Lewes, DE -- (SBWIRE) -- 08/29/2016 -- Report forecast the global hybrid power systems market to grow at a CAGR of 5.87% during the period 2016-2020.

A hybrid renewable energy system is a combination of more than one power source, where one is a renewable source, and the other is a conventional source of power. Some of these sources include solar PV, wind energy systems, fuel cells, and energy storage systems. The hybrid system harnesses the renewable sources that are freely available to generate electricity combined with a diesel generator. Thus, it reduces the fuel cost and the emissions from diesel power generation. The hybrid system can also be combined with other technologies such as battery storage to improve its effectiveness.

The report covers the present scenario and the growth prospects of the global hybrid power systems market for 2016-2020. The report also presents the vendor landscape and a corresponding detailed analysis of the top five vendors operating in the market.

The market is divided into the following segments based on geography:
- Americas
- APAC
- EMEA

According to the report, one of the key drivers for market growth will be the increasing need for electrification for economic growth. Electricity consumption is proportional to the economic development of a country; although it is a complex relationship, electricity is a pre-requisite for economic growth, driving infrastructure and social development. However, a majority of people in developing countries, especially in rural areas, lack access to grid power, which indirectly affects economic growth.

Further, the report states that the distributed way of power generation will be a challenge for the market. Distributed generation refers to small-scale power generation through the use of generators or renewables at the point of consumption. This technology is gaining popularity due to the reduction it offers in the cost of energy systems such as solar PVs, and wind turbines. Besides, this trend is receiving support from various governments due to its economic and lower-emission advantages.

Global Hybrid Power Systems Market 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

key players in the global hybrid power systems market: Emerson, Heliocentris, Shanghai Ghrepower Green Energy, Siemens, and SMA.

Other Prominent Vendors in the market are: AEG Power Solutions, Alpha Power, Danvest, Electro Power Systems, Elgris Power, Eltek Power, KLiUX Energies, ReGen Powertech, Repowering Solutions, Schneider Electric, SFC Energy, Urban Green Energy, and WindStream Technologies.

Market driver
- Increasing need for electrification
- For a full, detailed list, view our report

Market challenge
- High cost of implementation
- For a full, detailed list, view our report

Market trend
- Increasing deployment of microgrids
- For a full, detailed list, view our report

Key questions answered in this report
- What will the market size be in 2020 and what will the growth rate be?
- What are the key market trends?
- What is driving this market?
- What are the challenges to market growth?
- Who are the key vendors in this market space?
- What are the market opportunities and threats faced by the key vendors?
- What are the strengths and weaknesses of the key vendors?

Spanning over 80 pages and 60 Exhibit "Global Hybrid Power Systems Market 2016 - 2020" report covers Executive summary, Scope of the report, Market research methodology, Introduction, Market landscape, Market segmentation by end-users, Market segmentation by technology, Geographical segmentation, Market drivers, Impact of drivers, Market challenges, Impact of drivers and challenges, Market trends, Vendor landscape, Key vendor analysis, Appendix.

For more information Visit at: http://www.marketresearchreports.com/technavio/global-hybrid-power-systems-market-2016-2020

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