The global renewable energy market was valued at $928.0 Billion in 2017, and is expected to reach $1,512.3 Billion by 2025, registering a CAGR of 6.1% from 2018 to 2025. Renewable energy technologies use natural sources such as wind, solar, water, and others, to transform these sources into usable forms of energy such as electricity, and mechanical energy.
Factors contributing toward growth of the renewable energy market are volatile nature of fossil fuels and rise in stringent government regulations for reduction of greenhouses gas emissions. However, high cost of renewable energy infrastructure is anticipated to hamper the growth during the forecast period. On the contrary, rise in government funding in the renewable energy sector is expected to offer lucrative growth opportunities.
The global renewable energy market is segmented into type, end use, and region. Based on type, the market is divided into hydroelectric power, wind power, bioenergy, solar energy, and geothermal energy. Based on end use, the market is categorized into residential, commercial, industrial, and others. Based on region, the renewable energy market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The renewable energy market analysis covers in-depth information of the major industry participants. Some of the major manufacturers profiled in the report include ABB Ltd., General Electric (GE), The Tata Power Company Limited (Tata Power), Innergex, Enel Spa (Enel), Xcel Energy Inc. (Xcel Energy), EDF, Geronimo Energy, Invenergy, and ACCIONA.
Other players in the value chain of the market includes Vestas Wind Systems A/S, UpWind Solutions, Inc., Senvion S.A., and Sinovel Wind Group Co., Ltd. ENERCON GmbH.
Key Benefits for Stakeholders
- The report provides an extensive qualitative and quantitative analysis of the current trends and future estimations of the renewable energy market from 2018 to 2025 to determine the prevailing opportunities.
- A comprehensive analysis of the factors that drive and restrict the growth of the market is provided.
- The renewable energy market size is provided in terms of value and volume.
- The renewable energy market forecast is studied from 2018 to 2025.
- Porter’s five forces analysis helps analyse the potential of the buyers & suppliers and the competitive scenario of the renewable energy industry for strategy building.
- Profiles of leading players operating in the market are provided to understand the competitive scenario.
- The report provides extensive qualitative insights on the significant segments and regions exhibiting favorable market growth