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Asia Pacific Microgrid Market is set to grow at a promising rate in the coming years because of the rise in demand for uninterrupted electricity supply. There is a growing need for uniform electrification among consumers and end-user industries in the developing economies of the region. These countries are witnessing notable progress lately which has resulted in rising demand for energy to help the economy grow even more.
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Asia Pacific Microgrid Market to witness robust expansion by 2027: Graphical Research ©2018 Graphical Research. All rights reserved. www.graphicalresearch.com
Asia Pacific Microgrid Market is set to grow at a promising rate in the coming years because of the rise in demand for uninterrupted electricity supply. There is a growing need for uniform electrification among consumers and end-user industries in the developing economies of the region. These countries are witnessing notable progress lately which has resulted in rising demand for energy to help the economy grow even more. Many industries are looking out for renewable sources of energy to reduce their dependence on fossil fuels. This major move comes in light of the growing awareness among companies about the harmful environmental effects of using fossil fuels. Many initiatives are being taken up to install regional and medium scale energy infrastructure which will fuel the demand for microgrid networks. Utility-based grid systems will expand to a great extent because of the rise in government initiatives to provide sustainable electric systems to various industries. Renewable technologies are being adopted on a large scale across the region as well. Governments in many countries are introducing strict rules with the aim to reduce their carbon footprint and are bringing out favorable policies like tax incentives and feed-in tariffs to encourage companies to adopt green technologies and fulfil their electricity needs. For example, the Chinese government has promised to reduce its carbon footprint per unit of its GDP by nearly 60-65% from the period of 2005 to 2030. This important step will encourage the installation of sustainable microgrid technologies. Many nations across APAC region are increasing their investments towards expanding and refurbishing the existing electrical infrastructure. The adoption of smart electric networks is on the rise as they help in increasing the efficiency of the energy system by using lesser resources to generate maximum power. The electricity distribution systems are undergoing technological advancements as well, which will further drive regional microgrid market. ©2018 Graphical Research. All rights reserved. www.graphicalresearch.com
Get sample copy of this research report @ https://bit.ly/3QiOAEW Flywheel, lithium-ion, flow batteries and lead acid are some of the storage solutions widely used in microgrid systems. Out of these, flywheel storage devices will experience strong rise in demand among end-users because they are quite reliable and efficient in storing renewable energy. They have a longer lifespan and lower environmental impact as compared to some counterparts. The solutions don’t require frequent replacements and their cost of maintenance is quite low as well. Flywheels have a wide range of applications across varied areas like transportation, microgrid networks, Uninterrupted Power Supply (UPS) system and many others. India microgrid market will grow at a substantial rate in the future mainly because of the sharp rise in industrialization, commercialization and urbanization activities, which are increasing the need for continuous power supply. The government has turned its attention towards introducing sustainable energy sources to create a positive impact on the environment. Incidents of power cuts in the nation are growing along with the demand for electricity, thereby fostering APAC microgrid market. Some eminent companies that are involved in the production and distribution of microgrid network systems across APAC region are Eaton Corporation, Hitachi ABB Power Grids, Schneider Electric, Toshiba Corporation and many others. Request for customization @ https://bit.ly/3QiOD3A ©2018 Graphical Research. All rights reserved. www.graphicalresearch.com
Segmentation of Asia Pacific Microgrid Market: • Asia Pacific Market, By Connectivity • Grid-connected • Off-grid • Asia Pacific Market, By Grid type • AC microgrid • DC microgrid • Hybrid • Asia Pacific Market, By Source • Diesel generators • Natural gas • Solar PV • CHP • Others • Asia Pacific Market, By Storage Device • Lithium-ion • Lead acid • Flow battery • Flywheels • Others ©2018 Graphical Research. All rights reserved. www.graphicalresearch.com
Asia Pacific Market, By Application • Healthcare • Educational institutes • Military • Utility • Industrial/commercial • Remote • Others • The above information has been provided for the following countries: • Asia Pacific • China • Japan • South Korea • India • Australia • Indonesia ©2018 Graphical Research. All rights reserved. www.graphicalresearch.com
About Graphical Research: Graphical Research is a business research firm that provides industry insights, market forecast and strategic inputs through granular research reports and advisory services. We publish targeted research reports with an aim to address varied customer needs, from market penetration and entry strategies to portfolio management and strategic outlook. We understand that business requirements are unique: our syndicate reports are designed to ensure relevance for industry participants across the value chain. We also provide custom reports that are tailored to the exact needs of the customer, with dedicated analyst support across the purchase lifecycle. Contact Us: Parikhit B. Corporate sales, Graphical Research Email:sales@graphicalresearch.comWeb: https://www.graphicalresearch.com ©2018 Graphical Research. All rights reserved. www.graphicalresearch.com
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