You are here
Home > Business > Remote Power System Microgrid Market-Growth, Trends, and Forecast (2018-2023)

Remote Power System Microgrid Market-Growth, Trends, and Forecast (2018-2023)

High transmission losses, aging transmission infrastructure, lack of transmission & distribution network in rural areas, particularly in developing countries, and declining cost of the remote power systems are expected to drive the remote power system microgrid market during the forecast period.

Request sample copy of Global Remote Power System Microgrid Market at: http://orbisresearch.com/contacts/request-sample/2126684

Decreasing Cost of Renewable Energy to Drive the Market

Owing to technological advancements and manufacturing of equipment on a larger scale, the renewable power generation cost has declined over the years. Since 2010, the cost of onshore wind and solar photovoltaic (PV) electricity has fallen by 23% and 73%, respectively. The renewable power plants are suitable for providing power to remote locations, and hence, can be used as remote power generation systems. In developing countries, a significant percentage of rural population does not have access to the national power grid, thus, the potential for renewable remote power generation systems in such regions. With declining cost, the demand for renewable remote power generation system is expected to increase, which, in turn, is expected to drive the market during the forecast period.

Read details of the report at: http://orbisresearch.com/reports/index/global-remote-power-system-microgrid-market-growth-trends-and-forecast-2018-2023

North America to Register Significant Growth during the Forecast Period

North America has a large but aging transmission and distribution network. In the United States, though natural gas is the biggest contributor to electricity generation, coal still accounts for more than 30% of total power generation. The government, owing to concerns over air pollution, is taking steps to reduce the reliance on coal and is encouraging the use of gas and renewables. The power industry transformation is expected to require not only the expenditure on building new power plants but also on constructing new transmission and distribution network. In Canada and Mexico, the transmission losses are high due to aging infrastructure. As a result, due to the low requirement of transmission network and low carbon emission, remote power systems, such as renewable power plants and combined heat power plants, are becoming the more attractive choice in the United States, Canada, and Mexico. The growing number of remote power systems is expected to drive the remote power system microgrid market in the region.

Lack of Transmission Network and High Transmission Losses to Drive the Indian Market

In India, about 20% of the population does not have access to electricity. Majority of this population lives in rural areas, where the transmission network is not available. Another problem that the country’s transmission network faces is high transmission losses. Transmission losses claim about 18% of the power generated in the country. The Combined Heat Power (CHP) plants and renewable power plants, which can operate in remote areas, are considered a solution to both the prominent problems, along with lack of transmission network and high transmission losses. The power generation from remote power plants, particularly renewable power plants, is expected to register significant growth during the forecast period. The growing number of remote power plants is expected to drive the demand for remote power system microgrid during the forecast period.

Key Developments in the Market

September 2017: The Southern Alberta Institute of Technology was awarded a grant of USD 385,500 for research on the benefits of micro-CHP by Government of Canada. The research will be aimed at evaluation of the benefits of micro-CHP technology to reduce green gas emission, as well as ways to save money by the Albertans regarding heating and powering their homes. The research is expected to give insights into economic feasibility of micro-CHP in Canada.

The Major Players Include – General Electric, Schneider Electric, Siemens Industry Inc., S&C Electric Company, Honeywell International Inc., Johnson Controls, Bloom Energy, S&C Electric Company, Arista Power, ABB, and Burns & McDonnell, amongst others.

Reasons to Purchase the Report

  • Current and future remote power system microgrid market outlook in the developed and emerging markets
  • Analyzing various perspectives of the market with the help of Porter’s five forces analysis
  • The segment that is expected to dominate the market
  • Regions that are expected to witness the fastest growth during the forecast period
  • Identify the latest developments, market shares, and strategies employed by the major market players
  • 3-month analyst support, along with the Market Estimate sheet (in excel)

Customization of the Report

This report can be customized to meet your requirements. Please connect with our representative, who will ensure you get a report that suits your needs.

Companies Mentioned:

General Electric, Schneider Electric, Siemens Industry Inc., S&C Electric Company, Honeywell International Inc., Johnson Controls, Bloom Energy, S&C Electric Company, Arista Power, ABB, and Burns & McDonnell

Enquire more details of the report at: http://orbisresearch.com/contact/purchase/2126684

About Us:

Orbis Research (orbisresearch.com) is a single point aid for all your market research requirements. We have vast database of reports from the leading publishers and authors across the globe. We specialize in delivering customized reports as per the requirements of our clients. We have complete information about our publishers and hence are sure about the accuracy of the industries and verticals of their specialization. This helps our clients to map their needs and we produce the perfect required market research study for our clients.

Contact Information:

Hector Costello

Senior Manager – Client Engagements

4144N Central Expressway,

Suite 600, Dallas,

Texas – 75204, U.S.A.

Phone No.: +1 (214) 884-6817; +9164101019

 

 

Leave a Reply

Top