Press release
Hybrid Power Solutions Market Forecast by Key Players: General Electric, Wartsila, Gamesa, VONK, Polar Power, Vestas, Danvest, BWSC, Grupo Dragon, FlexGen, Sterling & Wilson, Blue Pacific Solar, A123 systems, Zenith Power Systems, Alpha Windmills, Windlab
Global Market Insights, Inc.
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Europe hybrid power solutions market: Unveiling the latest developments across UK
Europe is claimed to be one of the pioneers of renewable energy and boasts of an enviable pipeline of wind, solar, and hydropower projects. The region also stands to gain significant monetary benefits in hybrid power solutions market as well, primarily augmented by the immense contribution of UK. According to estimates, UK hybrid power solutions market is slated to witness 5% CAGR over 2018-2024. The renewable energy directive 2009/28/EC has undoubtedly triggered new growth opportunities for the business space, with increasing deployment of microgrids, two-way power flows, and digital analytics. Incidentally, this has also prompted leading market giants to commercialize innovative solutions in the regional market that could potentially maintain the grid stability.
• In the year before last, Swedish power giant Vattenfall, commenced its construction project as a part of its first solar project in the . Located on the site of a signature Vattenfall’s windfarm in Wales that has been operational for near about 14 years, this Parc Cynog Solar Farm of 4.99MW is marked as a breakthrough project in UK hybrid power solutions industry. If reports are to be relied on, this is a part of a pilot project by the company, as it seeks to maximize the renewable energy generation potential from its existing sites in UK.
• The year 2016 has proved to be a roller coaster of sorts for UK hybrid solar power solutions industry. Just few months after Vattenfall made its way to the headlines, Ecotricity, another formidable player in hybrid power solutions market, won approval for its new hybrid renewable energy project in Britain. Reportedly, the green signal to its sun parks’ project in Devon and Dalby, gave Ecotricity a scope to expand its already existing portfolio in the lucrative business space. Sources also claimed that through this deal, the company even planned to generate 100 MW power from its solar-wind portfolio.
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Chapter 3 Hybrid Power Solutions Industry Insights
3.1 Industry segmentation
3.2 Industry landscape, 2013 – 2024
3.3 Industry ecosystem analysis
3.3.1 Vendor matrix
3.4 Innovation & sustainability
3.5 Regulatory landscape
3.5.1 U.S.
3.5.2 India
3.5.3 Europe
3.5.3.1 Germany
3.5.3.2 UK
3.5.4 Australia
3.5.5 China
3.5.6 South Africa
3.5.7 Chile
3.5.8 International hybrid grid standards
3.6 Industry impact forces
3.6.1 Growth drivers
3.6.1.1 Enhanced power quality and security of supply
3.6.1.2 Favourable government initiatives
3.6.1.3 Growing electricity demand
3.6.1.4 Positive outlook towards renewable energy
3.6.1.5 Increasing off-grid electricity demand
3.6.2 Industry pitfalls and challenges
3.6.2.1 High initial investment
3.7 Price trend analysis
3.7.1 Price trend analysis, by region
3.7.2 Price trend analysis, by technology
3.8 Growth potential analysis
3.9 Key customer requirements
3.9.1 Customer group requirements
3.10 Entry barriers
3.11 Key hybrid power generation projects
3.11.1 Upcoming projects
3.11.2 Executed projects
3.12 Degree of competition
3.12.1 North America
3.12.2 Europe
3.12.3 Asia Pacific
3.12.4 Middle East & Africa
3.12.5 Latin America
3.13 Porter’s Analysis
3.14 Competitive landscape, 2017
3.14.1 Strategy dashboard
3.14.1.1 SMA Solar Technologies
3.14.1.1.1 Mergers & Acquisitions
3.14.1.1.2 Diversification
3.14.1.1.3 Geographical expansion
3.14.1.2 Vestas
3.14.1.2.1 Mergers & Acquisitions
3.14.1.3 Sterling & Wilson
3.14.1.3.1 Diversification
3.14.1.4 Siemens
3.14.1.4.1 Diversification
3.14.1.5 AEG
3.14.1.5.1 Product launch
3.15 PESTEL Analysis
3.16 Renewable energy storage trends & outlook
Chapter 4 Hybrid Power Solutions Market, By Product
4.1 Hybrid power solutions market share by product, 2017 & 2024
4.2 Standalone
4.2.1 Global market from standalone, 2013 - 2024
4.2.2 Global market from standalone, by region, 2013 – 2024
4.3 Grid connected
4.3.1 Global market from grid connected, 2013 - 2024
4.3.2 Global market from grid connected, by region, 2013 – 2024
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The large-scale integration of multiple renewable resource in a single platform requires grid operation to be extremely fast, flexible and responsive. The contemporary innovations that hybrid power solutions industry is presently characterized by is majorly influenced by this particular rationale. Another economic factor that has boosted the market trend is the declining price trends of wind turbines manufacturing over the past few years. As per the reports, in 2016, the average nominal installation cost of a small wind turbine recorded around 7000 USD/kW – 7500 USD/kW. Also it has been reported that average cost of solar PV module witnessed a decline of almost 0.5% over 2013-2016. These aforementioned factors in tandem with tremendous technological advancements in renewable energy technology is certain to push hybrid power solutions industry to attain remarkable heights over the ensuing years. Global Market Insights, Inc. forecasts the overall business space to exceed a massive valuation of USD 60 billion by 2024.
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 methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
Contact Us:
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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