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Off-grid Solar Power Systems Market To Register A CAGR Of 14.45% Globally During The Forecast Period 2018-2022 | Million Insights


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According to new report available with Million Insights, Off-grid solar power systems are isolated systems that support commercial, households, and industrial buildings, telecom, and mining sites to generate their own power and are not associated with the grid. The market is anticipated to grow at a higher CAGR of 14.45% in the upcoming period as the scope, product types, and its applications are increasing across the globe.

Global Off-grid Solar Power Systems Market is anticipated to grow at a substantial rate in the forecast period. Off-grid solar power systems are isolated systems that support commercial, households, and industrial buildings, telecom, and mining sites to generate their own power and are not associated with the grid. Off-grid solar power systems comprise smaller solar products (solar lanterns, and pico solar PV systems), solar home systems, and mini-grids.

The factors that propel the growth of the Off-grid Solar Power Systems Market include improved utilization of energy, population explosion, and depletion of natural resources. On the other hand, there are factors that may hamper the growth of the market including high initial PV system cost, and high installation cost compared to the other power generating sources. The market is anticipated to grow at a higher CAGR of 14.45% in the upcoming period as the scope, product types, and its applications are increasing across the globe.

Full Research Report On Global Off-grid Solar Power Systems Market Analysis available at: https://www.millioninsights.com/industry-reports/off-grid-solar-power-systems-market

The market may be explored by system type, application, resource type, and geography. Market may be explored by system type as Wind-PV-diesel-battery hybrid system, Wind-diesel hybrid system, PV-diesel hybrid system, PV-diesel-battery hybrid system, and Wind-diesel-battery hybrid system.

The key applications that could be explored in the Off-grid Solar Power Systems Market include Stand-alone (AC – AC solar home systems, single facility AC systems, and DC- DC solar lighting Kits, DC Solar Home Systems), and Grids (AC- Full-grid, AC/DC- Nano-grid, mini-grid, micro-grid, Pico-grid). The Off-grid Solar Power Systems Market could be explored based on resource type as Hydro, Biogas/bio diesel to power, Biomass cogeneration, Gas, Diesel, Wind, and Solar PV.

Asia-Pacific accounted for the major share of the Off-grid Solar Power Systems Market Size in 2016 and will continue to lead in the forecast period. The factors that could be attributed to the growth include enormous demand for micro-grid hybrid power system. On the other hand, in Africa, and Middle East the off-grid hybrid power system market is driven particularly due to massive growth in the economy.

Request for Free Sample Copy at:https://www.millioninsights.com/industry-reports/off-grid-solar-power-systems-market/request-sample

Some of the key players that fuel the growth of this market comprise Outback Power, Electric, Siemens, Solgen, Schneider electric, SMA, Electro Power system, Heliocentris, Elgris Power, and Danvest. The leading companies are taking up partnerships, mergers and acquisitions, and joint ventures in order to boost the inorganic growth of the industry.

Market Segment:

The market is divided into the following segments based on geography:

• Americas

• APAC

• EMEA

Related Reports of this Category available at Million Insights: https://www.millioninsights.com/industry/energy

Global Off-grid Solar Power Systems Market 2018-2022, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

Key vendors

• Greenlight Planet

• M-KOPA Kenya

• Schneider Electric

• SMA Solar Technology

• Su-Kam Power Systems

About Million Insights
Million Insights, is a distributor of market research reports, published by premium publishers only. We have a comprehensive market place that will enable you to compare data points, before you make a purchase. Enabling informed buying is our motto and we strive hard to ensure that our clients get to browse through multiple samples, prior to an investment. Service flexibility & the fastest response time are two pillars, on which our business model is founded. Our market research report store, includes in-depth reports, from across various industry verticals, such as healthcare, technology, chemicals, food & beverages, consumer goods, material science & automotive.

For More Information: www.millioninsights.com

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