Renewable Energy Market Size, Share, Sales, Analysis, Forecast By Type (Hydroelectric Power, Wind Power Energy, Bioenergy, Solar Energy, Geothermal Energy, and Others), By End Use (Residential, Commercial, and Industrial), Industry Competition & Player Profiles, 2023-2032
The Global Renewable Energy Market size was estimated at US$ 750 billion and is expected to grow at a CAGR of 5.5% during 2020 and 2030. Rapidly increasing energy demand, increasing investment in renewable energy generation, declining cost of renewable energy, and government initiatives to promote green and clean energy sources are the major factors driving the growth of the global renewable energy market.
Renewable energy has been adopted as a viable alternative to the conventional power generation technologies. The electricity generated through renewable sources has contributed larger share than that of conventional power generation sources across major countries. The increased investment in the development of renewable energy generation plants has witnessed a steady growth during past decade with major growth exhibited during the past couple of years. Declining cost of renewable energy generation fueled by increased competition in the market has contributed towards the growth of global renewable energy market. The cost of technologies auxiliary to the renewable energy generation such as storage or battery modules has witnessed steady decline over past couple of years. This has fueled the adoption of renewable energy across the globe. Government initiatives to promote clean energy generation is anticipated to hamper the investment in expanding the capacity of conventional power plants. Consequently, the utility departments across the globe are expected to turn towards renewable energy for future energy requirements, thereby fueling the growth of the global renewable energy market in coming years.
Asia Pacific contributed the largest share to the global market in 2019 and is anticipated to be a dominating region throughout the forecast period owing to expanding renewable energy generation infrastructure across major countries. Asia Pacific accounts for largest share in the generation of hydroelectricity and solar power owing to the presence of sustainable infrastructure across China, India, Japan and South Korea. Presence of leading solar panel and battery manufacturers across the region is anticipated to contribute towards the growth of Asia Pacific renewable energy market during the forecast period. Europe contributed a significant share to the global renewable energy market in 2019 and is anticipated to witness prominent growth during the forecast period.
Renewable Energy Market Share Analysis, by Geography (2022)
The report titled “Renewable Energy Market", wherein 2022 is the base year, and 2023 to 2032 is forecast period. Additionally, the study takes into consideration the competitive landscape, wherein the report would provide company overview and market outlook for leading players in the global renewable energy market. Furthermore, the report would reflect the key developments, global & regional sales network, business strategies, research & development activities, employee strength, and key executive, for all the major players operating in the market.
The global renewable energy market is segmented on the basis of type, end use, and geography. Based on type, the global renewable energy market is segmented into hydroelectric power, wind power energy, bioenergy, solar energy, geothermal energy, and others. Based on end use, the global renewable energy market is segmented into residential, commercial, and industrial. Based on geography, the global renewable energy market is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America.
The research provides in-depth analysis of prominent players holding majority share of the global market with a focus on all operating business segment, and would identify the segment of the company focusing on renewable energy. Further, market share of prominent companies in the global renewable energy market would also be estimated. the study takes into consideration the key competitive information such as business strategy, product portfolio, key development, swot analysis, and research and development focus of all the renewable energy companies.
The global renewable energy market study would take into consideration the participants engaged throughout the supply chain and value chain of the market, along with their contribution. Product portfolio would focus on all the products under the renewable energy business segment of the company. Similarly, the recent development section would focus on the latest developments of company such as strategic alliances and partnerships, merger and acquisition, new product launched and geographic expansion in the global renewable energy market.
Major players active in the global renewable energy market include ABB, Acciona, S.A., EDF Energy, Enel S.p.A., General Electric Company, Geronimo Energy, LLC, Innergex, Invenergy LLC, THE TATA POWER COMPANY LIMITED, and Xcel Energy Inc.
Segmentation
By Type:
- Hydroelectric power
- Wind power energy
- Bioenergy
- Solar energy
- Geothermal energy
- Others
By End Use
- Residential
- Commercial
- Industrial
By Geography
- North America
- United States
- Canada
- Rest of North America
- Europe
- Germany
- United Kingdom
- Belgium
- Spain
- Rest of Europe
- Asia Pacific
- Japan
- India
- China
- Australia
- Rest of Asia Pacific
- Middle East & Africa
- UAE
- Saudi Arabia
- Rest of Middle East & Africa
- South America
- Brazil
- Rest of South America
- Introduction
- Research Objectives
- Report Assumptions
- Research Methodology
- Abbreviations
- Preface
- Market Definition
- Report Scope and Market Segmentation
- Research Highlights
- Market Synopsis: Global Renewable Energy Market
- Global Renewable Energy Market Qualitative Analysis
- Ecosystem Analysis
- Role of participants
- Integration scenario
- Trends
- Market trends
- Technology Trends
- PESTLE Analysis (For 5 prominent countries)
- Market Influencers
- Driving Forces
- Hindering Forces
- Opportunities
- COVID-19 consequences
- Installed Renewable Energy Capacity (Gigawatts), by Country, 2021
- China
- United States
- Japan
- India
- Canada
- Brazil
- Italy
- Russia
- France
- Germany
- Major Projects Announced, by Region
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- South America
- Ecosystem Analysis
- Global Renewable Energy Market Analysis and Forecast, by Source Type
- Overview and definitions
- Key segment analysis
- Global Renewable Energy Market Size Estimates (US$ Mn), by Source Type, 2019 – 2032
- Solar energy
- Wind energy
- Hydro energy
- Tidal energy
- Geothermal energy
- Biomass energy
- Global Renewable Energy Market Analysis and Forecast, by End Use
- Overview and definitions
- Key segment analysis
- Global Renewable Energy Market Size Estimates (US$ Mn), by End Use, 2019 – 2032
- Residential
- Commercial
- Industrial
- Global Renewable Energy Market Analysis and Forecast, by Region
- Overview and definitions
- Key segment analysis
- Global Renewable Energy Market Size Estimates (US$ Mn), by Region, 2019 – 2032
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- South America
- North America Renewable Energy Market Analysis and Forecast
- Overview and definitions
- Key segment analysis
- North America Renewable Energy Market Size Estimates (US$ Mn), by Source Type, 2019 – 2032
- Solar energy
- Wind energy
- Hydro energy
- Tidal energy
- Geothermal energy
- Biomass energy
- North America Renewable Energy Market Size Estimates (US$ Mn), by End Use, 2019 – 2032
- Residential
- Commercial
- Industrial
- North America Renewable Energy Market Size Estimates (US$ Mn), Country, 2019 – 2032
- The U.S.
- Canada
- Rest of North America
- Europe Renewable Energy Market Analysis and Forecast
- Overview and definitions
- Key segment analysis
- Europe Renewable Energy Market Size Estimates (US$ Mn), by Source Type, 2019 – 2032
- Solar energy
- Wind energy
- Hydro energy
- Tidal energy
- Geothermal energy
- Biomass energy
- Europe Renewable Energy Market Size Estimates (US$ Mn), by End Use, 2019 – 2032
- Residential
- Commercial
- Industrial
- Europe Renewable Energy Market Size Estimates (US$ Mn), Country, 2019 – 2032
- Germany
- United Kingdom
- Italy
- France
- Spain
- Rest of Europe
- Asia Pacific Renewable Energy Market Analysis and Forecast
- Overview and definitions
- Key segment analysis
- Asia Pacific Renewable Energy Market Size Estimates (US$ Mn), by Source Type, 2019 – 2032
- Solar energy
- Wind energy
- Hydro energy
- Tidal energy
- Geothermal energy
- Biomass energy
- Asia Pacific Renewable Energy Market Size Estimates (US$ Mn), by End Use, 2019 – 2032
- Residential
- Commercial
- Industrial
- Asia Pacific Renewable Energy Market Size Estimates (US$ Mn), Country, 2019 – 2032
- Japan
- India
- China
- Thailand
- Australia
- Rest of Asia Pacific
- Middle East & Africa Renewable Energy Market Analysis and Forecast
- Overview and definitions
- Key segment analysis
- Middle East & Africa Renewable Energy Market Size Estimates (US$ Mn), by Source Type, 2019 – 2032
- Solar energy
- Wind energy
- Hydro energy
- Tidal energy
- Geothermal energy
- Biomass energy
- Middle East & Africa Renewable Energy Market Size Estimates (US$ Mn), by End Use, 2019 – 2032
- Residential
- Commercial
- Industrial
- Middle East & Africa Renewable Energy Market Size Estimates (US$ Mn), Country, 2019 – 2032
- Saudi Arabia
- UAE
- Rest of Middle East
- South America Renewable Energy Market Analysis and Forecast
- Overview and definitions
- Key segment analysis
- South America Renewable Energy Market Size Estimates (US$ Mn), by Source Type, 2019 – 2032
- Solar energy
- Wind energy
- Hydro energy
- Tidal energy
- Geothermal energy
- Biomass energy
- South America Renewable Energy Market Size Estimates (US$ Mn), by End Use, 2019 – 2032
- Residential
- Commercial
- Industrial
- South America Renewable Energy Market Size Estimates (US$ Mn), Country, 2019 – 2032
- Brazil
- Rest of South America
- Competition Analysis – Renewable Energy Market
- Market Composition
- Market Share Analysis (%), by Supplier (2022)
- Company Profiles
- ABB
- Business overview
- Geographic presence
- Offerings portfolio
- Financial facts
- Channel partners
- Relevant news and strategic view
- Acciona, S.A.
- EDF Energy
- Enel S.p.A.
- Looop Inc.
- General Electric Company
- Geronimo Energy, LLC
- Innergex
- Invenergy LLC
- THE TATA POWER COMPANY LIMITED
- Xcel Energy Inc.
- ABB
- Conclusion & Recommendations
Frequently asked questions about this report
How big is the Renewable Energy Market?
The global Renewable Energy market was worth US$ 750 billion in 2020.
What is the estimated growth rate of Renewable Energy Market?
The global Renewable Energy market is expected to register a CAGR of 5.5% between 2022 and 2032.
Which prime Renewable Energy players are profiled in this analysis?
Key vmarket players are ABB, Acciona, S.A., EDF Energy, Enel S.p.A., General Electric Company, Geronimo Energy, LLC, Innergex, Invenergy LLC, THE TATA POWER COMPANY LIMITED and others.
What are the end-use segments in the Renewable Energy market?
The end-use segments in Renewable Energy market are Residential, Commercial and Industrial.