Selbyville, Delaware, March 16, 2021 (GLOBE NEWSWIRE) -- According to seasoned analysts, worldwide hybrid solar wind systems industry was worth USD 925 million in 2019 and is projected to exhibit a 7.2% CAGR during study period, subsequently reaching a remuneration of USD 1613 million by the year 2027.
The research literature bifurcates the marketplace into various segments, based on connectivity and end-user terrain. Insights about the market share, along with estimations reflecting the CAGRs of each segment are offered in the report. Proceeding further, it assesses the geographical scope, while evaluating the contribution of each region to the industry remuneration.
Furthermore, the document delivers an all-inclusive assessment of the top-tier organizations operating in this vertical and systematically presents the product & service portfolios of each participant, side-by-side assessing their expansion strategies.
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Growing environmental concerns, rising focus towards generation of renewable energy, and increasing investments towards deployment of smart grid infrastructure are augmenting global hybrid solar wind systems market size.
For the record, hybrid solar wind systems are formed by integration of windmill and solar energy panels to generate and retrieve electricity. They typically comprise of solar panels, small wind turbine generators, and an energy storage system. Environment-friendly nature of these systems, along with their ability to generate electricity throughout the year will continue to stimulate product demand in the forthcoming years.
Speaking of the restraining factors, lack of awareness regarding hybrid solar wind systems, coupled with high initial investment are expected to barricade business development throughout the analysis timeframe.
Outlining market segmentations
Based on connectivity, global hybrid solar wind systems industry is divided into stand-alone systems, and on-grid systems. While the end-user landscape of the industry vertical is categorized into industrial, commercial, and residential.
Regional outlook
Elaborating on the geographical reach, the overall market sphere is fragmented into Europe, Asia-Pacific, North America, Latin America, and rest of the world.
Among these, Asia-Pacific presently captures a majority portion of global hybrid solar wind systems market share and is touted to amass lucrative gains during 2020-2027. Increasing number of smart grid projects, escalating demand for renewable energy generation, and favorable government initiatives pertaining to clean energy production, predominantly in India and China are fostering the regional industry expansion.
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Competitive dashboard
Alpha Windmills, ReGen Powertech Pvt. Ltd., Blue Pacific Solar Products Inc., Gamesa Technology Corp., UNITRON Energy Systems Pvt. Ltd., Zenith Solar LLC, Alternate Energy Corp., Polar Power Inc., Supernova Technologies Pvt. Ltd., and Grupo Dragón are the key participants defining worldwide hybrid solar wind systems market trends.
Global Hybrid Solar Wind Systems Market by Connectivity (Revenue, USD Million, 2017-2027)
- Stand-Alone Systems
- On-Grid Systems
Global Hybrid Solar Wind Systems Market End-User Scope (Revenue, USD Million, 2017-2027)
- Industrial
- Commercial
- Residential
Global Hybrid Solar Wind Systems Market Regional Outlook (Revenue, USD Million, 2017-2027)
Asia-Pacific
- Australia
- India
- Japan
- South Korea
- China
- Rest of Asia-Pacific
Europe
- Italy
- United Kingdom
- France
- Spain
- Germany
- Rest of Europe
North America
- U.S.
- Canada
Latin America
- Mexico
- Brazil
Rest of the world
Global Hybrid Solar Wind Systems Market Competitive Landscape (Revenue, USD Million, 2017-2027)
- Alpha Windmills
- ReGen Powertech Pvt. Ltd.
- Blue Pacific Solar Products Inc.
- Gamesa Technology Corp.
- UNITRON Energy Systems Pvt. Ltd.
- Zenith Solar LLC
- Alternate Energy Corp.
- Polar Power Inc.
- Supernova Technologies Pvt. Ltd.
- Grupo Dragón
Table of Content:
Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2018-2027 (USD Million)
1.2.1. Hybrid Solar Wind Systems Market, by Region, 2018-2027 (USD Million)
1.2.2. Hybrid Solar Wind Systems Market, by Connectivity, 2018-2027 (USD Million)
1.2.3. Hybrid Solar Wind Systems Market, by End-Use, 2018-2027 (USD Million)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Hybrid Solar Wind Systems Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Scope of the Study
2.2.2. Industry Evolution
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Hybrid Solar Wind Systems Market Dynamics
3.1. Hybrid Solar Wind Systems Market Impact Analysis (2018-2027)
3.1.1. Market Drivers
3.1.2. Market Challenges
3.1.3. Market Opportunities
Chapter 4. Global Hybrid Solar Wind Systems Market Industry Analysis
4.1. Porter's 5 Force Model
4.2. PEST Analysis
4.2.1. Political
4.2.2. Economical
4.2.3. Social
4.2.4. Technological
4.3. Investment Adoption Model
4.4. Analyst Recommendation & Conclusion
Chapter 5. Global Hybrid Solar Wind Systems Market, by Connectivity
5.1. Market Snapshot
5.2. Global Hybrid Solar Wind Systems Market by Connectivity, Performance - Potential Analysis
5.3. Global Hybrid Solar Wind Systems Market Estimates & Forecasts by Connectivity 2017-2027 (USD Million)
5.4. Hybrid Solar Wind Systems Market, Sub Segment Analysis
5.4.1. On-Grid System
5.4.2. Stand-Alone System
Chapter 6. Global Hybrid Solar Wind Systems Market, by End-Use
6.1. Market Snapshot
6.2. Global Hybrid Solar Wind Systems Market by End-Use, Performance - Potential Analysis
6.3. Global Hybrid Solar Wind Systems Market Estimates & Forecasts by End-Use 2017-2027 (USD Million)
6.4. Hybrid Solar Wind Systems Market, Sub Segment Analysis
6.4.1. Residential
6.4.2. Commercial
6.4.3. Industrial
Chapter 7. Global Hybrid Solar Wind Systems Market, Regional Analysis
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