According to a syndicated market research report by MarketsandMarkets, the hybrid power solutions market was valued at US$432 million in 2015 and is expected to grow at a CAGR of 8.1% from 2016 to 2021.
Growth in hybrid power generation in off-grid sites, reliable power generation with minimized fuel, reduced operation and maintenance cost, and a reduction in carbon emission are the major factors driving the hybrid power solutions market.
After arriving at the overall market size, the total market for the study is split into several segments and sub-segments, with primary factors based on company type, designation and region, conducted during the research study.
The study provides projections up through 2021 and defines the global hybrid power solutions market on the basis of system type, power rating, end user and region, with the following goals:
- To provide detailed information regarding the major factors influencing market growth (drivers, restraints, opportunities, and industry-specific challenges).
- To strategically analyze the hybrid power solutions market with respect to individual growth trends of manufacturers and service providers, their future expansions and contribution to the market.
- To forecast the growth of the hybrid power solutions market with respect to the main regions (Asia-Pacific, Europe, the Americas, the Middle East & Africa).
- To strategically profile key market players and comprehensively analyze their market shares and core competencies.
- To analyze market opportunities for stakeholders and provide details of competitive developments, such as contracts and agreements, mergers and acquisitions, expansions, new product development/launches, partnerships, joint ventures and collaborations in the global hybrid power solutions market.
The MarketsandMarkets report is available at this link.