Renewable Energy Market: 2019 Global Size, Share, Growth Analysis, Trends, Leading Players, Emerging Technologies, And Regional Forecast To 2023
Mar 1, 2019
Renewable Energy Market 2019 Industry Research Report is a professional and in-depth study on the current state of the Global Renewable Energy industry. This report studies Renewable Energy in Global market, especially in North America, China, Europe, Southeast Asia, Japan and India.
Pune, India - March 1, 2019 /MarketersMedia/ —
Renewable Energy Market 2019 Industry Research Report is a professional and in-depth study on the current state of the Global Renewable Energy industry. This report studies Renewable Energy in Global market, especially in North America, China, Europe, Southeast Asia, Japan and India with production, revenue, consumption, import and export in these regions, from 2019 with forecast to 2023. Report Analyzes Global Renewable Energy Market Historic and Forecast data by segments, key country, and region.
Renewable Energy Market Key Players Analyzed in Report are:
The key players of 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), among others.
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Global Renewable Energy market is expected to witness substantial growth during the forecast period. In 2017, North America contributed 20% to the total amount of electricity generated, globally. The demand for electricity in the region is expected to keep growing during the forecast period, owing to economic growth. In 2015, 20% of North America s electricity was generated from renewables. It is expected to reach 29% by 2025. Moreover, according to the National Energy Administration of China, in 2016, the installed PV capacity was 77.42 GW and solar plants in the country generated 66.2 billion kilowatt-hours of power in the same year. The country has plans to add 110 GW of solar power within the next three years, which is driving the market. Moreover, the country has plans to increase the share of renewable energy in the electricity generation mix from 7% in 2015, to 67% in 2050, which further adds to the renewable energy in the country. All these factors are likely to drive the renewable energy market.
Renewable energy is generated from sources that do not have a finite end, such as solar, wind, hydropower, and so on. These primary renewable energy resources are continuously replenished and never run out, unlike conventional energy sources, which are expensive and damaging to the environment. Solar energy is used for heating and lighting homes and commercial buildings. This form of renewable energy resource is also used for generating electricity, heating water, and several other industrial and commercial uses.
Market Segmentation:
Renewable Energy market has been segmented on the basis of type, end-use, and region. Based on type, the market is classified into hydropower, wind energy, solar energy, bioenergy, geothermal energy, and ocean energy. Hydropower is the leading source of renewable energy and contributes major share to the total renewable energy produced, globally. In 2017, the global hydropower installed capacity reached 1,200 GW. Globally, there are several opportunities available for the development of hydropower generation, including almost 10,000 TWh/year unutilized hydropower potential. Some of the leading countries using hydropower generation are China, India, Canada, and Russia.
Regional Analysis:
Renewable Energy market by region is segmented into Asia Pacific, North America, Europe, the Middle East & Africa, and South America. Asia-Pacific is expected to hold the largest share during the forecast period due to increased demand for energy and because of the growing population and rising per capita disposable income in the region. Moreover, these rapidly growing economies in this region are also the top polluters in the world. According to the International Renewable Energy Agency, Asia accounted for around two-thirds of the worldwide increase in renewable generating capacity in 2017.
Renewable energy capacity doubled over the past five years, reaching nearly 9,168 GW in 2017, with China and India contributing the highest in the region. Also, countries in Asia-Pacific are focusing on renewable energy sources such as wind, bioenergy, solar, and hydropower due to the environmental concerns, price volatility, and security of supply. Moreover, Asia-Pacific alone accounted for 64% of new capacity from solar panels in 2017, which was 58% in the previous year, summing up to a total of 919 GW, which contributes to 42% of global solar capacity. Solar energy is identified as the best alternative to other conventional fossil fuel energy sources and can be used to reduce carbon emission by effectively meeting the electricity needs.
List of Tables:
Table 1 Global Renewable Energy Market, By Region, 2016-2023 (USD Million)
Table 2 North America Renewable Energy Market, By Country, 2016-2023 (USD Million)
Table 3 Europe Renewable Energy Market, By Country, 2016-2023 (USD Million)
Table 4 Asia-Pacific Renewable Energy Market, By Country, 2016-2023 (USD Million)
Table 5 Middle East & Africa Renewable Energy Market, By Country, 2016-2023 (USD Million)
Table 5 South America Renewable Energy Market, By Country, 2016-2023 (USD Million)
Continued
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