Remote Microgrids

Remote Microgrids

Global Remote Microgrids Market to Reach $14.3 Billion by 2027

In the changed post COVID-19 business landscape, the global market for Remote Microgrids estimated at US$5.8 Billion in the year 2020, is projected to reach a revised size of US$14.3 Billion by 2027, growing at a CAGR of 13.8% over the analysis period 2020-2027. Village Electrification, one of the segments analyzed in the report, is projected to record a 13.6% CAGR and reach US$8 Billion by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the Grid Island Systems segment is readjusted to a revised 14.6% CAGR for the next 7-year period.

The U.S. Market is Estimated at $1.7 Billion, While China is Forecast to Grow at 13% CAGR

The Remote Microgrids market in the U.S. is estimated at US$1.7 Billion in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$2.5 Billion by the year 2027 trailing a CAGR of 13% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 12.4% and 11.8% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 9.9% CAGR.

Industrial Remote Mine Systems Segment to Record 12.7% CAGR

In the global Industrial Remote Mine Systems segment, USA, Canada, Japan, China and Europe will drive the 12.7% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$538.6 Million in the year 2020 will reach a projected size of US$1.2 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets.

Select Competitors (Total 48 Featured) -

• General MicroGrids
• S&C Electric Company
• Siemens AG
• Toshiba Corporation

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