Renewable energy market size to increase by 1,776.08 GW from 2022 to 2027: Market research insights highlight the emergence of zero-energy buildings as a key trend – Technavio

NEW YORK, March 9, 2023 /PRNewswire/ — According to Technavio, the renewable energy market will witness a YOY growth of 8.22% between 2022 and 2023. The market is segmented by end-user (residential, industrial, and commercial), type (hydropower, wind, solar, and others), and geography (APAC, Europe, North America, South America, and Middle East and Africa). The renewable energy market size is estimated to increase by 1,776.08 GW at a CAGR of 8.91% from 2022 to 2027. The emergence of zero-energy buildings is a key trend in the market. The construction industry is adopting various measures to improve energy efficiency, including improved designs and materials, minimization of issues associated with GHG emissions, and reduction of fossil fuel-based energy consumption. In zero-energy buildings, the energy produced is equal to the amount of energy consumed annually. Thus, the increase in the adoption of ZEBs will drive the growth of the market during the forecast period. For more insights on the historic data (2017 to 2021) and forecast market size (2023 to 2027) – Request a sample report

Renewable energy market – Vendor insights

The global renewable energy market is fragmented. The market players compete on the basis of price, customized services, innovative products, and ease of integration with current systems. Major companies acquire smaller players to increase their market presence. Vendors may reduce their product prices due to intense competition, which could negatively affect their profit margins. Therefore, to succeed in this competitive environment, vendors should differentiate their product offerings through a clear and unique value proposition during the forecast period. 

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

• Enel Spa
• ENERCON GmbH
• General Electric Co.
• Innergex Renewable Energy Inc.
• Invenergy
• Schneider Electric SE
• Siemens AG
• Sunrun Inc.
• Suzlon Energy Ltd.
• Tata Power Co. Ltd.
• Vestas Wind Systems AS
• Xcel Energy Inc.
• Duke Energy Corp.
• Goldwind Australia
• Nextera Energy Inc.

Renewable energy market – Geographical analysis 

APAC will provide maximum growth opportunities in the renewable energy market during the forecast period. According to our research, the region will account for 73% of the global market growth during the forecast period. China, Japan, India, Australia, and South Korea are the major contributors to the renewable energy market in the region. The growth of the market in APAC is attributed to factors such as financial incentives programs such as feed-in-tariffs (FiTs) in China, Japan, Thailand, and Vietnam.

Know more about this market’s geographical distribution along with a detailed analysis

of the top regions: https://www.technavio.com/report/renewable-energy-market-industry-

analysis

Renewable energy market – Key segment analysis

The renewable energy market share growth by the residential segment will be significant during the forecast period. Residential buildings are high energy consumers. Hence, they have the highest potential to reach sustainable development goals. The use of clean energy instead of limited resources is the most effective way of saving energy in the residential sector. This will help in fulfilling the rising energy demand from the residential sector.

Download a sample to obtain additional highlights and key points on various market

segments and their impact in the coming years. 

Renewable energy market – Key market drivers & challenges

The renewable energy market is primarily driven by supportive government policies. Many governments support the use of renewable energy systems by providing incentives, subsidies, and tax benefits to producers and consumers. For instance, the investment tax credit (ITC) is an important federal policy developed by the US government to support the adoption of solar PV energy. Such policies are expected to fuel the market growth during the forecast period.

The competition from fossil fuels poses a major threat to the growth of the renewable energy market. The share of renewable energy has increased steadily over the years. Many countries prefer fossil fuels over renewable energy owing to the availability of abundant fossil fuels. In addition, the cost of establishing a renewable energy facility is high, and the power output is low due to the intermittent nature of renewables. These factors will hinder the market growth during the forecast period.

Download a sample for highlights on market drivers & challenges affecting the renewable

energy market

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the renewable energy market between 2023 and 2027
• Precise estimation of the renewable energy market size and its contribution to the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the industry across APAC, Europe, North America, South America, and Middle East and Africa
• Thorough analysis of the market’s competitive landscape and detailed information about vendors
• Comprehensive analysis of factors that will challenge the growth of renewable energy market vendors 

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• Add credibility to strategy
• Analyzes competitor’s offerings
• Get a holistic view of the market

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The renewable energy inverters market size is expected to increase by USD 8.43 billion from 2021 to 2026. This renewable energy inverters market research report extensively covers market segmentation by application (solar PV, EV, and wind) and geography (APAC, Europe, North America, South America, and Middle East and Africa).

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Table of contents:

1 Executive Summary

• 1.1 Market overview 
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Global Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market by Geography
• Exhibit 05: Executive Summary – Chart on Market Segmentation by End-user
• Exhibit 06: Executive Summary – Chart on Market Segmentation by Type
• Exhibit 07: Executive Summary – Chart on Incremental Growth
• Exhibit 08: Executive Summary – Data Table on Incremental Growth
• Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem 
• Exhibit 10: Parent market
• Exhibit 11: Market Characteristics

3 Market Sizing

• 3.1 Market definition 
• Exhibit 12: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 13: Market segments

• 3.3 Market size 2022

• 3.4 Market outlook: Forecast for 2022-2027 
• Exhibit 14: Chart on Global – Market size and forecast 2022-2027 (GW)
• Exhibit 15: Data Table on Global – Market size and forecast 2022-2027 (GW)
• Exhibit 16: Chart on Global Market- Year-over-year growth 2022-2027 (%)
• Exhibit 17: Data Table on Global Market- Year-over-year growth 2022-2027 (%)

4 Historic Market Size

• 4.1 Global renewable energy market 2017 – 2021
• Exhibit 18: Historic Market Size – Data Table on Global renewable energy market 2017 – 2021 (GW)

• 4.2 End-user Segment Analysis 2017 – 2021 
• Exhibit 19: Historic Market Size – End-user Segment 2017 – 2021 (GW)

• 4.3 Type Segment Analysis 2017 – 2021 
• Exhibit 20: Historic Market Size – Type Segment 2017 – 2021 (GW)

• 4.4 Geography Segment Analysis 2017 – 2021 
• Exhibit 21: Historic Market Size – Geography Segment 2017 – 2021 (GW)

• 4.5 Country Segment Analysis 2017 – 2021 
• Exhibit 22: Historic Market Size – Country Segment 2017 – 2021 (GW)

5 Five Forces Analysis

• 5.1 Five forces summary 
• Exhibit 23: Five forces analysis – Comparison between 2022 and 2027

• 5.2 Bargaining power of buyers 
• Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

• 5.3 Bargaining power of suppliers 
• Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

• 5.4 Threat of new entrants 
• Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027

• 5.5 Threat of substitutes 
• Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027

• 5.6 Threat of rivalry 
• Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027

• 5.7 Market condition 
• Exhibit 29: Chart on Market condition – Five forces 2022 and 2027

6 Market Segmentation by End-user

• 6.1 Market segments 
• Exhibit 30: Chart on End-user – Market share 2022-2027 (%)
• Exhibit 31: Data Table on End-user – Market share 2022-2027 (%)

• 6.2 Comparison by End-user 
• Exhibit 32: Chart on Comparison by End-user
• Exhibit 33: Data Table on Comparison by End-user

• 6.3 Residential – Market size and forecast 2022-2027
• Exhibit 34: Chart on Residential – Market size and forecast 2022-2027 (GW)
• Exhibit 35: Data Table on Residential – Market size and forecast 2022-2027 (GW)
• Exhibit 36: Chart on Residential – Year-over-year growth 2022-2027 (%)
• Exhibit 37: Data Table on Residential – Year-over-year growth 2022-2027 (%)

• 6.4 Industrial – Market size and forecast 2022-2027
• Exhibit 38: Chart on Industrial – Market size and forecast 2022-2027 (GW)
• Exhibit 39: Data Table on Industrial – Market size and forecast 2022-2027 (GW)
• Exhibit 40: Chart on Industrial – Year-over-year growth 2022-2027 (%)
• Exhibit 41: Data Table on Industrial – Year-over-year growth 2022-2027 (%)

• 6.5 Commercial – Market size and forecast 2022-2027
• Exhibit 42: Chart on Commercial – Market size and forecast 2022-2027 (GW)
• Exhibit 43: Data Table on Commercial – Market size and forecast 2022-2027 (GW)
• Exhibit 44: Chart on Commercial – Year-over-year growth 2022-2027 (%)
• Exhibit 45: Data Table on Commercial – Year-over-year growth 2022-2027 (%)

• 6.6 Market opportunity by End-user 
• Exhibit 46: Market opportunity by End-user (GW)
• Exhibit 47: Data Table on Market opportunity by End-user (GW)

7 Market Segmentation by Type

• 7.1 Market segments 
• Exhibit 48: Chart on Type – Market share 2022-2027 (%)
• Exhibit 49: Data Table on Type – Market share 2022-2027 (%)

• 7.2 Comparison by Type 
• Exhibit 50: Chart on Comparison by Type
• Exhibit 51: Data Table on Comparison by Type

• 7.3 Hydropower – Market size and forecast 2022-2027
• Exhibit 52: Chart on Hydropower – Market size and forecast 2022-2027 (GW)
• Exhibit 53: Data Table on Hydropower – Market size and forecast 2022-2027 (GW)
• Exhibit 54: Chart on Hydropower – Year-over-year growth 2022-2027 (%)
• Exhibit 55: Data Table on Hydropower – Year-over-year growth 2022-2027 (%)

• 7.4 Wind – Market size and forecast 2022-2027
• Exhibit 56: Chart on Wind – Market size and forecast 2022-2027 (GW)
• Exhibit 57: Data Table on Wind – Market size and forecast 2022-2027 (GW)
• Exhibit 58: Chart on Wind – Year-over-year growth 2022-2027 (%)
• Exhibit 59: Data Table on Wind – Year-over-year growth 2022-2027 (%)

• 7.5 Solar – Market size and forecast 2022-2027
• Exhibit 60: Chart on Solar – Market size and forecast 2022-2027 (GW)
• Exhibit 61: Data Table on Solar – Market size and forecast 2022-2027 (GW)
• Exhibit 62: Chart on Solar – Year-over-year growth 2022-2027 (%)
• Exhibit 63: Data Table on Solar – Year-over-year growth 2022-2027 (%)

• 7.6 Others – Market size and forecast 2022-2027
• Exhibit 64: Chart on Others – Market size and forecast 2022-2027 (GW)
• Exhibit 65: Data Table on Others – Market size and forecast 2022-2027 (GW)
• Exhibit 66: Chart on Others – Year-over-year growth 2022-2027 (%)
• Exhibit 67: Data Table on Others – Year-over-year growth 2022-2027 (%)

• 7.7 Market opportunity by Type 
• Exhibit 68: Market opportunity by Type (GW)
• Exhibit 69: Data Table on Market opportunity by Type (GW)

8 Customer Landscape

• 8.1 Customer landscape overview 
• Exhibit 70: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

• 9.1 Geographic segmentation 
• Exhibit 71: Chart on Market share by geography 2022-2027 (%)
• Exhibit 72: Data Table on Market share by geography 2022-2027 (%)

• 9.2 Geographic comparison 
• Exhibit 73: Chart on Geographic comparison
• Exhibit 74: Data Table on Geographic comparison

• 9.3 APAC – Market size and forecast 2022-2027
• Exhibit 75: Chart on APAC – Market size and forecast 2022-2027 (GW)
• Exhibit 76: Data Table on APAC – Market size and forecast 2022-2027 (GW)
• Exhibit 77: Chart on APAC – Year-over-year growth 2022-2027 (%)
• Exhibit 78: Data Table on APAC – Year-over-year growth 2022-2027 (%)

• 9.4 Europe – Market size and forecast 2022-2027
• Exhibit 79: Chart on Europe – Market size and forecast 2022-2027 (GW)
• Exhibit 80: Data Table on Europe – Market size and forecast 2022-2027 (GW)
• Exhibit 81: Chart on Europe – Year-over-year growth 2022-2027 (%)
• Exhibit 82: Data Table on Europe – Year-over-year growth 2022-2027 (%)

• 9.5 North America – Market size and forecast 2022-2027
• Exhibit 83: Chart on North America – Market size and forecast 2022-2027 (GW)
• Exhibit 84: Data Table on North America – Market size and forecast 2022-2027 (GW)
• Exhibit 85: Chart on North America – Year-over-year growth 2022-2027 (%)
• Exhibit 86: Data Table on North America – Year-over-year growth 2022-2027 (%)

• 9.6 South America – Market size and forecast 2022-2027
• Exhibit 87: Chart on South America – Market size and forecast 2022-2027 (GW)
• Exhibit 88: Data Table on South America – Market size and forecast 2022-2027 (GW)
• Exhibit 89: Chart on South America – Year-over-year growth 2022-2027 (%)
• Exhibit 90: Data Table on South America – Year-over-year growth 2022-2027 (%)

• 9.7 Middle East and Africa – Market size and forecast 2022-2027 
• Exhibit 91: Chart on Middle East and Africa – Market size and forecast 2022-2027 (GW)
• Exhibit 92: Data Table on Middle East and Africa – Market size and forecast 2022-2027 (GW)
• Exhibit 93: Chart on Middle East and Africa – Year-over-year growth 2022-2027 (%)
• Exhibit 94: Data Table on Middle East and Africa – Year-over-year growth 2022-2027 (%)

• 9.8 China – Market size and forecast 2022-2027
• Exhibit 95: Chart on China – Market size and forecast 2022-2027 (GW)
• Exhibit 96: Data Table on China – Market size and forecast 2022-2027 (GW)
• Exhibit 97: Chart on China – Year-over-year growth 2022-2027 (%)
• Exhibit 98: Data Table on China – Year-over-year growth 2022-2027 (%)

• 9.9 US – Market size and forecast 2022-2027
• Exhibit 99: Chart on US – Market size and forecast 2022-2027 (GW)
• Exhibit 100: Data Table on US – Market size and forecast 2022-2027 (GW)
• Exhibit 101: Chart on US – Year-over-year growth 2022-2027 (%)
• Exhibit 102: Data Table on US – Year-over-year growth 2022-2027 (%)

• 9.10 India – Market size and forecast 2022-2027
• Exhibit 103: Chart on India – Market size and forecast 2022-2027 (GW)
• Exhibit 104: Data Table on India – Market size and forecast 2022-2027 (GW)
• Exhibit 105: Chart on India – Year-over-year growth 2022-2027 (%)
• Exhibit 106: Data Table on India – Year-over-year growth 2022-2027 (%)

• 9.11 Germany – Market size and forecast 2022-2027
• Exhibit 107: Chart on Germany – Market size and forecast 2022-2027 (GW)
• Exhibit 108: Data Table on Germany – Market size and forecast 2022-2027 (GW)
• Exhibit 109: Chart on Germany – Year-over-year growth 2022-2027 (%)
• Exhibit 110: Data Table on Germany – Year-over-year growth 2022-2027 (%)

• 9.12 Japan – Market size and forecast 2022-2027
• Exhibit 111: Chart on Japan – Market size and forecast 2022-2027 (GW)
• Exhibit 112: Data Table on Japan – Market size and forecast 2022-2027 (GW)
• Exhibit 113: Chart on Japan – Year-over-year growth 2022-2027 (%)
• Exhibit 114: Data Table on Japan – Year-over-year growth 2022-2027 (%)

• 9.13 Market opportunity by geography 
• Exhibit 115: Market opportunity by geography (GW)
• Exhibit 116: Market opportunity by geography (GW) – Volume

10 Drivers, Challenges, and Trends

• 10.1 Market drivers

• 10.2 Market challenges

• 10.3 Impact of drivers and challenges 
• Exhibit 117: Impact of drivers and challenges in 2022 and 2027

• 10.4 Market trends

11 Vendor Landscape

• 11.1 Overview

• 11.2 Vendor landscape 
• Exhibit 118: Overview on Criticality of inputs and Factors of differentiation

• 11.3 Landscape disruption 
• Exhibit 119: Overview on factors of disruption

• 11.4 Industry risks 
• Exhibit 120: Impact of key risks on business

12 Vendor Analysis

• 12.1 Vendors covered 
• Exhibit 121: Vendors covered

• 12.2 Market positioning of vendors 
• Exhibit 122: Matrix on vendor position and classification

• 12.3 ABB Ltd. 
• Exhibit 123: ABB Ltd. – Overview
• Exhibit 124: ABB Ltd. – Business segments
• Exhibit 125: ABB Ltd. – Key offerings
• Exhibit 126: ABB Ltd. – Segment focus

• 12.4 Acciona SA 
• Exhibit 127: Acciona SA – Overview
• Exhibit 128: Acciona SA – Business segments
• Exhibit 129: Acciona SA – Key news
• Exhibit 130: Acciona SA – Key offerings
• Exhibit 131: Acciona SA – Segment focus

• 12.5 EnBW Energie Baden Wurttemberg AG 
• Exhibit 132: EnBW Energie Baden Wurttemberg AG – Overview
• Exhibit 133: EnBW Energie Baden Wurttemberg AG – Business segments
• Exhibit 134: EnBW Energie Baden Wurttemberg AG – Key offerings
• Exhibit 135: EnBW Energie Baden Wurttemberg AG – Segment focus

• 12.6 Enel Spa 
• Exhibit 136: Enel Spa – Overview
• Exhibit 137: Enel Spa – Business segments
• Exhibit 138: Enel Spa – Key offerings
• Exhibit 139: Enel Spa – Segment focus

• 12.7 ENERCON GmbH 
• Exhibit 140: ENERCON GmbH – Overview
• Exhibit 141: ENERCON GmbH – Product / Service
• Exhibit 142: ENERCON GmbH – Key offerings

• 12.8 General Electric Co. 
• Exhibit 143: General Electric Co. – Overview
• Exhibit 144: General Electric Co. – Business segments
• Exhibit 145: General Electric Co. – Key news
• Exhibit 146: General Electric Co. – Key offerings
• Exhibit 147: General Electric Co. – Segment focus

• 12.9 Innergex Renewable Energy Inc. 
• Exhibit 148: Innergex Renewable Energy Inc. – Overview
• Exhibit 149: Innergex Renewable Energy Inc. – Business segments
• Exhibit 150: Innergex Renewable Energy Inc. – Key news
• Exhibit 151: Innergex Renewable Energy Inc. – Key offerings
• Exhibit 152: Innergex Renewable Energy Inc. – Segment focus

• 12.10 Invenergy 
• Exhibit 153: Invenergy – Overview
• Exhibit 154: Invenergy – Product / Service
• Exhibit 155: Invenergy – Key offerings

• 12.11 Schneider Electric SE 
• Exhibit 156: Schneider Electric SE – Overview
• Exhibit 157: Schneider Electric SE – Business segments
• Exhibit 158: Schneider Electric SE – Key news
• Exhibit 159: Schneider Electric SE – Key offerings
• Exhibit 160: Schneider Electric SE – Segment focus

• 12.12 Siemens AG 
• Exhibit 161: Siemens AG – Overview
• Exhibit 162: Siemens AG – Business segments
• Exhibit 163: Siemens AG – Key news
• Exhibit 164: Siemens AG – Key offerings
• Exhibit 165: Siemens AG – Segment focus

• 12.13 Sunrun Inc. 
• Exhibit 166: Sunrun Inc. – Overview
• Exhibit 167: Sunrun Inc. – Business segments
• Exhibit 168: Sunrun Inc. – Key offerings
• Exhibit 169: Sunrun Inc. – Segment focus

• 12.14 Suzlon Energy Ltd. 
• Exhibit 170: Suzlon Energy Ltd. – Overview
• Exhibit 171: Suzlon Energy Ltd. – Business segments
• Exhibit 172: Suzlon Energy Ltd. – Key offerings
• Exhibit 173: Suzlon Energy Ltd. – Segment focus

• 12.15 Tata Power Co. Ltd. 
• Exhibit 174: Tata Power Co. Ltd. – Overview
• Exhibit 175: Tata Power Co. Ltd. – Business segments
• Exhibit 176: Tata Power Co. Ltd. – Key news
• Exhibit 177: Tata Power Co. Ltd. – Key offerings
• Exhibit 178: Tata Power Co. Ltd. – Segment focus

• 12.16 Vestas Wind Systems AS 
• Exhibit 179: Vestas Wind Systems AS – Overview
• Exhibit 180: Vestas Wind Systems AS – Business segments
• Exhibit 181: Vestas Wind Systems AS – Key news
• Exhibit 182: Vestas Wind Systems AS – Key offerings
• Exhibit 183: Vestas Wind Systems AS – Segment focus

• 12.17 Xcel Energy Inc. 
• Exhibit 184: Xcel Energy Inc. – Overview
• Exhibit 185: Xcel Energy Inc. – Business segments
• Exhibit 186: Xcel Energy Inc. – Key offerings
• Exhibit 187: Xcel Energy Inc. – Segment focus

13 Appendix

• 13.1 Scope of the report

• 13.2 Inclusions and exclusions checklist 
• Exhibit 188: Inclusions checklist
• Exhibit 189: Exclusions checklist

• 13.3 Currency conversion rates for US$ 
• Exhibit 190: Currency conversion rates for US$

• 13.4 Research methodology 
• Exhibit 191: Research methodology
• Exhibit 192: Validation techniques employed for market sizing
• Exhibit 193: Information sources

• 13.5 List of abbreviations 
• Exhibit 194: List of abbreviations

About Us: 

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios. 

Contact 

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Website: www.technavio.com/ 

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