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Renewable Energy Market

Global Renewable Energy Market Size, Share, Growth: By Type: Solar, Wind, Hydro, Biomass, Geothermal; Regional Analysis; Market Dynamics: SWOT Analysis, Porter’s Five Forces Analysis, Key Indicators for Demand, Key Indicators for Price; Value Chain Analysis; Competitive Landscape; Key Trends and Developments in the Market; 2024-2032

Global Renewable Energy Market Outlook

The renewable energy market in North America is supporting the growth of the global renewable energy market. Globally, more than 3290.80 gigawatts of renewable energy were installed in 2023. The global installations are expected to further grow at a CAGR of 7.6% between 2024 to 2032, which would aid the market in North America.

 

Global Renewable Energy Market

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With the growing awareness about environmental issues, more and more nations are investing in renewable energy projects. The global investments made in such renewable resources was around USD 280 billion in 2017. Hydropower is the leading renewable energy technology in most of the regions. However, in the coming years, solar and wind energies are going to be the preferred alternative energy types. In 2018, many countries invested in renewable energy projects, with China investing the most substantial amount, having invested in the projects of nearly 696 gigawatts. China is followed by countries like the United States, Brazil, Germany, and India. China dominates the industry in three technologies, namely, wind, hydropower, and solar energy. Brazil, meanwhile, has the largest capacity installed for bioenergy, whereas the United States is the leading country in geothermal technology.

North America is one of the largest countries with installed renewable energy technologies. In the region, the United States aims to increase its contribution to the industry to 30% by 2026 as currently, the country’s electricity market is powered by fossil fuels. The growing economy of the country is also supporting the growth of the industry. Mexico and Canada are also witnessing a steady increase in the capacity of wind and solar energy technologies.

The Asia Pacific is the fastest-growing region for the industry. The region accounts for nearly 27% of the global industry share. China, one of the significant countries in the regional market, has the largest capacity for hydropower, wind, and solar energy plants. China and India, together, are the leading renewable energy markets in Asia, with nearly 75% installed capacity of the Asian market being within these regions. Japan follows India and China in terms of installed capacity. Hydropower is the leading resource in the region, with offshore wind and the solar area being the most exploited renewable resources in Asia. The capacity of this region is expected to witness a robust growth in the coming years.

 

Properties and Applications

Renewable energy is obtained from renewable sources, which are naturally replenishable like wind, biomass, solar, hydropower, etc. It provides energy to segments like electricity, transport, air and water cooling or heating, and other energy services.

 

Global Renewable Energy Market By Type

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On the basis of types, the industry can be divided into:

  • Solar
  • Wind
  • Hydro
  • Biomass
  • Geothermal

The EMR report also covers the regional markets like North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

 

Global Renewable Energy Market By Region

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Market Analysis

The global renewable market is being driven by the increasing awareness and climate changes caused by fossil fuels and conventional energy resources such as oil, coal, and natural gas. The pollution caused by the burning of fossil fuels is causing severe damage to the environment and, thus, resulting in rapid climate change and increasing the need for renewable alternatives. The rising demand witnessed by the industry is being aided by the growing focus on sustainable development since natural resources witnessing a rapid depletion. The increased support by governments globally in the form of tax relief and other benefits for the installation and use of such alternative energy sources, as well as the increasing awareness about green energy among the consumer, is propelling the industry growth further.

The rising economies and installation in emerging economies like India and China are providing further impetus for the industry growth. Governments across the globe are now increasingly investing more in renewable energy plants in order to save electricity and restrict environmental hazards. In the coming years, the industry is expected to be driven by the rising adoption and acceptance of alternative energy sources. The rising innovations within the industry are also expected to propel the industry growth in the forecast period. The increasing parity in the prices of alternative energy to conventional energy is further projected to drive the industry globally.

 

Competitive Landscape

September 2020- Vestas (OTCMKTS: VWDRY) to scale down the production of the V136 blade in Europe and invest in other types of blades such as V117 and V150 due to shifting market demand.

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

  • First Solar, Inc.
  • Suzlon Energy Ltd.
  • Vestas Wind Systems A/S
  • Conergy Energy Systems
  • Senvion S.A.
  • Ørsted A/S
  • Vattenfall AB
  • JinkoSolar Holding Co., Ltd
  • Tata Power Solar Systems Ltd.
  • Enel Green Power S.p.A.
  • 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
  • Solar
  • Wind
  • Hydro
  • Biomass
  • Geothermal
Breakup by Region
  • North America
    • United States of America 
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Italy
    • Others
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Australia
    • Others
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • United Arab Emirates
    • Nigeria
    • South Africa
    • Others
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
  • First Solar, Inc.
  • Suzlon Energy Ltd.
  • Vestas Wind Systems A/S
  • Conergy Energy Systems
  • Senvion S.A.
  • Ørsted A/S
  • Vattenfall AB
  • JinkoSolar Holding Co., Ltd
  • Tata Power Solar Systems Ltd.
  • Enel Green Power S.p.A.
  • 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    Global
    6.2    Regional
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 Type
        8.4.1    Solar
            8.4.1.1    Historical Trend (2018-2023)
            8.4.1.2    Forecast Trend (2024-2032)
        8.4.2    Wind
            8.4.2.1    Historical Trend (2018-2023)
            8.4.2.2    Forecast Trend (2024-2032)
        8.4.3    Hydro
            8.4.3.1    Historical Trend (2018-2023)
            8.4.3.2    Forecast Trend (2024-2032)
        8.4.4    Biomass
            8.4.4.1    Historical Trend (2018-2023)
            8.4.4.2    Forecast Trend (2024-2032)
        8.4.5    Geothermal
            8.4.5.1    Historical Trend (2018-2023)
            8.4.5.2    Forecast Trend (2024-2032)   
    8.5    Global Renewable Energy Market by Region
        8.5.1    North America
            8.5.1.1    Historical Trend (2018-2023) 
            8.5.1.2    Forecast Trend (2024-2032)
        8.5.2    Europe
            8.5.2.1    Historical Trend (2018-2023) 
            8.5.2.2    Forecast Trend (2024-2032)
        8.5.3    Asia Pacific
            8.5.3.1    Historical Trend (2018-2023) 
            8.5.3.2    Forecast Trend (2024-2032)
        8.5.4    Latin America
            8.5.4.1    Historical Trend (2018-2023) 
            8.5.4.2    Forecast Trend (2024-2032)
        8.5.5    Middle East and Africa
            8.5.5.1    Historical Trend (2018-2023) 
            8.5.5.2    Forecast Trend (2024-2032)
9    North America Renewable Energy Market Analysis
    9.1    United States of America 
        9.1.1    Historical Trend (2018-2023) 
        9.1.2    Forecast Trend (2024-2032)
    9.2    Canada
        9.2.1    Historical Trend (2018-2023) 
        9.2.2    Forecast Trend (2024-2032)
10    Europe Renewable Energy Market Analysis
    10.1    United Kingdom
        10.1.1    Historical Trend (2018-2023) 
        10.1.2    Forecast Trend (2024-2032)
    10.2    Germany
        10.2.1    Historical Trend (2018-2023) 
        10.2.2    Forecast Trend (2024-2032)
    10.3    France
        10.3.1    Historical Trend (2018-2023) 
        10.3.2    Forecast Trend (2024-2032)
    10.4    Italy
        10.4.1    Historical Trend (2018-2023) 
        10.4.2    Forecast Trend (2024-2032)
    10.5    Others
11    Asia Pacific Renewable Energy Market Analysis
    11.1    China
        11.1.1    Historical Trend (2018-2023) 
        11.1.2    Forecast Trend (2024-2032)
    11.2    Japan
        11.2.1    Historical Trend (2018-2023) 
        11.2.2    Forecast Trend (2024-2032)
    11.3    India
        11.3.1    Historical Trend (2018-2023) 
        11.3.2    Forecast Trend (2024-2032)
    11.4    ASEAN
        11.4.1    Historical Trend (2018-2023) 
        11.4.2    Forecast Trend (2024-2032)
    11.5    Australia
        11.5.1    Historical Trend (2018-2023) 
        11.5.2    Forecast Trend (2024-2032)
    11.6    Others
12    Latin America Renewable Energy Market Analysis
    12.1    Brazil
        12.1.1    Historical Trend (2018-2023) 
        12.1.2    Forecast Trend (2024-2032)
    12.2    Argentina
        12.2.1    Historical Trend (2018-2023) 
        12.2.2    Forecast Trend (2024-2032)
    12.3    Mexico
        12.3.1    Historical Trend (2018-2023) 
        12.3.2    Forecast Trend (2024-2032)
    12.4    Others
13    Middle East and Africa Renewable Energy Market Analysis
    13.1    Saudi Arabia
        13.1.1    Historical Trend (2018-2023) 
        13.1.2    Forecast Trend (2024-2032)
    13.2    United Arab Emirates
        13.2.1    Historical Trend (2018-2023) 
        13.2.2    Forecast Trend (2024-2032)
    13.3    Nigeria
        13.3.1    Historical Trend (2018-2023) 
        13.3.2    Forecast Trend (2024-2032)
    13.4    South Africa
        13.4.1    Historical Trend (2018-2023) 
        13.4.2    Forecast Trend (2024-2032)
    13.5    Others
14    Market Dynamics
    14.1    SWOT Analysis
        14.1.1    Strengths
        14.1.2    Weaknesses
        14.1.3    Opportunities
        14.1.4    Threats
    14.2    Porter’s Five Forces Analysis
        14.2.1    Supplier’s Power
        14.2.2    Buyer’s Power
        14.2.3    Threat of New Entrants
        14.2.4    Degree of Rivalry
        14.2.5    Threat of Substitutes
    14.3    Key Indicators for Demand
    14.4    Key Indicators for Price
15    Value Chain Analysis
16    Renewable Energy Tariff Rates
17    Competitive Landscape

    17.1    Market Structure
    17.2    Company Profiles
        17.2.1    First Solar, Inc.
            17.2.1.1    Company Overview
            17.2.1.2    Product Portfolio
            17.2.1.3    Demographic Reach and Achievements
            17.2.1.4    Certifications
        17.2.2    Suzlon Energy Ltd.
            17.2.2.1    Company Overview
            17.2.2.2    Product Portfolio
            17.2.2.3    Demographic Reach and Achievements
            17.2.2.4    Certifications
        17.2.3    Vestas Wind Systems A/S
            17.2.3.1    Company Overview
            17.2.3.2    Product Portfolio
            17.2.3.3    Demographic Reach and Achievements
            17.2.3.4    Certifications
        17.2.4    Conergy Energy Systems
            17.2.4.1    Company Overview
            17.2.4.2    Product Portfolio
            17.2.4.3    Demographic Reach and Achievements
            17.2.4.4    Certifications
        17.2.5    Senvion S.A.
            17.2.5.1    Company Overview
            17.2.5.2    Product Portfolio
            17.2.5.3    Demographic Reach and Achievements
            17.2.5.4    Certifications
        17.2.6    Ørsted A/S
            17.2.6.1    Company Overview
            17.2.6.2    Product Portfolio
            17.2.6.3    Demographic Reach and Achievements
            17.2.6.4    Certifications
        17.2.7    Vattenfall AB
            17.2.7.1    Company Overview
            17.2.7.2    Product Portfolio
            17.2.7.3    Demographic Reach and Achievements
            17.2.7.4    Certifications
        17.2.8    JinkoSolar Holding Co., Ltd
            17.2.8.1    Company Overview
            17.2.8.2    Product Portfolio
            17.2.8.3    Demographic Reach and Achievements
            17.2.8.4    Certifications
        17.2.9    Tata Power Solar Systems Ltd.
            17.2.9.1    Company Overview
            17.2.9.2    Product Portfolio
            17.2.9.3    Demographic Reach and Achievements
            17.2.9.4    Certifications
        17.2.10    Enel Green Power S.p.A.
            17.2.10.1    Company Overview
            17.2.10.2    Product Portfolio
            17.2.10.3    Demographic Reach and Achievements
            17.2.10.4    Certifications    
        17.3.11    Others
18    Key Trends and  Developments in the Market


List of Key Figures and Tables

1.    Global Renewable Energy Market: Key Industry Highlights, 2018 and 2032
2.    Global Renewable Energy Historical Market: Breakup by Type (Gigawatts), 2018-2023
3.    Global Renewable Energy Market Forecast: Breakup by Type (Gigawatts), 2024-2032
4.    Global Renewable Energy Historical Market: Breakup by Region (Gigawatts), 2018-2023
5.    Global Renewable Energy Market Forecast: Breakup by Region (Gigawatts), 2024-2032
6.    North America Renewable Energy Historical Market: Breakup by Country (Gigawatts), 2018-2023
7.    North America Renewable Energy Market Forecast: Breakup by Country (Gigawatts), 2024-2032
8.    Europe Renewable Energy Historical Market: Breakup by Country (Gigawatts), 2018-2023
9.    Europe Renewable Energy Market Forecast: Breakup by Country (Gigawatts), 2024-2032
10.    Asia Pacific Renewable Energy Historical Market: Breakup by Country (Gigawatts), 2018-2023
11.    Asia Pacific Renewable Energy Market Forecast: Breakup by Country (Gigawatts), 2024-2032
12.    Latin America Renewable Energy Historical Market: Breakup by Country (Gigawatts), 2018-2023
13.    Latin America Renewable Energy Market Forecast: Breakup by Country (Gigawatts), 2024-2032
14.    Middle East and Africa Renewable Energy Historical Market: Breakup by Country (Gigawatts), 2018-2023
15.    Middle East and Africa Renewable Energy Market Forecast: Breakup by Country (Gigawatts), 2024-2032
16.    Global Renewable Energy Market Structure

Key Questions Answered in the Report

In 2023, the global renewable energy market attained a value of USD 3290.80 billion.

The major drivers of the market include the growing focus on sustainable development, increased support by various governments, rising awareness about clean energy, rapid economic growth, rising adoption of alternative energy sources across industries, and increasing parity in the prices of alternative energy to conventional energy.

The increasing environmental consciousness, rapid technological innovations, and the rising expenditure in the development of renewable energy plants are the key trends propelling the market growth.

The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.

On the basis of type, the global renewable energy market is divided into solar, wind, hydro, biomass, and geothermal.

The major players in the market are First Solar, Inc., Suzlon Energy Ltd., Vestas Wind Systems A/S, Conergy Energy Systems, Senvion S.A., Ørsted A/S, Vattenfall AB, JinkoSolar Holding Co., Ltd, Tata Power Solar Systems Ltd., and Enel Green Power S.p.A., among others.

Analyst Review

The global renewable energy market attained a value of USD 3290.80 billion in 2023, driven by the increasing environmental awareness. Aided by the growing focus on sustainable development and the rising investments in the development of renewable energy sources, 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. On the basis of type, the industry can be divided into solar, wind, hydro, biomass, and geothermal. The major regional markets for renewable energy are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. The major players in the industry are First Solar, Inc., Suzlon Energy Ltd., Vestas Wind Systems A/S, Conergy Energy Systems, Senvion S.A., Ørsted A/S, Vattenfall AB, JinkoSolar Holding Co., Ltd, Tata Power Solar Systems Ltd., and Enel Green Power S.p.A., 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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