Green Energy Market - Global Industry Analysis

Green Energy Market By Type (Solar Energy, Geothermal Energy, Hydroelectric Power, Bioenergy, and Wind Power), By End-User (Commercial, Residential, Industrial, and Others), and By Region: Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, and Forecasts 2022 – 2028

Published Date: 30-Jun-2022 Category: Energy & Mining Report Format : PDF Pages: 222 Report Code: ZMR-7005 Status : Published

The global green energy market was valued at $900B in 2021 and is expected to grow at a CAGR of 8.5% by 2028 and generate a market revenue of $1,950B during the forecast period.

Description

Industry Prospective:

The global green energy market was valued at $900B in 2021 and is expected to grow at a CAGR of 8.5% by 2028 and generate a market revenue of $1,950B during the forecast period. The report analyzes the green energy market's drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the global green energy market.

Green Energy Market: Overview

Green energy is generated from renewable natural resources like wind power, geothermal energy, solar energy, hydroelectric power, and biomass. Energy is deemed as green energy when it does not produce any harmful effects on the environment and does not lead to pollution. It is easy to get confused between green energy and renewable energy. However, there is a slight difference between the two. Using organic material for power generation can be called renewable energy but cannot be deemed as green energy because of the release of carbon dioxide during the burning process which is a pollutant.

Green energy is naturally refilled, contrary to the energy generated with the help of fossil fuels like coal or natural gas. Generating green energy means avoiding any process which may damage the ecosystem like mining or drilling operations. Greenhouse energy is termed as the most sustainable form of energy because even during its entire lifecycle they release far less harmful gases in comparison to fossil-fuel-generated energy. This benefits not just the environment but the health of the general population as well.

Global Green Energy Market

COVID-19 Impact

The global green energy market was impacted negatively during COVID-19 owing to the transportation restrictions across the globe and the general shift of focus on containing and treating the virus. Closure of manufacturing units along with scarce availability of raw materials contributed to the dip in the global market growth during 2020 and 2021.

Green Energy Market: Growth Drivers

Increasing pressure on industries to opt for green energy to act as a market growth driver

With growing commercialization, industrialization along with modernization of cities we have reached newer heights of technological advancements but the price we had to pay to reach higher heights is the severe harmful impact on the environment. At the current time, large-scale discussions about sustainable ways of further advancement are being encouraged globally with mass initiatives taken by regional governments, private investors along with global environmental agencies like UNEP, IEA, and UN to name a few. This has forced the producers or manufacturers to look for clean energy sources since the basic material to run any business is the constant flow of energy, thus propelling businesses to use green energy wherever possible and to conduct extensive R&D on green energy creation for further use. The rising pressure on industries and businesses to opt for cleaner energy is expected to aid the growth of the global energy market during the forecast period. This is also aided by the depletion of fossil fuel or natural gases making their accessibility difficult as well as expensive, thus creating more demand for green energy creation. The rising awareness amongst the general population about the deterioration of the environment has aided the shift in preference of the end consumers towards less harmful energy sources and accommodate their use wherever possible, like the use of solar panels at homes to generate electricity or the adoption of EV over gas-run vehicles. The preference change is anticipated to aid the global market expansion.

Green Energy Market: Restraints

Abrupt changes in climatic conditions may restrain market expansion

Because of many years of ignorance towards the climate and environmental damage due to rapid industrialization, global warming is at its peak as of 2022. The climatic changes have become extremely abrupt and do not remain as predictable as they were up until a few years ago. The sudden changes in climatic conditions may act as restraining factors in global market growth because the producers may not have sufficient time to adjust to the sudden variations in climatic conditions.

Green Energy Market: Opportunities

Rising awareness amongst the general population toward environmental health to provide opportunities for market growth

With the rising population, there is a subsequent increase in demand for intelligent and energy-run devices. However, with multiple initiatives untaken by educational institutes and government projects along with programs run by international and domestic environmental welfare organizations, there is a change in perspective amongst the general population towards environmental health. This has led to a shift in preference or increase in demand for more sustainable energy sources not just for larger vehicles but even for smaller devices like home electric appliances. The changing consumer preference is expected to provide growth opportunities in the global green energy market because manufacturers have to produce what the consumer group demands.

Green Energy Market: Challenges

High initial investment to create challenging situations for market growth

Setting up a green energy infrastructure can be a costly affair at least during the initial phase. The cost-effectiveness of clean energy can be witnessed only once it has been used for a long time thus creating hesitancy amongst consumer groups. Coupled with this are time and extensive research required to set up an energy harvesting architecture which may pose a challenge for the global market expansion.

Green Energy Market: Segmentation

The global green energy market is segmented by type, end-user, and region.

Based on type, the global market is segmented into solar energy, geothermal energy, hydroelectric power, bioenergy, and wind power. The global market was dominated by the hydroelectric power segment in 2020 and is expected to follow the same trend during the forecast period owing to its wide application across sectors.

Based on end-user, the global market is segmented into commercial, residential, industrial, and others where the residential sector is expected to generate the highest revenue owing to the utilization of solar and wind energy even at a small scale and the emergence of multiple manufacturers offering energy generators for home devices.

Recent Development

  • In April 2021, Walmart announced the installation of solar power systems of 6.5 MW by Sol Client Solutions in the California location. Their portfolio increased to solar systems worth $10M with BOA acting as a tax equity partner.
  • In April 2021, after the partnership of Engie and Eocyle-Xant, the decentralized energy solution range of Engie’s witnessed the installation of small turbines for their Belgian-based clients. The partnership is projected to install around 110 SWTs for small and medium-sized firms.

Report Scope:

Report Attribute Details
Base Year 2020
Historic Years 2016 - 2020
Forecast Years 2021 - 2028
Segments Covered By Product Type, By Application, and By End Use
Forecast Units Value (USD Billion), and Volume (Units)
Quantitative Units Revenue in USD million/billion and CAGR from 2021 to 2028
Regions Covered North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World
Countries Covered U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others
Number of Companies Covered 10 companies with scope for including additional 15 companies upon request
Report Coverage Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis.
Customization Scope Avail customized purchase options to meet your exact research needs.

Green Energy Market: Regional Landscape

Asia Pacific to rule the global market during the forecast period

Asia Pacific is anticipated to dominate the global green energy market owing to the increasing population, rapid cities' rapid modernization, and robust industrialization. This has propelled the use of energy consumption leading to detrimental climatic changes in this region pressurizing the governments to take necessary measures like the adoption of green energy wherever possible and laying down stringent regulations for businesses in terms of release of harmful gases from their manufacturing units.

Europe is anticipated to grow significantly during the projection period because of rising awareness about green and cleaner energy, the high spending capacity of consumer groups along with initiatives undertaken by the European Union to create a carbon-neutral region in the coming decades.

Green Energy Market: Competitive Landscape

Some of the leading players in the global green energy market are SynTech Bioenergy, Canadian Solar Inc., Ocean Power Technologies, Invenergy LLC, Innergex, Tocardo BV, TATA Power, Ørsted, ONPOWER Business Energy, ABB Product Group Solar, NextEra Energy, Inc., Vestas, Siemens AG, EDF.

The global green energy market is segmented as follows:

By Type:

  • Solar energy
  • Geothermal energy
  • Hydroelectric power
  • Bioenergy
  • Wind power

By End-user:

  • Commercial
  • Residential
  • Industrial
  • Others

By Region

  • North America
    • The U.S.
    • Canada
  • Europe
    • France 
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

Table Of Content

  • Chapter 1. Preface
    • 1.1 Report Description and Scope
    • 1.2 Research scope
    • 1.3 Research methodology
      • 1.3.1 Market Research Type
      • 1.3.2 Market research methodology
  • Chapter 2. Executive Summary
    • 2.1 Global Green Energy Market, (2022 - 2028) (USD Billion)
    • 2.2 Global Green Energy Market : snapshot
  • Chapter 3. Global Green Energy Market - Industry Analysis
    • 3.1 Green Energy Market: Market Dynamics
    • 3.2 Market Drivers
      • 3.2.1 Increasing pressure on industries to opt for green energy to act as a market growth driver
    • 3.3 Market Restraints
      • 3.3.1. Abrupt changes in climatic conditions may restrain market expansion
    • 3.4 Market Opportunities
      • 3.4.1. Rising awareness amongst the general population toward environmental health to provide opportunities for market growth
    • 3.5 Market Challenges
      • 3.5.1. High initial investment to create challenging situations for market growth
    • 3.6 Porter’s Five Forces Analysis
    • 3.7 Market Attractiveness Analysis
      • 3.7.1 Market attractiveness analysis By Type
      • 3.7.2 Market attractiveness analysis By End-user
  • Chapter 4. Global Green Energy Market- Competitive Landscape
    • 4.1 Company market share analysis
      • 4.1.1 Global Green Energy Market: company market share, 2021
    • 4.2 Strategic development
      • 4.2.1 Acquisitions & mergers
      • 4.2.2 New Product launches
      • 4.2.3 Agreements, partnerships, cullaborations, and joint ventures
      • 4.2.4 Research and development and Regional expansion
    • 4.3 Price trend analysis
  • Chapter 5. Global Green Energy Market - Type Analysis
    • 5.1 Global Green Energy Market overview: By Type
      • 5.1.1 Global Green Energy Market share, By Type, 2021 and 2028
    • 5.2 Solar energy
      • 5.2.1 Global Green Energy Market by Solar energy, 2022 - 2028 (USD Billion)
    • 5.3 Geothermal energy
      • 5.3.1 Global Green Energy Market by Geothermal energy, 2022 - 2028 (USD Billion)
    • 5.4 Hydroelectric power
      • 5.4.1 Global Green Energy Market by Hydroelectric power, 2022 - 2028 (USD Billion)
    • 5.5 Bioenergy
      • 5.5.1 Global Green Energy Market by Bioenergy, 2022 - 2028 (USD Billion)
    • 5.6 Wind power
      • 5.6.1 Global Green Energy Market by Wind power, 2022 - 2028 (USD Billion)
  • Chapter 6. Global Green Energy Market - End-user Analysis
    • 6.1 Global Green Energy Market overview: By End-user
      • 6.1.1 Global Green Energy Market share, By End-user, 2021 and 2028
    • 6.2 Commercial
      • 6.2.1 Global Green Energy Market by Commercial, 2022 - 2028 (USD Billion)
    • 6.3 Residential
      • 6.3.1 Global Green Energy Market by Residential, 2022 - 2028 (USD Billion)
    • 6.4 Industrial
      • 6.4.1 Global Green Energy Market by Industrial, 2022 - 2028 (USD Billion)
    • 6.5 Others
      • 6.5.1 Global Green Energy Market by Others, 2022 - 2028 (USD Billion)
  • Chapter 7. Green Energy Market - Regional Analysis
    • 7.1 Global Green Energy Market Regional Overview
    • 7.2 Global Green Energy Market Share, by Region, 2021 & 2028 (USD Billion)
    • 7.3. North America
      • 7.3.1 North America Green Energy Market, 2022 - 2028 (USD Billion)
        • 7.3.1.1 North America Green Energy Market, by Country, 2022 - 2028 (USD Billion)
    • 7.4 North America Green Energy Market, by Type, 2022 - 2028
      • 7.4.1 North America Green Energy Market, by Type, 2022 - 2028 (USD Billion)
    • 7.5 North America Green Energy Market, by End-user, 2022 - 2028
      • 7.5.1 North America Green Energy Market, by End-user, 2022 - 2028 (USD Billion)
    • 7.4. Europe
      • 7.4.2 Europe Green Energy Market, 2022 - 2028 (USD Billion)
        • 7.4.2.1 Europe Green Energy Market, by Country, 2022 - 2028 (USD Billion)
    • 7.4 Europe Green Energy Market, by Type, 2022 - 2028
      • 7.4.1 Europe Green Energy Market, by Type, 2022 - 2028 (USD Billion)
    • 7.5 Europe Green Energy Market, by End-user, 2022 - 2028
      • 7.5.1 Europe Green Energy Market, by End-user, 2022 - 2028 (USD Billion)
    • 7.5. Asia Pacific
      • 7.5.3 Asia Pacific Green Energy Market, 2022 - 2028 (USD Billion)
        • 7.5.3.1 Asia Pacific Green Energy Market, by Country, 2022 - 2028 (USD Billion)
    • 7.4 Asia Pacific Green Energy Market, by Type, 2022 - 2028
      • 7.4.1 Asia Pacific Green Energy Market, by Type, 2022 - 2028 (USD Billion)
    • 7.5 Asia Pacific Green Energy Market, by End-user, 2022 - 2028
      • 7.5.1 Asia Pacific Green Energy Market, by End-user, 2022 - 2028 (USD Billion)
    • 7.6. Latin America
      • 7.6.4 Latin America Green Energy Market, 2022 - 2028 (USD Billion)
        • 7.6.4.1 Latin America Green Energy Market, by Country, 2022 - 2028 (USD Billion)
    • 7.4 Latin America Green Energy Market, by Type, 2022 - 2028
      • 7.4.1 Latin America Green Energy Market, by Type, 2022 - 2028 (USD Billion)
    • 7.5 Latin America Green Energy Market, by End-user, 2022 - 2028
      • 7.5.1 Latin America Green Energy Market, by End-user, 2022 - 2028 (USD Billion)
    • 7.7. The Middle-East and Africa
      • 7.7.5 The Middle-East and Africa Green Energy Market, 2022 - 2028 (USD Billion)
        • 7.7.5.1 The Middle-East and Africa Green Energy Market, by Country, 2022 - 2028 (USD Billion)
    • 7.4 The Middle-East and Africa Green Energy Market, by Type, 2022 - 2028
      • 7.4.1 The Middle-East and Africa Green Energy Market, by Type, 2022 - 2028 (USD Billion)
    • 7.5 The Middle-East and Africa Green Energy Market, by End-user, 2022 - 2028
      • 7.5.1 The Middle-East and Africa Green Energy Market, by End-user, 2022 - 2028 (USD Billion)
  • Chapter 8. Company Profiles
    • 8.1 SynTech Bioenergy
      • 8.1.1 Overview
      • 8.1.2 Financials
      • 8.1.3 Product Portfolio
      • 8.1.4 Business Strategy
      • 8.1.5 Recent Developments
    • 8.2 Canadian Solar Inc.
      • 8.2.1 Overview
      • 8.2.2 Financials
      • 8.2.3 Product Portfolio
      • 8.2.4 Business Strategy
      • 8.2.5 Recent Developments
    • 8.3 Ocean Power Technologies
      • 8.3.1 Overview
      • 8.3.2 Financials
      • 8.3.3 Product Portfolio
      • 8.3.4 Business Strategy
      • 8.3.5 Recent Developments
    • 8.4 Invenergy LLC
      • 8.4.1 Overview
      • 8.4.2 Financials
      • 8.4.3 Product Portfolio
      • 8.4.4 Business Strategy
      • 8.4.5 Recent Developments
    • 8.5 Innergex
      • 8.5.1 Overview
      • 8.5.2 Financials
      • 8.5.3 Product Portfolio
      • 8.5.4 Business Strategy
      • 8.5.5 Recent Developments
    • 8.6 Tocardo BV
      • 8.6.1 Overview
      • 8.6.2 Financials
      • 8.6.3 Product Portfolio
      • 8.6.4 Business Strategy
      • 8.6.5 Recent Developments
    • 8.7 TATA Power
      • 8.7.1 Overview
      • 8.7.2 Financials
      • 8.7.3 Product Portfolio
      • 8.7.4 Business Strategy
      • 8.7.5 Recent Developments
    • 8.8 Ørsted
      • 8.8.1 Overview
      • 8.8.2 Financials
      • 8.8.3 Product Portfolio
      • 8.8.4 Business Strategy
      • 8.8.5 Recent Developments
    • 8.9 ONPOWER Business Energy
      • 8.9.1 Overview
      • 8.9.2 Financials
      • 8.9.3 Product Portfolio
      • 8.9.4 Business Strategy
      • 8.9.5 Recent Developments
    • 8.10 ABB Product Group Solar
      • 8.10.1 Overview
      • 8.10.2 Financials
      • 8.10.3 Product Portfolio
      • 8.10.4 Business Strategy
      • 8.10.5 Recent Developments
    • 8.11 NextEra Energy Inc.
      • 8.11.1 Overview
      • 8.11.2 Financials
      • 8.11.3 Product Portfolio
      • 8.11.4 Business Strategy
      • 8.11.5 Recent Developments
    • 8.12 Vestas
      • 8.12.1 Overview
      • 8.12.2 Financials
      • 8.12.3 Product Portfolio
      • 8.12.4 Business Strategy
      • 8.12.5 Recent Developments
    • 8.13 Siemens AG
      • 8.13.1 Overview
      • 8.13.2 Financials
      • 8.13.3 Product Portfolio
      • 8.13.4 Business Strategy
      • 8.13.5 Recent Developments
    • 8.14 EDF.
      • 8.14.1 Overview
      • 8.14.2 Financials
      • 8.14.3 Product Portfolio
      • 8.14.4 Business Strategy
      • 8.14.5 Recent Developments

Table Of Figures

  • 1. Market research Type
  • 2. Market research methodology
  • 3. Global Green Energy Market, 2022 - 2028 (USD Billion)
  • 4. Porter’s Five Forces Analysis
  • 5. Global Green Energy Market attractiveness, By Type
  • 6. Global Green Energy Market attractiveness, By End-user
  • 7. Global Green Energy Market share by Type, 2022 and 2028 (USD Billion)
  • 8. Global Green Energy Market by Solar energy, 2022 - 2028 (USD Billion)
  • 9. Global Green Energy Market by Geothermal energy, 2022 - 2028 (USD Billion)
  • 10. Global Green Energy Market by Hydroelectric power, 2022 - 2028 (USD Billion)
  • 11. Global Green Energy Market by Bioenergy, 2022 - 2028 (USD Billion)
  • 12. Global Green Energy Market by Wind power, 2022 - 2028 (USD Billion)
  • 13. Global Green Energy Market share by End-user, 2022 and 2028 (USD Billion)
  • 14. Global Green Energy Market by Commercial, 2022 - 2028 (USD Billion)
  • 15. Global Green Energy Market by Residential, 2022 - 2028 (USD Billion)
  • 16. Global Green Energy Market by Industrial, 2022 - 2028 (USD Billion)
  • 17. Global Green Energy Market by Others, 2022 - 2028 (USD Billion)
  • 18. Global Green Energy Market share, by Region, 2022 and 2028
  • 19. North America Green Energy Market, 2022 - 2028 (USD Billion)
  • 20. Europe Green Energy Market, 2022 - 2028 (USD Billion)
  • 21. Asia Pacific Green Energy Market, 2022 - 2028 (USD Billion)
  • 22. Latin America Green Energy Market, 2022 - 2028 (USD Billion)
  • 23. The Middle-East and Africa Green Energy Market, 2022 - 2028 (USD Billion)

Table Of Tables

  • 1. Global Green Energy Market: Snapshot
  • 2. Drivers of the Green Energy Market: impact analysis
  • 3. North America Green Energy Market revenue, By Type, 2022 - 2028 (USD Billion)
  • 4. North America Green Energy Market revenue, By End-user, 2022 - 2028 (USD Billion)
  • 5. U.S. Green Energy Market revenue, By Type, 2022 - 2028 (USD Billion)
  • 6. U.S. Green Energy Market revenue, By End-user, 2022 - 2028 (USD Billion)
  • 7. Canada Green Energy Market revenue, By Type, 2022 - 2028 (USD Billion)
  • 8. Canada Green Energy Market revenue, By End-user, 2022 - 2028 (USD Billion)
  • 9. Europe Green Energy Market revenue, By Type, 2022 - 2028 (USD Billion)
  • 10. Europe Green Energy Market revenue, By End-user, 2022 - 2028 (USD Billion)
  • 11. Germany Green Energy Market revenue, By Type, 2022 - 2028 (USD Billion)
  • 12. Germany Green Energy Market revenue, By End-user, 2022 - 2028 (USD Billion)
  • 13. France Green Energy Market revenue, By Type, 2022 - 2028 (USD Billion)
  • 14. France Green Energy Market revenue, By End-user, 2022 - 2028 (USD Billion)
  • 15. U.K. Green Energy Market revenue, By Type, 2022 - 2028 (USD Billion)
  • 16. U.K. Green Energy Market revenue, By End-user, 2022 - 2028 (USD Billion)
  • 17. Italy Green Energy Market revenue, By Type, 2022 - 2028 (USD Billion)
  • 18. Italy Green Energy Market revenue, By End-user, 2022 - 2028 (USD Billion)
  • 19. Spain Green Energy Market revenue, By Type, 2022 - 2028 (USD Billion)
  • 20. Spain Green Energy Market revenue, By End-user, 2022 - 2028 (USD Billion)
  • 21. Rest of Europe Green Energy Market revenue, By Type, 2022 - 2028 (USD Billion)
  • 22. Rest of Europe Green Energy Market revenue, By End-user, 2022 - 2028 (USD Billion)
  • 23. Asia Pacific Green Energy Market revenue, By Type, 2022 - 2028 (USD Billion)
  • 24. Asia Pacific Green Energy Market revenue, By End-user, 2022 - 2028 (USD Billion)
  • 25. China Green Energy Market revenue, By Type, 2022 - 2028 (USD Billion)
  • 26. China Green Energy Market revenue, By End-user, 2022 - 2028 (USD Billion)
  • 27. Japan Green Energy Market revenue, By Type, 2022 - 2028 (USD Billion)
  • 28. Japan Green Energy Market revenue, By End-user, 2022 - 2028 (USD Billion)
  • 29. India Green Energy Market revenue, By Type, 2022 - 2028 (USD Billion)
  • 30. India Green Energy Market revenue, By End-user, 2022 - 2028 (USD Billion)
  • 31. South Korea Green Energy Market revenue, By Type, 2022 - 2028 (USD Billion)
  • 32. South Korea Green Energy Market revenue, By End-user, 2022 - 2028 (USD Billion)
  • 33. South-East Asia Green Energy Market revenue, By Type, 2022 - 2028 (USD Billion)
  • 34. South-East Asia Green Energy Market revenue, By End-user, 2022 - 2028 (USD Billion)
  • 35. Rest of Asia Pacific Green Energy Market revenue, By Type, 2022 - 2028 (USD Billion)
  • 36. Rest of Asia Pacific Green Energy Market revenue, By End-user, 2022 - 2028 (USD Billion)
  • 37. Latin America Green Energy Market revenue, By Type, 2022 - 2028 (USD Billion)
  • 38. Latin America Green Energy Market revenue, By End-user, 2022 - 2028 (USD Billion)
  • 39. Brazil Green Energy Market revenue, By Type, 2022 - 2028 (USD Billion)
  • 40. Brazil Green Energy Market revenue, By End-user, 2022 - 2028 (USD Billion)
  • 41. Mexico Green Energy Market revenue, By Type, 2022 - 2028 (USD Billion)
  • 42. Mexico Green Energy Market revenue, By End-user, 2022 - 2028 (USD Billion)
  • 43. Rest of Latin America Green Energy Market revenue, By Type, 2022 - 2028 (USD Billion)
  • 44. Rest of Latin America Green Energy Market revenue, By End-user, 2022 - 2028 (USD Billion)
  • 45. The Middle-East and Africa Green Energy Market revenue, By Type, 2022 - 2028 (USD Billion)
  • 46. The Middle-East and Africa Green Energy Market revenue, By End-user, 2022 - 2028 (USD Billion)
  • 47. GCC Countries Green Energy Market revenue, By Type, 2022 - 2028 (USD Billion)
  • 48. GCC Countries Green Energy Market revenue, By End-user, 2022 - 2028 (USD Billion)
  • 49. South Africa Green Energy Market revenue, By Type, 2022 - 2028 (USD Billion)
  • 50. South Africa Green Energy Market revenue, By End-user, 2022 - 2028 (USD Billion)
  • 51. Rest of Middle-East Africa Green Energy Market revenue, By Type, 2022 - 2028 (USD Billion)
  • 52. Rest of Middle-East Africa Green Energy Market revenue, By End-user, 2022 - 2028 (USD Billion)

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FrequentlyAsked Questions

The rising pressure on industries and businesses to opt for cleaner energy is expected to aid the growth of the global energy market during the forecast period. This is also aided by the depletion of fossil fuel or natural gases making their accessibility difficult as well as expensive thus creating more demand for green energy creation. The rising awareness amongst the general population about the deterioration of the environment has aided the shift in preference of the end consumers towards less harmful energy sources and accommodate their use wherever possible like the use of solar panels at homes to generate electricity or the adoption of EV over gas-run vehicles. The preference change is anticipated to aid the global market expansion.

According to Zion Market Research, the global green energy market was valued at $900B in 2021 and is expected to grow at a CAGR of 8.5% by 2028 and generate a market revenue of $1,950B during the forecast period.

Asia Pacific is anticipated to dominate the global green energy market owing to the increasing population, rapid cities' rapid modernization, and robust industrialization. This has propelled the use of energy consumption leading to detrimental climatic changes in this region pressurizing the governments to take necessary measures like the adoption of green energy wherever possible and laying down stringent regulations for businesses in terms of the release of harmful gases from their manufacturing units.

Some of the leading players in the global green energy market are SynTech Bioenergy, Canadian Solar Inc., Ocean Power Technologies, Invenergy LLC, Innergex, Tocardo BV, TATA Power, Ørsted, ONPOWER Business Energy, ABB Product Group Solar, NextEra Energy, Inc., Vestas, Siemens AG, EDF.

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