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In the United States, the people in charge of making electricity are making big plans to use more of these clean ways. This will not only make our air cleaner but also help build better systems for managing electricity, like super-smart control systems and tiny power networks called microgrids. It's like giving our electricity a makeover to be kinder to our planet.
Picture a world where more and more people are using electricity, and we're all growing and building things really fast. But, uh-oh, the usual ways we get electricity—like using coal, petrol, and natural gas—are making our planet sick with too much pollution. People who make electricity are thinking hard about how to fix this problem. They're turning to cleaner ways to make power, like using the sun, wind, water, and plants. These clean ways are called renewable energy, and they're like the superheroes of electricity!
Now, let's dive into the world of batteries. You know, those little things that keep our gadgets running? Well, in the world of making electricity, batteries are like the unsung heroes. They store the power we get from the sun and wind so that we can use it even when the sun isn't shining or the wind isn't blowing. But here's the tricky part—batteries need to be watched over to make sure they're doing their job well. That's where battery monitoring systems come in.
Imagine these systems as the guardians of the batteries. They keep an eye on how much charge the batteries have, if they're healthy, and if they're working properly. This is super important for companies that provide electricity and for those who have electric cars. These monitoring systems use sensors to measure how much power is in the batteries and clever software to make sure everything is A-okay. They not only make sure the batteries are safe but also help make sure we always have enough clean energy when we need it.
The cool thing is, as we use more and more renewable energy, we'll need even more of these guardians for our batteries. Especially because the sun and wind aren't always predictable, and we need a way to store their energy. It's like preparing for a bright, clean future where we all work together to take care of our planet. Go, clean energy superheroes!
Covered Aspects:
| Report Attribute/Metric | Details |
|---|---|
| Segment Outlook | Technology Type, End Use |
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.
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