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Global Hybrid Solar Wind Systems Market by Connectivity (Stand-alone, On-grid), by End Use (Industrial, Commercial, Residential) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast To 2028

  • Report ID: EP-74547
  • Author: Up Market Research
  • Rating: 4.8
  • Total Reviews: 75
  • No. Of Pages: 230
  • Format:
  • Pub. Date: 2021-10-21
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Summary of the Report

In 2019, the global market for hybrid solar wind systems was worth USD 925.2 millions. It is projected to grow at a compound annual rate (CAGR of 7.2%) between 2020 and 2027. The market is expected to grow due to rising demand for clean energy and an increase in government spending to support growth of the solar-wind energy sector.

The hybrid solar wind market is growing in importance due to its ability to generate electricity throughout the year. Both solar and wind power generation work together. Solar installations produce peak electricity between April and August, while wind installations produce maximum electricity during the rest of the year.

This market covers both stand-alone and on-grid systems. The U.S. market is dominated, as shown in the figure above, by stand-alone system, which can be installed remotely to supply electricity to distant consumers not connected to the grid. Global economic growth is expected after the COVID-19 pandemic. This is why energy needs are expected to rise exponentially over the next few years.

This is due to higher living standards and increased economic growth. Fossil fuels still dominate the energy supply. Renewable energies have seen a significant increase in demand due to the shift to low-carbon fuels and stringent environmental regulations in many industrialized countries.

The benefits of solar and wind power generation systems have been proven lucrative in the European Union and Americas. There are many benefits to sun PV, including the reduction of carbon emissions, sustainability, and low-cost generation of energy. These benefits will increase technology demand over the forecast period.

Connectivity Insights

The hybrid solar systems market was dominated by stand-alone systems in 2019, accounting for more than 60%. The dominant position of stand-alone systems is expected to remain so throughout the forecast period due to many off-grid industries such as electronics, manufacturing, and healthcare that are located in remote areas. These industries are unable to connect to the grid due large towers and other utility equipment. Stand-alone systems offer a better option for electricity supply.

A reliable and consistent supply of electricity is a key requirement for a country's economic and social development. Hybrid power supply solutions combine wind and solar renewable sources. This provides 24/7 power supply from remote locations without interruptions. It also helps to achieve 100% electrification.

The hybrid on-grid solar wind system provides continuous electricity supply to the local grid, which helps reduce rising energy demand. These factors are expected to make on-grid systems the fastest to grow at 7.6% between 2020 and 2027.

End-use Insights

In 2019, the industrial end-use segment held 71% of the market. This share will continue to grow at a substantial CAGR between 2020 and 2027. The industrial sector accounts for approximately half of all global energy production. High levels of productivity can be affected by power failures, which could lead to severe losses in the manufacturing sector. The demand for hybrid solar power systems has also been driven by the growing industrial sector in emerging economies like India, Brazil, China, and China.

A strong economic growth has led to a rise of manufacturing and other industrial activities in developing countries. This market also benefits from a growing demand-supply gap. Over the next few years, the residential segment will experience the highest CAGR. Due to the high product demand from South American and Asia Pacific commercial sectors, the commercial segment will also experience significant growth. These regions are experiencing rapid growth in the key sectors of telecom, IT and retail, which has resulted in high product demand.

Regional Insights

Asia Pacific dominated the global market in 2019, holding more than 37%. Due to its many end-use industries such as manufacturing, healthcare, and pharmaceutical, it is expected to be the largest market in the region. The region's demand for these systems has been fueled by the rapid growth in India, China, and South Korea's industrial sectors. Due to the low labor and utility cost, China has seen a rise in heavy equipment and oil and gas companies. This has also driven product demand.

North America was led by the U.S. and Canada in capturing nearly 21.7% of the global market share in 2019. North America's market is driven by key vendors, OEMs and EPC players as well as developed infrastructure for electricity transmission.

The demand for renewable energy sources such as solar and wind is increasing due to the growth of commercial and industrial facilities like restaurants, shopping centers, high rises and commercial office buildings. The market will be further driven by local government support and decreasing costs of solar panels.

Market Share Insights & Key Companies

There are very few hybrid solutions available in the market, which is why it's highly concentrated. After considering the long-term advantages and current regulatory environment, market leaders have adopted sustainable sourcing strategies. To grow and sustain their market share, companies are now focused on providing long-term value for shareholders. They also focus on creating robust, low-risk strategies that will provide significant profit margins and a solid foundation for shareholders. The market leader in hybrid solar wind systems is:

  • Blue Pacific Solar Product, Inc.

  • Alpha Windmills

  • ReGen Powertech

  • Gamesa

  • UNITRON Energy System Pvt. Ltd.

  • Supernova Technologies Pvt. Ltd.

  • Alternate Energy Company

  • Grupo Dragon

  • Polar Power, Inc.

Up Market Research published a new report titled “Hybrid Solar Wind Systems Market research report which is segmented by Connectivity (Stand-alone, On-grid), by End Use (Industrial, Commercial, Residential), By Players/Companies UNITRON Energy System Pvt Ltd, Gamesa, Blue Pacific Solar Product Inc, Alternate Energy Company, Grupo Dragon, Alpha Windmills, Polar Power Inc, ReGen Powertech, Supernova Technologies Pvt Ltd”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.


Report Scope

Report AttributesReport Details
Report TitleHybrid Solar Wind Systems Market Research Report
By ConnectivityStand-alone, On-grid
By End UseIndustrial, Commercial, Residential
By CompaniesUNITRON Energy System Pvt Ltd, Gamesa, Blue Pacific Solar Product Inc, Alternate Energy Company, Grupo Dragon, Alpha Windmills, Polar Power Inc, ReGen Powertech, Supernova Technologies Pvt Ltd
Regions CoveredNorth America, Europe, APAC, Latin America, MEA
Base Year2020
Historical Year2018 to 2019 (Data from 2010 can be provided as per availability)
Forecast Year2028
Number of Pages230
Number of Tables & Figures161
Customization AvailableYes, the report can be customized as per your need.

The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.


Global Hybrid Solar Wind Systems Industry Outlook

Global Hybrid Solar Wind Systems Market Report Segments:

The market is segmented by Connectivity (Stand-alone, On-grid), by End Use (Industrial, Commercial, Residential).

Hybrid Solar Wind Systems Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.


Key Benefits for Industry Participants & Stakeholders:

  • Industry drivers, restraints, and opportunities covered in the study
  • Neutral perspective on the market performance
  • Recent industry trends and developments
  • Competitive landscape & strategies of key players
  • Potential & niche segments and regions exhibiting promising growth covered
  • Historical, current, and projected market size, in terms of value
  • In-depth analysis of the Hybrid Solar Wind Systems Market

Overview of the regional outlook of the Hybrid Solar Wind Systems Market:

Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.


Hybrid Solar Wind Systems Market Overview

Highlights of The Hybrid Solar Wind Systems Market Report:

  1. The market structure and projections for the coming years.
  2. Drivers, restraints, opportunities, and current trends of Hybrid Solar Wind Systems Market.
  3. Historical data and forecast.
  4. Estimations for the forecast period 2028.
  5. Developments and trends in the market.
        6. By Connectivity:

                1. Stand-alone

                2. On-grid

        7. By End Use:

                1. Industrial

                2. Commercial

                3. Residential

  1. Market scenario by region, sub-region, and country.
  2. Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
  3. Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
  4. Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the Hybrid Solar Wind Systems Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.


How you may use our products:

  • Correctly Positioning New Products
  • Market Entry Strategies
  • Business Expansion Strategies
  • Consumer Insights
  • Understanding Competition Scenario
  • Product & Brand Management
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Hybrid Solar Wind Systems Market Trends

Reasons to Purchase the Hybrid Solar Wind Systems Market Report:

  • The report includes a plethora of information such as market dynamics scenario and opportunities during the forecast period
  • Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) data.
  • Regional, sub-regional, and country level data includes the demand and supply forces along with their influence on the market.
  • The competitive landscape comprises share of key players, new developments, and strategies in the last three years.
  • Comprehensive companies offering products, relevant financial information, recent developments, SWOT analysis, and strategies by these players.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Hybrid Solar Wind Systems Market Overview
   4.1 Introduction 
      4.1.1 Market Taxonomy 
      4.1.2 Market Definition 
      4.1.3 Macro-Economic Factors Impacting the Market Growth 
   4.2 Hybrid Solar Wind Systems Market Dynamics 
      4.2.1 Market Drivers 
      4.2.2 Market Restraints 
      4.2.3 Market Opportunity 
   4.3 Hybrid Solar Wind Systems Market - Supply Chain Analysis 
      4.3.1 List of Key Suppliers 
      4.3.2 List of Key Distributors 
      4.3.3 List of Key Consumers 
   4.4 Key Forces Shaping the Hybrid Solar Wind Systems Market 
      4.4.1 Bargaining Power of Suppliers 
      4.4.2 Bargaining Power of Buyers 
      4.4.3 Threat of Substitution 
      4.4.4 Threat of New Entrants 
      4.4.5 Competitive Rivalry 
   4.5 Global Hybrid Solar Wind Systems Market Size & Forecast, 2018-2028 
      4.5.1 Hybrid Solar Wind Systems Market Size and Y-o-Y Growth 
      4.5.2 Hybrid Solar Wind Systems Market Absolute $ Opportunity 


Chapter 5 Global Hybrid Solar Wind Systems Market Analysis and Forecast by Connectivity
   5.1 Introduction
      5.1.1 Key Market Trends & Growth Opportunities by Connectivity
      5.1.2 Basis Point Share (BPS) Analysis by Connectivity
      5.1.3 Absolute $ Opportunity Assessment by Connectivity
   5.2 Hybrid Solar Wind Systems Market Size Forecast by Connectivity
      5.2.1 Stand-alone
      5.2.2 On-grid
   5.3 Market Attractiveness Analysis by Connectivity

Chapter 6 Global Hybrid Solar Wind Systems Market Analysis and Forecast by End Use
   6.1 Introduction
      6.1.1 Key Market Trends & Growth Opportunities by End Use
      6.1.2 Basis Point Share (BPS) Analysis by End Use
      6.1.3 Absolute $ Opportunity Assessment by End Use
   6.2 Hybrid Solar Wind Systems Market Size Forecast by End Use
      6.2.1 Industrial
      6.2.2 Commercial
      6.2.3 Residential
   6.3 Market Attractiveness Analysis by End Use

Chapter 7 Global Hybrid Solar Wind Systems Market Analysis and Forecast by Region
   7.1 Introduction
      7.1.1 Key Market Trends & Growth Opportunities by Region
      7.1.2 Basis Point Share (BPS) Analysis by Region
      7.1.3 Absolute $ Opportunity Assessment by Region
   7.2 Hybrid Solar Wind Systems Market Size Forecast by Region
      7.2.1 North America
      7.2.2 Europe
      7.2.3 Asia Pacific
      7.2.4 Latin America
      7.2.5 Middle East & Africa (MEA)
   7.3 Market Attractiveness Analysis by Region

Chapter 8 Coronavirus Disease (COVID-19) Impact 
   8.1 Introduction 
   8.2 Current & Future Impact Analysis 
   8.3 Economic Impact Analysis 
   8.4 Government Policies 
   8.5 Investment Scenario

Chapter 9 North America Hybrid Solar Wind Systems Analysis and Forecast
   9.1 Introduction
   9.2 North America Hybrid Solar Wind Systems Market Size Forecast by Country
      9.2.1 U.S.
      9.2.2 Canada
   9.3 Basis Point Share (BPS) Analysis by Country
   9.4 Absolute $ Opportunity Assessment by Country
   9.5 Market Attractiveness Analysis by Country
   9.6 North America Hybrid Solar Wind Systems Market Size Forecast by Connectivity
      9.6.1 Stand-alone
      9.6.2 On-grid
   9.7 Basis Point Share (BPS) Analysis by Connectivity 
   9.8 Absolute $ Opportunity Assessment by Connectivity 
   9.9 Market Attractiveness Analysis by Connectivity
   9.10 North America Hybrid Solar Wind Systems Market Size Forecast by End Use
      9.10.1 Industrial
      9.10.2 Commercial
      9.10.3 Residential
   9.11 Basis Point Share (BPS) Analysis by End Use 
   9.12 Absolute $ Opportunity Assessment by End Use 
   9.13 Market Attractiveness Analysis by End Use

Chapter 10 Europe Hybrid Solar Wind Systems Analysis and Forecast
   10.1 Introduction
   10.2 Europe Hybrid Solar Wind Systems Market Size Forecast by Country
      10.2.1 Germany
      10.2.2 France
      10.2.3 Italy
      10.2.4 U.K.
      10.2.5 Spain
      10.2.6 Russia
      10.2.7 Rest of Europe
   10.3 Basis Point Share (BPS) Analysis by Country
   10.4 Absolute $ Opportunity Assessment by Country
   10.5 Market Attractiveness Analysis by Country
   10.6 Europe Hybrid Solar Wind Systems Market Size Forecast by Connectivity
      10.6.1 Stand-alone
      10.6.2 On-grid
   10.7 Basis Point Share (BPS) Analysis by Connectivity 
   10.8 Absolute $ Opportunity Assessment by Connectivity 
   10.9 Market Attractiveness Analysis by Connectivity
   10.10 Europe Hybrid Solar Wind Systems Market Size Forecast by End Use
      10.10.1 Industrial
      10.10.2 Commercial
      10.10.3 Residential
   10.11 Basis Point Share (BPS) Analysis by End Use 
   10.12 Absolute $ Opportunity Assessment by End Use 
   10.13 Market Attractiveness Analysis by End Use

Chapter 11 Asia Pacific Hybrid Solar Wind Systems Analysis and Forecast
   11.1 Introduction
   11.2 Asia Pacific Hybrid Solar Wind Systems Market Size Forecast by Country
      11.2.1 China
      11.2.2 Japan
      11.2.3 South Korea
      11.2.4 India
      11.2.5 Australia
      11.2.6 South East Asia (SEA)
      11.2.7 Rest of Asia Pacific (APAC)
   11.3 Basis Point Share (BPS) Analysis by Country
   11.4 Absolute $ Opportunity Assessment by Country
   11.5 Market Attractiveness Analysis by Country
   11.6 Asia Pacific Hybrid Solar Wind Systems Market Size Forecast by Connectivity
      11.6.1 Stand-alone
      11.6.2 On-grid
   11.7 Basis Point Share (BPS) Analysis by Connectivity 
   11.8 Absolute $ Opportunity Assessment by Connectivity 
   11.9 Market Attractiveness Analysis by Connectivity
   11.10 Asia Pacific Hybrid Solar Wind Systems Market Size Forecast by End Use
      11.10.1 Industrial
      11.10.2 Commercial
      11.10.3 Residential
   11.11 Basis Point Share (BPS) Analysis by End Use 
   11.12 Absolute $ Opportunity Assessment by End Use 
   11.13 Market Attractiveness Analysis by End Use

Chapter 12 Latin America Hybrid Solar Wind Systems Analysis and Forecast
   12.1 Introduction
   12.2 Latin America Hybrid Solar Wind Systems Market Size Forecast by Country
      12.2.1 Brazil
      12.2.2 Mexico
      12.2.3 Rest of Latin America (LATAM)
   12.3 Basis Point Share (BPS) Analysis by Country
   12.4 Absolute $ Opportunity Assessment by Country
   12.5 Market Attractiveness Analysis by Country
   12.6 Latin America Hybrid Solar Wind Systems Market Size Forecast by Connectivity
      12.6.1 Stand-alone
      12.6.2 On-grid
   12.7 Basis Point Share (BPS) Analysis by Connectivity 
   12.8 Absolute $ Opportunity Assessment by Connectivity 
   12.9 Market Attractiveness Analysis by Connectivity
   12.10 Latin America Hybrid Solar Wind Systems Market Size Forecast by End Use
      12.10.1 Industrial
      12.10.2 Commercial
      12.10.3 Residential
   12.11 Basis Point Share (BPS) Analysis by End Use 
   12.12 Absolute $ Opportunity Assessment by End Use 
   12.13 Market Attractiveness Analysis by End Use

Chapter 13 Middle East & Africa (MEA) Hybrid Solar Wind Systems Analysis and Forecast
   13.1 Introduction
   13.2 Middle East & Africa (MEA) Hybrid Solar Wind Systems Market Size Forecast by Country
      13.2.1 Saudi Arabia
      13.2.2 South Africa
      13.2.3 UAE
      13.2.4 Rest of Middle East & Africa (MEA)
   13.3 Basis Point Share (BPS) Analysis by Country
   13.4 Absolute $ Opportunity Assessment by Country
   13.5 Market Attractiveness Analysis by Country
   13.6 Middle East & Africa (MEA) Hybrid Solar Wind Systems Market Size Forecast by Connectivity
      13.6.1 Stand-alone
      13.6.2 On-grid
   13.7 Basis Point Share (BPS) Analysis by Connectivity 
   13.8 Absolute $ Opportunity Assessment by Connectivity 
   13.9 Market Attractiveness Analysis by Connectivity
   13.10 Middle East & Africa (MEA) Hybrid Solar Wind Systems Market Size Forecast by End Use
      13.10.1 Industrial
      13.10.2 Commercial
      13.10.3 Residential
   13.11 Basis Point Share (BPS) Analysis by End Use 
   13.12 Absolute $ Opportunity Assessment by End Use 
   13.13 Market Attractiveness Analysis by End Use

Chapter 14 Competition Landscape 
   14.1 Hybrid Solar Wind Systems Market: Competitive Dashboard
   14.2 Global Hybrid Solar Wind Systems Market: Market Share Analysis, 2019
   14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy) 
      14.3.1 UNITRON Energy System Pvt Ltd
      14.3.2 Gamesa
      14.3.3 Blue Pacific Solar Product Inc
      14.3.4 Alternate Energy Company
      14.3.5 Grupo Dragon
      14.3.6 Alpha Windmills
      14.3.7 Polar Power Inc
      14.3.8 ReGen Powertech
      14.3.9 Supernova Technologies Pvt Ltd
Segments Covered in the Report
The global Hybrid Solar Wind Systems market has been segmented based on

By Connectivity
  • Stand-alone
  • On-grid
By End Use
  • Industrial
  • Commercial
  • Residential
Regions
  • Asia Pacific
  • North America
  • Latin America
  • Europe
  • Middle East & Africa
Key Players
  • UNITRON Energy System Pvt Ltd
  • Gamesa
  • Blue Pacific Solar Product Inc
  • Alternate Energy Company
  • Grupo Dragon
  • Alpha Windmills
  • Polar Power Inc
  • ReGen Powertech
  • Supernova Technologies Pvt Ltd

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