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Off-grid Power Systems for Remote Sensing Market anticipated to expand at 7.35% CAGR By 2024

Friday, September 30, 2016 5:12
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Transparency Market Research has released a new market report titled “Off-grid Power Systems for Remote Sensing Market – Global Industry Analysis, Size, Share, Growth Trends, and Forecast 2016 – 2024.” According to this report, the global off-grid power systems for remote sensing market was valued at US$ 1,193.85 Mn in 2016 and is projected to reach US$ 2,105.95 Mn by 2024 at a CAGR of 7.35% from 2016 to 2024.

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 coupled with the growing applications/adoption of LIDAR in the wind energy sector. Increasing investments in offshore wind energy plants will also create a demand for off-grid power systems for remote sensing. Major players of the industry focus on research and technology to develop a remote sensing product 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 systems will play an important role in the growth of the off-grid power systems for remote sensing market.

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Use of off-grid technologies reduces the reliability on grid power, enabling smooth operations in remote sensing activities. Battery backup uses batteries with lead acid, lithium ion, and nickel cadmium, among others as a material to ensure longer battery life for smooth performance. Solar PV technology also uses battery backup due to its intermittent power supply problem. Fuel cells is a new and emerging technology and the market for fuel cells is anticipated to expand at a high rate in the next few years. In terms of technology, battery backup is anticipated to be the largest segment of the global off-grid power systems for remote sensing market during the forecast period. The battery backup segment is driven by the use of advanced technologies and the influx of investments in battery manufacturing. High investments in battery manufacturing are resulting in advancements such as increased energy for longer runtimes and improved power for high current load requirements which are particularly required in remote sensing applications. Significant efforts are being undertaken to develop the battery technology for remote sensing applications. For instance, the ratio capacity to size is increasing. This enables a higher number of power consuming activities such as longer flights and heavier payloads. In terms of new development, major companies are developing remote power systems for outdoor backup power solutions which provide uninterrupted power supply for monitoring activities in oil & gas and wind energy sector.

Fuel cells are also used as one of the off-grid power supply options for remote sensing in oil & gas and wind energy sectors. Fuel cell technologies are being developed in order to support climate change and meet energy security goals in several industries, such as transportation, industry, buildings, and power. Fuel cell companies are seeking government help to accelerate the development and deployment of fuel cell technologies by ensuring continued research, development, and demonstration (RD&D) funding for hydrogen generation and conversion technologies, such as electrolyzers and fuel cells.

Other technologies considered in off-grid power systems for remote sensing market include solar PV and hybrid technology. Solar PV can be used as a source of power for UAVs (Unmanned Aerial Vehicles) in remote sensing, usually for large-sized platforms with long flying missions. Solar cells combined with Li Po (Lithium Ion Polymer) and Li S (Lithium Ion Sulfide) batteries constitute a day/night power solution for several days of flight which is a hybrid technology of solar cells and battery backup.

The oil & gas end-user segment dominated the off-grid power systems for remote sensing market in 2014. Growth of the LIDAR market and demand for alternate energy have fueled the demand for off-grid power systems for remote sensing market. The wind energy sector uses SODAR (SOnic Detection and Ranging) and LiDAR (Light Detection and Ranging) technologies to support wind resource assessments. These remote sensing devices are quite easy to use and move from site to site. Remote sensing is used in various other industries such as water resource management, military, weather stations, agriculture, and bioenergy. Remote sensing devices coupled with off-grid technologies are used to acquire accurate data with the help of images taken from space using satellites or using aircrafts.

Wind energy is becoming a prevalent source of renewable energy based power generation for electricity in windy areas. Wind resource assessment is an essential and necessary step for appropriate wind turbine selection. A typical wind energy development project has three important aspects of measurement: quantification of available wind resource, study of geographical and geological conditions of the project site, and wind turbine power curve. The wind energy assessment process could include usage of remote sensing data to assess any of the components such as precision of extrapolations from tower data, shear coefficients to be used with tower data, hub-height wind speeds and directions, and wind resource variability across the site. Remote sensing equipment such as SODAR and LIDAR are used to support wind resource assessments. These provide wind turbine hub-heights, wind speeds and direction, vertical wind speeds, and wind shear and veer above the heights of typical meteorological (met) tower measurements.

Other end-user industries where remote sensing is used through off-grid power systems include water resource management, forestry, agriculture, military, and weather stations. Different data sources such as field survey, aerial photography, and satellite imagery are used to gather various information requirements in forest management, depending upon the level of details required and extension of the area under study.

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 off-grid power systems for remote sensing market has been segmented as:

Off-grid Power Systems for Remote Sensing Market: By Technology Type

  • Battery Backup

  • Fuel Cells

  • Others

Off-grid Power Systems for Remote Sensing Market: By End-users

  • Oil & gas

  • Wind

  • Others

About Us

Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of Analysts, Researchers, and Consultants, use proprietary data sources and various tools and techniques to gather and analyze information.

Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.

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