Published on : Mar 19, 2021
Albany, New York, March 19, 2021: A recent market research report added in the vast research report repository of ResearchMoz that talks about the global remote microgrid market and its overall working dynamics. This report of the remote microgrid market offers comprehensive analysis, market shares, key trends, opportunities, and driving and restraining factors that are influencing the growth of the market. Along with in-detail market segmentation, the research report offers key insights and information that are imperative for devising decisive marketing strategies.
Increasing Instances of Cyberattacks on Energy Infrastructures to Drive Market Growth
There are several factors that are helping to drive the overall development of the global remote microgrid market. One of the key driving factors for the market growth has been increasing demand for clean energy across the globe. Due to the rising concerns about the deterioration of the environment, the cry for cleaner and improved sources of energy has been on the rise and that has worked in favor of the development of the global remote microgrid market. Another important factor for the market development has been the increasing instances of cyberattacks on power grids and energy infrastructures.
Having a remote microgrid prevents such instances and thus has improved rate of adoption. In addition to this, in recent years there has bene a growing requirement for secure and reliable supple of power across the globe and also increasing global deployment of microgrids for electrification of rural areas are some of the other key factors that are helping to drive the overall development of remote microgrid markets.
Based on the type of remote microgrid, the global market can be segmented into grid tied type remote microgrid and independent microgrid. Of these, the segment of grid tied remote microgrid has been the most dominant one in recent years. The growth of the segment is mainly attributed to the rapid expansion of utility based grid networks. Moreover, with the increasing large scale usage of non-conventional and renewable sources of energy such as offshore wind has also helped in improving the rate of adoption of grid connected remote microgrids.
These type of microgrids show superior quality of power and have higher grid resiliency. This too has worked in favor of their growing adoption. Furthermore, usage of these remote microgrids have low impact on the overall environment and fueling its demand as a clean source of energy.
Remote Microgrid Segment to Witness Huge Growth Opportunities
Based on application segment, the global market for remote microgrids is segmented into commercial/industrial microgrid, remote microgrid, military microgrid, community/utility microgrid and campus/institutional microgrid. Among these, the segment of remote microgrid segment has been witnessing a highly promising rate of growth. The growth of the segment is mainly attributed to their improved levels of adoption in remote and rural areas.
As per the findings of International Energy Association, nearly 1 billion people living in remote and rural areas across the globe lack access to electricity because of the growing costs of conventional fossil fuels that are used for the generation of electric energy. In addition to this, uncertainty over the availability of fuel and their transportation has also resulted in lack of services in these areas. This presents the segment with huge growth opportunities as it is able to serve more people remotely.
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In terms of geographical segmentation, the global remote microgrids market can be segmented into five key regions namely Asia Pacific, North America, Europe, Latin America, and the Middle East and Africa. Of these, the regional segment of North America has been the traditionally dominant segment. Availability of latest technologies and increasing levels of adoption are some of the key driving factors for the overall development of the North America market.