Off-grid Power Systems for Remote Sensing Market
Off-grid Power Systems for Remote Sensing Market (Technology - Battery Backup, Fuel Cells; End-users - Oil & Gas, Wind) - Global Industry Analysis, Size, Share, Growth Trends, and Forecast 2016 - 2024
Press Release :
Global Off-grid Power Systems for Remote Sensing Market: Snapshot
Off-grid power systems are those systems which are not linked with the main or local power grid. These systems are basically are dependent on a secondary source of power such as fuel cells and batteries. These off-grid systems are often employed in several circumstances such as at places where there are no grid lines, for reducing the load on the main grid, at places where power supply is unreliable, and where complete separate power is a must need. Off-grid power is being incessantly used by several monitoring systems such as LiDAR (Light Detection and Ranging) systems, SCADA (Supervisory Control and Data Acquisition) systems, and other remote monitoring devices. This market also drives demand for secondary sources of power such as fuel cells. These type of power systems are
Off-grid power systems for remote sensing are being employed several end-use industries such as wind energy and oil and gas. The developing infrastructure of the wind energy industry and oil and gas energy industry is expected to boost the demand for off-grid power systems for remote sensing. The global market for off-grid power systems for remote sensing is likely to witness a 7.35% CAGR from 2016 to 2024. The market was worth US$1,193.85 mn in 2016 and is likely to touch a valuation of US$2,105.95 mn by the end of 2024.
Battery Backup to be Highly Preferred among Consumers
Battery backup employs batteries with nickel cadmium, lithium ion, and lead acid as a material for ensuring long battery life along with smooth performance. The technology of solar PV employs battery backup owing to irregular power supply associated with it. Based on technology, battery backup is expected to remain the leading segment in the global off-grid power systems market until the end of the forecast period. The growth of this segment is likely to be aided by the employment of advanced technologies and the inflow of investments in the production of batteries. Increasing investments in the manufacturing of batteries is resulting in the onset of advancements such as rise in energy for long running time and enhanced power for requirements in high current loads, especially in applications of remote sensing. Efforts are being taken to develop an advanced battery technology for applications remote sensing.
North America Emerged as Leading Region in terms of Consumption
In terms of region, North America emerged as the leading region in terms of adoption of off-grid power systems for remote sensing with the maximum share in 2014. In the same year, Canada and the U.S. held approximately 85% in the off-grid power systems for remote sensing market of North America. The growth of the off-grid power systems for remote sensing market in North America can be attributed to progress of the renewable energy sector thus leading to a decline in the prices of oil. Europe is also expected to display significant potential in the off-grid power systems for remote sensing market with the onset of green infrastructural projects with government investments for enhancing energy efficiency in military, forestry, bioenergy, agriculture, and wind.
The leading players in the market are Energy Solutions (UK) Ltd., Evergreen Energy Technologies Inc., Ensol Systems Inc., HES Energy Systems Pte. Ltd., Victron Energy B.V., SFC Energy AG, Timber Line Electric and Control Corporation, UPS Systems Plc., Tycon Systems Inc., and Acumentrics Holding Corporation.
Off-grid refers to the systems which are not connected to local or main power grid. These systems rely on a secondary power source such as batteries and fuel cells. Off-grid systems are often used in various situations such as where the grid lines are not available, to reduce the load from the main grid, unreliable power, or where 100% standalone power is required. Off-grid power is increasingly used by various monitoring systems: SCADA (Supervisory Control and Data Acquisition) systems, LiDAR (Light Detection and Ranging) systems, and various other remote monitoring devices.
Off-grid power systems for remote sensing are in demand by various end-user industries such as oil and gas and wind energy. The developing oil and gas industry and wind energy industry infrastructure is proving to be a boon for the off grid power systems for remote sensing market. The market is expected to grow during the forecast period.
The oil and gas industry uses off-grid power systems for remote sensing for various purposes such as at natural gas and oil well head monitoring sites, at natural gas pipeline monitoring sites, and for oil & gas reserves exploration. Other uses of off-grid power systems for remote sensing are in water resource management, weather stations, sea level monitoring systems, early flood warning sites, etc. The market also drives the demand for secondary power sources such as fuel cells. These power systems used in remote sensing systems are available in different size and capacity. Off-grid power systems are installed based upon the requirement of a remote sensing system to provide stable service for a long time.
The off-grid power systems for remote sensing market can be segmented on the basis of end-user industry into oil & gas industry, wind industry, and others. Oil & gas industry is expected to be the market leader in the off-grid power systems for remote sensing market. The systems which are capable of working in extreme conditions are more in demand. Remote sensing systems also help oil & gas operators continuously monitor the operations, reduce emissions, and prevent oil spills. Oil & gas production and exploration is hazardous and remote sensing systems enable operators to monitor the operations from distant locations without actually being in the facility.
The global off-grid power systems for remote sensing market is driven by the need for power surge protection through fuel cells and backup batteries and the growing LiDAR market in wind energy sector. Increasing investments in offshore wind energy plants would also create a demand for off-grid power systems for remote sensing. Major players of the industry focus on research and technology to develop remote sensing products with highest accuracy. The end-user industries are dependent on the data provided by the remote sensing systems for proper operations. Hence, accuracy of remote sensing system will play an important role in the growth of the off-grid power systems for remote sensing market.
Key players in the global off-grid power systems for remote sensing market include Acumentrics Holding Corporation, Tycon Systems Inc., UPS Systems Plc., Timber Line Electric and Control Corporation, SFC Energy AG, Victron Energy B.V., HES Energy Systems Pte. Ltd., Ensol Systems Inc., Evergreen Energy Technologies Inc., and Energy Solutions (UK) Ltd. The report provides an overview of these companies, followed by their financial revenues (on availability), business strategies, SWOT analysis, and recent developments. The global off-grid power systems for remote sensing market has been segmented as follows:
Off-grid Power Systems for Remote Sensing Market: By Technology Type
- Battery Backup
- Fuel Cells
Off-grid Power Systems for Remote Sensing Market: By End-users
- Oil & gas
Off-grid Power Systems for Remote Sensing Market: By Region
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Middle East & Africa
- South Africa
- South & Central America