APAC Microgrid Market - Analysis & Forecast (2017-2026) Focus on Technology Type: Energy Generation (Solar PV, Wind Turbine, Diesel Gensets) & Energy Storage (Lithium Ion Batteries, Lead Acid Batteries), Application: Residential & Commercial
Asia Pacific is experiencing high rate of rural electrification in several economies such as India, Malaysia, and Philippines, among others. Several factors such as demographics of the countries, high number of islands in Indonesia and Philippines, and lack of proper infrastructure in the emerging economies contribute to the high rates of unelectrified areas in Asia Pacific. Electricity is an important contributor to the GDP of any country, and with the emerging economies growing rapidly, they need to invest in solutions which can help them achieve 100% electrification rates. Owing to this, most of the Asian countries have laid down regulations to achieve 100% electrification rates in their respective countries Moreover, in developed economies such as China, Japan, and Singapore, the focus is on ensuring energy security.
To ensure energy security, countries have developed national smart grid plans, and have promoted the use of renewable energy generation sources in their energy mix. This has compelled the several countries to look for viable options which can ensure energy security, reduce greenhouse gas emissions, and provide electricity. This has led to increased investments by utility providers, manufacturers providing solutions to the utility industry, and several other companies promoting the employment of microgrids across APAC.
The report titled “APAC Microgrid Market” provides an in-depth analysis of the key development strategies and market trend dynamics which includes drivers, challenges, and opportunities prevailing in the industry. Moreover, value chain analysis, consortiums, and patents have also been included in the report. The key development strategies adopted by microgrid solution providers have also been included in the report. The key regulations with respect to the utility industry, rural electrification policies, and renewable energy policies have also been considered in the report because of the compliance requirements which are expected to promote the use of microgrids in APAC.
The adoption and implementation of microgrids in the APAC region is at a nascent stage. The companies have been investing extensively in the microgrids development and demonstration projects. However, it has been witnessed that the demonstration projects do not have a business model. Therefore, the market estimation has been built on detailed assumptions and limitations. The market has been estimated on the basis of different types of energy generation and energy storage solutions used in microgrids, their use across different applications, and geographical analysis.
The report profiles 13 organizations across Asia Pacific on the basis of manufacturers, and solution providers working across the microgrid industry, and providing their products in APAC.
Key questions answered in the report:
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