Renewable Energy Market Growth and Development Insight - Size, Share, Growth, and Industry Analysis
The recent analytical report published by Markntel Advisors (a leading consulting, data analytics, and market research firm), Market comprises a detailed study of critical and major aspects of market dynamics, i.e. market trends, size, forecasts, growth factors, challenges, and competitor landscape.
In-Depth Market Overview of Renewable
Energy Market Industry (2025-2030):
According
to the latest report, the 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. The
report demonstrates the prominent factors propelling the exponential growth of
the Renewable Energy Market.
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Key Takeaways: Beneficial for
Stakeholders and Clients
·
Historic Period: 2020-2023
·
Base year: 2024
·
Forecast Years: 2025-2030
·
CAGR (2025-30): 12.17%
·
Market Value
in 2023: USD 1080 Billion
·
Market Value By 2030: USD 1918 Billion
What are the major Driver
the Renewable Energy industry?
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. For Instance,
In
2023, the Indian government aimed to invest nearly USD 4.3 billion for its
energy security goals and green energy transition plans.
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report to gain insights into the complete report structure
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Renewable Energy Market Segmentation
The Renewable
Energy Market analysis of MarkNtel Advisors explores the industry by
emphasizing the growth parameters and categorizes including geographical
segmentation, to offer a comprehensive understanding of the market dynamic. The
further bifurcations are as follows:
·
By Source
o
Solar – Market Size & Forecast, 2020-2030, MWh
o
Wind – Market Size & Forecast, 2020-2030, MWh
o
Hydro – Market Size & Forecast, 2020-2030, MWh
o
Others (Biomass, geothermal, etc.) – Market Size &
Forecast, 2020-2030, MWh
·
By End User
o
Residential – Market Size & Forecast, 2020-2030, MWh
o
Commercial – Market Size & Forecast, 2020-2030,
MWh
o
Industrial – Market Size & Forecast, 2020-2030,
MWh
·
By Region
o
North America
o
South America
o
Europe
o
The Middle East & Africa
o Asia-Pacific
As per the regional aspect, the Renewable Energy Market is expected to be dominated by North America by capturing the potential market share.
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details about this research report-
https://www.marknteladvisors.com/research-library/renewable-energy-market.html
Top
Companies in the Renewable Energy Market
Iberdrola, Siemens Gamesa, Orsted
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
Others Reports:
Renewable Energy Industry
Recent Development:
- 2024: Spanish renewable energy giant Siemens Gamesa attained
a contract for the production, delivery, and servicing of wind turbines
with a capacity of 14.4 MW for a 1.44 GW offshore wind farm in Poland. The
company had received this contract from Equinor and Polenergia. This
project aims to supply electricity to nearly 2 million Polish homes.
- 2023: The Indian Ministry of New and Renewable Energy and the Saudi Arabian Ministry of Investment agreed to support investments in each other's new & renewable energy, specifically solar, wind, and green hydrogen. A Memorandum of Understanding (MoU) was signed for synergy between the two countries regarding the electrical connection between India and Saudi Arabia, the supply of electricity during peak load and emergency cases, a better supply chain, the co-development of projects, etc.
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Judgement: Our comprehensive Market research encompasses a wide spectrum of
activities, including precise market sizing, detailed segment analysis,
accurate demand forecasting, competitor identification, and meticulous pricing
trend monitoring.
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