The global renewable energy market size is estimated to grow from USD 1.26 trillion from 2025, to USD 4.60 trillion by 2035, at a CAGR of 12.48% during the forecast period, till 2035.
Renewable Energy Market: Growth and Trends
According to the World Economic Forum, the world has significantly increased its renewable energy capacity, which indicates the rise of renewable energy generation, that has proven to be an effective way to lessen dependency on fossil fuels and combat climate change. It is important to note that renewable energy comes from various sources, such as sunlight, wind, water, and biomass, and using these resources generates electricity without producing greenhouse gas emissions.
Some key benefits of renewable energy include being a sustainable energy source, contributing to cleaner air and water, and providing cost-efficient power generation. Notably, there is a significant increase in the use of solar energy in major industries driven by the rapid advancement of renewable technologies and growing public awareness, with wind energy also following closely behind. Interestingly, India experienced a notable increase of 8.8% in total solar power generation in the first quarter of 2024 compared to the previous year.
The renewable energy sector is becoming an essential element in the global transition towards sustainable innovation and digital progress to achieve heightened energy production. The development of offshore wind farms is gaining momentum, making use of stronger and more steady wind patterns. Furthermore, perovskite solar cells are transforming the solar energy landscape by providing greater efficiency and reduced manufacturing costs compared to conventional silicon panels, which is crucial for enhancing the efficiency of the global renewable energy market analysis.
As a result, with ongoing advancements in renewable energy technology, including the incorporation of artificial intelligence and the Internet of Things (IoT), the renewable energy market is expected to experience significant growth during this forecast period.
Report Scope
The opportunity for renewable energy market has been distributed across the following segments:
Type of Renewable Energy
- Bio Energy
- Geothermal
- Hydroelectric Power
- Solar Power
- Wind Power
- Others
Type of Application
- Commercial
- Industrial
- Residential
Type of Investment
- Government-funded projects
- Private sector investments
- Public-private partnerships
Geographical Regions
- North America
- US
- Canada
- Mexico
- Other North American countries
- Europe
- Austria
- Belgium
- Denmark
- France
- Germany
- Ireland
- Italy
- Netherlands
- Norway
- Russia
- Spain
- Sweden
- Switzerland
- UK
- Other European countries
- Asia
- China
- India
- Japan
- Singapore
- South Korea
- Other Asian countries
- Latin America
- Brazil
- Chile
- Colombia
- Venezuela
- Other Latin American countries
- Middle East and North Africa
- Egypt
- Iran
- Iraq
- Israel
- Kuwait
- Saudi Arabia
- UAE
- Other MENA countries
- Rest of the World
- Australia
- New Zealand
- Other countries
Renewable Energy Market: Key Segments
Market Share by Type of Renewable Energy
Based on the type of renewable energy, the global renewable energy market is segmented into bio energy, geothermal, hydroelectric power, solar power, wind power and others. According to estimates, currently, solar power segment captures the majority share of the market.
Additionally, this sector is anticipated to grow at a relatively higher CAGR during the forecast period. This can be attributed to several factors, including decreasing costs, technological advancements that improve efficiency and accessibility, and its established presence in countries like the US and China.
Market Share by Type of Application
Based on the type of application, the renewable energy market is segmented into commercial, industrial and residential. According to estimates, currently, the industrial sector captures the majority of the market. Additionally, this sector is anticipated to grow at a relatively higher CAGR during the forecast period. This can be attributed to the increasing demand for renewable energy sources from industrial players aiming to lower carbon emissions and cut operational expenses, along with technological advancements.
Market Share by Type of Investment
Based on type of investment, the renewable energy market is segmented into government-funded projects, private sector investments and public-private partnerships. According to estimates, currently, private sector investments segment captures the majority share of the market. Additionally, this sector is anticipated to grow at a relatively higher CAGR during the forecast period.
This can be attributed to the technological advancements in renewable energy that have significantly reduced costs; further, private sector investments tend to be more agile and responsive to market needs compared to government-funded initiatives.
Market Share by Type of Enterprise
Based on type of enterprise, the renewable energy market is segmented into large and small and medium enterprise. According to estimates, currently, large-scale farms captures the majority share of the market. Additionally, this sector is anticipated to grow at a relatively higher CAGR during the forecast period. This can be attributed to its ability to invest in state-of-the-art renewable energy generation technologies and methods, take advantage of government programs, enhance economies of scale, and promote business expansion.
Market Share by Geographical Regions
Based on geographical regions, the renewable energy market is segmented into North America, Europe, Asia, Latin America, Middle East and North Africa, and Rest of the World. According to estimates, currently, Asia captures the majority share of the market. Additionally, this market in this region is anticipated to grow at a relatively higher CAGR during the forecast period. This can be attributed to abundant capacity for solar and wind energy, supportive government policies and investments, rapid population growth, and escalated energy demand in nations such as China and India.
Renewable Energy Market: Research Coverage
The report on the renewable energy market features insights on various sections, including:
- Market Sizing and Opportunity Analysis: An in-depth analysis of the renewable energy market, focusing on key market segments, including [A] type of renewable energy, [B] type of application, [C] type of investment, [D] types of enterprise [E] geographical regions.
- Competitive Landscape: A comprehensive analysis of the companies engaged in the renewable energy market, based on several relevant parameters, such as [A] year of establishment, [B] company size, [C] location of headquarters and [D] ownership structure.
- Company Profiles: Elaborate profiles of prominent players engaged in the renewable energy market, providing details on [A] location of headquarters, [B]company size, [C] company mission, [D] company footprint, [E] management team, [F] contact details, [G] financial information, [H] operating business segments, [I] renewable energy portfolio, [J] moat analysis, [K] recent developments, and an informed future outlook.
- Megatrends: An evaluation of ongoing megatrends in renewable energy industry.
- Patent Analysis: An insightful analysis of patents filed / granted in the Renewable energy domain, based on relevant parameters, including [A] type of patent, [B] patent publication year, [C] patent age and [D] leading players.
- Recent Developments: An overview of the recent developments made in the renewable energy market, along with analysis based on relevant parameters, including [A] year of initiative, [B] type of initiative, [C] geographical distribution and [D] most active players.
- Porter’s Five Forces Analysis: An analysis of five competitive forces prevailing in the renewable energy market, including threats of new entrants, bargaining power of buyers, bargaining power of suppliers, threats of substitute products and rivalry among existing competitors.
- SWOT Analysis: An insightful SWOT framework, highlighting the strengths, weaknesses, opportunities and threats in the domain. Additionally, it provides Harvey ball analysis, highlighting the relative impact of each SWOT parameter.
Sample Players in Renewable Energy Market Profiled in the Report Include
- ABB
- Acconia
- Canadian Solar
- EDP Renováveis
- Enel Spa
- Engie
- General Electric
- Iberdrola
- Innergex
- Invenergy
- National Grid Renewables
- NextEra Energy
- Orsted
- Schneider Electric
- Siemens
- Suzlon Energy
- Tata Power
- Xcel Energy
Key Questions Answered in this Report
- How many companies are currently engaged in renewable energy market?
- Which are the leading companies in this market?
- What factors are likely to influence the evolution of this market?
- What is the current and future market size?
- What is the CAGR of this market?
- How is the current and future market opportunity likely to be distributed across key market segments?
Reasons to Buy this Report
- The report provides a comprehensive market analysis, offering detailed revenue projections of the overall market and its specific sub-segments. This information is valuable to both established market leaders and emerging entrants.
- Stakeholders can leverage the report to gain a deeper understanding of the competitive dynamics within the market. By analyzing the competitive landscape, businesses can make informed decisions to optimize their market positioning and develop effective go-to-market strategies.
- The report offers stakeholders a comprehensive overview of the market, including key drivers, barriers, opportunities, and challenges. This information empowers stakeholders to stay abreast of market trends and make data-driven decisions to capitalize on growth prospects.
Additional Benefits
- Complimentary Excel Data Packs for all Analytical Modules in the Report
- 10% Free Content Customization
- Detailed Report Walkthrough Session with Research Team
- Free Updated report if the report is 6-12 months old or older
This product will be updated with the latest data at the time of order. Consequently, dispatch time for this product will be 7-10 business days.
Table of Contents
SECTION I: REPORT OVERVIEW
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- ABB
- Acconia
- Canadian Solar
- EDP Renováveis
- Enel Spa
- Engie
- General Electric
- Iberdrola
- Innergex
- Invenergy
- National Grid Renewables
- NextEra Energy
- Orsted
- Schneider Electric
- Siemens
- Suzlon Energy
- Tata Power
- Xcel Energy
Methodology
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