Certified Global Research Member
Key Questions Answered
- Global Market Outlook
- In-depth analysis of global and regional trends
- Analyze and identify the major players in the market, their market share, key developments, etc.
- To understand the capability of the major players based on products offered, financials, and strategies.
- Identify disrupting products, companies, and trends.
- To identify opportunities in the market.
- Analyze the key challenges in the market.
- Analyze the regional penetration of players, products, and services in the market.
- Comparison of major players’ financial performance.
- Evaluate strategies adopted by major players.
- Recommendations
Why Choose Market Research Future?
- Vigorous research methodologies for specific market.
- Knowledge partners across the globe
- Large network of partner consultants.
- Ever-increasing/ Escalating data base with quarterly monitoring of various markets
- Trusted by fortune 500 companies/startups/ universities/organizations
- Large database of 5000+ markets reports.
- Effective and prompt pre- and post-sales support.
Imagine a world where we're running out of energy, burning up all our fossil fuels, and filling the air with yucky car fumes. It's not a happy picture, right? Well, that's why smart people came up with electric vehicles (EVs). They're like superheroes of the road because they don't need gas and don't make our air all dirty. People all around the world think these EVs are the future of how we get around!
Now, let's talk about why these cool electric cars exist. First off, we're in a bit of trouble because we're using too much energy and making our planet sick. Also, gas for regular cars costs a lot of money, and that's a problem too. So, here comes the EV to the rescue! These cars don't pollute the air, and they run on special batteries. These batteries are amazing because they don't make much pollution, they can store a lot of energy, and they last a really long time. That's a win-win!
Guess what? Big bosses of countries all over the world are helping out. They want to use more clean energy and not rely on the dirty stuff. For example, in the United States, the government is teaming up with super-smart scientists to make these special batteries cheaper. They have a goal to make the cost of these batteries go down to $80 per kilowatt-hour. It's like making the superhero cars more affordable for everyone!
Now, let's switch gears and talk about something else that's super important—data centers. These are like the big brains of companies, helping them do all their important work. Picture servers, networking stuff, and storage working together like a dream team. But, here's the catch—they need special batteries to keep the show running, especially if there's a power outage. Imagine if your computer suddenly turned off while you were in the middle of an exciting game or finishing up an important project—that wouldn't be fun, right?
So, here's where it gets interesting. People are getting smarter about making sure these special batteries in data centers are watched over really well. If the batteries stop working, it could cause a big mess and cost a ton of money. Big companies like Google and Alibaba are spending lots of money to make these batteries and the systems that watch over them even better. They want to make sure everything stays safe and works perfectly. All these changes and improvements are making the battery monitoring systems for data centers better all around the world.
Covered Aspects:
| Report Attribute/Metric | Details |
|---|---|
| Market Opportunities | North America holds the largest share in the off-grid remote sensing power system market. |
Off-Grid Remote Sensing Power System Market Highlights:
Off-Grid Remote Sensing Power System Market Overview
Off-Grid Remote Sensing Power System Market Size was valued at USD 2090.77 Million in 2023. The Off-Grid Remote Sensing Power System Market industry is projected to grow from USD 2250.72 Million in 2024 to USD 4196.8 Million by 2032, exhibiting a compound annual growth rate (CAGR) of 7.17% during the forecast period (2024 - 2032).
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
A remote sensing power system for off-grid applications is an important component of the overall off-grid power distribution network. The increased demand for energy efficiency and the changing energy landscape are two main reasons driving the global off-grid remote sensing power system market.
The networks that were constructed a few decades ago are still in use and need to be transformed to meet the growing demand for reliable electricity. As a result, utilities are working on increasing the efficiency of power grids by incorporating renewable energy and utilizing modern information and communication technologies, such as off-grid remote sensing power systems.
The increased demand for energy efficiency and the changing energy landscape are two main reasons driving the global off-grid remote sensing power system market. The networks that were constructed a few decades ago are still in use and need to be transformed to meet the growing demand for reliable electricity. As a result, utilities are working on increasing the efficiency of power grids by incorporating renewable energy and utilizing modern information and communication technologies, such as off-grid remote sensing power systems.
An off-grid remote sensing power system is an integral part of the entire off-grid power distribution network. However, the demand for off-grid remote sensing power systems has been impacted drastically due to COVID-19 impact, thereby negatively impacting the off-grid network, resulting in more complexities. Moreover, the end-users of remote sensing power systems such as the oil & gas and wind industry experienced a sudden decline in demand due to lockdown situations worldwide.
For instance, the impact of COVID-19 and the oil prices war proved to be a two-pronged crisis for oil & gas companies. Oil prices dropped due to failed agreements on production cuts and travel restrictions due tothe global pandemic. Additionally, the wind energy industry also experienced an initial slowdown in terms of projects delay, but the first lockdown was the strictest and occurred during the spring. Hence, the demand for remote sensing systems kept on fluctuating during the outbreak of COVID-19.
The major factors driving the growth of the global off-grid remote sensing power system marketincludethe growing demand for energy efficiency and the changing energy landscape. The grids installed a few decades ago operate in a conventional manner and need a transformation in response to the increasing demand for reliable electricity. Therefore, utilities are focusing on makingpower grids more efficient by integrating renewable energy and taking advantage of advanced information and communication technologies, including off-grid remote sensing power systems.
The key factor driving the demand foroff-grid remote sensing power systemsisthe increasing share of wind energy sources in the global energy mix. COVID-19 has had a deep impact on global energy demand, and most sources in the global energy mix have witnessed a decline in demand. However, during this period, renewable electricity has registered a growth in demand in the share of electricity supply to off-grid applications. As perstatistical data from the International Energy Agency (IEA), the demand for renewable electricity grew by 1.56% from Q1 2019 to Q1 2020.
The growth was witnessed due to numerous wind projects being commissioned in 2019. These energy sources are dispatched to consumers in preference to other energy sources, as they are cleaner and cheaper than other sources. In the renewable energy mix, wind grew at the fastest rate in 2019 and is expected to maintain a high growth rate during the forecast period.
Furthermore, according to statistical data from the IEA, distributed wind power accounted for ~12% of the renewable capacity installed in 2019, with the majority of the end users being individuals and small & medium enterprises. The installation of wind turbines is likely to grow significantly during the forecast period, primarily due to the growing demand for clean energy.
Thus, the increasing share of wind energy sources in the global energy mix is expected to drive the growth of the global off-grid remote sensing power system market during the forecast period. This sensing power system helps analyze the data and optimize electricity usage.
Many major players such asAcumentrics, Ensol Systems, and SFC Energyare actively focusing on providing a broad product portfolio and entering profitable contracts related to off-grid remote sensing power systems. For instance, in 2016, Atrex Energy, a major player in clean and reliable fuel cell solutions, appointed Ensol Systems as a new distributor partner in Canada.
Similarly, SFC Energy manufactures and distributes portable DMFC systems for the industrial and military markets. The company is one of the most successful consumer fuel cell companies that have sold over 23,000 fuel cellstill 2016. Such developments are expected to drive the growth of the global off-grid remote sensing power systemmarket during the forecast period.
Off-Grid Remote Sensing Power System Market Segmentation Outlook
The global off-grid remote sensing power system market has been segmented based on technology type andend use. Based on technology type, the off-grid remote sensing power system market is divided into battery backup and fuel cells. The fuel cellsegment is expected to hold the larger share in the global Off-Grid Remote Sensing Power System Market during the forecast period.
Fuel cells have becomea major source of power fortelecoms towers in areas with uncertaingrid reliability and are also beginning to be used in consumer electronics. Moreover, fuel cellsare also increasingly 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. For instance, higher system voltage means more 2V cells in series, so fewer parallel strings will be needed to gain the same amount of energy storage.
Based on end use, the off-grid remote sensing power system market is divided into oil & gas, wind, and weather monitoring stations. The oil & gas segment accounts for the largest share within the global market.These off-grid remote sensing power systems are deployed when the grid lines are unavailable.
So, in order to reduce the load on the primary network and unreliable power, these power systems are deployed in the oil & gas sector. Off-grid power systems are increasingly used in various end-use applications by installing various monitoring systems, including supervisory control and data acquisition (SCADA) systems, light detection and ranging (LiDAR) systems, and other remote monitoring devices.
The global off-grid remote sensing power system market is expected to register high growth during the forecast perioddue to theincrease in power protection generated through fuel cells and backup batteries.This is expected to drive the demand for off-grid remote sensing power systems during the forecast period.
Based on region, the off-grid remote sensing power system market is 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 due to increasing off-grid oil & gas production in the region.The North American off-grid remote sensing power system market is expected to register a strong growth rate.
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. All these factors are likely to drive 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 in introducing new products which would enhance their portfolio related to off-grid remote sensing power systems.
Off-Grid Remote Sensing Power System Market Key Players Insight
The key players operating in the globaloff-grid remote sensing power systemmarket are Acumentrics (US), Energy Solutions 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)
Industry News
- Under India's Pradhan Mantri Sahaj Bijlee Har Ghar Yojana (SAUBHAGYA) program, The Assam Power Distribution Company Limited requested bids for off-grid rural electrification with 71,199 standalone solar systems on a turnkey basis in September 2021.
- After CrossBoundary Energy agreed to finance a 1.2 MW solar system backed by up to 2 MWh of energy storage, the broadband network in Freetown, Sierra Leone's capital, is poised to become the first green network in the sub-region as of September 2021.
- Ensol Systems was appointed as a new distributor partner in Canada by Atrex Energy, a major player in clean and reliable fuel cell solutions for Off-Grid Remote Sensing Power System Market.
Intended Audience
- Government and Research Organization
- Consulting Companies in the Power Industry
- Research Consultants
- Investors and Shareholders
Leading companies partner with us for data-driven Insights
Kindly complete the form below to receive a free sample of this Report
Tailored for You
- Dedicated Research on any specifics segment or region.
- Focused Research on specific players in the market.
- Custom Report based only on your requirements.
- Flexibility to add or subtract any chapter in the study.
- Historic data from 2014 and forecasts outlook till 2040.
- Flexibility of providing data/insights in formats (PDF, PPT, Excel).
- Provide cross segmentation in applicable scenario/markets.
