Press release
Hybrid Solar Wind Market size is expected to reach USD 1.47 billion by 2024, according to a new research report by Global Market Insights, Inc
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Growing demand for reliable electricity coupled with strict government norms to reduce carbon footprints will further compliment the industry outlook. Developed nations led by the U.S. has introduced various initiatives to promote energy conservation and reduce greenhouse emissions.
Hybrid Solar Wind market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD million and volume in MW from 2013 to 2024, for the following segments:
Global Hybrid Solar Wind Market by Product
• Standalone
• Grid Connected
Global Hybrid Solar Wind Market by End Use
• Residential
• Commercial
• Industrial
High initial costs and lack of awareness may restrain industry demand over the next few years. Grid connected hybrid solar wind market size was valued over USD 190 million in 2015 and is predicted to grow at over 10% by 2024. Low installation cost, feed in tariff and net metering are some of the advantages offered by grid connected system.
Key insights from the report include:
U.S. hybrid solar wind market size was valued at USD195 million in 2015 and is estimated to reach over USD 300 million by 2024.Government incentives such as tax rebate and increasing emphasis on renewable energy have encouraged regional industry growth.
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India is set to exceed 30MW in installation by 2024 and is estimated to grow at over 20% CAGR during forecast period. Government initiatives toward rural electrification and initiatives to promote sustainable energy will drive the hybrid solar wind market size.
South Africa hybrid solar wind market share was valued at 6MW, which will translate to over USD 12 million revenue through to the forecast timeline. Nigeria hybrid solar wind market size was 0.17 MW in 2015 and in terms of revenue, is estimated to witness gain over 16% from 2016 to 2024. Increasing off grid electricity demand will stimulate industry growth in future.
Australia hybrid solar wind market size was over 1 MW in 2015 and is expected to reach over 40 MW by 2024.Increasing investment trend in renewable energy may favor the industry growth. In March 2016, Australian government funded USD 1 billion which will provide equity and debt for clean energy technology.
Browse key industry insights spread across 108 pages with 225 market data tables & 14 figures & charts from the report @ https://www.gminsights.com/industry-analysis/hybrid-solar-wind-market
Major participants in the industry are Grupo Dragon, ReGen Powertech, Polar Power, Inc, Supernova Technologies Private Limited, Blue Pacific Solar Product, Gamesa, UNITRON, Zenith System, Alternate Energy Company, Alpha Windmills.
The research process begins with extensive data mining, using authentic sources such as trade magazines, technical publications, independent studies along with paid avenues such as ICIS, Hoovers, etc. Primary objectives of data mining include:
Definition and scope of research
Market dynamics, growth drivers and industry pitfalls
Regulatory and political guidelines for the industry
Demographics and statistical data
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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Global Market Insights, Inc.
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