Renewable Energy Market: Top growth drivers & revenue making strategies by 2025

The concept of using renewable energy as an alternative to conventional fossil fuel, such as gasoline and diesel, is growing rapidly. Renewable source of energy, such as solar, hydropower, biomass, wind, and geothermal, can provide sustainable energy services. Improvement in technology and the feasibility in using renewable sources to produce energy have been the key in successfully using renewable energy in resent time.

The global renewable energy market was valued at $1,469,078 million in 2017, and is projected to reach $2,152,903 million by 2025, growing at a CAGR of 4.9% from 2017 to 2025. The renewable energy produced by hydro & ocean power accounted for more than two-thirds share of the global market in 2016. Asia-Pacific and Europe collectively accounted for more than two-third of the global market share by revenue in 2016.

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The market is driven by increase in demand for energy across the world and decline in non-renewable source of energy such as petroleum, coal, and natural gas. In addition, it is fueled by the increase in awareness about environmental safety and security. Though, the high initial cost of investment for the infrastructural setup is a major restraint in renewable energy market. However, the continuous development of technology has led to the use of new technologies to extract energy from renewable source and increased government funding has paved the way for new opportunities for market growth.

Key benefits for Stakeholders:
•This report provides a quantitative analysis of the current trends, estimations, and dynamics through 2014-2025, which assist to identify the prevailing market opportunities.
•Major countries in each region are mapped as per key trends and opportunities of the market and presence of major players.
•Region- and country-wise market conditions are comprehensively analyzed in the report.
•Key players of the renewable energy market are also listed.
•This study evaluates value chain to understand the competitive environment across geographies.
•An in-depth analysis of segmentation is provided to elucidate the dominant opportunities.

The major companies profiled in this report are GE Energy, CPFL Energia S.A., Terra Gen, Tata Power Solar, IHI Corporation, Alstom Hydro, China Hydroelectric Corporation, ABB Ltd., Mitsubishi Heavy Industry, and Enel Green Power.

Renewable Energy Market Key Segments:

By Type
• Hydro & Ocean Power
o Wave Energy
o Tidal Energy
o Other

• Wind Energy
o Offshore
o Onshore
• Solar Energy
o Solar PV
o CSP

• Bioenergy
o Bio-alcohol
o Biomass
o Bio-diesel
o Others
• Geothermal Energy

By End User
• Residential
• Commercial
• Industrial & Others

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The other players in the value chain include Vestas Wind Systems A/S, UpWind Solutions, Inc., Senvion S.A., Sinovel Wind Group Co., Ltd, ENERCON GmbH, Siemens Wind Power GmbH & Co.KG, Nordex SE, Suzlon Energy Limited, Vestas Wind Systems A/S, and SIEMENS GAMESA RENEWABLE ENERGY, S.A.

About Allied Market Research
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