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Hybrid Power Solutions Market Size
- Report ID: GMI2552
- Published Date: Jul 2018
- Report Format: PDF
Hybrid Power Solutions Market Size
Hybrid Power Solutions Market size crossed USD 8 billion in 2017 and is expected to exceed cumulative capacity of 9 GW by 2024.
Rising need for reliable and continuous electricity supply accompanied by increasing power demand across remote areas will stimulate the hybrid power solutions market growth. Favourable regulatory norms including leverage schemes, subsidies and feed-in-tariffs to encourage the adoption of sustainable energy technologies will fuel the business dynamics. Disparity concerning demand & supply particularly across developing economies along with escalating awareness pertaining to inefficient grid infrastructure will stimulate the industry growth According to IEA, in 2018, the overall electricity demand has witnessed an increase of 4% when compared to 2010.
| Report Attribute | Details |
|---|---|
| Base Year: | 2017 |
| Hybrid Power Solutions Market Size in 2017: | 8 Billion (USD) |
| Forecast Period: | 2018 to 2024 |
| Forecast Period 2018 to 2024 CAGR: | 34% |
| 2024 Value Projection: | 60 Billion (USD) |
| Historical Data for: | 2013 to 2017 |
| No. of Pages: | 400 |
| Tables, Charts & Figures: | 861 |
| Segments covered: | Technology, Product, End Use and Region |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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Establishing focus to the development of decentralized energy generation along with growing inclination toward the clean energy technologies will impact the industry outlook. Rising investments from several financial institutions including International Finance Corporation and regional development banks toward integration of sustainable energy sources will positively influence the business landscape. Furthermore, surging energy consumption across emerging economies favoured by significant government efforts to curtail carbon emissions in anticipated to enhance the product adoption.
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Hybrid Power Solutions Market Scope
