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.
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 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.
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.
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.
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.
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.
1. Executive Summary
2. Global Renewable Energy Market Snapshot
2.1. Renewable Energy Market Outlook
2.2. Renewable Energy Industry Analysis by Technology
2.3. Regional Overview
2.3.1. North America
2.3.3. Asia Pacific
2.3.4. Latin America
3. Impact of Recent Events
4. Renewable Energy Value Chain Analysis
5. Renewable Energy Production Process
6. Trade Analysis
7. Major Risk Factors in Sourcing
8. Renewable Energy Cost Structure
9. Renewable Energy Price Analysis
10. Key Demand Indicator Analysis
11. Key Price Indicator Analysis
12. Renewable Energy Market Dynamics
12.1. Drivers & Constraints
12.2. Industry Events
12.3. Innovations & Trends
12.4. SWOT Analysis
12.5. Porter’s Five Forces
12.5.1. Buyer Power
12.5.2. Supplier Power
12.5.3. Threat of New entrants
12.5.4. Threat of Substitutes
12.5.5. Industry Rivalry
13. Industry Best Practices
13.1. Sourcing Strategy
13.2. Procurement Model
13.3. Contract Structure
13.4. Negotiation Levers
13.5. Pricing Model
13.6. Key Factors Influencing the Quotation
14. Key Supplier Analysis
14.1. Jinko Solar Holding Co., Ltd
14.2. Engie SA
14.3. Siemens Gamesa Renewable Energy S.A.
14.4. GE Renewable Energy
14.5. Ameresco, Inc.
By the global Renewable Energy Market Year 2021, the total capacity obtained for the market was 2626.85 gigawatts.
The market year 2027 will likely attain a capacity of 4076.7 gigawatts.
The global Renewable Energy Market price is progressing at a CAGR of 7.6%.
The North America region holds the largest share of the market.
The players majorly contributing to the market growth are First Solar, Inc., Suzlon Energy Ltd., Vestas Wind Systems A/S, Conergy Energy Systems.
The global Renewable Energy Market attained a value of 2626.85 gigawatts in 2021, driven by the rising concern over environmental sustainability. The demand for reducing greenhouse gas emissions, an increase in the quest for energy security, resistance to traditional nuclear power, and a lack of development in atomic force are augmenting the need for geothermal power. Technological developments in solar P.V. production are furthering the industry's expansion. Hydropower provides clean water for agriculture, residences, and businesses and assists in mitigating the effects of extreme weather events like floods and drought driving the market growth. The growing government initiatives aid them; the market is expected to witness further growth in the forecast period of 2022-2027, growing at a CAGR of 7.6%. The market is projected to reach 4076.7 gigawatts by 2027.
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