Reports
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 3,058.36 gigawatts of renewable energy were installed in 2023. The global installations are expected to further grow at a CAGR of 7.6% between 2023 to 2032, which would aid the market in North America.
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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.
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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.
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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.
| 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, Europe, Asia Pacific, Latin America, Middle East and Africa |
| Market Dynamics | SWOT, Porter's Five Forces, 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. |
*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 3,058.36 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 3,058.36 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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