Hybrid Power Solutions Market Quadruples by 2023; with a ~ 7.85 % of Whooping CAGR; SMA Solar Technology AG, Siemens AG, Alpha Power Solutions, Danvest Energy A/S and ZTE Corporation

The Hybrid Power Solutions Market was worth USD 0.44 billion in the year 2014 and is expected to reach approximately USD 0.86 billion by 2023, while registering itself at a compound annual growth rate (CAGR) of 7.85% during the forecast period.

Hybrid Power Solutions Market - Competitive Outlook and Trend Analysis:

Some of the major market manufacturers of this market are SMA Solar Technology AG, Siemens AG, Alpha Power Solutions, Danvest Energy A/S and ZTE Corporation. The market is categorized by the prevalence of companies which have incorporated functions via several distribution channels therefore letting them reach customers with ease. Moreover, market players of the product are aiming on creating inventive products to garner advantages with respect to cost, low maintenance, and easy process of manufacturing. SMA Solar Technology AG renders broad collection of hybrid power solutions and the company’s products consists turnkey solutions and off grid components. The company has partnered with MVV Energie AG for the purpose of direct marketing solar power to generate solutions for the operators of PV inverters having a productivity of more than 100kWp.

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Hybrid Power Solutions Market - Industry Outlook and Trend Analysis:

Increasing burden from the political end to decrease CO2 emissions along with less maintenance and operational costs is predicted to be the prime element which propelling this market during the forecast period. With the aim to generate energy, hybrid power system is a mix of several technologies. This system integrates renewable sources of energy by combining it with secondary sources like fuel cell or diesel. Energy sources which are based on fossil fuel produce carbon, which leads to adverse effect on the human health as well as the environment. Some of the effects of the rising carbon emissions and many other greenhouse gases are greater risk of flooding, escalating temperature, ascending coastal erosion rates and heat waves. All of these elements have resulted to an increased predisposition towards the utilization of hybrid power. More and more need for generating clean energy along with the existence of major international market players is predicted to assist the global growth of this market. Because of the exclusive properties and characteristics linked with the decrease of carbon emissions, the insight of hybrid solutions in rising. Moreover, these solutions use less amount of fuel while giving expanded result. In addition, escalating awareness pertaining to the global warming has led to the shift of focus toward hybrid power solutions system in the market.

Hybrid Power Solutions Market - System Type Outlook and Trend Analysis:

The customer is greatly benefited by solar diesel since it supplements value and renders stable and constant power grid along with recurring availability of energy. Solar diesel also leads to fuel savings, since PV generator can bear load in presence of adequate sunlight and diesel gensets can be taken off. Furthermore, it has the potential to equalize the existence of energy and demand of electricity during night time. All these factors are anticipated to attribute to the growth of the particular segment in the forthcoming years. With the help of diesel generator and wind turbine, wind-diesel system generates electricity. The system decreases the consumption of fuel and functional cost. In places where strong winds are circulated, such generators work with great efficiency. Solar-wind diesel system does not pollute the nature and is apt for places where the velocity of the wind in nearly 5 to 6m/s. Equally, renewable energies balance each other, which means, during the day, the batteries are charged using solar energy and during monsoon, wind is used to generate energy. Moreover, such systems are utilized to provide electricity for ecological development in rural areas and comprises of the potential to render prolonged machine life and reduced operating cost. Hence, the benefits given by these systems like decreasing constantly higher running cost of the generator are predicted to impel the market on a global level during the forecast period.

Hybrid Power Solutions Market - Power Rating Outlook and Trend Analysis:

In 2016, the 11kW-100kW segment was the greatest and is anticipated to register at a higher compound annual growth rate (CAGR). Such kinds of solutions are utilized in hybrid power devices and electric vehicles. The hybrid electric vehicles are fabricated with electric motor and gasoline engine and retains the potential to efficiently control the issues with the environment like air pollution which is a resultant of CO2 emissions. Factors like these have escalated the general need for hybrid vehicles, which is as a result predicted to fuel the segment growth.

To satisfy the requirements of towns, above 100kW kind of product is sufficient, where the everyday consumption is more than 1000kW/day. These systems consists of many gensets which beards the overall load with great efficiency. Moreover, in places having enhanced solar resources, the system can create 1kW/hour from solar PV at the least cost as compared to its diesel equivalents. Factors like these are predicted to benefit the market’s growth over the forecast period.

The Global Hybrid Power Solutions Market is segmented as follows-

Hybrid Power Solutions Market - By System Type:

Solar-diesel
Wind-diesel
Solar-Wind-diesel
Others

Hybrid Power Solutions Market - By Power Rating:

Up to 10kW
11kW - 100kW
Above 100kW

Hybrid Power Solutions Market - By End User Outlook:

Residential
Commercial
Telecommunication
Others

Hybrid Power Solutions Market - End User Outlook and Trend Analysis:

In 2016, commercial segment was the biggest which was accountable for 37.4% of the market share. Usually, during the noon and evening time, the load curve for residential application is more. Moreover, in the night time the energy demand in the rural areas is quite limited, which as a result leads to reduced load in comparison with the electricity demand in the morning. Diesel gensets on their own to do not meet the requirements in rural areas owing to restrictions like less efficiency and higher consumption of fuel. On the other hand, hybrid power solutions render a potential to resource load in the night which is likely to add lucratively to the need from residential segments in rural areas. Telecom industry is swelling across globe, particularly in remote areas. The use of diesel as an ecofriendly substitute for generating power has become quite difficult to justify. Hence, hybrid products are less reliant on diesel generators, which leads to more efficiency of energy along with cost management linked with power generators and fuel supply. Hybrid products are used as water pumps for irrigation purpose. Elements like irregular weather, dearth of electricity and greater investments in diesel pumping system poses an economic risk to the farmers. Several governments across the globe have attempted many initiatives for developing agriculture. For example, the Indo-German Energy Programme backs the solar water pumping efforts in India.

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Hybrid Power Solutions Market - By Region:

North America - U.S, Canada, Mexico

Europe - Germany, France, UK, Italy, Spain, Rest of Europe

Asia-Pacific - Japan, China, Australia, India, South Korea, Rest of Asia Pacific

Rest of the World - Brazil, South Africa, Saudi Arabia, United Arab Emirates, Others

Regional Outlook and Trend Analysis:

The Asia Pacific market with respect to product is anticipated to escalate at a considerable rate due to escalating awareness linked with damaging environmental effects of diesel-based power generators. Moreover, inadequate occurrence of grid-related infrastructure needed for conventional power generation products is anticipated to be the prime market growing driver in this region. The Middle East and Africa is ready to adopt hybrid power solutions due to the rising awareness pertaining to the superior product features like higher efficiency and less carbon emissions.

Hybrid Power Solutions Market - List of Tables:

Table 1.Hybrid Power Solutions Market, By System Type, 2014-2023, ($Million)
Table 2.Solar-diesel Market, By Region, 2014-2023, ($Million)
Table 3.Wind-diesel Market, By Region, 2014-2023, ($Million),
Table 4.Solar-Wind-diesel Market, By Region, 2014-2023, ($Million)
Table 5.Other System Types Market, By Region, 2014-2023, ($Million)
Table 6.Hybrid Power Solutions Market, By Power Rating, ($Million), 2014-2023
Table 7.Up to 10kW Market, By Region, 2014-2023, ($Million)
Table 8.11kW - 100kW Market, By Region, 2014-2023, ($Million)
...

Hybrid Power Solutions Market - List of Figures:

Figure 1.Hybrid Power Solutions Market Share, By System Type, 2012 & 2022
Figure 2.Hybrid Power Solutions Market, By Power Rating, 2012 & 2022, ($Million)
Figure 3.Hybrid Power Solutions Market, By End User, 2012 & 2022, ($Million)
Figure 4.Hybrid Power Solutions Market, By Region, 2012 & 2022, ($Million)
Figure 5.Siemens AG: Net Revenues, 2014-2016 ($Million)
Figure 6.Siemens AG: Net Revenue Share, By Segment, 2016
Figure 7.Siemens AG: Net Revenue Share, By Geography, 2016
Figure 8.SMA Solar Technology AG: Net Revenues, 2014-2016 ($Million)
Figure 9.SMA Solar Technology AG: Net Revenue Share, By Segment, 2016
...

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What our report offers:

- Market share assessments for the regional and country level segments

- Market share analysis of the top industry players

- Strategic recommendations for the new entrants

- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)

- Strategic recommendations in key business segments based on the market estimations

- Competitive landscaping mapping the key common trends.

- Company profiling with detailed strategies, financials, and recent developments

- Supply chain trends mapping the latest technological advancements

Continued…

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