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Renewable Energy Market: Current Analysis and Forecast (2021-2027)

Region:Global

Author(s):

Product Code:UMEP21322

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Published on

July 2021

Total pages

168

Table of Content

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About the Report

About the Report

Renewable energy often referred to as clean energy, comes from natural sources or processes that are constantly replenished. Renewable energy use energy sources that are continually replenished by nature such as the sun, the wind, water, the Earth's heat, and plants. Renewable energy technologies turn these fuels into usable forms of energy, most often electricity, but also heat, chemicals, or mechanical power. There are 7 main sources of renewable energy are Solar, Wind Energy, Hydroelectric, Ocean Energy, Geothermal Energy, Biomass, and Hydrogen.

In 2020, the consumption of all other fuels declined while the only source which increased the demand for energy sources was renewables 2020. As the global economy recovers from the crisis, The renewable energy source witnessed an uptake, therefore, expand more quickly. As per International Energy Agency (IEA), in 2020, the annual renewable capacity additions increased witnessed the highest year-on-year increase since 1999 and increased by 45% or 280 GW. Furthermore, exceptionally high-capacity additions become the new normal in 2021 and 2022, with renewables accounting for 90% of new power capacity expansion globally.

Also, the net additions of renewable electricity capacity declined in 2020 when compared to 2019, revealed by IEA. The key factors attributed to the decline of the market were supply chain disruption, lockdown measures, and social?distancing guidelines, and emerging financing challenges. This nevertheless corresponds to a 6% increase in global installed renewable power capacity, which surpasses the combined size of power systems in both North America and Europe.

The impact of Covid-19 on renewable electricity technologies with long lead times, such as hydropower, offshore wind, CSP, and geothermal, remains limited. Hydropower capacity additions are forecast to increase both in 2020 and 2021, driven by the commissioning of two mega hydropower projects in China and supporting the rebound of renewables next year. The forecast for offshore wind remains unchanged as most projects are already financed and under construction.

Based on the Type, the market is fragmented into Hydroelectric Power, Wind Power, Bioenergy, Solar Energy, and Geothermal Energy. The Hydroelectric Power segment of Global Renewable Energy dominated the market with around XX % market share. The segment generated the revenue of USD XX Mn in 2020 and is expected to grow at a CAGR of XX% during the forthcoming years. However, the wind power segment would witness a significant rise in the CAGR in forthcoming years. Renewable Energy solutions are being sold for several end-use such as Residential, Commercial, Industrial, and Others. The industrial segment grabbed a considerable market share. The segment generated revenue worth USD XX million in 2020 and is expected to reach USD XX million by 2027. However, the Commercial segment is expected to witness an exhibit growth during the forecast period.

Furthermore, the industrial segment is bifurcated into Power, chemical and petrochemical, Oil and Gas, and Food and Beverage. The chemical and petrochemical segment grabbed XX% market share in 2020 and dominated the market. Moreover, the trend of dominance is expected to remain the same in the forecast period as well.

For a better understanding of the market adoption of the Renewable Energy Market, the market is analyzed based on its worldwide presence in the countries such as North America (the United States and Canada), Europe (Germany, France, Italy, Spain, United Kingdom, and Rest of Europe), Asia-Pacific (China, Japan, India, Australia and Rest of APAC), and Rest of World. North America constitutes a major market for the Renewable Energy industry and generated revenue of USD XX Million in 2020 owing to the emerging demand for clean energy owing to the rising death due to pollution from fossil fuels. vehicles in the region. Also, the presence of well-established players in the region adding pace to the growth of the market in the region.

Some of the major players operating in the market are General Electric, ABB Ltd., The TATA Power Company Limited, Energex, Enel Spa, Xcel Energy Inc., EDF, Geronimo Energy, Invenergy, and ACCIONA, among others. Several M&As along with partnerships have been undertaken by these players to develop Renewable Energy solutions.

Products


Companies

General Electric, ABB Ltd., The TATA Power Company Limited, Energex, Enel Spa, Xcel Energy Inc., EDF, Geronimo Energy, Invenergy, and ACCIONA

Table of Contents

Table of Contents

1 MARKET INTRODUCTION

1.1. Market Definitions

1.2. Objective of the Study

1.3. Limitation

1.4. Stake Holders

1.5. Currency Used in Report

1.6. Scope of the Global Renewable Energy Market Study

2 RESEARCH METHODOLOGY OR ASSUMPTION

2.1. Research Methodology for the Global Renewable Energy Market

2.1.1. Main Objective of the Global Renewable Energy Market

3 INDUSTRY PERFORMANCE

4 EXECUTIVE SUMMARY

5 COVID-19 IMPACT

6 GLOBAL RENEWABLE ENERGY MARKET REVENUE

7 MARKET INSIGHTS BY TYPE

7.1. Hydroelectric Power

7.2. Wind Power

7.3. Bioenergy

7.4. Solar Energy

7.5. Geothermal Energy

8 MARKET INSIGHTS BY END-USE

8.1. Residential

8.2. Commercial

8.3. Industrial

8.3.1. Power

8.3.2. Chemicals & Petrochemicals

8.3.3. Oil and Gas

8.3.4. Food & Beverage

8.4. Others

9 MARKET INSIGHTS BY REGION

9.1. North America Renewable Energy Market

9.1.1. The U.S

9.1.2. Canada

9.1.3. Rest of North America

9.2. Europe Renewable Energy Market

9.2.1. Germany

9.2.2. France

9.2.3. U.K.

9.2.4. Spain

9.2.5. Rest of Europe

9.3. Asia Pacific Renewable Energy Market

9.3.1. China

9.3.2. Japan

9.3.3. India

9.3.4. Australia

9.3.5. Rest of Asia Pacific

9.4. Rest of the World Renewable Energy Market

10 RENEWABLE ENERGY MARKET DYNAMICS

10.1. Market Drivers

10.2. Market Challenges

10.3. Impact Analysis

11 LEGAL & REGULATORY FRAMEWORK

12 DEMAND AND SUPPLY SIDE ANALYSIS

12.1. Demand Side Analysis

12.2. Supply Side Analysis

12.2.1. Top Product Launches

12.2.2. Top Business Partnerships

12.2.3. Top Merger & Acquisitions

13 VALUE CHAIN ANALYSIS

14 RENEWABLE ENERGY MARKET OPPORTUNITIES

15 RENEWABLE ENERGY MARKET TRENDS & INSIGHTS

16 COMPETITIVE SCENARIO

16.1. Porter's Five forces analysis

16.1.1. Bargaining power of Supplier

16.1.2. Bargaining power of Buyer

16.1.3. Industry Rivalry

16.1.4. Availability of Substitute

16.1.5. Threat of new Entrants

16.2. Competitive Landscape

16.2.1. Company Shares, By Revenue

17 COMPANY PROFILED

17.1. General Electric

17.1.1. Key Facts

17.1.2. Business Description

17.1.3. Key Product/Services Offerings

17.1.4. Growth Strategy

17.1.5. SWOT Analysis

17.1.6. Key Financials

17.1.6.1. Revenue Split

17.1.6.2. Financial Overview of General Electric

17.1.7. Recent Developments

17.1.7.1. Product Launch

17.1.7.2. Partnerships

17.1.7.3. Business Expansion and Investments

17.1.7.4. Merger and Acquisition

17.2. ABB Ltd

17.3. The TATA Power Company Limited

17.4. Innergex

17.5. Enel Spa

17.6. Xcel Energy Inc.

17.7. EDF

17.8. Geronimo Energy

17.9. Invenergy

17.10. ACCIONA

18 DISCLAIMER

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