Hybrid Power Solutions Market Insights with statistics and Growth Prediction

The global hybrid power solutions market is projected to grow at a CAGR of 8.1% from 2016 to 2021. The Middle East & Africa region is estimated to be the largest market, followed by Asia-Pacific; the trend is expected to continue till 2021. The growth of the hybrid power solutions market is driven by growth in hybrid power generation in off-grid sites; reliable power generation with minimized fuel, reduced operation, and maintenance cost; and reduction in carbon emission.

Browse 68 Market Data Tables and 47 Figures spread through 131 Pages and in-depth TOC on"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"

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The hybrid power solutions market is dominated by a few global players. Some of the key players operating in the hybrid power solutions market are 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.

Key strategies adopted by players in the hybrid power solutions market include contracts & agreements, new product developments/launches, mergers & acquisitions, partnerships, joint ventures, collaborations, and expansions. Contracts & agreements was the most commonly used strategy, constituting 65% of the total developments from 2013 to 2016. Industry players also widely adopted the strategy of new product developments/launches during the same period.

SMA Solar Technology AG is a subsidiary of the SMA Group. SMA provides innovative PV diesel hybrid solutions to meet the energy demand and supply efficient power to home, rural areas, and industries. The company is focusing on availing international growth opportunities, and hence, is continuously developing new photovoltaic products and enhancing its existing products. It has added many new hybrid power solutions to widen its product portfolio and provide solutions for both residential and commercial customers. SMA has installed PV diesel hybrid system in countries such as India, Lebanon, and Kingdom of Tonga. The company has huge opportunity in exploring Africa and the Middle East region for its PV diesel hybrid solutions, as these regions are the fastest growing markets for telecommunications. In late 2015, SMA America partnered with Farm from a Box to develop an off-grid toolkit for food production. The toolkit comprised 10 high-efficiency solar modules, an SMA Sunny Island 6048-US off-grid inverter, SMA Sunny Boy 3000TL-US inverter with Secure Power Supply, SMA Sunny Web Box remote monitoring solution, SMA Smart former transformer and distribution box, and deep-cycle batteries for energy storage. The array is supported by a 3,000-watt generator.

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Siemens AG provides hybrid power solutions as a part of renewable energy under its energy business vertical. The company provides technology-based solutions depending upon load and locally available renewable resources (wind or solar) and economical, reliable, and environmental energy. Siemens partnered with other hybrid solutions provider such as Danvest, which would help the company to explore more markets and industries. Recent partnership with Danvest helped Siemens to explore the mining industry market which is a potential market for hybrid power solutions. The company’s "one stop shop" would help clients to meet their energy requirements. In 2015, Siemens partnered with Danvest Energy and Eurus Energy to provide hybrid power solutions to the Australian mining industry. This project was worth USD 300 million and generated 30 MW power for mine sites.

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