sites, and telecom sector to generate their own power. These
systems are not connected to the grid for the generation of power. When the
utility power is unavailable or too expensive to bring to home or commercial
properties, solar panels or wind turbines allows becoming its own utility. When
utility power is not accessible DC solar power is less expensive than AC solar
power because an inverter is not required to convert the electricity produced
by solar panels and stored in batteries from DC to AC. The general range for a
solar battery's useful lifespan is between 5 and 15 years. Solar batteries are
significantly impacted by temperature, so protection the battery from freezing
or blistering temperatures can increase its useful life.
Increased consumption of energy and depleting natural
resources have increased the sales of the off-grid power supply which drives
the growth of the off-grid power system market. In addition, the demand for
offshore wind energy plants for remote sensing is boosting the growth of the
off-grid power system market. However, High installation cost compared to other
power generating sources are the factors restraining the growth of the off-grid
power system market. Furthermore,the declining costs of decentralized renewable
technology, the affordability and ease of access to off-grid technologies has
increased which in turn is anticipated to bring favorable opportunities for the
off-grid power system market. On the other hand, Government of India scheme
designed to provide continuous power supply to rural India in September 2017 by
the launch of Pradhan Mantri Sahaj Bijli Har Ghar Yojana or ‘Saubhagya’ Scheme.
The objective of the Saubhagya scheme is to provide energy access to all
through last mile connectivity, reaching all remaining un-electrified
households in rural and urban areas with electricity, to achieve universal
household electrification in the country by end of 2019. Among the geographies,
Asia Pacific dominated the off-grid power system market. According to the
International Energy Agency, India stands out as one of the largest
electrification success stories in history accounting for 2 out of every 5
people gaining access to electricity who hadn’t previously had access, since
2000. Moreover, the growth matrix presented by Infinium Global Research
identifies the key investment markets in the near future, this will not only
help the companies to understand the competitive position in the global off
grid power system market but also make strategic decisions to capture the most
lucrative markets in the near future. The market size is presented in terms of
value for the historic year 2016 and estimated for forecast period of
2018-2024.
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The recent report identified that Asia Pacific
dominated the global off grid power system market over the last couple of
years, while emerging markets of Asia-Pacific and Latin America are anticipated
to contribute significantly to the growth in the off grid power system market
worldwide.
The report segments the global off grid power system
market on the basis of Types and End-Users.
Global Off Grid Power System Market by Types
·
DC Only System
·
Mixed DC and AC System
·
AC Only System
·
AC System With Wind and Solar
·
AC System With Back-up
Global Off Grid Power System Market by
End-Users
·
Oil & Gas
·
Wind And Weather
·
Monitoring Stations
Companies Profiled in the Report
·
Koninklijke Philips N.V
·
Niwasolar
·
Tata Power Solar Systems Ltd.,
·
SunnyMoney
·
Omnivoltaic Power Co. Ltd.
·
WakaWaka
·
BBOXX Ltd.,
·
Sinoware Technology Co. Ltd.,
·
Azuri Technologies Ltd.
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