Market Research Analysis Off-grid Solar Power Systems Market Sales Channel | Page 2

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.
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.
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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.
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