NEW YORK — The hybrid microgrid is a combination of the energy sources used to produce a microgrid. In the past, several historical reasons had led to the growing influence of AC technology over DC power systems. However in the present times, increasing technological advancements in power conversion, generation, transmission, and consumption are establishing the stronghold of DC power system once again. This DC power system is expected to prevail strongly in the microgrids, which is regarded as the future of smart distribution systems. Thus by evolving the hybrid AC/DC microgrids, the integration of the DC technology into the existing AC systems could be ensured.
The global hybrid grid market was valued at $1,051.2 million in 2014 and is projected to reach $1,922.5 million by 2019 at a CAGR of 12.8% from 2014 to 2019. The market, by application, was led by campus/institutional in 2014, with a share of 40.4%. It is projected to reach a value of $773.7 million by 2019 at a CAGR of 12.7% from 2014 to 2019.
The report also provides an extensive competitive landscaping of companies operating in this market. The main companies operating in the global region are ABB Ltd. (U.S.), Siemens AG (Germany), Honeywell International (U.S.), General electric (U.S.), Lockheed Martin (U.S.) and Eaton Corporation (Ireland) among others.
Segment and country specific company shares, news & deals, M&A, segment specific pipeline products, product approvals and product recalls of the major companies have been detailed.
New product launches and mergers &acquisitions are the key strategies adopted by market players to ensure their growth in the market.
Markets Covered
– Global Hybrid Grid market, By Consumption Pattern
– Urban/Metropolitan
– Semi-Urban
– Rural/Island
– Global Hybrid Grid market, By Application
– Defense & Military
– Campus/Institutional
– Commercial
– Others
– Global Hybrid Grid market, By Geography
– North America
– Europe
– Asia-Pacific
– RoW
Source: prnewswire