About Renewable Energy as a service -
Renewable strength is described as strength that is amassed from herbal resources. Recently there has been developing activity in renewable power and it has turn out to be one of the important sources of strength generation. Renewable electricity is derived from herbal sources such as wind and sunlight. Solar, geothermal, wind, bioenergy, hydropower, and ocean strength are some of the foremost sources of renewable energy. Currently, renewable power is utilized in heating, electricity, cooling, and transport sectors. Renewable strength together affords round 7% of the world’s electricity demand. Renewable electricity is distinctly extra costly than fossil fuel. Several elements are accountable to force the utilization of renewable energies, the most quintessential being the attribution of international warming due to carbon dioxide (CO2) emission from the combustion of fossil fuels.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 9.8% |
The market is seeing moderate market players, by seeing huge growth in this market the key leading vendors are highly focusing towards the production technologies, efficiency enhancement and product life. There is various growth opportunity in this market which is captured by leading players via tracking the ongoing process enhancement and huge invest in market growth strategies. Analyst at AMA Research estimates that United States Manufacturers will contribute the maximum growth to Global Renewable Energy as a service - market throughout the forecasted period. Established and emerging Manufacturers should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Iberdrola SA (Spain), Orsted (Denmark), JinkoSolar (China), Vestas Wind Systems (Denmark), Siemens Gamesa (Spain), Brookfield Renewable (Canada), First Solar (United States), Canadian Solar (Canada), SunPower (United States) and Renewable Energy Group (United States) are some of the key players that are part of study coverage.
Segmentation Overview
AMA Research has segmented the market of Global Renewable Energy as a service - market by and Region.
On the basis of geography, the market of Renewable Energy as a service - has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Type, the sub-segment i.e. Solar will boost the Renewable Energy as a service - market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by End Use, the sub-segment i.e. Residential will boost the Renewable Energy as a service - market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Renewables are now mainstream in the Power Sector
Market Growth Drivers:
Rising Industrialisation and Commercialisation and Increasing Environmental Awareness
Challenges:
Availability of Power, Resource Location and Lack of Proper Battery Storage System
Restraints:
High Initial Cost of Installation
Opportunities:
Production of Solar Panels, Biomass Farming and Solar Plant Manager
Market Leaders and their expansionary development strategies
In June 2023, Alfa Laval has entered into a strategic joint venture agreement with Aalborg CSP, a concentrated solar power technology company, and will join forces on the development of Long Duration Energy Storage (LDES) solutions.
In December 2023, Ricoh announced launch of Group-first renewable energy self-consignment to its Tohoku Office in Japan with Ricoh Leasing Company, Ltd. from January 2024. This initiative is a part of Ricoh's efforts to achieve its 2030 target of 50% renewable energy in the overall electricity used for the business.
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.