Insights into Tomorrow: Growth Forecast for Renewable Energy
MarkNtel Advisors latest report titled The Global Renewable Energy Market size was valued at around USD 1080 billion in 2024 and is projected to reach USD 1918 billion by 2030. Along with this, the market is estimated to grow at a CAGR of around 12.17% during the forecast period, i.e., 2025-30.
Global
Renewable Energy Market Driver:
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. Countries such as China and India
have rapidly increased the share of renewables, especially solar, in their
energy mix, helping in the steady addition of global renewable energy capacity
each year. As per the IEA, in 2023 alone, approximately 510 GW was added to the
existing capacity, which is estimated to be an increase of about 50% in
contrast with that of 2022. For this, the countries have extended support to
the private players in terms of policy support, financial support, etc., which
has been fueling the market size & volume of renewable energy globally.
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Renewable
Energy Market Segmentation:
-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
What
are the key regions in the Renewable Energy market?
-North America
-South America
-Europe
-The Middle East & Africa
-Asia-Pacific
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Who
are the leading key players shaping the Renewable Energy Market landscape?
Iberdrola, Siemens Gamesa, Ørsted A/S,
NextEra Energy, Inc., EDf Renewable, General Electric, Vestas, Acciona, S.A.,
Canadian Solar, Enel Green Power SpA, Lightsource BP, Adani Green Energy Ltd.,
Tata Power Renewables, Enterprize Energy, JSW Energy, and others
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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