Global Hybrid Power Systems Market Is Expected to Reach $664.5 Million by 2022; Finds New Report
Global Hybrid Power Systems Market is accounted for $436.9 million in 2016 and expected to grow at a CAGR of 7.2% to reach $664.5 million by 2022. Research and development of new products & technological innovations, renewable energy production as well as reducing the carbon footprint will fuel the market growth. High transmission costs in the rural areas will hamper market growth. However, CO2 (Carbon Dioxide) emission and energy security are major challenges faced by the market.
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