The off-grid remote sensing power system market is expected to register a~7% CAGR during the forecast period, 2021–2027.
In recent times, to promote the low-cost electricity model, it is essential to estimate the electricity demand using remote sensing data. This data is collected by different off-grid remote sensing components such as batteries and fuel cells, which are the primary sources of off-grid systems. The remote sensing data can be collected remotely through these components without being present at the physical location. Additionally, various monitoring systems such as supervisory control and data acquisition systems and light detection and ranging systems use remote sensing power systems. End-users such as the wind energy and oil & gas industries are looking for off-grid power systems for remote sensing. The growing infrastructure of the oil and gas and wind energy industries is driving up demand for off-grid power systems in the remote sensing sector.
The off-grid remote sensing power system market is projected to reach a valuation of USD 2,101.9 million by 2027, with ~7% CAGR during the forecast period.
In 2020, the fuel cell segment held the largest market share
Based on technology type, the global off-grid remote sensing power system market has been divided into battery backup and fuel cells. The fuel cell segment is expected to hold the larger share in the global market during the forecast period. Fuel cells have become a major source of power for telecoms towers in areas with uncertain grid reliability and are also beginning to be used in consumer electronics. Moreover, fuel cells are also increasingly being used in the wind and oil & gas end-use industries for providing power whenever required. These cells are used as per the voltage requirement of the application in which they are used.
Based on region, the off-grid remote sensing power system market has been segmented into Asia-Pacific, North America, Europe, the Middle East & Africa, and South America. North America holds the largest share in the off-grid remote sensing power system market.The increasing off-grid oil & gas production in the region is expected to be the key factor contributing to the strong growth rate of the North American off-grid remote sensing power systems market. For instance, the US power system has more than 50 GW of behind-the-meter flexible resources at its disposal, consisting of distributed energy resources (DERs) already enrolled in demand response programs. This is anticipated to boost the demand for off-grid remote sensing power systems in the region as the grid complexity will lead to the increased installation of off-grid power remote sensing power systems. Moreover, various major players are focusing on innovation and introducing new products to enhance their portfolio related to off-grid remote sensing power systems
The key players operating in the global off-grid remote sensing power system market are Acumentrics (US), Energy Solutions (UK) Ltd (UK), Ensol System (Canada), HES Infra Pvt Ltd (India), SFC Energy AG (Germany), Solar Energy Company (India), Timber Line Electric and Control Corp. (US), Tycon Systems Inc. (US), UPS Systems Plc. (UK), and Victron Energy B.V. (Netherlands).
This research report provides insights into various levels of analysis, such as industry analysis and market share analysis for the leading industry competitors, along with their profiles. It also helps in studying the target segments by providing views on the emerging and high-growth segments. The market data comprises the basic assessment of the competitive scenarios and strategies in the global off-grid remote sensing power system market, including high-growth regions and/or countries and political and economic environments. The project report further provides both – historical market values and pricing and cost analysis.
Global Off-Grid Solar Market Research Report—Forecast till 2026