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Hybrid Solar Wind Market a Comprehensive Analysis | Key Players - ReGen, Blue Pacific Solar Product, Inc., UNITRON Energy System Pvt. Ltd and Supernova Technologies Private Limited

07-21-2018 08:53 AM CET | Energy & Environment

Press release from: Global Market Insights, Inc.

Hybrid Solar Wind Market

Hybrid Solar Wind Market

High urge for reliable power supply along with strict legislations to curb the release of GHG in the atmosphere will push hybrid solar wind market growth. Moreover, favorable government policies encouraging the use of renewable energy along with strict regulation executions for reducing power consumption is expected to positively influence the industry growth. According to a report by Global Market Insights, Inc., “Hybrid solar wind market value is forecast to hit USD 1.47 billion by 2024.” Furthermore, declining manufacturing costs of the components such as wind blades, solar panels, and wind turbines are expected to contribute considerably towards the market growth.

Hybrid solar wind systems find key applications across industrial, residential, and commercial sectors. High requirement for continuous electricity supply is anticipated to drive the hybrid solar wind industry revenue across the commercial sector. Hybrid solar wind market size in industrial sector worth USD 224 million in 2015, is anticipated to witness a significant growth over the coming years. Government efforts to minimize carbon emissions is expected to drive the growth. The rise in the number of electrification programs across the emerging economies, primarily concentrating on decentralizing the power generation, will boost the industry growth across the residential sector.

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Standalone and grid connected are the major products through which hybrid solar wind systems are deployed. Grid connected hybrid solar wind industry size is expected to record a CAGR of 10% over the period of 2016-2024. Net metering, low deployment costs, and feed in tariff are the key growth drivers. Standalone hybrid solar wind market revenue is expected to grow significantly over the coming years, owing to its cost-effectiveness as compared to grid connected products.

Below are the regional trends influencing hybrid solar wind market over 2016-2024

Growing investments across renewable energy projects is projected to drive Australia hybrid solar wind industry size over the next few years. The government of Australia has allocated USD 1 billion funds for clean energy technology projects.
Chile hybrid solar wind market revenue is anticipated to grow at a rate of 11% over the period of 2016-2024.

Shortage of power supply and high demand for off grid electricity will favor Nigeria hybrid solar wind industry outlook over the next few years.
South Africa hybrid solar wind industry revenue is expected to hit USD 12 million over the coming timeframe.
Government policies encouraging the use of sustainable energy along with rural electrification programs are expected to boost India hybrid solar wind market trends.

U.S. hybrid solar wind industry will grow considerably over the coming years, driven by heavy focus on consumption of renewable energy along with beneficial government policies supporting energy conservation.
Market participants will try to enhance their ROI through product differentiation as well as technological innovations. Key industry participants include Blue Pacific Solar Product Inc., Alpha Windmills, Alternate Energy Company, ReGen Powertech, Unitron Energy System Private Limited, Polar Power Inc., Zenith Solar Systems, Gamesa, Grupo Dragon, and Supernova Technologies Private Limited.

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Global Hybrid Solar Wind Product Analysis (MW, USD Million, 2013 - 2024)
Standalone
Grid Connected
Global Hybrid Solar Wind End Use Analysis (MW, USD Million, 2013 - 2024)
Residential
Commercial
Industrial
Global Hybrid Solar Wind Regional Analysis (MW, USD Million, 2013 - 2024)
North America
North America hybrid solar wind market by product
Standalone
Grid Connected
North America hybrid solar wind market by end use
Residential
Commercial
Industrial

About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research

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Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone: 1-302-846-7766
Toll Free: 1-888-689-0688
Email: sales@gminsights.com
Web: https://www.gminsights.com
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