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Asia Pacific Renewable Energy Market

Asia Pacific Renewable Energy Market Analysis, Forecast: By Type: Hydropower, Wind, Solar, Bio Energy, Solid Biofuels; Regional Analysis; Market Dynamics: SWOT Analysis, Porter’s Five Forces Analysis, Key Indicators for Demand, Key Indicators for Price; Value Chain Analysis; Competitive Landscape; 2024-2032

Asia Pacific Renewable Energy Market Outlook

The Asia Pacific renewable energy market is the fastest growing market and has also emerged as the largest market. The region accounts for almost 30% of the global market. Globally, almost 5,393.64 gigawatts of renewable energy was installed in 2023.

 

Asia Pacific Renewable Energy Market

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Within the Asia Pacific region, China and India account for the largest capacity, accounting for three-fourth of the region’s renewable energy capacity due to the high number of projects. These developing countries are investing in more geothermal energy production as it is better as well as cost affordable. Almost 80% of the wind energy potential is focussed in Asia. Japan also generates a considerable amount of renewable energy. China and India together have the largest capacity for photovoltaics (PV) technologies, which are expected to grow more in the coming years. The capacity for wind energy production is likely to grow more in the emerging Asian countries, especially in Thailand and Korea.

China is the leading country in terms of solar power generation as well as wind energy capacity. It accounts for around 696 gigawatts of renewable energy, whereas India holds nearly 118 gigawatts. China is the leading country in most of the production technologies, namely solar, wind, and hydropower. The country’s changing policies in order to reduce pollution caused by coal and other carbon emissions is aiding the rising demand for sustainable power sources in the region. China’s capacity increased by 10% in 2018. Programs like the Green Certificate Program, VAT Refund Policy, and tax discounts have helped the growth of industry in China.

India is another major country in the region where the market for renewable energy is growing due to increasing industrial tariffs and restrictions and the high number of power plants. Solar energy is the preferred technology in India due to its low system cost. Solar power grew by around 50% in 2018 as compared to the previous year. The country’s government has set targets for renewable energy, aiming to reach 175 gigawatts of sustainable power production by 2023. The industry is being supported by policies like feed-in-tariff as well as output-based incentives.

 

Properties and Applications

Renewable energy refers to the power obtained from renewable resources that are naturally replenished on a human scale, such as sunlight, wind, rain, tides, waves, and geothermal heat. It also provides energy in four key areas: electricity generation, air and water heating/cooling, transport, and rural (off-grid) energy services.

 

Asia Pacific Renewable Energy Market By Duel Source

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Based on types, the market can be divided into:

  • Hydropower
  • Wind
  • Solar
  • Bio Energy
  • Solid Biofuels

Based on the fuel source for electricity generation, the regional market can be segmented into the following:

  • Natural Gas
  • Coal
  • Nuclear
  • Renewables
  • Others

The EMR report also covers the regional markets like China, Japan, India, and Australia, among others.

 

Asia Pacific Renewable Energy Market By Region

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Market Analysis

The Asia Pacific renewable energy market is being supported by the growing consciousness among consumers about environmental pollution and the damage caused by harmful emissions. The damage caused by oil, natural gas, and coal is leading to an increased need to shift to sustainable power sources. The increasing environmental damage is leading to more governments adopting sustainable development plans and regulations. All these factors are leading to the growth of the sustainable energy market.

In the Asia Pacific region, the demand is majorly being driven due to increased sourcing locations. The region has high growth potential, especially in India and China. The growing economies of Asian countries are also supporting the growth of the industry. The growing economies are aiding the nations to invest more in renewable resources expansion to save resources like electricity and to minimise environmental damage.

Favourable government policies in the region, especially in India and China, are major drivers for the growth of the Asia Pacific market. In China, certain policies have been introduced by the Chinese government to encourage the production and adoption of sustainable power sources. In India, the expansion of production plants from the industries, as well as increased industrial tariffs, has led to the growth of the industry in the country.

 

Competitive Landscape

The report gives a detailed analysis of the following key players in the Asia Pacific renewable energy market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

  • TBEA Sunoasis Co., Ltd.
  • Mahindra EPC Irrigation Limited
  • Tata Power Limited
  • Suzhou Talesun Solar Technologies Co., Ltd.
  • Windflow Technology Ltd.
  • Zhejiang Chint New Energy Development Co Ltd
  • Abengoa
  • Vestas Wind Systems A/S
  • Others

The comprehensive EMR report provides an in-depth assessment of the industry based on Porter’s five forces model, along with giving a SWOT analysis.

 

Key Highlights of the Report

REPORT FEATURES DETAILS
Base Year 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:

  • Type
  • Region
Breakup by Type
  • Hydropower
  • Wind
  • Solar
  • Bio Energy
  • Solid Biofuels 
Breakup by Region
  • China
  • Japan
  • India
  • Australia
Market Dynamics
  • SWOT Analysis
  • Porter's Five Forces Analysis
  • Key Indicators for Demand
  • Key Indicators for Price
Competitive Landscape
  • Market Structure
  • Company Profiles
    • Company Overview
    • Product Portfolio
    • Demographic Reach and Achievements
    • Certifications
Companies Covered
  • TBEA Sunoasis Co., Ltd.
  • Mahindra EPC Irrigation Limited
  • Tata Power Limited
  • Suzhou Talesun Solar Technologies Co., Ltd.
  • Windflow Technology Ltd.
  • Zhejiang Chint New Energy Development Co Ltd
  • Abengoa
  • Vestas Wind Systems A/S
  • Others
Report Price and Purchase Option Explore our purchase options that are best suited to your resources and industry needs.
Delivery Format Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option.

 

*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.

1    Preface
2    Report Coverage – Key Segmentation and Scope
3    Report Description

    3.1    Market Definition and Outlook
    3.2    Properties and Applications
    3.3    Market Analysis
    3.4    Key Players
4    Key Assumptions
5    Executive Summary

    5.1    Overview
    5.2    Key Drivers
    5.3    Key Developments
    5.4    Competitive Structure
    5.5    Key Industrial Trends
6    Snapshot
    6.1    Asia Pacific
7    Opportunities and Challenges in the Market
8    Global Renewable Energy Market Analysis

    8.1    Key Industry Highlights
    8.2    Global Renewable Energy Historical Market (2018-2023) 
    8.3    Global Renewable Energy Market Forecast (2024-2032)
    8.4    Global Renewable Energy Market by Region
        8.4.1    North America
        8.4.2    Europe
        8.4.3    Asia Pacific
        8.4.4    Latin America
        8.4.5    Middle East and Africa
9    Asia Pacific Renewable Energy Market Analysis
    9.1    Key Industry Highlights
    9.2    Asia Pacific Renewable Energy Historical Market (2018-2023) 
    9.3    Asia Pacific Renewable Energy Market Forecast (2024-2032)
    9.4    Asia Pacific Renewable Energy Market by Type
        9.4.1    Hydropower
            9.4.1.1    Historical Trend (2018-2023)
            9.4.1.2    Forecast Trend (2024-2032)
        9.4.2    Wind
            9.4.2.1    Historical Trend (2018-2023)
            9.4.2.2    Forecast Trend (2024-2032)
        9.4.3    Solar
            9.4.3.1    Historical Trend (2018-2023)
            9.4.3.2    Forecast Trend (2024-2032)
        9.4.4    Bio Energy
            9.4.4.1    Historical Trend (2018-2023)
            9.4.4.2    Forecast Trend (2024-2032)
        9.4.5    Solid Biofuels
            9.4.5.1    Historical Trend (2018-2023)
            9.4.5.2    Forecast Trend (2024-2032)
    9.5    Asia Pacific Renewable Energy Market by Country
        9.5.1    China
        9.5.2    Japan
        9.5.3    India
        9.5.4    Australia
        9.5.5    Others
10    Regional Analysis
    10.1    China
        10.1.1    Historical Trend (2018-2023)
        10.1.2    Forecast Trend (2024-2032)
        10.1.3    Breakup by Type
        10.1.4    Breakup by Fuel Source
    10.2    India
        10.2.1    Historical Trend (2018-2023)
        10.2.2    Forecast Trend (2024-2032)
        10.2.3    Breakup by Type 
        10.2.4    Breakup by Fuel Source
    10.3    Japan
        10.3.1    Historical Trend (2018-2023)
        10.3.2    Forecast Trend (2024-2032)
        10.3.3    Breakup by Type
        10.3.4    Breakup by Fuel Source
    10.4    Australia
        10.4.1    Historical Trend (2018-2023)
        10.4.2    Forecast Trend (2024-2032)
        10.4.3    Breakup by Type
        10.4.4    Breakup by Fuel Source
11    Market Dynamics
    11.1    SWOT Analysis
        11.1.1    Strengths
        11.1.2    Weaknesses
        11.1.3    Opportunities
        11.1.4    Threats
    11.2    Porter’s Five Forces Analysis
        11.2.1    Supplier’s Power
        11.2.2    Buyer’s Power
        11.2.3    Threat of New Entrants
        11.2.4    Degree of Rivalry
        11.2.5    Threat of Substitutes
    11.3    Key Indicators for Demand
    11.4    Key Indicators for Price
12    Value Chain Analysis
13    Competitive Landscape

    13.1    Market Structure
    13.2    Company Profiles
        13.2.1    TBEA Sunoasis Co., Ltd.
            13.2.1.1    Company Overview
            13.2.1.2    Product Portfolio
            13.2.1.3    Demographic Reach and Achievements
            13.2.1.4    Certifications
        13.2.2    Mahindra EPC Irrigation Limited
            13.2.2.1    Company Overview
            13.2.2.2    Product Portfolio
            13.2.2.3    Demographic Reach and Achievements
            13.2.2.4    Certifications
        13.2.3    Tata Power Limited
            13.2.3.1    Company Overview
            13.2.3.2    Product Portfolio
            13.2.3.3    Demographic Reach and Achievements
            13.2.3.4    Certifications
        13.2.4    Suzhou Talesun Solar Technologies Co., Ltd.
            13.2.4.1    Company Overview
            13.2.4.2    Product Portfolio
            13.2.4.3    Demographic Reach and Achievements
            13.2.4.4    Certifications
        13.2.5    Windflow Technology Ltd.
            13.2.5.1    Company Overview
            13.2.5.2    Product Portfolio
            13.2.5.3    Demographic Reach and Achievements
            13.2.5.4    Certifications
        13.2.6    Zhejiang Chint New Energy Development Co Ltd
            13.2.6.1    Company Overview
            13.2.6.2    Product Portfolio
            13.2.6.3    Demographic Reach and Achievements
            13.2.6.4    Certifications
        13.2.7    Abengoa
            13.2.7.1    Company Overview
            13.2.7.2    Product Portfolio
            13.2.7.3    Demographic Reach and Achievements
            13.2.7.4    Certifications
        13.2.8    Vestas Wind Systems A/S
            13.2.8.1    Company Overview
            13.2.8.2    Product Portfolio
            13.2.8.3    Demographic Reach and Achievements
            13.2.8.4    Certifications
        13.2.9    Others
14    Key Trends and Developments in the Market


List of Key Figures and Tables

1.    Global Renewable Energy: Key Industry Highlights, 2018 and 2032
2.    Global Renewable Energy Historical Market: Breakup by Region (Gigawatts), 2018-2023
3.    Asia Pacific Renewable Energy Market Forecast: Breakup by Region (Gigawatts), 2024-2032
4.    Asia Pacific Renewable Energy: Key Industry Highlights, 2018 and 2032
5.    Asia Pacific Renewable Energy Historical Market: Breakup by Type (Gigawatts), 2018-2023
6.    Asia Pacific Renewable Energy Market Forecast: Breakup by Type (Gigawatts), 2024-2032
7.    Asia Pacific Renewable Energy Historical Market: Breakup by Country (Gigawatts), 2018-2023
8.    Asia Pacific Renewable Energy Market Forecast: Breakup by Country (Gigawatts), 2024-2032
9.    Asia Pacific Renewable Energy Market Structure

Key Questions Answered in the Report

The Asia Pacific renewable energy market was supporting the growth of the global market for the same, which attained an installed capacity of almost 5,393.64 gigawatts in 2023.

The major market drivers include the increased sourcing locations, healthy economic growth of countries in the region, and the introduction of favourable government policies to drive sustainability.

The rising environmental concerns, the surging investment in renewable resource expansion, and the growing focus on eco-friendly development in the region are the key trends guiding the market.

The major countries in the market include China, Japan, India, and Australia, among others.

The dominant types of renewable energy in the market are hydropower, wind, solar, bio energy, and solid biofuels.

The major fuel sources of renewable energy in the market are coal, natural gas, and nuclear renewables, among others. 

The major players in the market are TBEA Sunoasis Co., Ltd., Mahindra EPC Irrigation Limited, Tata Power Limited, Suzhou Talesun Solar Technologies Co., Ltd., Windflow Technology Ltd., Zhejiang Chint New Energy Development Co Ltd, Abengoa, and Vestas Wind Systems A/S, among others.

Analyst Review

The Asia Pacific renewable energy market is supporting the development of the overall renewable energy market, which attained an installed capacity of almost 5,393.64 gigawatts in 2023. The market is being driven by favourable government policies within the Asian countries. Aided by the growing eco consciousness among consumers, the market is expected to witness a further growth in the forecast period of 2024-2032.

EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. Based on its types, the industry can be segmented into hydropower, wind, solar, bio energy, and solid biofuels. On the basis of fuel sources, the industry is divided into natural gas, coal, nuclear, renewables, and others.  The major regional markets for renewable energy in the Asia Pacific are China, Japan, India, and Australia, among others. The key players in the above market include TBEA Sunoasis Co., Ltd., Mahindra EPC Irrigation Limited, Tata Power Limited, Suzhou Talesun Solar Technologies Co., Ltd., Windflow Technology Ltd., Zhejiang Chint New Energy Development Co Ltd, Abengoa, and Vestas Wind Systems A/S, among others.

EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.

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