The Global Off-Grid Market has been fragmented on the basis of application, consumption pattern, and geography. Depending on the application, the market is segmented into defense & military, campus/institutional, commercial, and others. On the basis of consumption patterns, the global off grid market has been segmented into urban/metropolitan, semi-urban, and rural/island.
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The key players in the global off-grid market are ABB Ltd. (U.S.), Siemens AG (Germany), Honeywell International (U.S.), General Electric (U.S.), Lockheed Martin Corp. (U.S.) and Eaton Corporation (Ireland), among others. The market leaders are applying key growth strategies, which include merger & acquisition, and new product development for a long-term and sustainable market hold.
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Electricity is generated by large, remote power plants in the centralized power grid, and this mode of transmission has been succeeded in delivering electricity across continents till today.
A lot of companies like ABB Ltd (U.S.), Siemens AG (Germany), and General Electric (U.S.) are embarking on the off-grid business. These companies are investing in this growing market to gain higher profits and to increase their shares in the global off-grid market.
Recently, ABB Ltd. (Switzerland) acquired Power-One Inc. (U.S.), a leading provider of renewable energy, energy-efficient power conversion, and power management solutions. Similarly, Siemens acquired SenergySistemas de Medição S.A (Brazil), which is a smart metering company. With this acquisition, Siemens expanded its business in the off-grid market.
