Declining Cost of Solar Power is driving the Hybrid Power Generation Market
Globally, the decline in the cost of solar power generation is a big boost for hybrid power generation market. The governments across the globe have focused on building solar power infrastructure to promote clean energy generation. The cost of solar power has declined by around 80% in the last eight years. As a result, the decline in price led by technological advancements and policy level support from governments across the globe has improved the economic viability of solar power.
Middle East & Africa to Dominate the Market Growth
The Middle East & Africa (MEA) region is expected to dominate the market owing to increasing demand for electricity in the region. In 2017, GreenWish Partners, a renewable energy company planned to make USD 800 million investment in existing mobile phone towers. Moreover, the development of telecom infrastructure is expected to play a massive role in the growth of hybrid power solutions market growth in the region. Furthermore, the lack of power infrastructure in African countries is likely to require the development of off-grid power generation facilities, which is expected to create substantial market opportunities for hybrid power solutions in the near future.
Key Developments in the Market
April 2018: India-based EPC contractor, Sterling Wilson, announced the launch of a new business unit which is expected to offer solutions for hybrid power plants using energy storage
March 2018: Wartsila, Finnish power engineering company, has successfully completed the largest solar hybrid power plant in the West African country, Burkina Faso
The major players include - Siemens AG, Eltek Power Systems AS, GE Renewable Energy, Huawei Technologies Co. Ltd., Danvest Holding A/S, Electro Power Systems SA, PowerOasis Limited, Heliocentris/AKT o.N., SMA Solar Technology AG, ZTE Corporation, among others.
Reasons to Purchase This Report
- Current and future hybrid power solutions market outlook in the developed and emerging markets
- Analyzing various perspectives of the market with the help of Porter’s five forces analysis
- The segment that is expected to dominate the market
- Regions that are expected to witness fastest growth during the forecast period
- Identify the latest developments, and strategies employed by the major market players
- 3-month analyst support, along with the Market Estimate sheet (in excel)
This report can be customized to meet your requirements. Please contact us for more information.
Note: This is an On Demand product, please allow 3-5 days for delivery after order is placed.
2. Research Methodology
2.1 Scope of the Report
2.2 Market Definition
2.3 Study Assumptions
2.4 Study Deliverables
2.5 Research Phases
3. Market Overview
3.2 Market Size and Demand Forecast until 2023
3.3 Recent Trends and Developments
3.4 Government Policies and Regulations
4. Market Dynamics
5. Supply Chain Analysis
6. Industry Attractiveness - Porter’s Five Force Analysis
6.1 Bargaining Power of Suppliers
6.2 Bargaining Power of Consumers
6.3 Threat of New Entrants
6.4 Threat of Substitutes
6.5 Intensity of Competitive Rivalry
7. Market Segmentation and Analysis (Overview, Market Size and Demand Forecast until 2023)
7.1 By Power Rating
7.1.1 Up to 10 kW
7.1.2 11 kW-100 kW
7.1.3 Above 100 kW
7.2 By Type
7.3 By End-user
8. Regional Market Analysis (Overview, Market Size and Demand Forecast until 2023)
8.1 North America
8.4 South America
8.5 Middle East & Africa
9. Key Company Analysis* (Overview, Products & Services, Financials**, Recent Development, and Analyst View)
9.1 Siemens AG
9.2 Eltek Power Systems AS
9.3 GE Renewable Energy
9.4 Huawei Technologies Co. Ltd.
9.5 Danvest Holding A/S
9.6 Electro Power Systems SA
9.7 PowerOasis Limited
9.8 Heliocentris/AKT o.N.
9.9 SMA Solar Technology AG
9.10 ZTE Corporation
10. Competitive Landscape
10.1 Mergers and Acquisitions
10.2 Joint Ventures, Collaborations, and Agreements
10.3 Strategies Adopted by Leading Players
11.1 Contact Us
*List not exhaustive
**Subject to availability on public domain
- Siemens AG
- Eltek Power Systems AS
- GE Renewable Energy
- Huawei Technologies Co. Ltd.
- Danvest Holding A/S
- Electro Power Systems SA
- PowerOasis Limited
- Heliocentris/AKT o.N.
- SMA Solar Technology AG
- ZTE Corporation