The report “Hybrid Power Solutions Market by System Type (Solar-Diesel, Wind-Diesel, Solar-Wind-Diesel), Power Rating (Upto 10 kW, 11 kW–100 kW, and Above 100 kW), End-User (Residential, Commercial, Telecom), and Region – Global Forecast to 2021″, The hybrid power solutions market is expected to grow from an estimated USD 466.5 Million in 2016 to USD 689.5 Million by 2021, registering a CAGR of 8.1% from 2016 to 2021. The global market is witnessing significant growth due to growth in hybrid power generation in off-grid sites, reliable power generation with minimized fuel, reduced operation and maintenance cost, and reduction in carbon emission.
Browse 68 Market Data Tables and 47 Figures spread through 131 Pages and in-depth TOC on”Hybrid Power Solutions Market – Global Forecast to 2021”
Solar-diesel segment is expected to hold the largest share of the hybrid power solutions market, by system type, during the forecast period
The solar-diesel segment led the overall hybrid power solutions market in 2015. Solar-diesel systems are applicable in all types of end-users: residential, commercial, and industries like telecom, mining, and oil & gas among others. Increased applications of off-grid renewable power systems is driving the market of solar-diesel hybrid power solutions, which are being proposed at a large scale in Asia-Pacific and Africa.
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Commercial end-users are expected to hold the largest market share of the hybrid power solutions market, by end-users, during the forecast period
The commercial segment is expected to hold the largest share in the hybrid power solutions market during the forecast period. Commercial sector include hotels, resorts, schools, or hospitals located at islands or off-grid areas, which do not have grid power supply and are highly dependent on diesel generators for their power requirements. Dependence on diesel and fuel availability is a concern factor which may affect power supply in crucial moments: this creates huge opportunity for implementing hybrid power solutions in commercial sector.
The Middle East & Africa is the largest market for hybrid power solutions
In this report, the hybrid power solutions market has been analyzed with respect to four regions, namely, the Americas, Europe, Asia-Pacific, and the Middle East & Africa. The Middle East & Africa is estimated to be the largest market for hybrid power solutions till 2021. African countries have lowest electrification rate in the world, which provides a huge opportunity to implement hybrid power solutions at large scale.
Major Market Developments
• In November 2016, Flexenclosure launched maintenance free hybrid power system eSite x10 for telecom industry.
• In December 2015, Electro Power Systems acquired Elvi Energy (Italy) to become market leader in integrated storage system.
• In October 2015, SMA America partnered with Farm from a Box to develop an off-grid toolkit for food production. Toolkit comprised 10 high-efficiency solar modules, an SMA Sunny Island 6048-US off-grid inverter, SMA Sunny Boy 3000TL-US inverter with Secure Power Supply, SMA Sunny Web Box remote monitoring solution, SMA Smart former transformer and distribution box, and deep-cycle batteries for energy storage. The array is supported by a 3,000-watt generator.
• Hybrid power solutions providers
• Solar PV panels and wind turbines manufacturers
• Battery storage manufacturers
• Regional renewable energy associations
• Government organizations and research institutions
• Consulting companies in the energy & solar sector
• Solar and wind energy associations
• Environmental associations
• Investment banks
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To enable an in-depth understanding of the competitive landscape, the report includes profiles of some of the leading players in the hybrid power solutions market. These players include SMA Solar Technology AG (Germany), Siemens AG (Germany), Huawei Technologies Co., LTD (China), ZTE Corporation (China), Flexenclosure AB, LTD (Sweden), and Heliocentris Energy Solutions AG (Germany) among others. Leading players are trying to penetrate the markets in rural areas of developing economies and are adopting various strategies to increase their market share.