Investing in emerging economies and setting up
hybrid power systems and rural electrification programs in the remote
areas of Asia Pacific and the Middle East and Africa are key growth
strategies for players in the hybrid power systems market, observes
Transparency Market Research (TMR). For instance, Borg Energy
invested a heavy sum in India in January 2014 in several projects
centered on rural electrification and engineering, procurement, and
construction (EPC). Likewise, Guangzhou HY Energy Technology Limited
Corp., in 2011, supplied a wind-solar hybrid street light system in
Tabriz, Iran and in 2012, installed a number of wind-solar hybrid
systems for a telecom station in Mongolia.
“New product development and innovation is also
an effective strategy adopted by a number of players,” a TMR
analyst states. The hybrid power systems market is extremely inviting
to new players despite the high initial investment required to
manufacture as well as assemble these systems. Thanks to government
and other regulatory institution clearances and the provision of
various subsidies, the competitive landscape of the global hybrid
power systems market is likely to witness constant change over the
coming years.
This 120 page report gives
readers a comprehensive overview of the Hybrid Power Systems
market.Browse through 01 data
tables and 85 figures to unlock the hidden
opportunities in this market@
Increasing Focus on the Use of Energy-efficient
Technologies
One of the major
advantages presented by hybrid power systems, which is also a key
driving factor for the global market, is the ability of these systems
to reduce carbon emissions. “Controlling carbon footprint is among
the top priorities of most energy producing companies and factors
such as climate change and growing social responsibility have
contributed toward these companies focusing on using energy-efficient
technologies in their networks,” the author states.
In April 2016,
Vodafone Qatar announced its plans to roll out several hybrid power
systems across its sites in the country as part of its efforts to
reduce its carbon footprint and improve the company’s energy
efficiency measures.
On the down side,
however, high installation costs and initial investments deter
companies from the setting up of hybrid power systems. “Building
the infrastructure for hybrid power plant, especially
solar-wind-diesel systems, is immensely expensive,” a lead analyst
at TMR finds. “Moreover, these systems have a much longer return on
investment (ROI) period compared to conventional sources of energy.”
This threatens to hamper the growth of the hybrid power systems
market.
TMR Predicts Surge in Upcoming Hybrid Power
Projects
The global revenue
generated by the hybrid power systems market is anticipated to rise
from US$411.7 mn in 2015 to US$703.5 mn by 2024 at a 6.1% CAGR
therein. By type, wind-solar-diesel hybrid power systems held the
dominant share of over 45% in 2014 and this segment is likely to
retain its lead throughout the forecast period. The others segment,
comprising wind-hydro-diesel hybrid, solar thermal, and hybrid-solar
biomass, is projected to expand at the fastest pace from 2016 to
2024.
Get accurate market forecast and analysis on
the Hybrid Power Systems market. Request a sample to stay abreast on
the key trends impacting this market@
Only a fraction of companies in the renewable
power industry are presently involved in the generation of power via
hybrid power systems for rural electrification,” the analyst
states. “However, an increasing number of upcoming power projects
across the globe is likely to spur the demand for hybrid power
systems.”
This review is based on the findings of a TMR
report titled “Hybrid Power Systems Market: Global Industry
Analysis, Size, Share, Growth, Trends, and Forecast 2016-2024.”
Global Hybrid Power Systems Market: Type
Analysis
- Wind-Solar-Diesel-Hybrid
- PV-Diesel-Hybrid
- Others
Global Hybrid Power Systems Market: End-Use
Analysis
- Residential
- Rural Facility Electrification
- Others
Global Hybrid Power Systems Market:
Regional Segment Analysis
North America
- U.S.
- Canada
- Mexico
Europe
- Turkey
- Kazakhstan
- Russia
- Rest of Europe
Asia Pacific
- China
- Japan
- Australia
- Indonesia
- Rest of Asia Pacific
Middle East and Africa (MEA)
- South Africa
- Tanzania
- Egypt
- UAE
- Rest of MEA
South and Central America (SCA)
- Brazil
- Chile
- Rest of SCA
About
Us
Transparency Market Research (TMR) is a global market intelligence
company providing business information reports and services. The
company’s exclusive blend of quantitative forecasting and trend
analysis provides forward-looking insight for thousands of decision
makers. TMR’s experienced team of analysts, researchers, and
consultants use proprietary data sources and various tools and
techniques to gather and analyze information.
TMR’s data repository is continuously updated and revised by a team
of research experts so that it always reflects the latest trends and
information. With extensive research and analysis capabilities,
Transparency Market Research employs rigorous primary and secondary
research techniques to develop distinctive data sets and research
material for business reports.
Contact
Us
Transparency Market Research
90 State Street, Suite 700
Albany, NY 12207
Tel: +1-518-618-1030
USA - Canada Toll Free: 866-552-3453
No comments:
Post a Comment