Global hybrid power solutions market is expected to grow with a CAGR of 8% over the forecast period of 2018-2024
LONDON, Sept. 20, 2018 /PRNewswire/ -- The report on global hybrid power solutions market provides qualitative and quantitative analysis for the period of 2016 to 2024.
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The report predicts the global hybrid power solutions market to grow with a CAGR of 8% over the forecast period of 2018-2024. The study on hybrid power solutions market covers the analysis of the leading geographies such as North America, Europe, Asia-Pacific and RoW for the period of 2016 to 2024.
The hybrid power solution is able to provide the sufficient amount of electrical power to the rural and remote areas that are driving the growth of hybrid power solutions market. The hybrid power generation system uses various energy sources to give eco-friendly solutions to the off Grid sites. The rapidly growing use of hybrid power generation systems in off Grid sites is likely to boost the growth of hybrid power solutions market. In addition, besides from the independent, economic and environmentally friendly solution, the hybrid power solutions also offer a reduction in the fuel, maintenance and operational costs that are anticipated to escalate the growth of hybrid power solution market. For instance, The Horizon 2020 SUNINBOX project has introduced a photovoltaic generator that is able to provide a clean, renewable and economical source of energy that can help reduce consumption of fossil fuels to mitigate global warming. It provides energy off-grid to remote communities with no electricity or as part of a hybrid energy generation system. However, high initial investments may hamper the growth of hybrid power solution market. Moreover, the rapidly increasing adoption of renewable energy across the globe is projected to create the various opportunities for the companies working in the hybrid power solutions market over the forecast period.
Among the regions, the Asia Pacific region accounted for the maximum market share in the hybrid power solutions market in 2017 and is expected to remain dominant throughout the forecast period. The rapidly growing use of renewable energy in Asia Pacific region drives the growth of hybrid power solution in this region. The end-user industries in Asia Pacific region are focusing on the adoption of hybrid power solution to provide the power that led to the rising number of hybrid power plants across this region. For instance, In May 2018, a prolific trio of major companies in natural gas, energy storage, and renewable energy project development have united to take on Asia's energy storage market, with Japan's JERA, Australia's Lyon Group and US-headquartered multinational Fluence announced a partnership.
The report on hybrid power solutions market is a comprehensive study and presentation of drivers, restraints, opportunities, demand factors, market size, forecasts, and trends in the global hybrid power solutions market over the period of 2016 to 2024. Moreover, the report is collective presentation of primary and secondary research findings.
Porter's five forces model in the report provides insights into the competitive rivalry, supplier and buyer positions in the market and opportunities for the new entrants in the global hybrid power solutions market over the period of 2016 to 2024. Further, IGR- Growth Matrix given in the report brings an insight on the investment areas that existing or new market players can consider.
Research Methodology
A) Primary Research
Our primary research involves extensive interviews and analysis of the opinions provided by the primary respondents. The primary research starts with identifying and approaching the primary respondents, the primary respondents are approached through
1. Key Opinion Leaders associated with Infinium Global Research
2. Internal and External subject matter experts
3. Professionals and participants from LinkedIn, Hoovers, Factiva and Bloggers
Our primary research respondents typically include
1. Executives working with leading companies in the market under review
2. Product/brand/marketing managers
3. CXO level executives
4. Regional/zonal/ country managers
5. Vice President level executives.
B) Secondary Research
Secondary research involves extensive exploring through the secondary sources of information available in both public domain and paid sources. At Infinium Global Research, each research study is based on over 500 hours of secondary research accompanied by primary research. The information obtained through the secondary sources is validated through the crosscheck on various data sources.
The secondary sources of the data typically include
1. Company reports and publications
2. Government/institutional publications
3. Trade and associations journals
4. Databases such as WTO, OECD, World Bank, and among others.
5. Websites and publications by research agencies
Segment Covered
The global hybrid power solutions market is segmented on the basis of type, power rating, product and end-user.
Global Hybrid Power Solutions Market by Type
- Wind-Diesel
- Solar-Diesel
- Solar-Wind-Diesel
- Others
Global Hybrid Power Solutions Market by Power Rating
- Upto 10kW
- 11 KW-100 KW
- Above 100kW
Global Hybrid Power Solutions Market by Product
- Standalone
- Grid Connected
Global Hybrid Power Solutions Market by End-User
- Residential
- Industrial
- Commercial
Company Profiles
- SMA Solar Technology AG
- Siemens AG
- Huawei Technologies Co.
- ZTE Corporation
- Heliocentris Energy Solutions AG
- Danvest Energy
- PFISTERER Holding AG
- Flexenclosure AB, LTD
- Others
How this report delivers?
1. Comprehensive analysis of global as well as regional markets of hybrid power solutions market.
2. Complete coverage of all the segments in hybrid power solutions market to analyze the trends, developments in the global market and forecast of market size up to 2024.
3. Comprehensive analysis of the companies operating in global hybrid power solutions market. The company profile includes analysis of product portfolio, revenue, SWOT analysis and latest developments of the company.
4. IGR- Growth Matrix presents analysis of the product segments and geographies that market players should focus to invest, consolidate, expand and/or diversify.
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