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In 2022, the global market for renewable energy was estimated to be worth $1.9 trillion. During the forecast period (2022-2030), the value of the renewable energy market industry is expected to increase from USD 1.8 trillion in 2022 to USD 2.6 Trillion by 2030, at a CAGR of 11.10%. Concerns about lowering greenhouse gas emissions, a surge in the search for electricity security, hostility to conventional nuclear energy, and a lack of innovation in nuclear power application are seen as potential market drivers over the projected period.
Renewable energy is energy that can be replenished, such as that produced by the wind or the sun. Some of the most common types of renewable energy come from the sun, the wind, bioenergy, water, and the sea. Renewable sources of energy are already being used in the transportation, heating and cooling industries. Roughly 7 percent of global energy consumption is met by renewable sources. The cost of renewable energy is higher than that of fossil fuels. Global warming attributed to carbon dioxide (CO2) emission from the combustion of fossil fuels is the most important factor driving the use of renewable energies. Demand for geothermal power is expected to rise during the forecast period on the back of rising concerns about reducing greenhouse gas emissions, a rise in the search for energy security, and an aversion to conventional nuclear power. Increased output efficiency, less pollution, and cheap maintenance costs have made renewable energy sources a priority for governments in both developing and industrialised nations. As a result of all these factors, the worldwide renewable energy market is expanding at a rapid rate.
The great availability of biomass feedstock in the United States is a major factor propelling the renewable energy sector. In response to the government's strict rules on emissions, more renewable energy plants have been built across the country. As gas and renewable energy become more widely used, the power landscape in the country is shifting away from its historic reliance on coal. End-users are predicted to migrate towards installing hydropower systems due to the rising electricity distribution costs, power outages caused by problems in the main grid, and incentive programmes implemented by the U.S. government. The need for renewable energy is anticipated to increase as a result of this. Germany has an advanced economy and is a major player on the European market.
To become more energy independent and less reliant on conventional sources like crude oil, coal, and others, the country has invested in unconventional power production technologies in recent years. The market for solar power generating has expanded fast over the past few years, and similar expansion is anticipated throughout the projection period as a result of the substantial sums being invested in renewable power generation. Forecasts indicate that Germany's expanding solar industry will be a key driver of the solar market over the next few years. It's a homegrown power plant, so any country can produce its own electricity without having to import fuel from abroad. It may prevent flooding, provide safe drinking water, help with irrigation, generate cheap electricity, and last for quite some time in comparison to other energy options.
Wind, hydropower, solar, geothermal, and bioenergy are just a few examples of renewable energy sources. Currently, renewable energy is responsible for meeting just around 7 percent of the world's energy consumption. It is anticipated that this percentage will rise dramatically in the near future. The major factors that are expected to foster the growth of the global renewable energy market are the increasing awareness of the harmful effects of fossil fuels on the environment, the increasing government initiatives to promote the adoption of clean and green energy, the increasing public and private efforts to curb carbon emission, and the growing adoption of the green energy among the consumers. Demand for renewable energy sources like geothermal energy and solar energy is predicted to increase over the forecast period as industrialization and urbanisation spread throughout developing countries around the world. The growing competitiveness of battery storage systems has a favourable effect on the expansion of the renewable energy sector, while falling costs of renewable energy are a direct outcome of technological advancements. Large sums of money are being poured towards the widespread adoption of renewable energy sources in response to growing global concerns about climate change and environmental, social, and governance issues. In an effort to promote sustainability and preserve the environment, governments in both established and emerging economies are providing subsidies to the corporate sector to encourage a move towards clean and green energy. These elements play a significant role in driving the global renewable energy market forward.
Report Coverage
Global Renewable Energy research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Renewable Energy report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Renewable Energy competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Renewable Energy market players and analyses their core competencies in each global market sub-segments.
Key Points Covered in the Report
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Renewable Energy market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Renewable Energy market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
ABB Ltd., General Electric (GE), The Tata Power Company Limited (Tata Power), Innergex, Enel Spa (Enel), Xcel Energy Inc. (Xcel Energy)
Primary Target Market
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Renewable Energy market based on the below-mentioned segments:
Global Renewable Energy Market, By Type
Hydropower
WIND ENERGY
Solar Energy
Bioenergy
Geothermal Energy
Ocean Energy
Global Renewable Energy Market, By End User
Industrial
Residential
Commercial
Global Renewable Energy market, Regional Analysis
Renewable energy is energy that can be replenished, such as that produced by the wind or the sun. Some of the most common types of renewable energy come from the sun, the wind, bioenergy, water, and the sea. Renewable sources of energy are already being used in the transportation, heating and cooling industries. Roughly 7 percent of global energy consumption is met by renewable sources. The cost of renewable energy is higher than that of fossil fuels. Global warming attributed to carbon dioxide (CO2) emission from the combustion of fossil fuels is the most important factor driving the use of renewable energies. Demand for geothermal power is expected to rise during the forecast period on the back of rising concerns about reducing greenhouse gas emissions, a rise in the search for energy security, and an aversion to conventional nuclear power. Increased output efficiency, less pollution, and cheap maintenance costs have made renewable energy sources a priority for governments in both developing and industrialised nations. As a result of all these factors, the worldwide renewable energy market is expanding at a rapid rate.
The great availability of biomass feedstock in the United States is a major factor propelling the renewable energy sector. In response to the government's strict rules on emissions, more renewable energy plants have been built across the country. As gas and renewable energy become more widely used, the power landscape in the country is shifting away from its historic reliance on coal. End-users are predicted to migrate towards installing hydropower systems due to the rising electricity distribution costs, power outages caused by problems in the main grid, and incentive programmes implemented by the U.S. government. The need for renewable energy is anticipated to increase as a result of this. Germany has an advanced economy and is a major player on the European market.
To become more energy independent and less reliant on conventional sources like crude oil, coal, and others, the country has invested in unconventional power production technologies in recent years. The market for solar power generating has expanded fast over the past few years, and similar expansion is anticipated throughout the projection period as a result of the substantial sums being invested in renewable power generation. Forecasts indicate that Germany's expanding solar industry will be a key driver of the solar market over the next few years. It's a homegrown power plant, so any country can produce its own electricity without having to import fuel from abroad. It may prevent flooding, provide safe drinking water, help with irrigation, generate cheap electricity, and last for quite some time in comparison to other energy options.
Wind, hydropower, solar, geothermal, and bioenergy are just a few examples of renewable energy sources. Currently, renewable energy is responsible for meeting just around 7 percent of the world's energy consumption. It is anticipated that this percentage will rise dramatically in the near future. The major factors that are expected to foster the growth of the global renewable energy market are the increasing awareness of the harmful effects of fossil fuels on the environment, the increasing government initiatives to promote the adoption of clean and green energy, the increasing public and private efforts to curb carbon emission, and the growing adoption of the green energy among the consumers. Demand for renewable energy sources like geothermal energy and solar energy is predicted to increase over the forecast period as industrialization and urbanisation spread throughout developing countries around the world. The growing competitiveness of battery storage systems has a favourable effect on the expansion of the renewable energy sector, while falling costs of renewable energy are a direct outcome of technological advancements. Large sums of money are being poured towards the widespread adoption of renewable energy sources in response to growing global concerns about climate change and environmental, social, and governance issues. In an effort to promote sustainability and preserve the environment, governments in both established and emerging economies are providing subsidies to the corporate sector to encourage a move towards clean and green energy. These elements play a significant role in driving the global renewable energy market forward.
Report Coverage
Global Renewable Energy research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Renewable Energy report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Renewable Energy competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Renewable Energy market players and analyses their core competencies in each global market sub-segments.
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| Study Period | 2017-2030 |
| Base Year | 2022 |
| Forecast Period | 2022-2030 |
| Historical Period | 2017-2021 |
| Unit | Value (USD Billion) |
| Key Companies Profiled | ABB Ltd., General Electric (GE), The Tata Power Company Limited (Tata Power), Innergex, Enel Spa (Enel), Xcel Energy Inc. (Xcel Energy) |
| Segments Covered | • By Product |
| Customization Scope | Free report customization (equivalent to up to 3 analyst working days) with purchase. Addition or alteration to country, regional & segment scope |
Key Points Covered in the Report
- Market Revenue of Renewable Energy Market from 2021 to 2030.
- Market Forecast for Renewable Energy Market from 2021 to 2030.
- Regional Market Share and Revenue from 2021 to 2030.
- Country Market share within region from 2021 to 2030.
- Key Type and Application Revenue and forecast.
- Company Market Share Analysis, Renewable Energy competitive scenario, ranking, and detailed company
profiles. - Market driver, restraints, and detailed COVID-19 impact on Renewable Energy
Market
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Renewable Energy market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Renewable Energy market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
ABB Ltd., General Electric (GE), The Tata Power Company Limited (Tata Power), Innergex, Enel Spa (Enel), Xcel Energy Inc. (Xcel Energy)
Primary Target Market
- Market Players of Renewable Energy
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Third-party knowledge providers
- Value-Added Resellers (VARs)
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Renewable Energy market based on the below-mentioned segments:
Global Renewable Energy Market, By Type
Hydropower
WIND ENERGY
Solar Energy
Bioenergy
Geothermal Energy
Ocean Energy
Global Renewable Energy Market, By End User
Industrial
Residential
Commercial
Global Renewable Energy market, Regional Analysis
- Europe: Germany, Uk, France, Italy, Spain, Russia, Rest of Europe
- The Asia Pacific: China,Japan,India,South Korea,Australia,Rest of Asia Pacific
- South America: Brazil, Argentina, Rest of South America
- Middle East & Africa: UAE, Saudi Arabia, Qatar, South Africa, Rest of Middle East & Africa
About This Research
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