FORT WORTH, Texas, May 15, 2015 /PRNewswire/ --
The global hybrid grid market was valued at $1,051.2 million in 2014, and is expected to reach $1,922.5 million by 2019, at a CAGR of 12.8% from 2014 to 2019.
Browse through the TOC of global hybrid grid market for an in-depth analysis of the industry trends and segments, with help of various tables and figures.
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This global hybrid grid market is segmented and forecast on the basis of consumption pattern and application. In terms of consumption pattern the market comprises urban/metropolitan, semi-urban, and rural/island segments. The market is further segmented and forecast based on application, which covers defense & military, campus/institutional, commercial, and others.
With the growth in population and widespread industrialization, there has been a rapid increase in demand for electricity. This has led to congestion and stress on the traditional grid and power utilities. In addition to congestion of the traditional grid, aging infrastructure poses a serious challenge too. In such a situation, the use of hybrid grids is advantageous because of the benefits they offer, such as, memory savings, use of implicit methods, and so on. With the hybrid grid systems in place, backup power is available for 24 hours a day, thereby providing reliable power.
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Local, state, regional, and national governments worldwide are promoting green energy initiatives to ensure energy sustainability. They are providing incentives for energy efficiency, renewable power generation, and infrastructure for electric vehicles. All these factors together stimulate the investments in the advanced energy infrastructure which in turn will boost the global market for hybrid grids.
This report includes market share and value chain analysis, along with market metrics, such as drivers and restraints. In addition, it presents a competitive landscape and company profiles of the key players in this market.
The Global Connected Grid Market was valued at $3,534.9 million in 2014, and is expected to reach $7,210.0 million by 2019, at a CAGR of 15.3% from 2014 to 2019.
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