Global Renewable Energy Market: by Technology; Country Overview; Value Chain Analysis; Production Process; Trade Analysis; Cost Structure; Market Dynamics: Drivers & Constraints, Industry Events, Innovations & Trends, SWOT Analysis, Porter’s Five Forces; Industry Best Practices: Sourcing Strategy, Procurement Model, Contract Structure, Negotiation Levers, Pricing Model; Key Supplier Analysis, 2024-2032

Renewable Energy Market Outlook

The global Renewable Energy Market share was valued approximately 2626.85 gigawatts in the base year of 2021. In 2027, the global Renewable Energy Market size is likely to attain a value of around 4076.7 gigawatts. The progress of the market throughout the projected years between 2022-2027 will be increasing at a CAGR of 7.6%.

The rise of the global renewable energy market is primarily due to increased awareness of the need to reduce greenhouse gas emissions, an increase in the quest for energy security, resistance to nuclear power, and a lack of progress in using atomic force. Furthermore, with advancements in technology and increased government investment in the renewable energy market, the market will witness further the global Renewable Energy Market growth.

In the global Renewable Energy Market Analysis, the North American region accounts for the largest share.

Latest Developments

September 6, 2022 - Ameresco, Inc., based in Framingham, is a cleantech integrator that excells in renewable energy and efficiency; Ameresco, along with Inovateus Solar, a leading U.S. solar engineering, procurement, and construction (EPC) company, finished their brightfield solar project in Danville, Illinois.

Renewable Energy Market Definition and Segmentation

Renewable energy is sourced from renewing, but flow-limited sources present in nature. These sources are almost endless however have a restricted quantity of power per unit of time. The sources can be wind, waves, sunlight, tides, rain etc. Renewable energy is restored quickly, and despite the overlap between these energy sources, they are hardly truly clean or green.

The global Renewable Energy market report comprises segments by technology Hydro, Wind, Solar, Bioenergy, Geothermal.

On the account of region, the global Renewable Energy Market Forecast is studied across North America, Europe, Asia Pacific, the Middle East, Africa, and South America.

North America Region are Driving the Growth of the global Renewable Energy Market

Global Renewable Energy Market in the North American region accounts for a significant share of the sector owing to the fact that it is the most rapidly advancing energy sector growing by 42 percent between 2010 to 2020 in the United States.

Renewable resource Energy consumed over sectors in the United States comprised around 5 percent (11.6 quadrillion Btu out of 92.9 quadrillion Btu). It is anticipated that Renewable use, primarily wind and solar, in the U.S. will grow in the approaching thirty years at an annual growth rate of 2.4 percent. Renewable fuels like ethanol and biodiesel are likely to attain more demand in transportation.

The Market Study

Renewable energy is obtained from resources available to us naturally that are being renewed continually. The energy is directly derived from sources, including the sun. This process includes heat and electricity made from wind, hydropower, biofuels, sun, biomass, ocean, geothermal resources, and hydrogen.

Compared to traditional energy sources, renewable energy resources have opportunities for energy efficiency throughout a large geographical region, unlike conventional sources that are concentrated in a small number of nations. The growing preference and switch to renewable energy, energy efficiency, and technical diversity of energy sources will deliver several economic and energy security benefits.

These include lesser environmental pollutants, including air pollution due to improved public health, burning fossil fuels, reduced early mortality rates caused by pollution, and save trillions of dollars in annual health expenditures.

Sustainability Goals and Initiatives Proliferating the Market Expansion

The global Renewable Energy Market Demand is driven by diversity, resource availability, cost, proximity to demand or transmission, and policy decisions like tax credits, renewable portfolio standards etc. The businesses focused on aiming for sustainability goals also boost renewable energy development.

Several initiatives like building facilities like solar roofs and wind farms, buying renewable energy certificates (RECs), and procuring renewable electricity through energy purchase accords. The lowering cost of the technologies due to high demand and procurement propels the global Renewable Energy Market Development.

The regional global Renewable Energy Market is divided into North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa.

Global Renewable Energy Market Key Players

• Jinko Solar Holding Co., Ltd
• Engie SA
• Siemens Gamesa Renewable Energy S.A.
• GE Renewable Energy
• Ameresco, Inc.

Competitive Market Landscape

Jinko Solar Holding Co., Ltd - JinkoSolar is a global innovative solar module manufacturing giant distributing its products and selling its services and solutions to a diverse residential and commercial client base across many countries and regions.

Engie SA - Engie SA provides environmental services, electricity, gas and associated energy worldwide. It trades, stores, produces, transports, and distributes natural gas while offering climatic and thermal engineering services and energy management.

Siemens Gamesa Renewable Energy S.A. - Siemens Gamesa Renewable Energy, S.A. is a designer and manufacturer of renewable energy equipment. Their product offering includes turbine gearboxes, wind turbines, off-grid, and other similar equipment, along with providing maintenance and reconditioning services.

GE Renewable Energy - GE Renewable Energy harnesses natural resources like wind, heat, and water to enable the most significant economies worldwide and the remotest communities. They engineer digital services and energy products that create value for their clients globally.

Ameresco, Inc. - Ameresco, Inc. is focused on building a sustainable future along with private and public organizations across North America and the United Kingdom.