Product ID: SQMIG55A2027
Report ID:
SQMIG55A2027 |
Region:
Global |
Published Date: March, 2024
Pages:
182
|
Tables:
96 |
Figures:
76
In 2022, North America held the dominant position in the global market and contributed more than 35.0% of total sales. It is anticipated that the high adoption rate of captive power generating techniques in the industrial and municipal sectors of the United States will have a significant impact on lowering dependency on the government-controlled power supply. The market for electricity distribution systems is expected to expand during the next eight years as a result of the significant presence of silver and copper ore processing plants in Peru and Chile and those countries' substantial mineral deposits.
Asia Pacific is anticipated to witness substantial growth between 2023 and 2030. The optimistic prognosis for the manufacturing and construction industries in important countries like China and India as well as legislative support for promoting domestic investment are expected to be major driving drivers. The Middle East and Africa area is also seeing expansion in the microgrid business as a result of the desire to improve energy security and reduce dependence on conventional fuel sources. Microgrids are being developed by nations like Saudi Arabia and the United Arab Emirates to power far-off oil and gas projects and provide access to energy in rural areas.
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Product ID: SQMIG55A2027