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The global renewable energy market size is being driven the rising installation of renewable energy globally. In 2020, nearly 2455 gigawatts of renewable energy was installed globally.
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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.
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.
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On the basis of types, the industry can be divided into:
The EMR report also covers the regional markets like North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
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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.
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:
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.
|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, Europe, Asia Pacific, Latin America, Middle East and Africa|
|Market Dynamics||SWOT, Porter's Five Forces, EMR’s Key Indicators for Price and Demand|
|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.|
*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.
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
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
7 Industry Opportunities and Challenges
8 Global Renewable Energy Market Analysis
8.1 Key Industry Highlights
8.2 Global Renewable Energy Historical Market (2017-2021)
8.3 Global Renewable Energy Market Forecast (2022-2027)
8.4 Global Renewable Energy Market by Type
220.127.116.11 Market Share
18.104.22.168 Historical Trend (2017-2021)
22.214.171.124 Forecast Trend (2022-2027)
126.96.36.199 Market Share
188.8.131.52 Historical Trend (2017-2021)
184.108.40.206 Forecast Trend (2022-2027)
220.127.116.11 Market Share
18.104.22.168 Historical Trend (2017-2021)
22.214.171.124 Forecast Trend (2022-2027)
126.96.36.199 Market Share
188.8.131.52 Historical Trend (2017-2021)
184.108.40.206 Forecast Trend (2022-2027)
220.127.116.11 Market Share
18.104.22.168 Historical Trend (2017-2021)
22.214.171.124 Forecast Trend (2022-2027)
8.5 Global Renewable Energy Market by Region
8.5.1 Market Share
126.96.36.199 North America
188.8.131.52 Asia Pacific
184.108.40.206 Latin America
220.127.116.11 Middle East and Africa
9 Regional Analysis
9.1 North America
9.1.1 Historical Trend (2017-2021)
9.1.2 Forecast Trend (2022-2027)
9.1.3 Breakup by Renewable Energy Type
9.1.4 Breakup by Country
18.104.22.168 United States of America
9.2.1 Historical Trend (2017-2021)
9.2.2 Forecast Trend (2022-2027)
9.2.3 Breakup by Renewable Energy Type
9.2.4 Breakup by Country
22.214.171.124 United Kingdom
9.3 Asia Pacific
9.3.1 Historical Trend (2017-2021)
9.3.2 Forecast Trend (2022-2027)
9.3.3 Breakup by Renewable Energy Type
9.3.4 Breakup by Country
9.4 Latin America
9.4.1 Historical Trend (2017-2021)
9.4.2 Forecast Trend (2022-2027)
9.4.3 Breakup by Renewable Energy Type
9.4.4 Breakup by Country
9.5 Middle East and Africa
9.5.1 Historical Trend (2017-2021)
9.5.2 Forecast Trend (2022-2027)
9.5.3 Breakup by Renewable Energy Type
9.5.4 Breakup by Country
126.96.36.199 Saudi Arabia
188.8.131.52 United Arab Emirates
184.108.40.206 South Africa
10 Market Dynamics
10.1 SWOT Analysis
10.2 Porter’s Five Forces Analysis
10.2.1 Supplier’s Power
10.2.2 Buyers Power
10.2.3 Threat of New Entrants
10.2.4 Degree of Rivalry
10.2.5 Threat of Substitutes
10.3 EMR’s Key Indicators for Demand
10.4 EMR’s Key Indicators for Price
11 Renewable Energy Tariff Rates
12 Value Chain Analysis
13 Competitive Landscape
13.1 Market Structure
13.2 Company Profiles
13.2.1 First Solar, Inc.
220.127.116.11 Company Overview
18.104.22.168 Product Portfolio
22.214.171.124 Demographic Reach and Achievements
13.2.2 Suzlon Energy Ltd.
126.96.36.199 Company Overview
188.8.131.52 Product Portfolio
184.108.40.206 Demographic Reach and Achievements
13.2.3 Vestas Wind Systems A/S
220.127.116.11 Company Overview
18.104.22.168 Product Portfolio
22.214.171.124 Demographic Reach and Achievements
13.2.4 Conergy Energy Systems
126.96.36.199 Company Overview
188.8.131.52 Product Portfolio
184.108.40.206 Demographic Reach and Achievements
13.2.5 Senvion S.A.
220.127.116.11 Company Overview
18.104.22.168 Product Portfolio
22.214.171.124 Demographic Reach and Achievements
13.2.6 Ørsted A/S
126.96.36.199 Company Overview
188.8.131.52 Product Portfolio
184.108.40.206 Demographic Reach and Achievements
13.2.7 Vattenfall AB
220.127.116.11 Company Overview
18.104.22.168 Product Portfolio
22.214.171.124 Demographic Reach and Achievements
13.2.8 JinkoSolar Holding Co., Ltd
126.96.36.199 Company Overview
188.8.131.52 Product Portfolio
184.108.40.206 Demographic Reach and Achievements
13.2.9 Tata Power Solar Systems Ltd.
220.127.116.11 Company Overview
18.104.22.168 Product Portfolio
22.214.171.124 Demographic Reach and Achievements
13.2.10 Enel Green Power S.p.A.
126.96.36.199 Company Overview
188.8.131.52 Product Portfolio
184.108.40.206 Demographic Reach and Achievements
14 Industry Events and Developments
List of Figures and Tables
1. Global Renewable Energy Market: Key Industry Highlights, 2016 and 2026
2. Global Renewable Energy Historical Market: Breakup by Type (Gigawatts), 2017-2021
3. Global Renewable Energy Market Forecast: Breakup by Type (Gigawatts), 2022-2027
4. Global Renewable Energy Historical Market: Breakup by Region (Gigawatts), 2017-2021
5. Global Renewable Energy Market Forecast: Breakup by Region (Gigawatts), 2022-2027
6. North America Renewable Energy Historical Market: Breakup by Country (Gigawatts), 2017-2021
7. North America Renewable Energy Market Forecast: Breakup by Country (Gigawatts), 2022-2027
8. Europe Renewable Energy Historical Market: Breakup by Country (Gigawatts), 2017-2021
9. Europe Renewable Energy Market Forecast: Breakup by Country (Gigawatts), 2022-2027
10. Asia Pacific Renewable Energy Historical Market: Breakup by Country (Gigawatts), 2017-2021
11. Asia Pacific Renewable Energy Market Forecast: Breakup by Country (Gigawatts), 2022-2027
12. Latin America Renewable Energy Historical Market: Breakup by Country (Gigawatts), 2017-2021
13. Latin America Renewable Energy Market Forecast: Breakup by Country (Gigawatts), 2022-2027
14. Middle East and Africa Renewable Energy Historical Market: Breakup by Country (Gigawatts), 2017-2021
15. Middle East and Africa Renewable Energy Market Forecast: Breakup by Country (Gigawatts), 2022-2027
16. Global Renewable Energy Market Structure
The global renewable energy market attained an installation capacity of 2455 gigawatts. It is expected to witness a further growth in the forecast period of 2022-2027, growing at a CAGR of 7.6%. The installation in the industry is projected to reach 3812 gigawatts by 2026.
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 solar, wind, hydro, biomass, and geothermal. The major regional markets for the product are North America, the Asia Pacific, Europe, Latin America, and the Middle East and Africa, with North America being a leading regional market within the industry. The key players in the above industry include 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.
The major drivers of the industry such as rising disposable incomes, increasing population, rising environmental consciousness, growing awareness about sustainability solutions, and increasing investments by governments and key players are driving the growth of the market globally. 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 industry insights that are accurate, actionable, and help them remain ahead of their competition.
EMR’s approach gives their clients a comprehensive assessment of the prevailing and projected industry conditions through the collection, collation, and analysis of data from trusted sources. The key questions answered in the market study are:
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