Green Power Market Opportunities, Business Forecast To 2029

The global green power market size was valued at USD 45,372.4 million in 2022 and is expected to grow at a 11.3% CAGR from 2023 to 2029. The primary drivers of the expansion of the global green power market include the increasing consciousness among the public in reducing carbon footprints in environment influences the demand for renewable energy thus drives the green power market over the forecast period.

View the detailed report description here - https://precisionbusinessinsights.com/market-reports/green-power-market

Hydroelectric Power Segment is expected to Dominate the Green Power Market:
Based on the energy source, the global green power market is segmented into Solar Energy, Wind Energy, Geothermal Energy, Hydroelectric power, Bioenergy, and Others. The Hydroelectric power segment is expected to account for a larger revenue share in the global green power market. The hydroelectric power is generated when the fast flow of water rotated the turbines of hydro power plant which converts kinetic energy into electrical energy. Increasing number of water dams and increasing hydropower plants are expected to drive the green power market in this segment over the forecast years. The solar energy is also expected to have a significant growth owing to reduced cost solar modules and its high efficiency in electricity generation.

Asia Pacific Green Power Market:
The Asia Pacific green power market is expected to increase over the forecast period due to the growing demand of electricity owing to larger population present in this region. Increasing government initiatives in reducing the use of fossil fuel in regions like India and China are expected to drive the market growth in this region. In addition, growing demand for electric vehicle in this region is expected to further boost the growth of green power market. In addition, stringent policies by government and various initiatives and subsidies produced by the Government for supporting the increase of green power solutions across Asia Pacific nations is expected to further fuel the market growth in this region.

Strategic New Product Launches, Mergers, Acquisitions, and Agreements are the key strategies adopted by market players:
The global green power market further reveals that the key players are increasingly adopting strategies such as the launch of newer products, product launches, and long-term alliances to improve market revenue share and gain significant geographic presence across the region. For instance, In May 2020, Abengoa collaborated with Acciona tom build Cerro Dominador solar plant possessed by EIG Global Energy Partners.

The Green Power market is segmented based on energy source, application, end user, and geography.

Based on the energy source, the market is segmented into the following:
• Solar Energy
• Wind Energy
• Geothermal Energy
• Hydroelectric power
• Bioenergy
• Others

Based on the application, the market is segmented into the following:
• Electricity generation
• Transportation
• Heating
• Others

Based on the end user, the market is segmented into the following:
• Residential
• Commercial
• Industrial
• Utility

Based on geography, the market is segmented into the following:
• North America
• Europe
• The Asia Pacific
• Latin America
• MEA

Request sample report at https://precisionbusinessinsights.com/request-sample/?product_id=809625

Key players profiles in the Green Power market report are Trina Solar, Adani Green Energy Ltd, Canadian Solar, Tata Power Solar Systems Limited, Innergex, Enel Green Power, Xcel Energy, Acciona, Upwind Solutions, Sinovel Wind Group Co Ltd., Geronimo Energy.

Contact:
Mr. Satya
Precision Business Insights | Toll Free: +1 866 598 1553
Email: sales@precisionbusinessinsights.com
Kemp House, 152 - 160 City Road, London EC1V 2NX
Web: https://precisionbusinessinsights.com/ | D U N S® Number: 852781747

About Precision Business Insights:
We are a market research company that strives to provide the highest quality market research insights. Our diverse market research experts are enthusiastic about market research and therefore produce high-quality research reports. We have over 500 clients with whom we have a good business partnership and capacity to provide in-depth research analysis for more than 30 countries. In addition to deliver more than 150 custom solutions, we already have accounts with the top five medical device manufacturers.

Precision Business Insights offers a variety of cost-effective and customized research services to meet particular research requirements. We are a leading research service provider because of our extensive database built by our experts and the services we provide.

This release was published on openPR.