HYBRID POWER SOLUTIONS MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)

Key Developments

• In August 2024, Huawei Digital Power Technologies Co., Ltd., a leading global provider of digital power products and solutions, launched the FusionSolar C&I OASIS Solution in Malaysia, introducing the technology to the country and accelerating its green energy transition
• In July 2024, SMA Solar Technology AG, a leading Germany-based company specializing in photovoltaic (PV) system technology, delivered a solar battery storage solution to a hospital in Ukraine, ensuring a stable power supply with its integrated emergency backup feature for outages
• In July 2024, Doosan Corporation, the holding entity of the Doosan Group, partnered with the Jeju Special Self-Governing Province to advance renewable energy initiatives, including wind power and hydrogen energy projects
• In June 2024, Siemens Energy, an energy company, secured a US$ 1.5 billion contract to supply key technologies for power plants in Saudi Arabia, delivering 4 gigawatts of electricity and 25 years of maintenance support, contributing to the nation’s net-zero objectives.