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Remote Microgrid Market Trends

Report ID: GMI10992
Published Date: Aug 2024
Report Format: PDF

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Remote Microgrid Market Trends

Increasing need for energy independence in off-grid regions, such as islands, rural communities, and remote industrial sites is set to propel the product penetration. Growing push towards decarbonization to support climate goals and align with the increasing environmental consciousness consumers and stakeholders who demand green energy solutions are some of the additional factors augmenting the business statistics.

Authors: Ankit Gupta, Pooja Shukla

Frequently Asked Questions (FAQ) :

The market size of remote microgrid was worth over USD 7.2 billion in 2023 and is anticipated to grow at a CAGR of 19.8% from 2024 to 2032, due to a consistent rise in energy demand from remote and rural communities.

The AC segment is anticipated to cross USD 20.2 billion by 2032, owing to the rising demand for grid solutions with potential for distributing power over long distances.

Asia Pacific remote microgrid market is anticipated to exceed USD 19.4 billion by 2032, due to the rising demand for reliable electricity from remote and rural communities from many parts of Asia, especially in countries such as India, Indonesia, and the Philippines.

ABB, Caterpillar Inc., FlexGen Power Systems, General Electric, HOMER Energy, Piller Power Systems, PG&E, Saft, Schneider Electric SE, Stellar Energy, Siemens AG, Victron Energy B.V., and Yanmar Holdings Co., Ltd.