San Francisco 6 May 2019 The
Report Hybrid Power Solutions Market Analysis By System Type, By Power Rating
(Up to 10kW, 11kW - 100kW, Above 100kW), By End-use (Residential, Commercial,
Telecommunication), And Segment Forecasts, 2018 - 2025
The global hybrid power solutions market is expected
to be valued at USD 1.35 billion by 2025, according to a new report by Grand
View Research, Inc. Hybrid power solutions are increasingly used owing to
advantages such as less fuel consumption and low electrification rates.
Hybrid power solution systems incorporate more than one
type of power source and designed for the generation of centralized electricity
grid. They are used to provide energy to many remote areas in developing
countries such as India. In addition, the system possesses an ability to offset
disadvantages such as fuel flexibility, CO2 emissions, and
reliability. The systems are manufactured to achieve desired attributes at
lower cost and maximum efficiency, which in turn is expected to fuel the market
growth over the forecast period.
Solar-diesel system type
was the largest segment in 2016 and valued at USD 216.1 million. The solar
energy and diesel hybrid systems provide energy by using solar irradiance,
which is both free & abundant. These systems can be used in various industrial
applications such as road lighting and fishing boats. In comparison to gensets
systems, solar-diesel provide numerous advantages as they have the capability
to minimize CO2 emissions and also reduce the risks associated with increasing
fuel prices.
Several companies in the
U.S., such as Bergey Wind Power Company (BWC); Integrated Power Corporation
(IPC); and New World Power Corporation (NWPC), are investing heavily in the
product and market development activities, which includes the development of
equipment necessary for providing electricity to remote areas. In a bid to lure
more customers, companies are focusing on novel product development.
Access Research Report of Hybrid
Power Solutions Market @ http://www.grandviewresearch.com/industry-analysis/hybrid-power-solutions-market
Further key findings from the report suggest:
· The global hybrid power solutions market
was valued at USD 1,352.4 million by 2025 and is estimated to denote a CAGR of
9.5% from 2017 to 2025
· The global demand for wind-diesel system
type was valued at USD 180.4 million in 2016. The segment is anticipated to
record steady growth over the next 8 years.
· Commercial sector is anticipated to be the
fastest-growing segment, by end use, ascending at a CAGR of 9.9% over the next
8 years
· The Middle East and Africa is anticipated
to progress at a CAGR of 9.6% over the forecast period. Growing government
initiatives toward power generation through renewable sources are expected to
boost the demand for solutions in the coming years.
· Key players of the market include Siemens
AG; SMA Solar Technologies AG; Danvest Energy A/S; Alpha Power Solutions; and
PFISTERER Holding AG. These players often engage in the research &
development activities in order to expand their product portfolios and gain
larger market shares.
Browse more reports of this category by Grand View
Research at: https://www.grandviewresearch.com/industry/conventional-energy
Grand View Research has
segmented the global hybrid power solutions market on the basis of system type,
power rating, end use, and region:
System Type Outlook (Revenue, USD Million;
2014 - 2025)
·
Solar-Diesel
·
Wind-Diesel
·
Solar-Wind-Diesel
·
Others
Power Rating Outlook (Revenue, USD Million;
2014 - 2025)
·
Up to 10kW
·
11kW-100kW
·
Above 100kW
End-use Outlook (Revenue, USD Million;
2014 - 2025)
·
Residential
·
Commercial
·
Telecommunication
·
Others
Regional Outlook (Revenue, USD Million;
2014 - 2025)
·
North America
·
Europe
·
Asia Pacific
·
Central & South America
·
Middle East & Africa
Access Press Release of
Hybrid Power Solutions Market@ https://www.grandviewresearch.com/press-release/global-dna-gene-chip-market
About Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides
syndicated research reports, customized research reports, and consulting services.
To help clients make informed business decisions, we offer market intelligence
studies ensuring relevant and fact-based research across a range of industries,
from technology to chemicals, materials and healthcare.
