About Renewable Energy-
Renewable energy comes from natural resources with a low or zero carbon footprint. Renewable energy can be used for electricity generation, space and water heating and cooling, and transportation. There are a wide variety of advantages to renewable energy, including a plentiful supply compared to fossil fuels and improved public health. Governments across the world are looking to develop renewables to exclusively power their nations. Continuous advancements in renewable energy technologies, particularly in solar and wind power, have led to increased efficiency and reduced costs. These technological improvements make renewable energy more competitive with traditional fossil fuels.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
The renewable energy market was characterized by intense competition as various companies sought to capitalize on the growing demand for clean and sustainable energy. The renewable energy market is dynamic, with new entrants, mergers, acquisitions, and changing market conditions. Analyst at AMA Research estimates that Global Manufacturers will contribute the maximum growth to Global Renewable Energy- 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.
National Grid (United Kingdom), NextEra Energy, Inc (United States), Brookfield Asset Management (Canada), Adani Group (India), Honeywell International Inc (United States), Daqo New Energy Corp (China), Algonquin Power & Utilities Corp (Canada), Orsted A/S (Denmark), Shell plc (United Kingdom), Siemens Gamesa Renewable Energy (Spain), Vestas (Denmark), Enel Spa (Italy), LONGi (China), Statkraft AS (Norway), goldwind.com (China), Canadian Solar (Canada), Cepsa (Spain), Smarter Grid Solutions (United States), Masdar (United Arab Emirates) and Panasonic Energy Co., Ltd. (Japan) are some of the key players that are part of study coverage.
Segmentation Overview
AMA Research has segmented the market of Global Renewable Energy- market by , Application (Electricity Generation, Water Heating and Cooling, Transportation and Others) and Region.
On the basis of geography, the market of Renewable Energy- 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. Wind Power will boost the Renewable Energy- market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Grid, the sub-segment i.e. On-Grid will boost the Renewable Energy- market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by End User, the sub-segment i.e. Commercial will boost the Renewable Energy- market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Increased adoption of solar power and Global shift towards electric vehicles (EVs)
Market Growth Drivers:
Growing awareness of environmental issues and climate change has increased public support for renewable energy. and Increasing Demand in Energy Generation Power
Challenges:
Negotiations, contracts, permits, and community relations, all of which can increase costs and delay or kill projects. and Wind turbines threaten local wildlife like birds
Restraints:
Lack of availability of widespread technology that can use biomass in lieu of fossil fuels.
Opportunities:
Innovation of Technological Advancement in Process to Produce Hydrogen from Renewable Energy Source and Growing government initiatives in developed and developing nations for the expansion of renewable energy
Market Leaders and their expansionary development strategies
In August 2021, Mitsubishi electric corporation an electrical and equipment manufacturer company had acquired the UK-based smarter grid solution. In this acquisition, utilities peruse decarbonization goals with the introduction of renewable and clean energy source. and In December 2023, Expo City Dubai Abu Dhabi Future Energy Company Masdar, the UAE's clean energy powerhouse, acquired of eight hybrid renewable energy projects, along with Taaleri Energia, a Finnish-based renewable energy developer and fund manager, marking a significant expansion to both companies' Polish renewable energy portfolios.
In January 2023, Leading international company committed to sustainable mobility and energy with strong technical expertise, CEPSA launched three new renewable energy projects in Castilla-La Mancha. these projects will produce an estimated annual energy output of 840 GWh, the production of this renewable energy will avoid the annual emission of 336,000 tons of CO2. and In October 2021, Panasonic Corporation has launched a pure hydrogen fuel cell generator, which generates power through chemical reaction with high-purity hydrogen and oxygen in the air.
Key Target Audience
Manufacturer, Supplier, End users’ industry, Research Organization and Government Regulatory
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.