Hybrid Power Solutions Market - Analysis, Trends & Forecasts to 2025
DUBLIN, Dec. 8, 2017 /PRNewswire/ --
The "Hybrid Power Solutions Market, 2014 - 2025" report has been added to Research and Markets' offering.
The global hybrid power solutions market is expected to be valued at USD 1.35 billion by 2025, according to a new report. 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.
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.
Companies Mentioned
- Siemens AG
- SMA Solar Technology AG
- Danvest Energy A/S
- Alpha Power Solutions
- ZTE Corporation
- Ormat
- AEG Power Solutions
- PFISTERER Holding AG
- Repowering Solutions
- ReGen Powertech
Key Topics Covered:
Chapter 1 Methodology and Scope
Chapter 2 Executive Summary
Chapter 3 Hybrid Power Solutions Market Variables, Trends, and Scope
Chapter 4 Hybrid Power Solutions Market: System Type Estimates & Trend Analysis
Chapter 5 Hybrid Power Solutions Market: Power Rating Estimates & Trend Analysis
Chapter 6 Hybrid Power Solutions Market: End-use Estimates & Trend Analysis
Chapter 7 Hybrid Power Solutions Market: Regional Estimates & Trend Analysis
Chapter 8 Competitive Landscape
Chapter 9 Company Profiles
For more information about this report visit https://www.researchandmarkets.com/research/x7rpxl/hybrid_power
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