Research Nester published a report titled “Green Energy Market: Global Demand Analysis & Opportunity Outlook 2030” which delivers detailed overview of the global green energy market in terms of market segmentation by type, application, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
The global green energy market is anticipated to grow at ~6.5% CAGR over the forecast period, i.e., 2022 – 2030. The market is segmented on the basis of type into hydro energy, wind energy, tidal energy, solar energy, geothermal energy, bio gas, and others, out of which, the solar energy segment is anticipated to hold a notable market share by the end of 2030, owing to the abundant availability of sunlight, readily available solar PV, growing adoption of solar energy, and subsidy on solar farms, among others. On the basis of application, the commercial segment is anticipated to hold largest market over the forecast period on the back of growing adoption of renewable sources of energy, on a utility-scale. For instance, commercial hydro power plants, wind farms or solar farms produce electricity for distribution on a utility scale.
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The market is estimated to grow on the back of increasing environmental awareness, as thermal power plants are major cause for global warming. Primarily, coal and petroleum were the sources of energy, which were used to generate electricity, but the emission of greenhouse gases during this process is the major reason for the shift from non-renewable to renewable sources of energy. This is estimated to boost the growth of the global green energy market. Moreover, increasing government initiatives to promote the adoption of green energy is the major factor driving the market growth.
On the basis of geographical analysis, the global green energy market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in Asia Pacific is estimated to garner the largest market share during the forecast period owing to the large number of commercial utility-scale solar farms and hydro power stations in the region. China and India are one of the largest producers of solar and hydroelectricity.
The research was global in nature and conducted in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa). In addition, areas like Market size, Y-O-Y growth & Opportunity Analysis, market players competitive study, investment opportunities, demand for future outlook etc. have been covered and displayed in the research report to ensure it dives deep to achieve strategic competitive intelligence in the segment.
Growing Environmental Awareness amongst People to boost the Market Growth
According to the International Energy Agency (IEA), the total global production of electricity using renewable resources will grow at around 45% in the upcoming years, as of 2020.
Increasing awareness regarding the drawbacks of coal-generated electricity, along with growing government initiatives, such as, government subsidy and incentives to promote clean green energy are estimated to boost the market growth.
“The Final Report will cover the impact analysis of COVID-19 on this industry.”
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However, high investment, and slow implementation are expected to operate as key restraint to the growth of the global green energy market over the forecast period.
This report also provides the existing competitive scenario of some of the key players of the global green energy market which includes company profiling of DuPont de Nemours, Inc., GE Group, Siemens AG, The Dow Chemical Company, Envision Group, Adwen GmbH, Ming Yang Smart Energy Group Ltd, Suzlon Energy Limited, ABB Ltd, Cybrid Technologies Inc. and others. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global green energy market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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