Global
Off-grid
Solar Power Systems Market is anticipated to grow at a substantial
rate in the forecast period. Off-grid solar power systems are isolated systems
that support commercial, households, and industrial buildings, telecom, and
mining sites to generate their own power and are not associated with the grid.
Off-grid solar power systems comprise smaller solar products (solar lanterns,
and pico solar PV systems), solar home systems, and mini-grids.
The
factors that propel the growth of the Off-grid Solar Power Systems Market
include improved utilization of energy, population explosion, and depletion of
natural resources. On the other hand, there are factors that may hamper the
growth of the market including high initial PV system cost, and high
installation cost compared to the other power generating sources. The market is
anticipated to grow at a higher CAGR of 14.45% in the upcoming period as the
scope, product types, and its applications are increasing across the globe.
The
market may be explored by system type, application, resource type, and
geography. Market may be explored by system type as Wind-PV-diesel-battery
hybrid system, Wind-diesel hybrid system, PV-diesel hybrid system,
PV-diesel-battery hybrid system, and Wind-diesel-battery hybrid system.
The
key applications that could be explored in the Off-grid Solar Power Systems
Market include Stand-alone (AC – AC solar home systems, single facility AC
systems, and DC- DC solar lighting Kits, DC Solar Home Systems), and Grids (AC-
Full-grid, AC/DC- Nano-grid, mini-grid, micro-grid, Pico-grid). The Off-grid
Solar Power Systems Market could be explored based on resource type as Hydro,
Biogas/bio diesel to power, Biomass cogeneration, Gas, Diesel, Wind, and Solar
PV.
Asia-Pacific
accounted for the major share of the Off-grid Solar Power Systems Market Size
in 2016 and will continue to lead in the forecast period. The factors that
could be attributed to the growth include enormous demand for micro-grid hybrid
power system. On the other hand, in Africa, and Middle East the off-grid hybrid
power system market is driven particularly due to massive growth in the
economy.
Some
of the key players that fuel the growth of this market comprise Outback Power,
Electric, Siemens, Solgen, Schneider electric, SMA, Electro Power system,
Heliocentris, Elgris Power, and Danvest. The leading companies are taking up
partnerships, mergers and acquisitions, and joint ventures in order to boost
the inorganic growth of the industry.
Market Segment:
The market is divided into the following
segments based on geography:
•
Americas
•
APAC
•
EMEA
Global
Off-grid Solar Power Systems Market 2018-2022, has been prepared based on an
in-depth market analysis with inputs from industry experts. The report covers
the market landscape and its growth prospects over the coming years. The report
also includes a discussion of the key vendors operating in this market.
Key vendors
•
Greenlight Planet
•
M-KOPA Kenya
•
Schneider Electric
•
SMA Solar Technology
•
Su-Kam Power Systems
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