Off Grid Power System Market Estimated to Expand at a Robust CAGR over 2024
The Report in light of Global Off Grid Power System Market is the latest extension to the database of Infinium Global Research. This exploration investigates in light of uses, advancement, geology, and sorts. The Report gives a clear Global Off Grid Power System Market audit nearby the examination of industry’s gross edge, cost structure, usage esteem, and deal cost. The principle partnership of the Off Grid Power System Market, makers, and dealers are profiled in the report close by the latest Industry change present and future examples. The report also deep dives into the sub-segments of Off Grid Power System Market by Koninklijke Philips N.V, Niwasolar, Tata Power Solar Systems Ltd., SunnyMoney, Omnivoltaic Power Co. Ltd., WakaWaka, BBOXX Ltd., Sinoware Technology Co. Ltd., and Azuri Technologies Ltd. through main geographies in the Global Market such as North America, Europe, Asia-Pacific and RoW.
The report covers market changing aspects including drivers, restraints, opportunities, and trends expected to encouragement the expansion of the Off Grid Power System Market during the said period. The report also provides market attractiveness analysis, by geography, and market share analysis, by key players respectively. Some of the prominent participants in the Global Off Grid Power System Market are types (DC only system, mixed DC and AC system, AC only system, AC system with wind and solar and AC system with back-up), end-users (oil & gas, wind and weather and monitoring stations).
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Government of India scheme designed to provide continuous power supply to rural to promote growth in the Off Grid Power System market
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.
Asia Pacific region to contribute to growth in the global Off Grid Power System market
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.
EDF in partnership to deliver off-grid power in Ghana
In January 2018-, EDF and African start-up Off Grid Electric have formed a joint venture named Zegha to supply Ghana. EDF said the power kits would comprise solar panels and batteries for storing electricity, as well as energy-efficient appliances such as radios, TVs, and mobile-phone chargers.
TellCo Europe Nigeria rolls out the higher off-grid solar power system
In May 2018-, TellCo Europe Nigeria has announced its plan to introduce into the Nigerian market, TellCoSol Off-Grid Solar Power System, a Swiss technology that aims to ‘electrify the country without stresses. TellCo Europe Nigeria is a renewable and clean energy Solutions Company incorporated in Nigeria under the Companies and Allied Matters ACT. The company was established as a vehicle to providing Off-Grid Solar Power Business Solutions to MSMEs in Nigeria, Solar Homes Systems to households, and Solar Electricity Generation for a greener and sustainable urban future in Nigeria and Africa.
The statement also added that TellCo Europe Switzerland was already arranging funding support for 1,000,000 Units of Off-Grid Solar Business Solution for Barbers in Nigeria.
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The report provides deep insights on demand forecasts, market trends and micro and macro indicators. In addition, this report provides insights on the factors that are driving and restraining the global off grid power system market. Moreover, IGR-Growth Matrix analysis given in the report brings an insight on the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter’s five forces analysis and DRO analysis of off grid power system market. Moreover, the study highlights current market trends and provides forecast from 2018-2024. We also have highlighted future trends in the off grid power system market that will impact the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight on the market share of the leading players. This report will help manufacturers, suppliers and distributors of the off grid power system market to understand the present and future trends in this market and formulate their strategies accordingly.