China hybrid power solutions market to exhibit over 3% growth to 2024: Global Market Insights, Inc.

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

Selbyville, Delaware, Sept. 05, 2019 (GLOBE NEWSWIRE) --

The hybrid power solutions market share growth over the forecast timeframe will be driven by growing need for reliable and uninterruptible power supply coupled with expansion of electricity supply to off-grid locations. Increasing focus towards grid integration for renewable energy along with escalating demand for decentralized power generation systems will augment the industry trends over the forecast timeframe.

Favorable emission norms to promote the adoption of clean energy technologies and reduce carbon footprints will boost the deployment of hybrid power generation technologies. Declining manufacturing costs of solar panels, as well as surging production capacities for wind turbines and wind blades due to technological advances and economy of scale will offer strong revenue potential to hybrid power solutions market players.

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Standalone hybrid power solutions industry is projected to exhibit robust growth on account of rising demand for safe, reliable and continuous power supply across remote off-grid areas. Increased focus towards adoption of renewable energy, the need to enhance grid stability, and favorable low installation costs are some of the key parameters that make standalone systems a viable option in rural power networks.

Grid connected hybrid power solutions market will amass substantial gains over the analysis period owing to growing demand for backup power supply in cities and the ability to offset utility bills. Ease of installation, grid stabilization potential, high capacity generation and efficient capacity utilization are the prominent factors that will stimulate the installation of hybrid on grid systems.

Increasing demand for efficient and reliable power supply across remote locations with abundant potential for solar and wind energy will positively impact the industry outlook. Favorable government initiatives to promote the use of sustainable technologies will accelerate the adoption of renewable energy systems, propelling the business growth for providers of power equipment.

Solar wind diesel hybrid power solutions market is estimated to surpass 200 MW of cumulative installation capacity by 2024.

Hiking prices of petroleum products coupled with growing focus towards deployment of low emission power generation systems will expand the scope for fully renewable solutions. Introduction of innovative and cost-effective power solutions will transform the industry prospects. Solar-wind hybrid power solutions industry will witness unprecedented growth in the coming years owing to rising need for continuous and sustainable electricity supply for residential and commercial applications.

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Rising investments towards the installation of sustainable systems to meet global power demand will stimulate the energy and utility sector growth over the analysis period. Residential hybrid power solutions market size will witness steady progress owing to ongoing electrification initiatives across emerging countries.

Hybrid power solutions market share from commercial applications is projected to register a robust 8% CAGR over 2018-2024.

Rapid advances in technology across North America in conjunction with growing demand for continuous electricity supply will boost hybrid technology penetration across the region. U.S. hybrid power solutions market is expected to grow exponentially due to rising awareness towards utilization of sustainable energy and increasing adoption of standalone systems across residential establishments.

Increasing government focus towards implementation of sustainable and efficient power generation systems and upgradation of existing grids to achieve green energy economy structure will complement the industry outlook.

China hybrid power solutions market is estimated to register a CAGR of over 3% by 2024.

Increasing investments towards the deployment of clean energy solutions to minimize carbon footprints coupled with the need to overcome the ever-growing power demand will bolster efforts to build large solar and wind farms. Abundance of solar and wind energy sources along with favorable government norms to promote adoption of renewable power will augment hybrid power solutions market scope in the region.

Browse key industry insights spread across 400 pages with 830 market data tables & 31 figures & charts from the report, “Hybrid Power Solutions Market By Technology (Solar-Wind-Diesel {Residential, Commercial, Industrial}, Solar-Wind {Residential, Commercial, Industrial}, Solar-Diesel {Residential, Commercial, Industrial}, Wind-Diesel {Residential, Commercial, Industrial}, Others {Residential, Commercial, Industrial}), Product (Standalone, Grid Connected), End Use (Residential, Commercial, Industrial), Regional Outlook, Price Trends, Competitive Market Share & Forecast 2024” in detail along with the table of contents:

Table of Contents (ToC) of the report:

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

3.4.1 General Electric

3.4.2 Enel Green Power

3.4.3 Genesys LLC

3.4.4 Mpower

3.5 Regulatory landscape

3.5.1 Asia Pacific India Australia China

3.5.2 North America U.S.

3.5.3 Europe UK

3.5.4 Middle East & Africa South Africa

3.5.5 Latin America Chile

3.6 Industry impact forces

3.6.1 Growth drivers Growing electricity demand Favorable government initiatives Increasing off-grid electricity demand Growing investments in rural electrification Increasing demand for clean energy Renewable Energy Targets

3.6.2 Industry pitfalls and challenges High initial investment Lack of awareness

3.7 Price trend analysis, by component

3.7.1 Solar Module

3.7.2 Battery

3.7.3 Small Wind Turbine

3.8 Growth potential analysis

3.9 Porter’s Analysis

3.10 Competitive landscape, 2017

3.10.1 Strategy dashboard Siemens AG Vestas Acquisitions Strategic business initiatives and projects GE Acquisitions Strategic business initiatives and projects

3.11 PESTEL Analysis

Browse Complete Table of Contents (ToC) @

About Global Market Insights

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology. 


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