Green power Market Size 2023: Global Trends, Share, Growth and Report Analysis by 2028

How Big Is the Green power Market?

The global green power market size reached US$ 59.1 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 96.7 Billion by 2028, exhibiting a growth rate (CAGR) of 11.56% during 2023-2028.

Industry Overview of Green power Market

Green energy refers to electrical power generated from renewable and environmentally conscious sources. These sources encompass wind, solar, geothermal, low-impact biomass, and hydropower. The production of green energy stands apart for its lack of harmful greenhouse gas emissions, signifying it as a clean and sustainable energy choice. Through the utilization of natural resources, green energy provides a responsible alternative to the detrimental impacts associated with fossil fuels. Moreover, this type of electrical power aids in counterbalancing emissions of pollutants like nitrogen dioxide, oxide, and sulfur dioxide, substantially curbing the environmental and human health harm compared to conventional energy resources. Embracing green energy constitutes a pivotal stride toward fostering a more sustainable and eco-friendly future.

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Global Industry Trends and Drivers:

The escalating global population and the prevailing trend of urbanization are driving an elevated demand for electricity generation, constituting a primary impetus behind the expansion of the green power market. Concurrently, the construction of residential and commercial structures and the growing individual consciousness concerning the health and environmental advantages of green power are additionally stoking the momentum of market growth. Furthermore, the surge in demand for renewable green energy sources is intimately tied to the proliferation of electric vehicles (EVs), which offer emission-free mobility, reduced dependence on fossil fuels, improved public health, enhanced energy security, and burgeoning job prospects. This transformative trend is notably catapulting the global market forward. Moreover, the swift electrification of transportation and industrial sectors, coupled with innovative strides and advancements in electrical energy technologies, loom as pivotal catalysts in market expansion. Concurrently, governmental initiatives aimed at promoting renewable energy sources and fostering awareness about environmentally sound alternatives are poised to contribute substantially to the flourishing trajectory of the green power market in the foreseeable future.

What Is Included In Market Segmentation?

The report has been segmented the market into following categories:

Breakup by Power Source:
• Wind
• Solar
• Low Impact Hydro
• Biomass
• Others

Breakup by End Use Sector:
• Transport
• Industrial
• Non-combusted
• Buildings
• Others

Breakup by Region:
• North America
o United States
o Canada
• Asia-Pacific
o China
o Japan
o India
o South Korea
o Australia
o Indonesia
o Others
• Europe
o Germany
o France
o United Kingdom
o Italy
o Spain
o Russia
o Others
• Latin America
o Brazil
o Mexico
o Others
• Middle East and Africa

The report provides a comprehensive analysis of the industry key players listed below:

ABB Ltd., Acciona S.A., Adani Green Energy Limited (Adani Group), Électricité de France S.A., GE Renewable Energy (General Electric Company), Iberdrola S.A., Innergex Renewable Energy (Hydro-Québec), Invenergy LLC, NextEra Energy Inc., Orsted AS, Siemens Energy AG, Suzlon Energy Limited and Tata Power Company Limited.

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