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Renewable Energy Market - Global Industry Analysis

Renewable Energy Market By Type (Solar, Biofuels, Geothermal, Hydropower and Wind Power) and By End Use Industry (Residential, Commercial, Industrial and Others): Global Industry Perspective, Comprehensive Analysis and Forecast, 2021 – 2028

Published Date: 25-Nov-2021 Category: Energy & Mining Report Format : PDF Pages: 185 Report Code: ZMR-1021 Status : Published

The Global Renewable Energy Market accounted for more than USD 751.95 Billion in 2020 and is expected to reach more than USD 1387.89 Billion by 2028, growing at a CAGR of more than 8.6% from 2021 to 2028.

Description

Market Overview

The Global Renewable Energy Market accounted for more than USD 751.95 Billion in 2020 and is expected to reach more than USD 1387.89 Billion by 2028, growing at a CAGR of more than 8.6% from 2021 to 2028.

Renewable energy refers to the generation of electricity through the renewable sources available to extract this energy. The renewable sources from which the generation of electricity is being carried out can be sub divided into solar energy, wind energy, biomass, geothermal and hydroelectricity. The volume of electricity generated through these sources helps in calculating and determining the volume of market on an annual basis of electricity generation.  Increased awareness regarding the safety and efficacy of environment and the limited presence of fossil fuels in driving the market growth.

Global Renewable Energy Market Size

COVID-19 Impact Analysis

Covid-19 has significantly impacted the Global Renewable Energy market. With the decreasing investment by a number of private and government authorities there has been a significant economic slowdown across the globe which has in turn resulted into a decline in the energy consumption. Favorable government policies have resulted into an increased adoption of renewable sources of energy and has helped the market growth, but the measures taken in order to curb the pandemic has caused a disruption in the supply chain which has delayed the ongoing projects. However, certain countries having energy sectors as essential services has seen a significant growth.

Growth Factors

The increasing concern regarding the safety and efficacy of environment with the increased governmental funding and investment in the generation and utilization of renewable sources of energy is driving the growth of the market across the globe. Rapid urbanization and industrialization have also been found to drive the market. Other factors such as cost effectiveness, environment friendly, less emissions of greenhouse gases specifically CO2 due to the utilization of fossil fuels are also anticipated to be responsible for the overall growth of the market.

Increasing technological advancement with the increased governmental investment in the renewable energy market is also contributing to the growth opportunities during the forecast period. Increasing strict rules and regulations policies regarding the environment in developing countries such as China and India are also expected to show the growth of the market.

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.

Type Segment Analysis Preview

Hydropower segment held a share of around 27.46% in 2020. The hydropower generation is a process that involves the utilization of running water to generate electricity. The hydropower segment serves as the largest gain from a renewable source in 2019 and due to their use in the electricity market the production from renewable energy market is expected to grow. The hydropower has certain benefits over other sectors under renewable energy market such as it has low operating expenses which has been enabling the growth of market and is expected to increase the demand and increase the growth of market in the forecast period.

Global Renewable Energy Market Share

Application Segment Analysis Preview

Industrial application segment will grow at a CAGR of more than 4.96% from 2021 to 2028. This is attributable to the rapid industrialization and urbanization. With the growing industrialization the need for having better and efficient energy sources to meet the overall industrial demand of power requirement is driving the growth of renewable energy market in the industrial segment. With the increasing governmental implementation regarding the safety and efficacy of environment the rapid growth of renewable energy market can be seen over the forecast period.

Regional Analysis Preview

The Asia Pacific region held a share of 29.45% in 2020. The region from over the years has seen an increasing demand for energy and with rapid industrialization in countries situated in this region such as China and India there is rise in demand for the generation of electricity from renewable sources and in order to meet the demand the region has developed and increased the power generation capacity which is owing to drive the overall renewable energy market in the forecast period. Other factors such as favorable governmental policies regarding the renewable sources, rapid industrialization and rise in population is also responsible for the market growth in this region.

Global Renewable Energy Market Regional Analysis

The European region is projected to grow at a CAGR of more than 7.6% over the forecast period. The European market is one of the largest markets in terms of revenue and is anticipated to drive the market growth in the forecast period. The region shows high availability of new forms of energy and has enabled to drive focus towards the sources which are yet to be utilized for the electricity generation such as offshore wind energy, energy from oceans which in turn helps in tapping energy from such undiscovered sources and drive the growth of market.

Key Market Players & Competitive Landscape

Some of key players in Renewable Energy market are Enel Spa, ABB Ltd., General Electric, EDF, The Tata Power Company Limited, Xcel Energy Inc., Geronimo Energy, Innergex, Invenergy, and ACCIONA.

Key players are focusing on adopting various strategies such as business expansion, product launch, partnership, collaboration, acquisition to have competitive presence in the market.

For example, Innergex has acquired Alterra. The acquisition has involved two geothermal facilities and has added around 485 MW (gross 1,049 MW) of renewable energy assets, to its portfolio.

The Global Renewable Energy market is segmented as follows:

By Type

  • Solar
    • Crystalline Thin Film
    • Silicon
    • Others
  • Biofuels
    • Biodiesel
    • Bio-Ethanol
  • Geothermal
    • Direct Use
    • Power Generation
  • Hydropower
  • Wind Power
    • Vertical Axis Wind Turbines
    • Horizontal Axis Wind Turbines

By End Use Industry

  • Residential
  • Commercial
  • 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 No. 1. Introduction
    • 1.1. Report Description
      • 1.1.1. Purpose of the Report
      • 1.1.2. USP & Key Offerings
    • 1.2. Key Benefits for Stakehulders
    • 1.3. Target Audience
    • 1.4. Report Scope
  • Chapter No. 2. Executive Summary
    • 2.1. Key Findings
      • 2.1.1. Top Investment Pockets
        • 2.1.1.1. Market Attractiveness Analysis, By Type
        • 2.1.1.2. Market Attractiveness Analysis, By Application
        • 2.1.1.3. Market Attractiveness Analysis, By Region
    • 2.2. Market Snapshot
    • 2.3. Global Renewable Energy Market, 2016 – 2028 (USD Million)
    • 2.4. Insights from Primary Respondents
  • Chapter No. 3. COVID 19 Impact Analysis
    • 3.1. Impact Assessment of COVID-19 Pandemic, By Region
      • 3.1.1. North America
      • 3.1.2. Europe
      • 3.1.3. Asia Pacific
      • 3.1.4. Latin America
      • 3.1.5. Middle East and Africa
    • 3.2. Quarterly Market Revenue and Forecast by Region 2020 & 2021
    • 3.3. Pre COVID-19 Market Revenue, By Region, 2016-2019 (USD Million)
    • 3.4. Post COVID-19 Market Revenue, By Region, 2020-2028 (USD Million)
    • 3.5. Key Strategies Undertaken by Companies to Tackle COVID-19
      • 3.5.1. Company Quarterly Revenue Analysis, 2019 & 2020
    • 3.6. Short Term Dynamics
    • 3.7. Long Term Dynamics
  • Chapter No. 4. Renewable Energy Market – By Type Segment Analysis
    • 4.1. Overview
      • 4.1.1. Market Revenue Share, By Type, 2020 & 2028
    • 4.2. Sular
      • 4.2.1. Market Size and Forecast, By Region (USD Million)
      • 4.2.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 4.2.3. Key Market Trends, Growth Factors, & Opportunities
    • 4.3. Hydropower
      • 4.3.1. Market Size and Forecast, By Region (USD Million)
      • 4.3.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 4.3.3. Key Market Trends, Growth Factors, & Opportunities
    • 4.4. Biofuels
      • 4.4.1. Market Size and Forecast, By Region (USD Million)
      • 4.4.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 4.4.3. Key Market Trends, Growth Factors, & Opportunities
    • 4.5. Geothermal
      • 4.5.1. Market Size and Forecast, By Region (USD Million)
      • 4.5.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 4.5.3. Key Market Trends, Growth Factors, & Opportunities
    • 4.6. Wind Power
      • 4.6.1. Market Size and Forecast, By Region (USD Million)
      • 4.6.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 4.6.3. Key Market Trends, Growth Factors, & Opportunities
  • Chapter No. 5. Renewable Energy Market – By Application Segment Analysis
    • 5.1. Overview
      • 5.1.1. Market Revenue Share, By Application, 2020 & 2028
    • 5.2. Residential
      • 5.2.1. Market Size and Forecast, By Region (USD Million)
      • 5.2.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 5.2.3. Key Market Trends, Growth Factors, & Opportunities
    • 5.3. Commercial
      • 5.3.1. Market Size and Forecast, By Region (USD Million)
      • 5.3.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 5.3.3. Key Market Trends, Growth Factors, & Opportunities
    • 5.4. Industrial
      • 5.4.1. Market Size and Forecast, By Region (USD Million)
      • 5.4.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 5.4.3. Key Market Trends, Growth Factors, & Opportunities
    • 5.5. Others
      • 5.5.1. Market Size and Forecast, By Region (USD Million)
      • 5.5.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 5.5.3. Key Market Trends, Growth Factors, & Opportunities
  • Chapter No. 6. Renewable Energy Market – Regional Analysis
    • 6.1. Overview
      • 6.1.1. Global Market Revenue Share, By Region, 2020 & 2028
      • 6.1.2. Global Market Revenue, By Region, 2016 – 2028 (USD Million)
    • 6.2. North America
      • 6.2.1. North America Market Revenue, By Country, 2016 – 2028 (USD Million)
      • 6.2.2. North America Market Revenue, By Type, 2016 – 2028
      • 6.2.3. North America Market Revenue, By Application, 2016 – 2028
    • 6.3. Europe
      • 6.3.1. Europe Market Revenue, By Country, 2016 – 2028 (USD Million)
      • 6.3.2. Europe Market Revenue, By Type, 2016 – 2028
      • 6.3.3. Europe Market Revenue, By Application, 2016 – 2028
    • 6.4. Asia Pacific
      • 6.4.1. Asia Pacific Market Revenue, By Country, 2016 – 2028 (USD Million)
      • 6.4.2. Asia Pacific Market Revenue, By Type, 2016 – 2028
      • 6.4.3. Asia Pacific Market Revenue, By Application, 2016 – 2028
    • 6.5. Latin America
      • 6.5.1. Latin America Market Revenue, By Country, 2016 – 2028 (USD Million)
      • 6.5.2. Latin America Market Revenue, By Type, 2016 – 2028
      • 6.5.3. Latin America Market Revenue, By Application, 2016 – 2028
    • 6.6. Middle East and Africa
      • 6.6.1. Middle East and Africa Market Revenue, By Country, 2016 – 2028 (USD Million)
      • 6.6.2. Middle East and Africa Market Revenue, By Type, 2016 – 2028
      • 6.6.3. Middle East and Africa Market Revenue, By Application, 2016 – 2028
  • Chapter No. 7. Renewable Energy Market – Industry Analysis
    • 7.1. Introduction
    • 7.2. Market Drivers
      • 7.2.1. Driving Factor 1 Analysis
      • 7.2.2. Driving Factor 2 Analysis
    • 7.3. Market Restraints
      • 7.3.1. Restraining Factor Analysis
    • 7.4. Market Opportunities
      • 7.4.1. Market Opportunity Analysis
    • 7.5. Porter’s Five Forces Analysis
    • 7.6. PEST Analysis
    • 7.7. Regulatory Landscape
    • 7.8. Technulogy Landscape
    • 7.9. Regional Market Trends
      • 7.9.1. North America
      • 7.9.2. Europe
      • 7.9.3. Asia Pacific
      • 7.9.4. Latin America
      • 7.9.5. Middle East and Africa
    • 7.10. Pricing Analysis
    • 7.11. Value Chain Analysis
    • 7.12. Downstream Buyers
    • 7.13. Distributors/Traders List
  • Chapter No. 8. Competitive Landscape
    • 8.1. Company Market Share Analysis – 2019
      • 8.1.1. Global Renewable Energy Market: Company Market Share, 2019
      • 8.1.2. Global Renewable Energy Market, Company Market Revenue, 2016 – 2019 (USD Million)
      • 8.1.3. Global Renewable Energy Market, Company Y-o-Y Growth, 2017 – 2019 (%)
      • 8.1.4. Global Renewable Energy Market: Radar Determinant Chart, 2019
    • 8.2. Strategic Developments
      • 8.2.1. Acquisitions & Mergers
      • 8.2.2. New Product Launch
      • 8.2.3. Regional Expansion
    • 8.3. Company Strategic Developments – Heat Map Analysis
  • Chapter No. 9. Company Profiles
    • 9.1. Enel Spa
      • 9.1.1. Company Overview
      • 9.1.2. Key Executives
      • 9.1.3. Product Portfulio
      • 9.1.4. Financial Overview
      • 9.1.5. Operating Business Segments
      • 9.1.6. Business Performance
      • 9.1.7. Recent Developments
    • 9.2. ABB Ltd.
    • 9.3. General Electric
    • 9.4. EDF
    • 9.5. The Tata Power Company Limited
    • 9.6. Xcel Energy Inc.
    • 9.7. Geronimo Energy
    • 9.8. Innergex
    • 9.9. Invenergy
    • 9.10. ACCIONA.
  • Chapter No. 10. Marketing Strategy Analysis
    • 10.1. Marketing Channel
    • 10.2. Direct Marketing
    • 10.3. Indirect Marketing
    • 10.4. Marketing Channel Development Trends
    • 10.5. Economic/Pulitical Environmental Change
  • Chapter No. 11. Research Methodulogy
    • 11.1. Research Methodulogy
    • 11.2. Phase I - Secondary Research
    • 11.3. Phase II - Data Modeling
      • 11.3.1. Company Share Analysis Model
      • 11.3.2. Revenue Based Modeling
    • 11.4. Phase III - Primary Research
    • 11.5. Research Limitations
      • 11.5.1. Assumptions

List of Figures 

FIG NO. 1. Market Attractiveness Analysis, By Type
FIG NO. 2. Market Attractiveness Analysis, By Application
FIG NO. 3. Market Attractiveness Analysis, By Region
FIG NO. 4. Global Renewable Energy Market Revenue, 2016 – 2028 (USD Million)
FIG NO. 5. Impact of COVID-19 Pandemic in North America Countries
FIG NO. 6. Market Revenue Share, By Type, 2020 & 2028
FIG NO. 7. Global Renewable Energy Market for Solar, Revenue (USD Million) 2016 – 2028
FIG NO. 8. Comparative Revenue Analysis of Renewable Energy Market for Solar, By Country, 2020 & 2028
FIG NO. 9. Global Renewable Energy Market for Hydropower, Revenue (USD Million) 2016 – 2028
FIG NO. 10. Comparative Revenue Analysis of Renewable Energy Market for Hydropower, By Country, 2020 & 2028
FIG NO. 11. Global Renewable Energy Market for Biofuels, Revenue (USD Million) 2016 – 2028
FIG NO. 12. Comparative Revenue Analysis of Renewable Energy Market for Biofuels, By Country, 2020 & 2028
FIG NO. 13. Global Renewable Energy Market for Geothermal, Revenue (USD Million) 2016 – 2028
FIG NO. 14. Comparative Revenue Analysis of Renewable Energy Market for Geothermal, By Country, 2020 & 2028
FIG NO. 15. Global Renewable Energy Market for Wind Power, Revenue (USD Million) 2016 – 2028
FIG NO. 16. Comparative Revenue Analysis of Renewable Energy Market for Wind Power, By Country, 2020 & 2028
FIG NO. 17. Market Revenue Share, By Application, 2020 & 2028
FIG NO. 18. Global Renewable Energy Market for Residential, Revenue (USD Million) 2016 – 2028
FIG NO. 19. Comparative Revenue Analysis of Renewable Energy Market for Residential, By Country, 2020 & 2028
FIG NO. 20. Global Renewable Energy Market for Commercial, Revenue (USD Million) 2016 – 2028
FIG NO. 21. Comparative Revenue Analysis of Renewable Energy Market for Commercial, By Country, 2020 & 2028
FIG NO. 22. Global Renewable Energy Market for Industrial, Revenue (USD Million) 2016 – 2028
FIG NO. 23. Comparative Revenue Analysis of Renewable Energy Market for Industrial, By Country, 2020 & 2028
FIG NO. 24. Global Renewable Energy Market for Others, Revenue (USD Million) 2016 – 2028
FIG NO. 25. Comparative Revenue Analysis of Renewable Energy Market for Others, By Country, 2020 & 2028
FIG NO. 26. Global Renewable Energy Market Revenue Share, By Region, 2020 & 2028
FIG NO. 27. North America Renewable Energy Market Revenue, 2016 - 2028 (USD Million)
FIG NO. 28. Porter’s Five Forces Analysis for Global Renewable Energy Market
FIG NO. 29. PEST Analysis for Global Renewable Energy Market
FIG NO. 30. Pricing Analysis for Global Renewable Energy Market
FIG NO. 31. Value Chain Analysis for Global Renewable Energy Market
FIG NO. 32. Company Share Analysis, 2019
FIG NO. 33. Radar Determinant Chart, 2019
FIG NO. 34. Company Strategic Developments – Heat Map Analysis
FIG NO. 35. Enel Spa Business Segment Revenue Share, 2020 (%)
FIG NO. 36. Enel Spa Geographical Segment Revenue Share, 2020 (%)
FIG NO. 37. Market Channels
FIG NO. 38. Marketing Channel Development Trend
FIG NO. 39. Growth in World Gross Product, 2008-2018
FIG NO. 40. Research Methodology – Detailed View
FIG NO. 41. Research Methodology
  


List of Tables

TABLE NO. 1. Global Renewable Energy Market: Snapshot
TABLE NO. 2. Quarterly Renewable Energy Market Revenue by Region, 2020
TABLE NO. 3. Quarterly Renewable Energy Market Revenue Forecast by Region, 2021
TABLE NO. 4. Pre COVID-19 Market Revenue, By Region, 2016-2019 (USD Million)
TABLE NO. 5. Post COVID-19 Market Revenue, By Region, 2020-2028 (USD Million)
TABLE NO. 6. Global Renewable Energy Market for Solar, by Region, 2016 – 2028 (USD Million)
TABLE NO. 7. Global Renewable Energy Market for Hydropower, by Region, 2016 – 2028 (USD Million)
TABLE NO. 8. Global Renewable Energy Market for Biofuels, by Region, 2016 – 2028 (USD Million)
TABLE NO. 9. Global Renewable Energy Market for Geothermal, by Region, 2016 – 2028 (USD Million)
TABLE NO. 10. Global Renewable Energy Market for Wind Power, by Region, 2016 – 2028 (USD Million)
TABLE NO. 11. Global Renewable Energy Market for Residential, by Region, 2016 – 2028 (USD Million)
TABLE NO. 12. Global Renewable Energy Market for Commercial, by Region, 2016 – 2028 (USD Million)
TABLE NO. 13. Global Renewable Energy Market for Industrial, by Region, 2016 – 2028 (USD Million)
TABLE NO. 14. Global Renewable Energy Market for Others, by Region, 2016 – 2028 (USD Million)
TABLE NO. 15. Global Renewable Energy Market Revenue, By Region, 2016 – 2028 (USD Million)
TABLE NO. 16. North America Renewable Energy Market Revenue, By Country, 2016 – 2028 (USD Million)
TABLE NO. 17. North America Renewable Energy Market Revenue, By Type, 2016 – 2028 (USD Million)
TABLE NO. 18. North America Renewable Energy Market Revenue, By Application, 2016 – 2028 (USD Million)
TABLE NO. 19. Drivers for the Renewable Energy Market: Impact Analysis
TABLE NO. 20. Restraints for the Renewable Energy Market: Impact Analysis
TABLE NO. 21. Major Buyers of Renewable Energy
TABLE NO. 22. Distributors/Traders List of Renewable Energy
TABLE NO. 23. Global Renewable Energy Market, Company Market Revenue, 2016 – 2019 (USD Million)
TABLE NO. 24. Global Renewable Energy Market, Company Y-o-Y Growth, 2017 – 2019 (USD Million)
 

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FrequentlyAsked Questions

The global Renewable Energy Market was valued at USD 1387.89 Billion in 2020.

The global Renewable Energy Market is expected to reach more than USD 751.95 Billion in 2020 and is expected to reach more than USD 1387.89 Billion by 2028, growing at a CAGR of more than 8.6% from 2021 to 2028.

The increasing concern regarding the safety and efficacy of environment with the increased governmental funding and investment in the generation and utilization of renewable sources of energy is driving the growth of the market across the globe. Rapid urbanization and industrialization have also been found to drive the market. Other factors such as cost effectiveness, environment friendly, less emissions of greenhouse gases specifically CO2 due to the utilization of fossil fuels are also anticipated to be responsible for the overall growth of the market.

The Asia Pacific region held a share of 29.45% in 2020. The region from over the years has seen an increasing demand for energy and with rapid industrialization in countries situated in this region such as China and India there is rise in demand for the generation of electricity from renewable sources and in order to meet the demand the region has developed and increased the power generation capacity which is owing to drive the overall renewable energy market in the forecast period.

Some of the major companies operating in the Renewable Energy Market are Enel Spa, ABB Ltd., General Electric, EDF, The Tata Power Company Limited, Xcel Energy Inc., Geronimo Energy, Innergex, Invenergy, and ACCIONA.

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