Renewable Energy Market Analysis and Size:
As per recent research by MarkNtel Advisors, the Renewable Energy Market size was valued at around USD 995.28 billion in 2023 and would grow at a CAGR of around 8.96% during the forecast period, i.e., 2024-30.
Market Drivers : Rising Energy Security Concerns to Drive Market Growth –
In today’s world, being energy-dependent is a serious threat to the nation’s economy. The conventional energy sources being limited to some parts of the globe disturbed the balance of power income between nations. Therefore, a crucial need for upgrading and transitioning to new energy sources arose. Nations with low reserves of fossil fuels have been the first to deploy renewable energy in their existing power grids.
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Renewable Energy Market Scope:
The Renewable Energy Market is segmented into different categories. This segmentation enables a detailed analysis of specific areas of growth, aiding in strategic market approaches. It helps identify key application areas and variances within target markets, facilitating focused strategies to capitalize on niche opportunities.
By Source
-Solar – Market Size Forecast, 2019-2030, MWh
-Wind – Market Size Forecast, 2019-2030, MWh
-Hydro – Market Size Forecast, 2019-2030, MWh
-Others (Biomass, geothermal, etc.) – Market Size Forecast, 2019-2030, MWh
By End User
-Residential – Market Size Forecast, 2019-2030, MWh
-Commercial – Market Size Forecast, 2019-2030, MWh
-Industrial – Market Size Forecast, 2019-2030, MWh
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Renewable Energy Market Geographical Analysis:
By Region:
-North America
-South America
-Europe
-The Middle East Africa
-Asia-Pacific
Competitive Landscape and Renewable Energy Market Share Analysis:
The Renewable Energy market is highly competitive, with several key players dominating the landscape. Some of the prominent companies in the market include:
- Iberdrola
- Siemens Gamesa
- NextEra Energy Inc.
- EDf Renewable
- General Electric
- Vestas
- Acciona
- Canadian Solar
- Enel Green Power SpA
- Lightsource BP
- Adani Green Energy Ltd.
- Tata Power Renewables
- Enterprize Energy
- JSW Energy
- Others
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Questions Addressed in this Study
1.What factors are driving the Renewable Energy Market growth?
2.How is the Renewable Energy Market expected to grow over the next five years?
3.What are the key insights into the current trends in the Renewable Energy Market?
4.What is the current size of the Renewable Energy Market, and how is it projected to change in the future?
6.What is the future outlook for the Renewable Energy Market in terms of technological advancements and market expansion?
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Why MarkNtel Advisors?
MarkNtel Advisors is a leading research, consulting, data analytics firm that provides an extensive range of strategic reports on diverse industry verticals. We deliver data to a substantial varied client base, including multinational corporations, financial institutions, governments, individuals, among others.
Our specialization in niche industries emerging geographies allows our clients to formulate their strategies in a much more informed way and entail parameters like Go-to-Market (GTM), product development, feasibility analysis, project scoping, market segmentation, competitive benchmarking, market sizing forecasting, trend analysis, among others, for 15 diverse industrial verticals.
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