Rapidly increasing energy demand, increasing investment in renewable energy generation, declining cost of renewable energy, and government initiatives to promote green and clean energy sources are the major factors driving the growth of the global renewable energy market. Renewable energy has been adopted as a viable alternative to the conventional power generation technologies. The electricity generated through renewable sources has contributed larger share than that of conventional power generation sources across major countries. The increased investment in the development of renewable energy generation plants has witnessed a steady growth during past decade with major growth exhibited during the past couple of years. Declining cost of renewable energy generation fueled by increased competition in the market has contributed towards the growth of global renewable energy market. The cost of technologies auxiliary to the renewable energy generation such as storage or battery modules has witnessed steady decline over past couple of years. This has fueled the adoption of renewable energy across the globe. Government initiatives to promote clean energy generation is anticipated to hamper the investment in expanding the capacity of conventional power plants. Consequently, the utility departments across the globe are expected to turn towards renewable energy for future energy requirements, thereby fueling the growth of the global renewable energy market in coming years.
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Asia Pacific contributed the largest share to the global market in 2019 and is anticipated to be a dominating region throughout the forecast period owing to expanding renewable energy generation infrastructure across major countries. Asia Pacific accounts for largest share in the generation of hydroelectricity and solar power owing to the presence of sustainable infrastructure across China, India, Japan and South Korea. Presence of leading solar panel and battery manufacturers across the region is anticipated to contribute towards the growth of Asia Pacific renewable energy market during the forecast period. Europe contributed a significant share to the global renewable energy market in 2019 and is anticipated to witness prominent growth during the forecast period.
The report titled “Renewable Energy Market – Global Market Share, Trends, Analysis and Forecasts, 2020-2030” offers market estimates for a period 2018 to 2030, wherein 2018 is historic period, 2019 is the base year, and 2020 to 2030 is forecast period. Additionally, the study takes into consideration the competitive landscape, wherein the report would provide company overview and market outlook for leading players in the global renewable energy market. Furthermore, the report would reflect the key developments, global & regional sales network, business strategies, research & development activities, employee strength, and key executive, for all the major players operating in the market.
The global renewable energy market is segmented on the basis of type, end use, and geography. Based on type, the global renewable energy market is segmented into hydroelectric power, wind power energy, bioenergy, solar energy, geothermal energy, and others. Based on end use, the global renewable energy market is segmented into residential, commercial, and industrial. Based on geography, the global renewable energy market is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America.
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The research provides in-depth analysis of prominent players holding majority share of the global market with a focus on all operating business segment, and would identify the segment of the company focusing on renewable energy. Further, market share of prominent companies in the global renewable energy market would also be estimated. the study takes into consideration the key competitive information such as business strategy, product portfolio, key development, swot analysis, and research and development focus of all the renewable energy companies.