The Remote Power System market industry is projected to grow USD 1.60 Bilion by 2032, exhibiting a compound annual growth rate (CAGR) of 5% during the forecast period (2023 - 2032). The growing need for off-grid power solutions and the demand for reliability and resilience are the key market drivers enhancing market growth.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
In January 2023, the company AVEVA, engaged in the development of industrial software solutions, was purchased by Schneider Electric. With the merger, both companies will be in a position to assist clients in meeting their efficiency and sustainability challenges, that is, to reduce energy, carbon and resource intensity.
Hybrid power systems provide a more consistent and reliable power supply when compared to relying only on one energy source. A combination of conventional and renewable sources is used to create a steady power supply to counteract the intermittent nature of renewable energy. By utilizing the benefits of many sources, hybrid system integration enables optimal energy management. Energy storage technologies are essential to store extra energy produced during peak hours and use it when renewable energy output is low. By lowering reliance on fossil fuels, hybrid systems allow for cost optimization. Reliance on conventional generators diminishes during periods of ample renewable energy output, which lowers fuel costs and system operating expenses over time.
The capacity of energy storage has significantly increased as a result of ongoing research and development. As a result, remote power systems may store more energy at times of high production, guaranteeing a steady supply of electricity during times of low or no generation. More energy can be stored in lighter, more compact systems due to improvements in energy storage technology, which have also improved energy density. This is very helpful in remote locations where space and transit logistics are frequently difficult. Scientific progress has made it possible to create batteries that have longer lives. This decreases the need for frequent battery replacements, which lowers operating costs and enhances the system's overall sustainability. It is significant for remote power systems.
The solar energy segment accounts for the majority of demand in the residential sector for renewable power sources, which drives demand for residential battery energy storage systems. For example, France Territoire Solaire reports that in Q2 2022, the country's total residential photovoltaic solar energy capacity accounted for 1,758 MW, a 13.8% growth from Q2 2021.
IoT devices make real-time monitoring of different remote power system components possible. Monitoring energy generation, consumption, and equipment health is part of this. The actionable information that smart analytics offer makes proactive maintenance and enhanced system performance possible. Predictive maintenance is made possible by Internet of Things sensors and smart grid technologies, which continuously track the state of equipment. Reactive maintenance and downtime can be minimized, and prospective problems can be detected before they lead to system failures due to predictive analytics. Thus driving the remote power system market revenue.
Based on type, the Remote Power System Market segmentation includes fixed and portable. The fixed segment dominated the market. The infrastructure used by telecommunications, such as communication networks, base stations, and cell towers, is largely powered by remote power systems. They facilitate the spread of communications services by guaranteeing continuous connectivity in isolated and off-grid regions.
The portable segment is expected to be the fastest-growing remote power system market segment during the forecast period. Systems for portable remote power are essential for disaster relief and emergency circumstances. During calamities or natural disasters, they can temporarily power vital infrastructure, medical facilities, communication devices, and makeshift shelters.
Figure 1: Remote Power System Market, by Type, 2022 & 2032 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
The Remote Power System Market segmentation, based on application, includes industrial, business, and other. The industrial category has the largest market share. Remote power systems are utilized in the oil and gas industry to provide electricity to remote areas for exploration and extraction. These systems facilitate drilling operations and power equipment and provide communication in places with inadequate grid connectivity.
Throughout the forecast period, the remote power system market’s business segment is anticipated to grow quickly. Remote power systems are used by small businesses and agricultural endeavors situated in rural or off-grid areas to meet their energy needs. These systems supply a dependable power source, which boosts economic activity.
By region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. The North American remote power system market area will dominate this market, owing to huge off-grid and remote regions, including industrial parks, rural villages, and places where natural resources, which can be found throughout North America, are extracted. Significant demand for remote power systems is created by the necessity to electrify these areas and the difficulties in extending regular grid infrastructure.
Further, the major countries studied in the market report are The US, Canada, Germany, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 2: Remote Power System Market Share By Region 2022 (Usd Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Europe's Remote Power System market accounts for the second-largest market share because Europe is committed to raising the proportion of renewable energy in its energy mix, and many of its nations have set high goals for this energy source. Requirements for sustainable and off-grid power solutions are being met by remote power systems, which frequently incorporate renewable energy sources like solar and wind. Further, the Germany Remote Power System market held the largest market share, and the UK Remote Power System market was the fastest-growing market in the European region.
The Asia-Pacific Remote Power System Market is expected to grow at the fastest CAGR from 2023 to 2032. This is because infrastructure development, especially in distant locations, is propelled by the rapid economic expansion occurring in many Asia Pacific countries. Remote power systems are crucial to meet the energy demands of these regions' developing enterprises, towns, and industries. Moreover, China’s Remote Power System market held the largest market share, and the Indian Remote Power System market was the fastest-growing market in the Asia-Pacific region.
Major companies are investing extensively in R&D to improve their product offerings, which is driving the growth of the remote power system market. Additionally, in an attempt to increase their global presence, market players are engaging in various strategic projects. New product launches, contracts, mergers and acquisitions, increased investment, and joint ventures with other businesses have all contributed to the industry's notable growth. In a market that is growing more competitive and increasing, the remote power system industry needs to provide fairly priced products to grow and thrive.
Manufacturers in the global remote power system industry use local manufacturing as a primary strategy to reduce operating costs, serve customers, and grow their market share. Some of the biggest medical advancements in recent years have been made possible by the remote power system industry. Major players in the remote power system market, including Leading Edge, B&PLUS JAPAN, Siemens, Bentek Systems, Corning, Remote Power, WA Solar Supplies, Tycon Systems, Solar Electric Supply, Solar Illuminations, Unbound Solar, Remote Power Solutions (RPS), GWDR Power Technology, ISP Supplies, Solar Power Australia, Ampcontrol, Makinex, Qnergy (q-ner-gy), GRIDSERVE, CPS National, Marlec Engineering, Orga, OutBack Power, Shenzhen Changdian Technology, Alternate Energy, Anern, SunWize., and others, are attempting to increase market demand by investing in research and development operations.
A technology company is Siemens AG. It works in the domains of automation, digitization, and electrification. In addition to designing, developing, and producing goods, the organization installs sophisticated systems and projects. In addition, the company offers a large selection of specially designed solutions to meet specific needs. Siemens ' main areas of interest are intelligent building infrastructure, distributed energy systems, and power generation and distribution. It offers medical technology, digital healthcare services, and intelligent mobility solutions for road and rail transportation. Siemens is a global company with production factories, warehouses, sales offices, and research and development centers. Customers across various industries, including manufacturing, energy, infrastructure, healthcare, and process, are served by it. Siemens Gamesa Renewable Energy announced in April 2022 that it had installed its 100th wind turbine in Australia. This accomplishment demonstrated Siemens' commitment to delivering clean power to rural areas and substantially contributed to the nation's renewable energy goals.
Leading Edge, a technology and management consulting services company, aims to empower developing startups and multinational enterprises by offering digital transformation solutions and systems integration. Delivering enterprise solutions with an emphasis on ERP, big data, Analytics, B2B/B2C E-Commerce solutions, and staff augmentation services is their area of expertise. Their professionals offer excellent solutions in their respective fields based on their client's needs and business requirements. Their commitment to quality and openness drives their team to meet their clients' expectations. Their organization delivers end-to-end solutions with a collaborative, holistic, and supporting approach to their customers. Their clients benefit from their best-in-class, service-oriented consultants' in-depth knowledge, practical abilities, and expertise.
October 2022:Tata Power Solar Systems announced the launch of affordable solar off-grid solutions in West Bengal, Bihar, and Jharkhand. With a 5-year warranty, the off-grid solutions come in 11 variations ranging from 1 to 10 KW and combine highly efficient solar modules, inverters, and batteries.
September 2022:The Uttar Pradesh New and Renewable Energy Development Agency awarded the clean energy solutions supplier Servotech Power Systems a 1.8 MW off-grid solar project (UPNEDA). Servotech will handle important tasks like impaneling and negotiating contracts for off-grid solar plant design, manufacturing, supply, construction, testing, and commissioning in Uttar Pradesh as part of the project.
In January 2023, Eaton introduced the EPM 8000 Remote Power Panel on the market. This has made it possible to simplify the installation as well as the maintenance of the power panel and so increasing power reliability and efficiency. The system incorporates additional metering features that assist in the management of energy consumption and power distribution systems.
The EPM 8000 portal offers features that improve overall energy performance without hampering the critical power systems in place, making it ideal for usage in data centers, factories, and large commercial areas. The panel is also capable of offering remote monitoring functions so as to enhance the management of the electrical system and reduce accidents by performing upkeep before faults arise. Its features, including modularity and simplicity of use, have a great impact in creating a power optimization tool for such complicated settings as industries.
| Report Attribute/Metric | Details |
| Market Size 2022 | USD 1.02 Billion |
| Market Size 2032 | USD 1.60 Bilion |
| Compound Annual Growth Rate (CAGR) | 5% (2023-2032) |
| Base Year | 2022 |
| Market Forecast Period | 2023-2032 |
| Historical Data | 2018- 2022 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Type, Application, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and the Rest of the World |
| Countries Covered | The US, Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | Â Leading Edge, B&PLUS JAPAN, Siemens, Bentek Systems, Corning, Remote Power, WA Solar Supplies, Tycon Systems, Solar Electric Supply, Solar Illuminations, Unbound Solar, Remote Power Solutions (RPS), GWDR Power Technology, ISP Supplies, Solar Power Australia, Ampcontrol, Makinex, Qnergy (q-ner-gy), GRIDSERVE, CPS National, Marlec Engineering, Orga, OutBack Power, Shenzhen Changdian Technology, Alternate Energy, Anern, SunWize., and others |
| Key Market Opportunities | Microgrid development in remote locations and humanitarian and disaster response applications |
| Key Market Dynamics | Growing need for off-grid power solutions and a demand for reliability and resilience |
Frequently Asked Questions (FAQ) :
The Remote Power System Market size was valued at USD 1.02 Billion in 2022.
The global market is projected to grow at a CAGR of 5% during the forecast period, 2023-2032.
North America had the largest share of the global market
The key players in the market are Leading Edge, B&PLUS JAPAN, Siemens, Bentek Systems, Corning, Remote Power, WA Solar Supplies, Tycon Systems, Solar Electric Supply, Solar Illuminations, Unbound Solar, Remote Power Solutions (RPS), GWDR Power Technology, ISP Supplies, Solar Power Australia, Ampcontrol, Makinex, Qnergy (q-ner-gy), GRIDSERVE, CPS National, Marlec Engineering, Orga, OutBack Power, Shenzhen Changdian Technology, Alternate Energy, Anern, SunWize., and others.
The fixed category dominated the market in 2022.
The industrial had the largest share of the global market.
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Team Lead - Research Anshula mandaokar holds an academic degree in chemical engineering and has been contributing to the field for more than 5 years. she has expertise in market research and business consulting and serves as a team lead for a reputed market research firm under the chemicals and materials domain spectrum. she has worked on multiple projects, generating explicit results in a quick turnaround time. her understanding of data interpretation justifies her role as a leader.
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