Global Hybrid Power Solutions Market Outlook, Trend and Opportunity Analysis, Competitive Insights, Actionable Segmentation & Forecast 2024

Published - May 2019 | Category - Energy and Power | No. of Pages - 140 | Published By - EMR


The Global Hybrid Power Solutions Market valued at USD 658.0 million in 2017 and is likely to generate a demand of USD 1,302.0 million by 2024, while actuating at a CAGR of 9.6% over the next seven years.

Transition towards environment friendly sources of energy with low operational as well as maintenance costs has led to market expansion. Advanced renewable technologies in order to reduce the carbon emissions are already in place in developed nations. Thus, the focus has been shifting towards developing nations due to a rise in demand for cheap, regular and reliable energy in these regions.

Additionally, various adverse effects of carbon emissions such as high temperature, high risk of flooding, heat waves and rising coastal erosion rates have further increased the inclination towards hybrid power. Moreover, several stringent regulations working towards the reduction of the carbon emissions will further boost the market growth. However, huge amount has to be spent for the initial installation of hybrid power systems, which may hinder market growth from 2018 to 2024.

Global Hybrid Power Solutions Market Major Key Players:
SMA Solar Technology AG
Siemens AG
GE Power
PowerOasis Ltd.
Heliocentris Energy Solutions AG
Danvest Energy A/S
PFISTERER Holding AG
Vergnet
ZTE Corporation
Electro Power Systems S.A
Others


 

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