Sep 21, 2018   SOURCE: BusinessWire

Off-Grid Power Systems: Worldwide Market Analysis & Outlook (2018-2024) - ResearchAndMarkets.com

The "Off Grid Power System Market: Global Industry Analysis, Trends, Market Size and Forecasts up to 2024" report has been added to ResearchAndMarkets.com's offering.

The report predicts the global off grid power system market to grow with a CAGR of 17.8% over the forecast period of 2018-2024.

Increased consumption of energy and depleting natural resources have increased the sales of the off-grid power supply which drives the growth of the off-grid power system market. In addition, the demand for offshore wind energy plants for remote sensing is boosting the growth of the off-grid power system market.

However, high installation cost compared to other power generating sources are the factors restraining the growth of the off-grid power system market. Furthermore, the declining costs of decentralized renewable technology, the affordability and ease of access to off-grid technologies has increased which in turn is anticipated to bring favorable opportunities for the off-grid power system market.

Among the geographies, Asia Pacific dominated the off-grid power system market. According to the International Energy Agency, India stands out as one of the largest electrification success stories in history accounting for 2 out of every 5 people gaining access to electricity who hadn't previously had access, since 2000.

Companies Profiled

  • Koninklijke Philips N.V.
  • Niwasolar
  • Tata Power Solar Systems Ltd.
  • SunnyMoney
  • Omnivoltaic Power Co. Ltd.
  • WakaWaka
  • BBOXX Ltd.
  • Sinoware Technology Co. Ltd.
  • Azuri Technologies Ltd.

For more information about this report visit https://www.researchandmarkets.com/research/kp8n2d/offgrid_power?w=4