Global Hybrid Solar Wind Market

Posted by Rupali Dagade on August 30th, 2019

Global Hybrid Solar Wind Market was valued 1 Bn in 2017 and estimated to reach US$ 2.5 Bn by 2026 in terms of revenue at CAGR of 12.14 % in the forecasting period.

Hybrid Solar Wind Market

Global hybrid solar wind market is segmented into product, end-use, and region. On the basis of product, market is segmented into stand-alone, grid connected. Based on end-use, market is divided into residential, commercial, industrial. Geographically market is spread by North America, Asia-Pacific, Europe, Latin America, Middle East & Africa.

Increasing demand for clean fuel off-grid electricity will boost the demand for Hybrid Solar Wind Market in the near future. As of 2015, over 1 billion people across the globe, i.e. 17% of the world population, have no or poor access to reliable electricity. Strict government norms to reduce the greenhouse gas emission coupled with initiatives toward energy conservation will help in driving the hybrid solar wind market in future. Favourable initiatives to promote renewable energy will further compliment the industry growth. Financial support, tax rebate, and other schemes are expected to promote sustainable energy further driving theHybrid Solar Wind Market size growth during the forecast period.

Hybrid Solar Wind Market is majorly segmented by the product, end-use, and region wise. Based on product segment standalone is expected to dominate the Hybrid Solar Wind Market in 2017 owing to its cost-effectiveness in a remote area when compared with the grid-connected power lines.

Under the end-use segment, residential held the highest Hybrid Solar Wind Market share in 2017 owing to electrification program in developing countries mainly focusing on decentralizing generation. Increasing demand for uninterrupted power supply sector will drive this industry growth.

North America held the highest Hybrid Solar Wind Market share in 2017 with the U.S. being a major contributor to the overall market growth. Increasing emphasis on renewable energy, government incentives and measures toward energy conservation will also favour the industry outlook. India hybrid solar wind market share is projected to witness substantial gains that are more than 21% in term of volume over forecast timeframe owing to the government laws boosting renewable energy resources.

Key player across the hybrid solar wind industry is ReGen Powertech, Blue Pacific Solar Product, Inc., and UNITRON Energy System Pvt. Ltd. The industry is highly fragmented, and price plays a crucial role in determining the business dominance. Major players across the industry are focusing on new product developments and M&A’s to gain a competitive advantage over others.

Scope of Global Hybrid Solar Wind Market:

Global Hybrid Solar Wind MarketBy Product:

• Standalone

• Grid-connected

Global Hybrid Solar Wind Market By End-Use:

• Residential

• Commercial

• Industrial

Global Hybrid Solar Wind Market By Geography:

• North America

• Europe

• Asia-Pacific

• Middle East & Africa

• Latin America

Key Players operating in the Hybrid Solar Wind Market:

• ReGen Powertech

• Blue Pacific Solar Product, Inc.

• UNITRON Energy System Pvt. Ltd

• Alternate Energy Company

• Polar Power, Inc

• Alpha Windmills

• Zenith Solar System

• Gamesa

• Supernova Technologies Private Limited

• Grupo Dragon

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