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Global Hybrid Power Systems Market 2019-2023 | Evolving Opportunities with General Electric Co. and Schneider Electric SE | Technavio

January 14, 2020 GMT
Global Hybrid Power Systems Market 2019-2023 | Evolving Opportunities with General Electric Co. and Schneider Electric SE | Technavio
Global Hybrid Power Systems Market 2019-2023 | Evolving Opportunities with General Electric Co. and Schneider Electric SE | Technavio

LONDON--(BUSINESS WIRE)--Jan 14, 2020--

The global hybrid power systems market is poised to grow by USD 231.14 million during 2019-2023, progressing at a CAGR of over 8% during the forecast period. Request Free Sample Pages

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Technavio has announced its latest market research report titled global hybrid power systems market 2019-2023. (Graphic: Business Wire)

Read the 143-page research report with TOC on “Hybrid Power Systems Market Analysis Report by Technology (Solar-diesel, Solar-wind-diesel, Wind-diesel, and Others), by End-users (Non-residential and Residential), by Geography (Americas, APAC, and EMEA), and Segment Forecasts, 2019-2023”.

https://www.technavio.com/report/hybrid-power-systems-market-industry-analysis

The increasing demand for clean energy sources and developments in battery energy storage systems (BESS) are factors anticipated to boost the growth of the market.

With the increasing demand for energy, the global CO2 emissions from the power sector in countries such as China, India, and the US are rising drastically. This adversely impacts health and impairs productivity. To address this issue, economies are adopting clean energy technologies, such as solar PV and wind. GHG emissions in the overall electrical grid can be minimized by adopting carbon-free power sources such as solar and wind power. However, constraints such as geographical location and weather conditions, negatively influence the efficiency or output of solar PV and wind power as standalone systems. When these systems are used in a combination as hybrid power systems, the mentioned challenges are mitigated. Hybrid power systems can produce power consistently. Thus, the increasing demand for clean energy sources is expected to drive market growth during the forecast period.

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Major Five Hybrid Power Systems Market Companies:

General Electric Co.

General Electric Co. is headquartered in the US and operates the business under various segments such as Power, Renewable Energy, Oil & Gas, Aviation, Healthcare, Transportation, Lighting, and Capital. The company offers hybrid power systems consisting of technologies such as wind turbines, hydro turbines, diesel power, and more.

Schneider Electric SE

Schneider Electric SE is headquartered in France and offers products through the following business units: Low voltage, Medium voltage, Secure Power, and Industrial Automation. The company offers PV hybrid solution, which combines efficient and reliable diesel generation with clean and low-cost solar power.

Shanghai Ghrepower Green Energy Co. Ltd.

Shanghai Ghrepower Green Energy Co. Ltd. is headquartered in China and offers stable and reliable wind-solar hybrid power systems.

Siemens AG

Siemens AG is headquartered in Germany and offers products through the following business segments: Power and Gas, Energy Management, Building Technologies, Mobility, Digital Factory, Process Industries and Drives, Siemens Healthineers, Siemens Gamesa Renewable Energy, and Financial Services. The company offers SIESTART hybrid solutions.

SMA Solar Technology AG

SMA Solar Technology AG is headquartered in Germany and offers products through the following business segments: Residential, Commercial, Utility, Storage, and Digital energy. The company offers PV diesel hybrid solutions, which is efficient, requires low-maintenance, and saves resources.

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Hybrid Power Systems Technology Outlook (Revenue, USD Million, 2019-2023)

Hybrid Power Systems Regional Outlook (Revenue, USD Million, 2019-2023)

Technavio’s sample reports are free of charge and contain multiple sections of the report, such as the market size and forecast, drivers, challenges, trends, and more.Request a free sample report

Related Reports on Utilitiesinclude:

Solar Power Market in India – Solar Power Market in India by end-users (utility and rooftop) and application (grid-connected and off-grid).

Offshore Wind Power Market – Global Offshore Wind Power Market by geography (Europe and ROW) and structure type (monopile, jacket, and others).

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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SOURCE: Technavio Research

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PUB: 01/14/2020 04:12 AM/DISC: 01/14/2020 04:12 AM

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