Global Hybrid Power Solutions Market to Amount to USD 689.5 Mln by 2021, According to New M&M Report Available at MarketPublishers.com
10 Feb 2017 • by Natalie Aster
LONDON – Driven by an array of forces like rising hybrid power generation in off-grid sites, lower operation and maintenance costs, decreased carbon footprints, reliable power generation with minimized fuel, among others, the global market for hybrid power solutions is predicted to follow on the upward trend in the short run. The market value is likely to amount to over USD 689 million by the year 2021, registering a healthy CAGR of 8.1% during 2017-2021. However, the market further growth could be significantly restrained by such factors as higher payback time period and higher initial investment.
On the basis of system types, the solar-diesel segment is set to rise at the fastest rate through 2021. This sector captures the lion’s share of the overall market, majorly due to abundance of solar energy. Through 2021, off-grid solar-diesel hybrid power solutions are anticipated to be on the rise owing to a slump in prices for solar systems, solar modules and inverters.
Regionally, the Middle East & Africa is set to be an unrivalled leader in the world’s hybrid power solutions market. Nigeria is the number one player in the region. The APAC hybrid power solutions market is predicted to be the second fastest growing regional market through 2021.
The world’s hybrid power solutions market is presented by such giants as Siemens AG, ZTE Corporation, SMA Solar Technology AG, Huawei Technologies, to name only a few.
New comprehensive research report “Hybrid Power Solutions Market by System Type, Power Rating, End-User, and Region - Global Forecast to 2021” created by M&M draws a detailed picture of the current scenario in the world hybrid power solutions market as well as sheds light on the performance of the major geographical markets. The publication casts light on the market size, uncovers revenue numbers, examines the market growth prospects. Also, the study provides competitive landscape analysis and comprises detailed profiles of the key market participants. It also comprises SWOT analysis, a review of the latest developments and data on the main market strategies. The market dynamics including growth drivers, restraints, challenges and opportunities are also examined in this insightful report. Additionally, future forecasts through 2021 are provided.
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