LONDON--(BUSINESS WIRE)--Technavio has published a new report on the global remote microgrid, which is expected to grow at a CAGR of close to 13% from 2015-2019.
Remote microgrid market segmentation including application and geography
Technavio’s report analyses the solutions and products offered by market vendors and presents a comprehensive breakdown in terms of market segmentation for different applications, including village electrification, grid island systems, remote military microgrids and industrial remote mine systems.
Additionally, analysts have segmented market projections by key geography, focusing on the Americas, EMEA, and the APAC region.
The latest report by Technavio also underlines the increased investment in R&D by organizations and vendors in the global remote microgrid market. Key market vendors such as ABB, Siemens, and GE Electric have also increased their investments in R&D for the development of sophisticated remote microgrids.
“The financial support for remote microgrids by the US, the US agency for international development, and entities such as the Clinton climate initiative and the Bill Gates foundation, is expected to boost the market growth in the forecast period,” says Faisal Ghaus, Vice President of Technavio.
Remote microgrid: Market scope and calculation of market size
This report covers the present scenario and growth prospects for the global remote microgrid from 2015-2019. To calculate the market size, we considered revenue generated from the sales of global microgrid applications.
Industry analysis includes:
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Key Vendors:
- ABB
- GE Digital Energy
- Siemens Energy
- S&C Electric
- Toshiba
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Market Growth Drivers:
- Increasing demand for reliable power
- Intensification of distributed energy resources (DER)
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Market Challenges:
- High implementation cost
- Implementation and technical challenges
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Market Trends:
- Increase in R&D
- Rising demand for remote microgrids in military applications
View the global remote microgrid report.
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