The report "Hybrid
Power Solutions Market by System Type (Solar-Diesel, Wind-Diesel,
Solar-Wind-Diesel), Power Rating (Upto 10 kW, 11 kW–100 kW, and Above 100 kW),
End-User (Residential, Commercial, Telecom), and Region - Global Forecast to
2021",
The hybrid
power solutions market is expected to grow at a CAGR of 8.1% from 2016 to
2021, to reach a market size of USD 689.5 million by 2021. Growth in hybrid
power generation in off-grid sites, reliable power generation with minimized
fuel, and reduced operation and maintenance cost, and reduction in carbon
emission are the major drivers of the hybrid power solutions market.
The hybrid power solutions market is dominated by a few
global players that have an extensive regional presence and are established
brand names. Leading players in the hybrid power solutions industry include SMA
Solar Technology AG (Germany), Siemens AG (Germany), Huawei Technologies Co.,
LTD (China), ZTE Corporation (China), Flexenclosure AB, LTD (Sweden), and
Heliocentris Energy Solutions AG (Germany) among others.
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Solar-diesel segment is estimated to be the fastest
growing market for hybrid power solutions from 2016 to 2021. Solar-diesel
hybrid power solutions are a combination of solar PV panels and diesel
generators. Solar-diesel hybrid power solutions has maximum market share in
total hybrid power solutions. The main reason behind maximum share is falling
price of solar PV panels and huge availability of solar power in Africa and
Asia-Pacific region. Availability of solar power is more than wind power which
helps solar-diesel hybrid to capture most of the market share.
Upto 10 kW rated hybrid power systems are estimated to be
the fastest growing market for hybrid power solutions during the forecast
period. Upto 10 kW rated solar hybrid power solutions are largely applicable
for residential or home network and a few commercial systems. Based on
end-user, the residential segment is estimated to be the fastest growing market
during the forecast period. Demand for residential systems is mainly driven in
rural areas of Asia-Pacific and African countries for lighting and domestic
purpose for small residential sector users.
Target Audience:
The report’s target audience includes:
·
Hybrid power solutions providers
·
Solar PV panels and wind turbines manufacturers
·
Battery storage manufacturers
·
Regional renewable energy associations
·
Government organizations and research
institutions
·
Consulting companies in the energy & solar
sector
·
Solar and wind energy associations
·
Environmental associations
·
Investment banks
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The Middle East & African market is projected to be
the fastest growing for hybrid power solutions from 2016 to 2021. The Middle
East & African market’s growth is driven by oil & gas industry
operation and residential sectors. UAE, Nigeria, Mali, and Senegal are expected
to witness significant growth during the forecast period. UAE is one of the key
players in oil & gas industry. Approximately 40% of country’s GDP is
contributed from oil and gas industry. UAE and the other Middle Eastern
countries have low rural electrification rate, where installing hybrid power
solutions will ensure reliable power supply, at oil and gas sites and
residential sectors situated at off grid areas.
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Mr. Shelly Singh
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
sales@marketsandmarkets.com
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