The Global Renewable Energy Market is projected to reach USD 2,152.9 billion by 2025 and is expected to register a significant growth rate of 4.90% during forecast period 2018-2025, reveals a recent research report added by Big Market Research.
The study offers an extensive analysis of key drivers, opportunities, key segments, regions, and major manufacturers. Additionally, the competitive scenario in different geographies is outlined to assist new entrants, leading market players, and investors to determine emerging economies. Insights presented in the report would benefit market players to develop strategies for the future and gain a strong position in the global market.
On the basis of segmentation, the renewable energy market is segmented into type and end-user. The type segment of renewable energy market is classified into hydro & ocean power, wind energy, solar energy, bio energy and geothermal energy of which solar energy segment is anticipated to be the lucrative segment owing to the owing to the government initiatives promoting the solar energy. On the basis of end-user segment, the market is bifurcated into commercial, residential and industrial & others of which commercial segment is expected to dominate the market owing to the increasing demand of energy.
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The regional analysis of Renewable Energy market
- North America
- Asia Pacific
- Latin America
Asia-Pacific dominates the Renewable Energy market owing to government efforts to promote the renewable energy along with increasing demand of energy. Whereas, Europe is anticipated to emerge as the fastest growing market region during the forecast period 2018-2025 owing to stringent government environmental policies imposed on industrial sector along with government initiatives to promote renewable energy. Also, the growth of Asia-Pacific region is witnessed owing to the rapid industrialization and urbanization.
The leading market players mainly include-
- ABB LTD
- Alstom SA
- CPFL Energia S.A.
- ENEL GREEN POWER S.P.A.
- General Electric
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The detailed segments and sub-segment of the market are explained below:
- Hydro & Ocean Power
- Wind Energy
- Solar Energy
- Bio Energy
- Geothermal Energy
- Industrial and others
Furthermore, years considered for the study are as follows:
Historical year – 2015, 2016
Base year – 2017
Forecast period – 2018 to 2025
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