Hybrid Power Solutions Market Growth

Hybrid Power Solutions Market Size, Share, Trend & Growth Forecast to 2024

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The Hybrid Power Solutions market dynamics, forces, companies and trends have been determined after conducting a detailed study of the industry for this newly released research report now available with Market Study Report.

Hybrid Power Solutions Market share is predicted to surpass USD 60 billion by 2024. Growing focus toward grid integration for renewable sources will stimulate the hybrid power solutions market. Increasing penetration of renewable technologies along with ongoing adoption of sustainable solutions will foster the business landscape. In 2017, Vestas, Tesla and Windlab has initiated the backup support to Clean Energy Finance Corporation for the construction of Kennedy Energy Park which will be capable to generate 60 MW of electricity from hybrid solar wind technology.

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Paradigm shift towards decentralized power generation coupled with rising demand for environment friendly technology will complement the hybrid power solutions market share. Introduction of favorable regulatory norms including subsidies, leverage schemes and FIT?s will positively influence the product demand. In 2010, the government of India has initiated the promotion of hybrid power generation by facilitating a subsidy of USD 1,450 per kW to the community users.

 

U.S. hybrid power solutions market is projected to surpass the cumulative capacity of 900 MW by 2024. Increasing awareness toward standalone power generation units primarily for the consumption across residential establishments will foster the industry growth. Advancement in technology coupled with the growing need for uninterrupted power supply will complement the product penetration.

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Rising demand for clean fuel off grid electricity along with favorable regulatory measures to supply electricity to remote areas will foster the hybrid solar-wind power solutions market. Developers are significantly focusing toward the improvisation of capacity utilization factor along with shifting focus toward raising the dependency on effective and sustainable power generation.

China hybrid power solutions market  will grow over 3% by 2024. Introduction of targets to overcome the growing electricity demand along with government measures toward installation of renewable energy systems will positively impact the industry growth. Economies of scale and technology advancement resulting in significant decline in component cost for renewable power generation stations will further stimulate the industry outlook.

Eminent players serving the hybrid power solutions market includes Tesla Windlab, General Electric, Blue Pacific Solar, Gamesa Wartsila, Unitron Energy, Polar Power, Zenith Power Systems, Star Sight, VONK, Vestas, Grupo Dragon, Danvest, Alpha Windmills, BWSC, A123 systems, FlexGen, and Sterling & Wilson.

Table of Contents

Chapter 2   Executive Summary

2.1    Hybrid power solutions 360 degree synopsis, 2013 – 2024

2.1.1    Business trends

2.1.2    Technology trends

2.1.3    Product trends

2.1.4    End use trends

2.1.5    Regional trends

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

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