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Remote DC Microgrid Market Share

Report ID: GMI11409
Published Date: Sep 2024
Report Format: PDF

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Remote DC Microgrid Company Market Share

Eminent players are forming strategic partnerships with energy service companies, utilities, and renewable energy providers to expand their footprint in the remote microgrid market. Partnerships with renewable energy companies ensure a steady supply of solar PV or wind energy for DC microgrids. Leading players are heavily investing in R&D to improve the efficiency and capabilities of DC microgrids. By developing advanced microgrid controllers, energy management systems, and more efficient battery storage solutions, these companies aim to enhance the overall performance of DC microgrids, especially in remote and off-grid applications.

Remote DC Microgrid Market Companies

Eminent players operating in the remote DC microgrid industry are:

ABB
ARDA Power
AEG International
Nextek Power Systems
Optimal Power Solutions
PG&E
SolarWorX
Schneider Electric
Sumitomo Electric Industries, Ltd
Victron Energy

Authors: Ankit Gupta, Pooja Shukla

Frequently Asked Questions (FAQ) :

As of 2023, the remote DC microgrid industry is valued at USD 2.5 billion. This market is projected to expand significantly, with an anticipated growth rate of 19.6% CAGR by 2032, driven by increasing demand for efficient, scalable, and reliable energy solutions in isolated and remote areas.

The solar PV segment is expected to grow at a CAGR of over 21% by 2032. Solar PV aligns well with DC microgrids due to its inherent DC generation capability, which improves energy efficiency by eliminating the need for AC-DC conversions.

The European market is expected to grow by more than USD 2.2 billion by 2032. This growth is supported by the European Green Deal and other policies promoting energy independence and renewable energy solutions, particularly in remote and underserved areas.

Key players in the market include ABB, ARDA Power, AEG International, Nextek Power Systems, Optimal Power Solutions, PG&E, SolarWorX, Schneider Electric, Sumitomo Electric Industries, Ltd, and Victron Energy.