"Actionable Insights to Fuel Your Growth"

Hybrid Power System Market Size, Share and Global Trend By Type (Solar PV-Diesel, Wind-Diesel, Others), By Location (On-Grid, Off-Grid), By End-Use (Residential, Commercial, Industrial) and Regional Forecast, 2024-2032

Region :Global | Report ID: FBI101318 | Status : Ongoing



The hybrid power system is a high-efficiency power generation system designed for the generation and usage of electricity. The hybrid power system is not dependent on the electricity grids and is comprised of more than one power source. Hybrid power systems are very efficient for supplying power in remote locations or islands such as pacific or Caribbean Islands where grid connectivity is not accessible.

Unlike the other power generation systems, hybrid power generation systems can overcome the voltage fluctuations and energy losses. Due to the presence of two power generation systems, the efficiency of the hybrid power systems more as compared to the other power systems.

To gain extensive insights into the market, Request for Customization

By type, the hybrid power system market is categorized based on the technology used, which is solar photovoltaic with a diesel generator, wind with diesel generators, and hybrid concentrated thermal power systems among others. The solar photovoltaic systems with diesel generators are a combination of power generation systems where energy from solar PV and power output from diesel generators are used to meet the power demands of the consumer.

In a wind-diesel hybrid power system, electricity is generated from the wind turbines together with diesel generator sets. The wind-diesel hybrid power system is generally used to supply power to the houses. By location, the hybrid power system market is bifurcated on the basis of the installation of hybrid power systems which is on-grid and off-grid.

Depending on the location which can be remote or one with an integrated grid, on-grid and off-grid hybrid power systems are selected. The off-grid segment is expected to dominate the hybrid power system by location owing to higher demand from the remote locations. By end-use, the hybrid power system market is bifurcated on the basis of applications of the hybrid power systems in residential, commercial and industrial sectors.

The hybrid power system is a mix of two or more power generation systems. Hybrid power systems such as solar and wind hybrid power system can generate electricity at day time through the solar photovoltaic panels and at night time, they use wind turbines when the wind is blowing at higher rates as compared to the day time in some regions.

Owing to this, higher efficiency is achieved as compared to other power generation systems. This is expected to add to the healthy growth of the hybrid power system market in the coming years. The telecom operators use hybrid power systems to power the off-grid applications and the growth of the telecom industry is expected to create a platform for the growth of the hybrid power system market during the forecast period.

The operation of the hybrid power systems is complicated as compared to the operation of solar photovoltaic and wind energy plants. Owing to the complications in controlling the operations of the hybrid power system, the growth of the hybrid power system is likely to have a negative impact in the near future.

Key Players Covered

Some of the major companies that are present in the global hybrid power system market are Siemens Energy, GE Power, SunWize Power & Battery, LLC, Aggreko, Eaton, Hybrid Power by Energy Solutions, Wärtsilä, UNIPOWER - Powering Technology, Man Energy Solutions, Eni, WindStream Technologies, Inc., Delta Electronics, Huawei Enterprise, Polar Power Inc., Coslight India Pvt Ltd., Teksan™, and Windsrip among others.




By Type

· Solar PV-Diesel

· Wind-Diesel

· Others

By Location

· On-Grid

· Off-Grid

By End-Use

· Residential

· Commercial

· Industrial

By Geography

· North America (the USA and Canada)

· Europe (UK, Germany, France, Italy, Spain, Russia and Rest of Europe)

· Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)

· Latin America (Brazil, Mexico, and Rest of Latin America)

· Middle East & Africa (South Africa, GCC, and Rest of the Middle East & Africa)

Regional Analysis

The global hybrid power system market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The telecom industry in the U.S has witnessed considerable growth over the recent past. Introduction of 5G has boosted the growth of the telecommunication industry in the U.S. Owing to this the hybrid power system market is expected to grow at healthy rates in the North America region. Latin America region has a weak power distribution and grid connectivity in remote areas such as the Caribbean Islands. In order to strengthen the power supply, the region is focused on adopting renewable sources of energy. This is likely to aid in boosting the growth of the hybrid power system market in Latin America over the forecast period. Europe region has installed high capacities of solar and wind energy and is now focused on adopting other more efficient energy sources. For instance, in November 2018, Hitachi Power Solutions Co., Ltd and NKG Insulators, Ltd started operation of a large scale hybrid power plant in Germany. Owing to the growth of renewable energy installations in the region the demand for hybrid power systems is expected to remain high in the Europe region. The Middle East and Africa region is focused on increasing its power generation capacities owing to meet the energy demand across different countries such as Saudi Arabia, the United Arab Emirates, and Kuwait among others. Lack of grid connectivity in some parts of Africa along with increasing power generation capacities in the GCC countries is expected to provide significant opportunities for the growth of the hybrid power system market in the region during the forecast period. Japan is among the key regions focused on adopting renewable and other conventional energy sources. China and India are also engaged in installations of new power generation capacities in order to meet the increasing electricity demands form the residential and industrial sectors. Owing to this the hybrid system market is expected to gain traction in the Asia Pacific region in the near future.

Key Industry Developments

  • In August 2019, Nidec ASI announced that it has developed a power management system for yacht wider 165. The company has also announced that the power management system which is a hybrid power system will supply power to meet the energy needs of propulsion systems, rechargeable batteries, and cabins
  • In July 2019, Controllis launched a new hybrid power unit under the brand name Smart-48. The hybrid power unit is expected to aid mobile and telecom operators to save fuel costs and carbon footprint
  • In January 2019, an Indian state has announced its plans to install 18GW capacity of solar, wind and solar-wind hybrid power plants by 2022. The state is focused on targeting US$ 40 billion investments in the next decade for the renewable capacities

  • Ongoing
  • 2023
  • 2019-2022

Personalize this Research

  • Granular Research on Specified Regions or Segments
  • Companies Profiled based on User Requirement
  • Broader Insights Pertaining to a Specific Segment or Region
  • Breaking Down Competitive Landscape as per Your Requirement
  • Other Specific Requirement on Customization
Request Customization Banner

Energy & Power Clients

The Japan Research

Client Testimonials

“We are quite happy with the methodology you outlined. We really appreciate the time your team has spent on this project, and the efforts of your team to answer our questions.”

- One of the largest & renowned medical research centers based in the U.S. on a report on the U.S. NIPT Market.

“Thanks a million. The report looks great!”

- Feedback from a consultant on a report on the U.S. Beef Market.

“Thanks for the excellent report and the insights regarding the lactose market.”

- Brazil based company specializing in production of protein ingredients.

“I liked the report; would it be possible to send me the PPT version as I want to use a few slides in an internal presentation that I am preparing.”

- Global Digital Services Agency on a report on the Global Luxury Goods Market.

“This report is really well done and we really appreciate it! Again, I may have questions as we dig in deeper. Thanks again for some really good work.”

- U.S.-based biotechnology company focussing on treatment of chronic pain.

“Kudos to your team. Thank you very much for your support and agility to answer our questions.”

- Europe-based provider of solutions to automate data centre operations.

“We appreciate you and your team taking out time to share the report and data file with us, and we are grateful for the flexibility provided to modify the document as per request. This does help us in our business decision making. We would be pleased to work with you again, and hope to continue our business relationship long into the future.”

- India-based manufacturer of industrial and specialty intermediates with a strong global presence.

“I want to first congratulate you on the great work done on the Medical Platforms project. Thank you so much for all your efforts.”

- One of the largest cosmetics company in the world.

“Thank you very much. I really appreciate the work your team has done. I feel very comfortable recommending your services to some of the other startups that I’m working with, and will likely establish a good long partnership with you.”

- U.S. based startup operating in the cultivated meat market.

“We received the below report on the U.S. market from you. We were very satisfied with the report.”

- Global hearing aids manufacturer.

“I just finished my first pass-through of the report. Great work! Thank you!”

- U.S. based solar racking solutions provider.

“Thanks again for the great work on our last partnership. We are ramping up a new project to understand the imaging and imaging service and distribution market in the U.S.”

- World’s leading advisory firm.

“We feel positive about the results. Based on the presented results, we will do strategic review of this new information and might commission a detailed study on some of the modules included in the report after end of the year. Overall we are very satisfied and please pass on the praise to the team. Thank you for the co-operation!”

- Germany based machine construction company.

“Thank you very much for the very good report. I have another requirement on cutting tools, paper crafts and decorative items.”

- Japanese manufacturing company of stationery products.

“We are happy with the professionalism of your in-house research team as well as the quality of your research reports. Looking forward to work together on similar projects”

- One of the Leading Food Companies in Germany

“We appreciate the teamwork and efficiency for such an exhaustive and comprehensive report. The data offered to us was exactly what we were looking for. Thank you!”

- Intuitive Surgical

“I recommend Fortune Business Insights for their honesty and flexibility. Not only that they were very responsive and dealt with all my questions very quickly but they also responded honestly and flexibly to the detailed requests from us in preparing the research report. We value them as a research company worthy of building long-term relationships.”

- Major Food Company in Japan

“Well done Fortune Business Insights! The report covered all the points and was very detailed. Looking forward to work together in the future”

- Ziering Medical

“It has been a delightful experience working with you guys. Thank you Fortune Business Insights for your efforts and prompt response”

- Major Manufacturer of Precision Machine Parts in India

“I had a great experience working with Fortune Business Insights. The report was very accurate and as per my requirements. Very satisfied with the overall report as it has helped me to build strategies for my business”

- Hewlett-Packard

“This is regarding the recent report I bought from Fortune Business insights. Remarkable job and great efforts by your research team. I would also like to thank the back end team for offering a continuous support and stitching together a report that is so comprehensive and exhaustive”

- Global Management Consulting Firm

“Please pass on our sincere thanks to the whole team at Fortune Business Insights. This is a very good piece of work and will be very helpful to us going forward. We know where we will be getting business intelligence from in the future.”

- UK-based Start-up in the Medical Devices Sector

“Thank you for sending the market report and data. It looks quite comprehensive and the data is exactly what I was looking for. I appreciate the timeliness and responsiveness of you and your team.”

- One of the Largest Companies in the Defence Industry
We use cookies to enhance your experience. By continuing to visit this site you agree to our use of cookies . Privacy.