Solar Wind Hybrid Systems Market: Global Trends, Market Share, Industry Size, Growth, Opportunities and Market Forecast - 2019 to 2025

There is no foreseen future without energy. In fact, the dependency on energy is escalating with each new addition to world's population and urbanization. In this scenario, it becomes imperative to develop and encourage the use of renewable sources of energy and in the recent past, several new technologies have emerged that promise to revolutionize the concept of renewable energy. Wind and solar are two of the basic sources of renewable energy production and a hybrid system combining these two is quickly gaining adoption across the world. Not only reliability is enhanced via solar and wind hybrid system, the size of battery storage can be significantly reduced which makes logistics more feasible.

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The major players that contribute to the growth of the Solar Wind Hybrid Systems market include - UNITRON Energy System Pvt. Ltd, ReGen Powertech, Alternate Energy Company, Blue Pacific Solar Product, Inc., Polar Power, Inc, Zenith Solar System, Alpha Windmills, Gamesa, Supernova Technologies Private Limited, and Grupo Dragon are some of the key companies operating in the global solar wind hybrid system market.

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The global solar wind hybrid systems market is fragmented into type, power rating, and application. Based on type, the global solar wind hybrid systems market includes stand-alone system and on-grid system. In 2018, the stand-alone solar wind hybrid systems registered the fastest growth rate in the market and accounted for the largest market share. By power rating, the global solar wind hybrid systems market is categorized into up to 10kW, 11 kW-100 kW, and above 100 kW. The application segment of the global solar wind hybrid systems market comprises residential, commercial, and industrial. The residential segment is anticipated to hold a significant share of the global solar wind hybrid systems market over the forecast period. Residential solar wind hybrid systems have witnessed significant adoption in the residential sector in the last few years, which includes single-family homes, luxury apartments, and large multi-family buildings.

Segment by Type

o Standalone
o Grid connected

Segment by Application

o Residential
o Commercial
o Industrial

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