Renewable Energy Market: 2019 Global Industry Size, Growth, Share, Trends, Value, Emerging Technologies, Growth, And Regional Outlook To 2023
Renewable Energy Market Research Report 2019-2023, is latest report on Global Renewable Energy Industry, published by Market Research Future . According To this report Renewable Energy Market to Showcase 8.90% CAGR During Forecast Timeline of 2019 to 2023.
Pune, India – March 4, 2019 /MarketersMedia/ —
Rising Awareness Towards Climate Changeto Spur Major Growth in Renewable Energy Market. Favorable Government Initiatives to Drive Renewable Energy Market.
Renewable Energy Market Overview
Renewable energy is generated from sources that are replenished naturally, such as hydro, solar, geothermal, and wind, unlike non-renewable sources of energy such as coal and other fossil fuels. Generation and usage of conventional sources of energy is expensive and damaging to the environment, leading to a rise in demand for renewable energy.
Key Players
The key players in the global renewable energy market are Ocean Power Technologies, Inc (US), rsted A/S (Denmark), General Electric (US), NextEra Energy, Inc (US), Enel Spa (Italy), On Power (Iceland), Yingli Solar (China), Tocardo BV (the Netherlands), SynTech Bioenergy LLC (US), Vestas Wind Systems A/S (Denmark), Siemens AG (Germany), and Canadian Solar Inc. (Canada).
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According to the latest report published by Market Research Future (MRFR), the global renewable energy market is estimated to showcase an 8.90% CAGR during the forecast period. Key factors driving the renewable energy market include a rising demand for energy, as well as, favorable government initiatives, and better economies of scale are driving the global renewable energy market.
Furthermore, increased awareness towards carbon emission and its contribution to climate change has influenced the adoption of clean energy sources over non-renewable energy sources. Solar energy is deemed to be the best alternative to fossil fuel-based energy resources such as coal and natural gas, and also helps in the reduction of carbon emission, by effectively meeting electrical needs.
Segmental Analysis
The global market for renewable energy sources has been segmented on the basis of type, end use, and region. On the basis of type, the market is segmented into hydropower, wind energy, solar energy, bioenergy, geothermal energy, and ocean energy. Based upon end users, the renewable energy market has been segmented into industrial, residential, and commercial. The segment of industrial is further segmented into power, iron & steel, chemicals & petrochemicals, oil & gas, food & beverages, and automotive.
Globally, hydropower is the leading source of renewable energy and contributes a major share to the total amount of energy produced. There are several opportunities available in the development of global hydropower generation, with approximately 10,000 TWh/year of unutilized hydropower potential.
Some of the countries contributing to global hydropower generation include China, India, Canada, and Russia.
Detailed Regional Analysis
In the latest report by MRFR, the renewable energy market has been segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa, and South America. APAC is expected to garner the largest market share for renewable energy because of the rising demand for renewable energy due to the growing population in the region, as well as increased per capita disposable income. According to the International Renewable Energy Agency, Asia accounted for two-thirds of the global increase in renewable generating capacity in 2017. China and India have been major contributors in the region, with the renewable capacity of Asia Pacific doubling over the last 5 years.
APAC-based countries are focusing on renewable energy sources such as wind, solar energy, bioenergy, and hydropower because of rising environmental concerns, volatility in prices, and supply security. Asia Pacific alone is estimated to have contributed 42% of the global solar capacity in 2017. During the same year, North America contributed 20% of the total electricity generated, globally. Economic growth in this region is projected to drive the demand for electricity during the forecast timeline.
The National Administration of China stated that the installed PV capacity was 77.42 GW and solar plants in the country generated 66.2 billion kilowatt-hours of power in 2016. Another factor driving the market is China s plans to add 110 GW of solar power within the next three years. Moreover, China plans on increasing the share of renewable energy in the electricity generation mix from 7% in 2015, to 67% in 2050, driving tremendous growth in the renewable energy market.
Table Of Content:
1 Executive Summary $ 1,350.00
2 Market Introduction$ 0.00
2.1Market Definition
2.2 Scope Of The Study
2.3 Market Structure
3 Research Methodology $ 0.00
3.1 Primary Research
3.2 Secondary Research
3.3 Market Size Estimation
3.4 Forecast Model
3.5 List Of Assumptions
4 Market Landscape $ 950.00
5 Market Dynamics$ 950.00
5.1 Introduction
5.2 Market Drivers
5.3 Market Restraints
5.4 Market Opportunities
5.5 Porter s Five Forces Analysis
5.5.1 Threat Of New Entrants
5.5.2 Bargaining Power Of Buyers
5.5.3 Bargaining Power Of Suppliers
5.5.4 Threat Of Substitutes
5.5.5 Intensity Of Rivalry
5.6 Value Chain/Supply Chain Analysis
Continued
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