Nigeria is anticipated to witness a growth over 16%, in term of revenue by 2024.

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Industrial Hybrid Solar Wind Market to grow at
over 13 CAGR from 2016 to 2023Fractovia.org
Fuel Cell Market size worth 25.5bn by 2024
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Overview

• Growing popularity of off grid electricity,
  favorable legislations, and rising ecological
  concerns will boost hybrid solar wind market
  trends over the coming years. Moreover, improved
  efficiency and high reliability offered via
  hybrid solar wind technology will further enhance
  the industry growth. According to Global Market
  Insights, Inc., Hybrid solar wind industry size
  is estimated to reach USD 1.47 billion by 2024.
• Rise in environmental pollution along with
  depletion of non -renewable energy resources such
  as fossil fuels have forced various governments
  to look for other alternate renewable energy
  sources such as Solar Energy and wind energy.
  Furthermore, low operating costs along with
  rising preference for clean energy have resulted
  in heavy demand for these renewable energy
  sources, thereby driving hybrid solar wind market
  size.

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Product Trends

• Africa hybrid solar wind market will also grow
  significantly over the coming seven years, driven
  by the regional demand for off grid electricity.
  Nigeria is projected to be a prominent
  contributor towards Africa hybrid solar industry
  due to the regional energy supply crisis in turn
  leading to a high demand for wind and solar power
  energy. Moreover, huge investments in renewable
  energy projects will propel Australia hybrid
  solar wind industry trends over the coming seven
  years.
• Asia Pacific hybrid solar wind industry is
  projected to observe a positive trend over the
  coming timeframe. Scarcity of non-renewable
  energy sources has forced the government to enact
  strict legislations promoting the use of
  renewable energy sources such as wind and solar
  energy, which is available in abundance. India,
  which is expected to grow at a rate of 21 (in
  terms of volume) over 2016-2024, will drive the
  APAC demand.

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U.S. Hybrid Solar Wind Market size, by product,
2013 -2024 (MW)

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Competitive Trends

• Over the next few years, effective hybrid solar
  systems with high energy conserving capacities
  and lower greenhouse gas emissions will be on the
  top priority of the manufacturers.
• Key hybrid solar wind industry participants
  include ReGen Powertech, Unitron Energy Systems
  Private Limited, Alternate Energy Company, Blue
  Pacific Solar Products Incorporation, Supernova
  Technologies Private Limited, Grupo Dragon,
  Zenith Solar Systems, and Alpha Windmills.

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