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Renewable Energy Market Analysis 2023: Industry Outlook, Share Analysis, Size And Forecast To 2032 | ABB Ltd., Acciona Energia SA, EDF SA, Enel Group, General Electric Energy
Renewable Energy Market
The Business Research Company's Renewable Energy Global Market Report 2023 identifies increase in power consumption as the major driver for the Renewable Energy market's growth in the forecast period. Global energy demand is rising due to increased industrial activity and technological advancements in developing and developed countries.
The global renewable energy market size grew from $952.85 billion in 2022 to $1035.69 billion in 2023 at a compound annual growth rate (CAGR) of 8.7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The renewable energy market size is expected to grow to $1404.48 billion in 2027 at a CAGR of 7.9%.
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Major competitors in the Renewable Energy market are ABB Ltd., Acciona Energia SA, EDF SA, Enel Group, General Electric Energy.
A key trend in the Renewable Energy market includes technological advancement. Renewable technologies are recognized as green energy sources. The effective utilization of these resources minimizes environmental consequences, produces minimal secondary waste, and is sustainable in light of present and projected economic and societal needs. Recently, the market has witnessed the use of bio-mass energy and dual-module solar systems that can significantly reduce greenhouse gas emissions. Major companies in the renewable energy market are advancing in their new technologies and research and development to sustain their market position. For instance, In March 2022, Gautam Solar, an India-based Solar panels manufacturer, launched a G-2X dual-generation monocrystalline technology solar modules.
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https://www.thebusinessresearchcompany.com/report/renewable-energy-global-market-report
The Renewable Energy market is segmented -
1. By Type: Solar Energy, Wind Energy, Bio Energy, Hydro Energy, Geothermal Energy
2. By Capacity: 0-1,000KWH, 1,100-5,000KWH, More than 5,000KWH
3. By End User: Residential, Commercial, Industrial, Utility
4. By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Asia-Pacific was the largest region in the Renewable Energy market.
The Business Research Company's "Global Renewable Energy Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Renewable Energy Market Include:
1. Executive Summary
2. Renewable Energy Market Characteristics
3. Renewable Energy Market Trends And Strategies
4. Renewable Energy Market - Macro Economic Scenario
5. Renewable Energy Market Size And Growth
……
26. Africa Renewable Energy Market
27. Renewable Energy Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Renewable Energy Market
29. Renewable Energy Market Future Outlook and Potential Analysis
30. Appendix
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