Hybrid Power Solutions Market by System Type (Solar-Diesel, Wind-Diesel, Solar-Wind-Diesel), Power Rating (Upto 10 kW, 11 kW100 kW, and Above 100 kW), End-User (Residential, Commercial, Telecom), and Region - Global Forecast to 2021
The hybrid power solutions market is expected to grow from an estimated USD 432.0 million in 2015, and is expected to grow from USD 466.5 million in 2016 to USD 689.5 million, at a CAGR of 8.13% from 2016 to 2021. Hybrid power solutions are emerging power supply source, and are suited for off grid or bad grid areas, isolated grids and islands where power supply through grid is not economical and viable option. Hybrid power solutions combine renewable power sources (wind and solar) along with diesel generators for efficient and reliable power supply. These hybrid power solutions find its applications in the residential, commercial, telecommunication, mining, and oil & gas sectors among others. The base year considered for the study is 2015, and the forecast has been provided for the period between 2016 and 2021.
Market Dynamics
Drivers
- Growth in hybrid power generation in off-grid sites
- Reliable power generation with minimized fuel, and reduced operations and maintenance cost
- Reduction in carbon emission
Restraints
- Higher initial investment
- Higher payback time period
Opportunities
- Adoption of renewable energies
- 100% rural electrification through hybrid power systems
Challenges
- Complex system integration
- Political influence
Growth of hybrid power generation in off-grid sites drives the global market
Off grid sites are those sites where electricity access is not available through grid connection. Off gird sites may be telecom towers, industrial units and small villages, which are located in remote areas and do not have grid connectivity. Laying down grid network in these regions for 100% electrification requires huge investment. The growing power demand can be met through deploying hybrid power solutions designed according to individual power requirement of residential and non-residential customers. Hybrid power solutions combine diesel generator along with renewable sources (wind, solar or both). It ensures 24*7 power supply to off grid sites with less interruption.
To know about the assumptions considered for the study, download the pdf brochure
The following are the major objectives of the study.
- To define, describe, and forecast the global hybrid power solutions market on the basis of system type, power rating, end-user, and region
- To provide detailed information regarding the major factors influencing market growth (drivers, restraints, opportunities, and industry-specific challenges)
- To strategically analyze the 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 market with respect to the main regions (Asia-Pacific, Europe, the Americas, and 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 & agreements, mergers & acquisitions, expansions, and new product development/launches, partnerships, joint ventures, and collaborations, in the global market
During this research study, major players operating in the market in various regions have been identified, and their offerings, regional presence, and distribution channels have been analyzed through in-depth discussions. Top-down and bottom-up approaches have been used to determine the overall market size. Sizes of the other individual markets have been estimated using the percentage splits obtained through secondary sources such as Hoovers, Bloomberg BusinessWeek, and Factiva, along with primary respondents. The entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews with industry experts such as CEOs, VPs, directors, and marketing executives for key insights (both qualitative and quantitative) pertaining to the market. The figure below shows the breakdown of the primaries on the basis of the company type, designation, and region considered during the research study.
Key players considered in the analysis of the global 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.
Major Market Developments
- In November 2016, Flexenclosure launched maintenance free hybrid power system eSite x10 for telecom industry.
- In December 2015, Electro Power Systems acquired Elvi Energy (Italy) to become market leader in integrated storage system.
- In October 2015, SMA America partnered with Farm from a Box to develop an off-grid toolkit for food production. 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.
Target Audience:
- Hybrid power solutions providers
- Solar PV panels and wind turbines manufacturers
- Battery storage manufacturers
- Regional renewable energy associations
- Government organizations and research institutions
- Consulting companies in the energy & solar sector
- Solar and wind energy associations
- Environmental associations
- Investment banks
Report Scope:
By System Type:
- Solar-diesel
- Wind-diesel
- Solar-wind-diesel
- Others
By End-Users:
- Residential
- Commercial
- Telecom
- Others
By Power Rating:
- Up to 10 kW
- 11 kW100 kw
- Above 100 kW
By Region:
- Americas
- Europe
- Asia-Pacific
- Middle East & Africa
Critical questions which the report answers
Available Customizations:
Based on the given market data, MarketsandMarkets offers customizations in the reports as per the clients specific requirements. The available customization options are as follows:
Geographic Analysis
- Further region/ country-wise breakdown of the market
Company Information
- Detailed analysis and profiling of additional market players (Up to 5)
The global hybrid power solutions market is projected to grow at a CAGR of 8.13% from 2016 to 2021, to reach a market size of USD 689.5 million by 2021. The growth is attributed to growth in hybrid power generation in off-grid sites, reliable power generation with minimized fuel, and reduced operation and maintenance cost, and reduction in carbon emission.
Hybrid Power Solutions: Hybrid power solutions means combining two power generation sources together to reliable power supply. Hybrid power solutions combine renewable sources like wind and solar photovoltaic with engines or generators run by diesel fuel. Hybrid power solutions minimize diesel operating cost and carbon emission by reducing diesel generators run time. Hybrid power solutions are suitable for off grid or remote areas, isolated grids and islands where power supply through grid is not economical and viable option.
The report segments the hybrid power solutions market based on end-users into residential, commercial, telecom, and others. Commercial segment is the largest end-user of hybrid power solutions owing to the growing number of small-to-medium scale industries in off-grid areas.
The report segments the market based on system type into solar-diesel, wind-diesel, solar-wind-diesel, and others. Solar-diesel segment is estimated to be the largest market owing to rising awareness and installation solar power systems across the globe, especially in developing countries.
The hybrid power solutions market has also been segmented based on power rating into three sub-segments: upto 10 kW, 11 kW-100 kW, and above 100 kW. The 11 kW-100 kW segment is the largest market; due to their major applications in commercial sector, where these systems offer more design flexibility and provide reliable power in comparison with traditional diesel based power generation solutions.
In this report, the hybrid power solutions market has been analyzed with respect to four regions, namely, the Americas, Europe, Asia-Pacific, and the Middle East & Africa. The Middle East & Africa is expected to dominate the global market during the forecast period, owing to government initiatives towards rural electrification and power generation through renewable sources. The region is expected to be the fastest growing market among other regions, during the forecast period.
Hybrid power solutions applications at the off-grid sites drive the growth of market
In developing countries, a large number of population live in remote or off grid areas. Installation and distribution costs are considerably higher for remote areas. Laying down grid network in these regions for 100% electrification requires huge investment. One of the primary needs for social and economic development of any country is efficient and regular power supply to its residents. Hybrid power solutions combine diesel generator along with renewable sources (wind, solar or both). It ensures 24*7 power supply to off grid sites with less interruption. Thus, the public authorities can achieve 100% electrification by deploying hybrid power solutions in remote or off grid areas.
Hybrid power solutions market has been segmented based on end-users into residential, commercial, telecom, and others.
Telecommunication
Telecommunication is one of major industry in terms of electricity consumption. Today energy saving is a key sustainability focus for telecom industry. This implies, especially, in rural areas where electricity consumption contributes up to 70% of total network operating cost. With increasing number of mobile subscribers, the electricity consumption by telecom sector is set to increase in the next five years. To provide network coverage, telecom companies are setting telecom towers in remote areas where grid connection is not available to provide mobile access to their customers. The setting up of towers at off grid areas, are driving growth of hybrid power solutions in telecommunication industry.
Commercial
Commercial sector includes hotels, resorts, schools, or hospitals which are located at islands or off grid areas. These islands do not have grid power supply and highly dependent on diesel generators for their power requirements. Dependence on diesel adds huge operating cost in their annual expenditure. These concern factors create huge opportunity for implementing hybrid power solutions in commercial sector.
Residential
Residential sector is one of the key users of hybrid power solutions. Electricity production cost is very high in islands areas due to high price of fuel. Integration of renewable power sources with diesel generators provides reliable and cleaner power by reducing carbon emissions. Further, the less availability of land space for gird infrastructure drives the hybrid power solutions at the residential sector.
Critical questions the report answers:
- Where will all these developments take the industry in the mid to long term?
- What are the upcoming industry applications for hybrid power solutions?
To speak to our analyst for a discussion on the above findings, click Speak to Analyst
The higher initial investment for hybrid power solutions is a major factor restraining the growth of the market. Initial cost is very important factor to be considered before deciding power system. With limitation of fund availability, it may not be possible to include renewable generator even if all factors are in favor of hybrid power system. For minimizing the required initial investment, power generation through non-conventional sources should be promoted.
Key players in the hybrid power solutions market include 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.. These players are increasingly undertaking contracts & agreements, partnerships, joint ventures, and collaborations, mergers and acquisitions, and product launches to develop and introduce new technologies and products in the market.
Table of Contents
1 Introduction (Page No. - 13)
1.1 Objectives of the Study
1.2 Market Definition
1.3 Market Scope
1.3.1 Markets Covered
1.3.2 Countries Covered
1.3.3 Years Considered for the Study
1.4 Currency
1.5 Limitations
1.6 Stakeholders
2 Research Methodology (Page No. - 17)
2.1 Research Data
2.1.1 Secondary Data
2.1.1.1 Key Data From Secondary Sources
2.1.2 Primary Data
2.1.2.1 Key Data From Primary Sources
2.1.2.2 Key Industry Insights
2.1.2.3 Breakdown of Primaries
2.2 Market Size Estimation
2.3 Market Breakdown & Data Triangulation
2.4 Research Assumptions & Limitations
2.4.1 Assumptions
3 Executive Summary (Page No. - 24)
3.1 Introduction
3.2 Historical Backdrop and Evolution
3.3 Current Scenario
3.4 Future Outlook
3.5 Conclusion
4 Premium Insights (Page No. - 30)
4.1 Market, By System Type
4.2 Market, By Power Rating
4.3 Market, By End-User
4.4 Market, By System Type
4.5 Market: End-User vs System-Type
4.6 Middle East & Africa: the Largest Market During the Forecast Period
5 Market Overview (Page No. - 35)
5.1 Introduction
5.2 Market Segmentation
5.2.1 By Power Rating
5.2.2 By End-User
5.2.3 By Region
5.2.4 By System Type
5.3 Market Dynamics
5.3.1 Drivers
5.3.1.1 Growth in Hybrid Power Generation in Off-Grid Sites
5.3.1.2 Reliable Power Generation With Minimized Fuel, and Reduced Operations and Maintenance Cost
5.3.1.3 Reduction in Carbon Emission
5.3.2 Restraints
5.3.2.1 Higher Initial Investment
5.3.2.2 Higher Payback Time Period
5.3.3 Opportunities
5.3.3.1 Adoption of Renewable Energies
5.3.3.2 100% Rural Electrification Through Hybrid Power Solutions
5.3.4 Challenges
5.3.4.1 Complex System Integration
5.3.4.2 Political Influence
6 Market, By System Type (Page No. - 43)
6.1 Introduction
6.2 Solar-Diesel
6.3 Wind-Diesel
6.4 Solar-Wind-Diesel
7 Market, By Power Rating (Page No. - 48)
7.1 Introduction
7.2 Up to 10 kW
7.6 11 kW 100 kW
7.4 Above 100 kW
8 Market, By End-User (Page No. - 52)
8.1 Introduction
8.2 Residential
8.2.1 Commercial
8.3 Telecommunication
8.4 Others
9 Market, By Region (Page No. - 57)
9.1 Introduction
9.2 Asia-Pacific
9.2.1 By System Type
9.2.2 By Rating
9.2.3 By End-User
9.2.4 By Country
9.2.4.1 China
9.2.4.2 India
9.2.4.3 Indonesia
9.2.4.4 Australia
9.2.4.5 Rest of Asia-Pacific
9.3 Europe
9.3.1 By System Type
9.3.2 By Power Rating
9.3.3 By End-User
9.4 Americas
9.4.1 By System Type
9.4.2 By Power Rating
9.4.3 By End-User
9.4.4 By Country
9.4.4.1 U.S.
9.4.4.2 Bahamas
9.4.4.3 Rest of Americas
9.5 Middle East & Africa
9.5.1 By System Type
9.5.2 By Power Rating
9.5.3 By End-User
9.5.4 By Country
9.5.4.1 UAE
9.5.4.2 Mali
9.5.4.3 Senegal
9.5.4.4 Nigeria
9.5.4.5 Rest of Middle East & Africa
10 Competitive Landscape (Page No. - 86)
10.1 Overview
10.2 Competitive Situation & Trends
10.3 Market Share Analysis, Global Market (By Key Players)
10.4 Contracts & Agreements
10.5 Partnerships, Joint Ventures, Collaborations
10.6 New Product Development/Launches
10.7 Mergers & Acquisitions
11 Company Profiles (Page No. - 94)
(Overview, Products & Services, Strategies & Insights, Developments and MnM View)*
11.1 Introduction
11.2 Vertiv
11.3 Siemens AG
11.4 SMA Solar Technology AG
11.5 Huawei Technologies Co. Ltd.
11.6 ZTE Corporation
11.7 Heliocentris Energy Solutions AG
11.8 Poweroasis Ltd.
11.9 ELTEK
11.10 Danvest Energy As
11.11 Flexenclosure AB, Ltd.
11.12 Pfisterer Holding AG
11.13 Vergnet SA
11.14 Electro Power Systems S.A.
*Details on Overview, Products & Services, Strategies & Insights, Developments and MnM View Might Not Be Captured in Case of Unlisted Companies.
12 Appendix (Page No. - 123)
12.1 Insights of Industry Experts
12.2 Discussion Guide
12.3 Knowledge Store: Marketsandmarkets Subscription Portal
12.4 Introducing RT: Real-Time Market Intelligence
12.5 Available Customizations
12.6 Related Reports
12.7 Author Details
12.8 Author Details
List of Tables (68 Tables)
Table 1 Sample Case Study: Philippines
Table 2 Hybrid Power Solution Configuration
Table 3 Hybrid Power Solutions Components and Their Share in Total Cost
Table 4 Hybrid Power Solutions Market Size, By System Type, 20142021 (USD Million)
Table 5 Solar-Diesel: Hybrid Power Solutions Market Size, By Region, 20142021 (USD Million)
Table 6 Wind-Diesel: By Market Size, By Region, 20142021 (USD Million)
Table 7 Solar-Wind-Diesel: By Market Size, By Region, 20142021 (USD Million)
Table 8 Other System Types: Hybrid Power Solutions Market Size, By Region, 20142021 (USD Million)
Table 9 Global Hybrid Power Solutions Market Size, By Power Rating, 20142021 (USD Million)
Table 10 Up to 10 kW: Hybrid Power Solutions Market Size, By Region, 20142021 (USD Million)
Table 11 11 kW - 100 kW: Hybrid Power Solutions Market Size, By Region, 20142021 (USD Million)
Table 12 Above 100 kW: Hybrid Power Solutions Market Size, By Region, 20142021 (USD Million)
Table 13 Hybrid Power Solutions Market Size, By End-User, 20142021 (USD Million)
Table 14 Residential: By Market Size, By Region, 20142021 (USD Million)
Table 15 Commercial : By Market Size, By Region, 20142021 (USD Million)
Table 16 Telecommunication : By Market Size, By Region, 20142021 (USD Million)
Table 17 Others : By Market Size, By Region, 20142021 (USD Million)
Table 18 Hybrid Power Solutions Market Size, By Region, 20142021 (USD Million)
Table 19 Top 7 Countries: By Market Size, By Country, 20142021 (USD Million)
Table 20 Solar-Diesel: By Market Size, By Top 7 Countries, 20142021 (USD Million)
Table 21 Wind-Diesel: By Market Size, By Top 7 Countries, 20142021 (USD Million)
Table 22 Solar-Wind-Diesel: By Market Size, By Top 7 Countries, 20142021 (USD Million)
Table 23 Other System Types: By Market Size, By Top 7 Countries, 20142021 (USD Million)
Table 24 Asia-Pacific: By Market Size, By System Type, 20142021 (USD Million)
Table 25 Asia-Pacific: By Market Size, By Power Rating, 20142021 (USD Million)
Table 26 Asia-Pacific: By Market Size, By End-User, 20142021 (USD Million)
Table 27 Asia-Pacific: By Market Size, By Country, 20142021 (USD Million)
Table 28 China: Hybrid Power Solutions Market Size, By System Type, 20142021 (USD Million)
Table 29 China: By Market Size, By End-User, 20142021 (USD Million)
Table 30 India: Hybrid Power Solutions Market Size, By System Type, 20142021 (USD Million)
Table 31 India: By Market Size, By End-User, 20142021 (USD Million)
Table 32 Indonesia: By Market Size, By System Type, 20142021 (USD Million)
Table 33 Indonesia: By Market Size, By End-User, 20142021 (USD Million)
Table 34 Australia: Hybrid Power Solutions Market Size, By System Type, 20142021 (USD Million)
Table 35 Australia: By Market Size, By End-User, 20142021 (USD Million)
Table 36 Rest of Asia-Pacific: By Market Size, By System Type, 20142021 (USD Million)
Table 37 Rest of Asia-Pacific: Hybrid Power Solutions Market Size, By End-User, 20142021 (USD Million)
Table 38 Europe: By Market Size, By System Type, 20142021 (USD Million)
Table 39 Europe: By Market Size, By Power Rating, 20142021 (USD Million)
Table 40 Europe: By Market Size, By End-User, 20142021 (USD Million)
Table 41 Americas: Hybrid Power Solutions Market Size, By System Type, 20142021 (USD Million)
Table 42 Americas: By Market Size, By Power Rating, 20142021 (USD Million)
Table 43 Americas: By Market Size, By End-User, 20142021 (USD Million)
Table 44 Americas: By Market Size, By Country, 20142021 (USD Million)
Table 45 U.S.: By Market Size, By System Type, 20142021 (USD Million)
Table 46 U.S.: Hybrid Power Solutions Market Size, By End-User, 20142021 (USD Million)
Table 47 Bahamas: By Market Size, By System Type, 20142021 (USD Million)
Table 48 Bahamas: By Market Size, By End-User, 20142021 (USD Million)
Table 49 Rest of Americas: Hybrid Power Solutions Market Size, By System Type, 20142021 (USD Million)
Table 50 Rest of Americas: By Market Size, By End-User, 20142021 (USD Million)
Table 51 Middle East & Africa: By Market Size, By System Type, 20142021 (USD Million)
Table 52 Middle East & Africa: By Market Size, By Power Rating, 20142021 (USD Million)
Table 53 Middle East & Africa: By Market Size, By End-User, 20142021 (USD Million)
Table 54 Middle East & Africa: By Market Size, By Country, 20142021 (USD Million)
Table 55 UAE: By Market Size, By System Type, 20142021 (USD Million)
Table 56 UAE: By Market Size, By End-User, 20142021 (USD Million)
Table 57 Mali: By Market Size, By System Type, 20142021 (USD Million)
Table 58 Mali: By Market Size, By End-User, 20142021 (USD Million)
Table 59 Senegal: Hybrid Power Solutions Market Size, By System Type, 20142021 (USD Million)
Table 60 Senegal: By Market Size, By End-User, 20142021 (USD Million)
Table 61 Nigeria: By Market Size, By System Type, 20142021 (USD Million)
Table 62 Nigeria: By Market Size, By End-User, 20142021 (USD Million)
Table 63 Rest of Middle East & Africa: Hybrid Power Solutions Market Size, By System Type, 20142021 (USD Million)
Table 64 Rest of Middle East & Africa: By Market Size, By End-User, 20142021 (USD Million)
Table 65 Contracts & Agreements, 2013-2016
Table 66 Partnerships, Joint Ventures, Collaborations, 2013-2016
Table 67 New Product Development/Launches, 2013-2016
Table 68 Mergers & Acquisitions, 2015-2016
List of Figures (47 Figures)
Figure 1 Hybrid Power Solutions Market: Research Design
Figure 2 Breakdown of Primary Interviews: By Company Type, Designation, & Region
Figure 3 Hybrid Power Solutions Market Size Estimation Methodology: Bottom-Up Approach
Figure 4 Hybrid Power Solutions Market Size Estimation Methodology: Top-Down Approach
Figure 5 Data Triangulation Methodology
Figure 6 Middle East & Africa Accounted for the Largest Hybrid Power Solutions Market Share in Market in 2015
Figure 7 Middle East and Africa is Expected to Dominate the Market By 2021
Figure 8 Solar-Diesel Segment is Expected to Dominate the Market, 20162021
Figure 9 Hybrid Power Solutions Market Size, By End-User, 20162021 (USD Million)
Figure 10 11 kW-100 kW Power Rating is Expected to Lead the Market, 20162021
Figure 11 Company Development Comparison, 2015-2016
Figure 12 Attractive Market Opportunities in the global Market
Figure 13 Hybrid Power Solutions Market Share, By System Type, 20162021
Figure 14 41 kW-80 kW Segment is Expected to Dominate the Market, 2021
Figure 15 Commercial Segment is the Largest End-User Segment in the Market, 20162021
Figure 16 Solar-Diesel System Type is the Fastest Growing Segment in the Market, 20162021
Figure 17 Solar-Diesel Hybrid Power Solutions Segment Holds the Largest Market Share in 2016
Figure 18 Hybrid Power Solutions Market Share (Value), By Region, 2015
Figure 19 Hybrid Power Solutions Market Segmentation
Figure 20 Growth in Hybrid Power Generation in Off Grid Sites are Major Driver for Market
Figure 21 Worldwide Off Grid and Bad Grid Towers
Figure 22 Solar-Diesel System Type Segment Expected to Dominate Market From 2016 to 2021
Figure 23 Hybrid Power Solutions Market Segment Rated Between 11 kW-100 kW is Expected to Dominate the Market By 2021
Figure 24 Commercial End-User Segment is Expected to Dominate the Market By 2021
Figure 25 Global Market, By Region, By Revenue (USD Million) 2015
Figure 26 Regional Snapshot: Growth Rate of the Market From 2014 to 2021
Figure 27 UAE Continues to Dominate Among Top Seven Countries in Market From 2016 to 2021
Figure 28 Regional Snapshot: Asia-Pacific Offered Attractive Market Opportunities in 2015
Figure 29 Regional Snapshot: Middle East & Africa Held the Largest Hybrid Power Solutions Market in 2015
Figure 30 Companies Adopted the Strategy of Contracts & Agreements to Garner Market Share (2013-2016)
Figure 31 Battle for Market Share: Contracts & Agreements is the Key Strategy Adopted By Major Players, 2013-2016
Figure 32 Hybrid Power Solutions Market Evolution Framework: Contracts & Agreements Have Fueled Growth From 2013 to 2016
Figure 33 Market Share Analysis, 2015
Figure 34 Regional Revenue Mix of Top 5 Market Players
Figure 35 Vertiv: Company Snapshot
Figure 36 Vertiv: SWOT Analysis
Figure 37 Siemens AG: Company Snapshot
Figure 38 Siemens AG: SWOT Analysis
Figure 39 SMA Solar Technology AG: Company Snapshot
Figure 40 SMA Solar Technology AG: SWOT Analysis
Figure 41 Huawei Technologies Co. Ltd. : Company Snapshot
Figure 42 Huawei Technologies Co. Ltd..: SWOT Analysis
Figure 43 ZTE Corporation: Company Snapshot
Figure 44 ZTE Corporation.: SWOT Analysis
Figure 45 Heliocentris Energy Solutions AG: Company Snapshot
Figure 46 ELTEK: Company Snapshot
Figure 47 Flexenclosure AB.: Company Snapshot
Growth opportunities and latent adjacency in Hybrid Power Solutions Market