Hybrid Power Solutions Market Outlook and Forecast 2014 – 2025
The global hybrid power solutions market is expected to be valued at USD 1.35 billion by 2025, according to a new report by Radiant Insights, Inc. Hybrid power solutions are increasingly used owing to advantages such as less fuel consumption and low electrification rates.
Download Sample Report @ https://www.radiantinsights.com/research/hybrid-power-solutions-market/request-sample
Hybrid power solution systems incorporate more than one type of power source and designed for the generation of centralized electricity grid. They are used to provide energy to many remote areas in developing countries such as India. In addition, the system possesses an ability to offset disadvantages such as fuel flexibility, CO2 emissions, and reliability. The systems are manufactured to achieve desired attributes at lower cost and maximum efficiency, which in turn is expected to fuel the market growth over the forecast period.
Solar-diesel system type was the largest segment in 2016 and valued at USD 216.1 million. The solar energy and diesel hybrid systems provide energy by using solar irradiance, which is both free & abundant. These systems can be used in various industrial applications such as road lighting and fishing boats. In comparison to gensets systems, solar-diesel provide numerous advantages as they have the capability to minimize CO2 emissions and also reduce the risks associated with increasing fuel prices.
Several companies in the U.S., such as Bergey Wind Power Company (BWC); Integrated Power Corporation (IPC); and New World Power Corporation (NWPC), are investing heavily in the product and market development activities, which includes the development of equipment necessary for providing electricity to remote areas. In a bid to lure more customers, companies are focusing on novel product development.
Browse Full Research Report with TOC @ https://www.radiantinsights.com/research/hybrid-power-solutions-market
Further Key Findings From the Report Suggest:
• The global hybrid power solutions market was valued at USD 1,352.4 million by 2025 and is estimated to denote a CAGR of 9.5% from 2017 to 2025
• The global demand for wind-diesel system type was valued at USD 180.4 million in 2016. The segment is anticipated to record steady growth over the next 8 years.
• Commercial sector is anticipated to be the fastest-growing segment, by end use, ascending at a CAGR of 9.9% over the next 8 years
• The Middle East and Africa is anticipated to progress at a CAGR of 9.6% over the forecast period. Growing government initiatives toward power generation through renewable sources are expected to boost the demand for solutions in the coming years.
• Key players of the market include Siemens AG; SMA Solar Technologies AG; Danvest Energy A/S; Alpha Power Solutions; and PFISTERER Holding AG. These players often engage in the research & development activities in order to expand their product portfolios and gain larger market shares.
Explore all Report of this category @ https://www.radiantinsights.com/catalog/energy
About Radiant Insights
Radiant Insights is a platform for companies looking to meet their market research and business intelligence requirements. It assists and facilitate organizations and individuals procure market research reports, helping them in the decisions making process. The Organization has a comprehensive collection of reports, covering over 40 key industries and a host of micro markets. In addition to over extensive database of reports, experienced research coordinators also offer a host of ancillary services such as, research partnerships/ tie-ups and customized research solutions.
Company Name: Radiant Insights, Inc
Contact Person: Michelle Thoras
visit our website: http://www.radiantinsights.com/
Phone: (415) 349-0054
Toll Free: 1-888-928-9744
Address: 201 Spear Street 1100, Suite 3036,
City: San Francisco
Country: United States