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Renewable Energy Technologies Market 2018: In-depth Growth Predictions, Application Scope, Latest Developments | Top Players Vestas Wind Systems A/S, SMA Solar Technology, AG, and Ocean Power Technologies

05-15-2019 03:32 PM CET | Energy & Environment

Press release from: Coherent Market Insight

Renewable Energy Technologies

Renewable Energy Technologies

Renewable energy technologies convert the energy that is collected from renewable sources of energy such as the Sun, wind waves, and geothermal energy amongst others into electricity, fuel, and heat. Renewable energy technologies are used for vital purposes such as generation of electricity, especially for rural electrification in emerging economies such as India and China amongst others, for heating and cooling of water, and for transportation. Sources of renewable energy are present in most of the geographical areas, as compared to non-renewable sources of energy, which are present only in few countries in limited quantities. Renewable energy, being an efficient source of energy, is widely being adopted. Thus, various countries are entering into energy security agreements so as to protect the environment and boost the economic growth.

Best Share and Growing Forecast in Renewable Energy Technologies Market PDF: https://www.coherentmarketinsights.com/insight/request-pdf/1655

Key Players
Major players operating in the renewable energy technology market include Innergex Renewable Energy Inc, Infigen Energy, Goldwind, First Solar, Inc., Aventine Renewable Anwell Technologies Ltd., SunPower Corporation, Yingli Green Energy Holding Co, LTD., Vestas Wind Systems A/S, SMA Solar Technology, AG, and Ocean Power Technologies, Inc. amongst others.

Market Trends
• The solar energy segment is expected to be the most dominant technology type in the global renewable energy technology market over the forecast period. This is due to the surplus availability of sunlight and the ease with, which the sunlight can be converted into energy with the help of modules. Hence, many economies are harnessing solar energy to meet their energy requirements. According to the International Energy Agency (IEA), China installed around 34 GW of solar based modules in 2016 so as to become a leading player in this segment. Furthermore, according to the Japanese Ministry of Economy, Trade and Industry, Japan witnessed growth of approximately 4.3% in solar energy production in 2016. The European Union aims on meeting approximately 12% of its energy requirements by using solar energy by the year 2020.

Market Dynamics
• The changing climatic conditions that has resulted in global warming, unstable oil prices, and increasing government support for the use of renewable sources of energy are spurring renewable energy legislations, incentives provided by governments, and commercialization of these sources of energy. Rising government spending, regulations associated with the use of non-renewable sources of energy, and policies are some of the major factors that are expected to drive growth of the renewable energy technologies market. According to a 2016 projection by the International Energy Agency (IEA), solar energy is expected to meet most of the global electricity demand in the next 50 years, thus reducing the greenhouse gas emissions from non-renewable sources of energy that harm the environment.

Market Outlook
• The IEA expects renewable energy to equal coal and natural gas electricity generation costs by 2040. A number of countries such as Denmark, Australia, Germany, and the U.S.  are increasingly adopting renewable sources of energy, in order to suffice the energy demands. For instance, according to the IEA, in 2015, wind energy met around 42% of the total electricity demand in Denmark, 23.2% in Portugal, and 15.5% in Uruguay. Solar water heaters play an important role in contributing towards the adoption of renewable energy for heating, with China contributing to around 70% of the global total of solar water systems. Globally, the solar water heating systems meet a portion of the water heating needs of over 70 million households.

Place a customization Before Buying 'Renewable Energy Technologies Market Industry Report 2026' @ https://www.coherentmarketinsights.com/insight/request-customization/1655

Market Taxonomy
On the basis of energy type, the global renewable energy technologies market is segmented into:
• Solar
• Wind
• Tidal
• Geothermal
• Hydroelectric
• Others
On the basis of application, the global renewable energy technologies market is segmented into:
• Residential
• Non-Residential
• Others

RESEARCH METHODOLOGY
Coherent Market Insights followsa comprehensive research methodology focused on providing the most precise market analysis. The company leverages a data triangulation model which helps company to gauge the market dynamics and provide accurate estimates. Key components of the research methodologies followed for all our market reports include:
• Primary Research (Trade Surveys and Experts Interviews)
• Desk Research
• Proprietor Data Analytics Model
In addition to this, Coherent Market Insights has access to a wide range of the regional and global reputed paid data bases, which helps the company to figure out the regional and global market trends and dynamics. The company analyses the industry from the 360 Degree Perspective i.e. from the Supply Side and Demand Side which enables us to provide granular details of the entire ecosystem for each study. Finally, a Top-Down approach and Bottom-Up approach is followed to arrive at ultimate research findings.

About Coherent Market Insights:
Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysisthrough various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.

Contact Us:
Mr. Shah
Coherent Market Insights
1001 4th Ave,
#3200
Seattle, WA 98154
Tel: +1-206-701-6702
Email: sales@coherentmarketinsights.com

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