Press release
Hybrid Power Systems Market to Witness Huge Growth by 2026| Wärtsilä, SMA Solar Technology AG, Silver Power Systems Ltd., Husk Power Systems,
Hybrid Power Systems Market
Market Analysis: Global Hybrid Power Systems Market
hybrid power systems market is expected to rise to an estimated value of USD 993.16 million by 2026, registering a substantial CAGR in the forecast period of 2019-2026. Hybrid power systems are designed in such a way that they combine the power of two or more energy sources, such as solar-diesel reducing the burning of diesel resulting in lower harmful gases emissions, providing great effectiveness, at minimal cost. Most of the hybrid power systems use the power of the sun (solar energy) and wind to generate energy.
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Competitive Analysis: Hybrid Power Systems Market Siemens, SMA Solar Technology AG, Alpha Tech Energy Solutions India Pvt Ltd, ZTE Corporation., Mitsubishi Hitachi Power Systems, Ltd., Wärtsilä, Voith GmbH & Co. KGaA, SOWITEC group GmbH, Silver Power Systems Ltd., Flexenclosure AB (publ)., Emerson Electric Co., Shanghai Ghrepower Green Energy Co., Ltd., PFISTERER Holding AG, Vergnet, Husk Power Systems, Firefly Hybrid Power Limited, Eltek, GENERAL ELECTRIC, Huawei Technologies Co., Ltd., Danvest Holding A/S, Bharat Light & Power Private Limited, Unitron Energy, ENGIE Eps - Electro Power Systems S.A. among others.
Market Drivers:
Rising need for electrification across the globe stimulates the demand for this market
The rising levels of pollution and the urgent need to limit the emissions of greenhouse gases
Fossil fuels including coal and crude oil are now becoming extinct; hence there is an urgent need for alternate power sources
Technological advancements and innovations in hybrid power system
Increasing government policies to promote the use of hybrid power systems as an alternative to diesel, coal, crude oil for power generation
Market Restraints:
High installation cost and investments are required to set up a hybrid power system, which hampers the growth of this market
Variations in prices of natural gas and oil are factors that may restrain the growth of the target market
Key Insights in the report:
Complete and distinct analysis of the market drivers and restraints
Key market players involved in this industry
Detailed analysis of the market segmentation
Competitive analysis of the key players involved
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The titled segments and sub-section of the market are illuminated below:
By Type
Solar-Diesel
Wind-Solar-Diesel
Solar-Wind-Diesel
Others
By Power Rating
Up to 10kw
11kw-100kw
Above 100 Kw
By End User
Residential
Commercial
Industrial
Rural Facility Electrification
Telecom
Others
Market segment by Regions/Countries, this report covers
North America,
South America,
Europe,
Asia-Pacific,
Middle East and Africa
Key Developments in the Market:
In April 2019, SOWITEC group GmbH announced that they had agreed with Vestas to acquire 25% share in the company with Vestas having the option to acquire the remaining share within three years. This acquisition/partnership will enable both the organisations to develop sustainable sources of renewable energy and advance their capabilities in hybrid power solutions.
In October 2018, Voith Hydro Holding GmbH & Co. KG and the Siemens Energy Management Division plan on working together, by collaborating in projects concerning hybrid power, and also on those projects of hydropower. This collaboration is done to ensure the sustainable development, and in order to promote clean renewable energy power sources across the globe. With this collaboration, the demand for hybrid power systems would rise significantly, making an essential contribution to a stable power supply and thereby towards economic and social development.
Table of Content:
Chapter One: Global Hybrid Power Systems Industry Market Research Report
Chapter Two: Industry Chain Analysis
Chapter Three: Global Hybrid Power Systems Market, by Type
Chapter Four: Hybrid Power Systems Market, by Application
Chapter Five: Global Hybrid Power Systems Production, Value ($) by Region (2020-2027)
Chapter Six: Global Hybrid Power Systems Production, Consumption, Export, Import by Regions (2020-2027)
ToC.............More......
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