$7 Billion Worldwide Remote Microgrid Industry to 2027 – Impact of COVID-19 on the Market – ResearchAndMarkets.com
DUBLIN–(BUSINESS WIRE)–The "Remote Microgrid – Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
The publisher brings years of research experience to the 6th edition of this report. The 138-page report presents concise insights into how the pandemic has impacted production and the buy side for 2020 and 2021. A short-term phased recovery by key geography is also addressed.
Global Remote Microgrid Market to Reach US$18.2 Billion by the Year 2027
Amid the COVID-19 crisis, the global market for Remote Microgrid estimated at US$7 Billion in the year 2020, is projected to reach a revised size of US$18.2 Billion by 2027, growing at a CAGR of 14.5% over the analysis period 2020-2027.
Village Electrification, one of the segments analyzed in the report, is projected to grow at a 13.9% CAGR to reach US$10.3 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Grid Island segment is readjusted to a revised 16.6% CAGR for the next 7-year period. This segment currently accounts for a 21.4% share of the global Remote Microgrid market.
The U.S. Accounts for Over 29.5% of Global Market Size in 2020, While China is Forecast to Grow at a 14% CAGR for the Period of 2020-2027
The Remote Microgrid market in the U.S. is estimated at US$2.1 Billion in the year 2020. The country currently accounts for a 29.55% share in the global market. China, the world second largest economy, is forecast to reach an estimated market size of US$3.2 Billion in the year 2027 trailing a CAGR of 14% through 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 12.8% and 12.5% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 10.7% CAGR while Rest of European market (as defined in the study) will reach US$3.2 Billion by the year 2027.
Industrial Remote Mine Systems Segment Corners a 10.3% Share in 2020
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$583.5 Million in the year 2020 will reach a projected size of US$1.4 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$2.2 Billion by the year 2027.
Competitors identified in this market include, among others:
- ABB Group
- GE Digital Energy
- General MicroGrids
- S&C Electric Company
- Siemens AG
- Toshiba Corporation
Key Topics Covered:
I. INTRODUCTION, METHODOLOGY & REPORT SCOPE
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
- Impact of Covid-19 and a Looming Global Recession
- Global Competitor Market Shares
- Remote Microgrid Competitor Market Share Scenario Worldwide (in %): 2018E
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
- Total Companies Profiled: 52
For more information about this report visit https://www.researchandmarkets.com/r/g5x7gm
Laura Wood, Senior Press Manager
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900