DUBLIN, July 01, 2015 /PRNewswire/ --
Research and Markets(http://www.researchandmarkets.com/research/m6fd48/global_off_grid) has announced the addition of the "Global Off Grid Market by Application, by Consumption Pattern, by Geography - Analysis and Forecast to 2019" report to their offering.
The Global Off-Grid Market report defines and segments this market with analysis and forecast of revenue. This market was valued at $3,179.8 million in 2014, and is expected to reach $7,199.5 million by 2019, at a CAGR of 17.8% from 2014 to 2019. High power reliability level and the need for an effective demand-response load management present a conducive ecosystem for off-grid to flourish.
Off-grid micro-grids provide distributed and diverse power sources for geographically remote communities and developing countries. With the expansion of electricity infrastructure in developing countries, many remote micro-grids are being designed to be self-sufficient to cater to the complex set ups, such as remote islands or distant villages where transmission via traditional electric utility players is not viable. A remote or off-grid or isolated or de-centralized micro-grid is usually built in areas that are far from any transmission and distribution infrastructure, therefore, have no connection to the utility grid. Since these micro-grids never connect to a larger grid and operate in an island mode, a greater need exists for storage as compared to other grid-tied micro-grids. Many of these micro-grids are designed to reduce diesel fuel consumption by integrating solar PV and distributed wind.
Though, there are numerous remote power generation facilities across the globe, not all fulfill the criteria of a micro grid. Some of the remote micro grids include the ones deployed at military bases in Iraq and Afghanistan. Commercially, remote micro-grids are considered to be an appropriate energy solution for remote and rural set locations.
The scenario of investments in the remote micro-grid sector is improving as industry giants such as General Electric (U.S.) and ABB Limited (Switzerland) are eyeing this segment.
Most of the players are trying to consolidate their market position through strategies which comprise mergers and acquisitions. For instance, ABB Limited (Switzerland) acquired Powercorp (Australia) to strengthen its portfolio of control technologies used to manage the integration of renewable energy into conventional micro and remote island grids.
Major companies in the global off-grid market are ABB Ltd. (U.S.), Siemens AG (Germany), Honeywell International (U.S.), General Electric (U.S.), Lockheed Martin Corp. (U.S.), and Eaton Corporation (Ireland), among others.
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Market Overview
5 Off-Grid Market, By Application
6 Off-Grid Market, By Consumption Pattern
7 Off-Grid Market, By Geography
8 Off-Grid Market: Competitive Landscape
9 Off-Grid Market, By Company
- ABB Ltd. (U.S.),
- Eaton Corporation (Ireland)
- General Electric (U.S.)
- Honeywell International (U.S.)
- Lockheed Martin Corp. (U.S.)
- Siemens AG (Germany)
For more information visit http://www.researchandmarkets.com/research/m6fd48/global_off_grid
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SOURCE Research and Markets