Hybrid Power Solutions Market Growing At A CAGR Of 8.1% During 2016 To 2021

The hybrid power solutions market is projected to reach USD 689.5 million by 2021, growing at a CAGR of 8.1% from 2016 to 2021 while the solar-diesel segment is expected to grow at the fastest CAGR from 2016 to 2021.

Hybrid power solutions are used in residential, commercial, telecom and other industries. Growth in hybrid power generation in off-grid sites, reliable power generation with minimized fuel, and reduced operation and maintenance cost, and reduction in carbon emission are expected to drive the hybrid power solutions market. On the other hand, higher initial investment and higher payback time period are the major restraints of the global hybrid power solutions market.

Complete report on global hybrid power solutions market spread across 131 pages, profiling 13 companies and supported with 68 tables and 47 figures is now available at http://www.rnrmarketresearch.com/hybrid-power-solutions-market-by-system-type-solar-diesel-wind-diesel-solar-wind-diesel-power-rating-upto-10-kw-11-kw-100-kw-and-above-100-kw-end-user-residential-commercial-telecom-and-region-glo-st-to-2021-market-report.html .

With regard to system type, the solar-diesel segment is estimated to grow at the fastest CAGR. Solar-diesel based hybrid power solutions has maximum share in total hybrid power solutions market. Solar energy is available in abundance as compared to other renewable sources of energy that helps solar-diesel hybrid segment to capture most of the market share. In coming years, with declining solar module, inverter, and overall solar systems prices, off-grid solar-diesel hybrid power solutions are expected to gain momentum.

The leading players in the hybrid power solutions market include SMA Solar Technology AG (Germany), Siemens AG (Germany), Huawei Technologies Co., LTD (China), ZTE Corporation (China), Flexenclosure AB, LTD (Sweden), and Heliocentris Energy Solutions AG (Germany) among others. Request a discount on a copy of Hybrid Power Solutions Market by System Type (Solar-Diesel, Wind-Diesel, Solar-Wind-Diesel), Power Rating (Upto 10 kW, 11 kW–100 kW, and Above 100 kW), End-User (Residential, Commercial, Telecom), and Region - Global Forecast to 2021 research report at http://www.rnrmarketresearch.com/contacts/discount?rname=846359 .

The Middle East &Africa is expected to be the largest market for hybrid power solutions, with Nigeria being the biggest markets in the region. It is estimated to dominate the global market during the forecast period, as they are best suited for off-grid sites like islands or telecom towers located in off-grid areas. Asia-Pacific, on the other hand, is expected to be the second fastest growing market for hybrid power solutions. This is due to promotions by governments and private developers, and switching to eco-friendly power generation sources due to increasing carbon emissions and high fuel expenditure.

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