Renewable Energy Market to witness 1,581.08 GW growth | Huge opportunities in Hydropower Segment | Technavio

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NEW YORK, Feb. 28, 2022 /PRNewswire/ — The global renewable energy market is expected to grow by 1581.08 GW between 2021 and 2026, progressing at a CAGR of 8.72% during the forecast period. The market is characterized by the presence of many regional and international players offering differentiated products. The vendors are adopting various organic and inorganic growth strategies to gain an edge over their competitors.

Attractive Opportunities in Renewable Energy Market by Type and Geography - Forecast and Analysis 2022-2026

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Renewable Energy Market: Segmentation Analysis

The 120 pages report analyzes the renewable energy market by type (hydropower, wind, solar, and others) and geography (APAC, Europe, North America, South America, and MEA).

The hydropower segment accounted for the largest share in the market in 2021. Hydropower is currently the largest source of renewable energy source globally. Between 2021 and 2030, the power generation in the segment is expected to increase by 17% or by 230 GW, thereby creating significant growth opportunities. The market growth in the segment is expected to be maximum during the forecast period.

In terms of geography, APAC will generate several growth opportunities. The region currently holds 69% of the global market share. The availability of a number of financial incentive programs is driving the growth of the regional market. China, India, and Japan are the key markets for renewable energy in APAC. The market will witness faster growth in APAC than in other regions.

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Renewable Energy Market: Growth drivers

The renewable energy market is driven by supportive government policies. Governments across the world are offering incentives, subsidies, and tax benefits to encourage the adoption of renewable energy sources. For instance, the US government has developed the investment tax credit (ITC) federal policy to support the adoption of solar PV plants in the country. Similarly, other countries are formulating various policies to promote the development and the use of renewable energy. These factors are driving the growth of the global renewable energy market.

In addition, environmental concerns regarding the use of fossil fuels are anticipated to further boost the growth of the renewable energy market.

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Renewable Energy Market: Key vendor offerings

Acciona SA: The company offers renewable energy solutions that help in lowering electricity costs and reducing fossil fuel consumption, thus redesigning the energy framework so as to allow humanity to tackle the climate crisis, under the brand name Acciona.

EnBW Energie Baden Wurttemberg AG: The company offers renewable energy solutions with the aim to increase the current capacity of around 4.4 GW, which accounts for about 32 percent of total installed output focusing on offshore wind power, onshore wind power, under the brand name ENBW.

Enel Spa: The company offers renewable energy solutions by producing renewable resources across 5 continents using power plants that aim for a cleaner process of production, under the brand name Enel.

General Electric Co.: The company offers renewable energy solutions to a reliable, affordable, and dispatchable integration of energies, driving the transition to a clean energy future which can be enabled through the intelligent plant and system design, software and controls, and O and M synergies, under the brand name General Electric.

Innergex Renewable Energy Inc.: The company offers renewable energy solutions using hydro plants, wind farms, and solar panels, under the brand name Innergex.

View our Renewable Energy Market Snapshot to uncover other dominant players.

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Renewable Energy Market Scope

Report Coverage

Details

Page number

120

Base year

2021

Forecast period

2022-2026

Growth momentum & CAGR

Accelerate at a CAGR of 8.72%

Market growth 2022-2026

1581.08 GW

Market structure

Fragmented

YoY growth (%)

7.64

Regional analysis

APAC, Europe, North America, South America, and MEA

Performing market contribution

APAC at 69%

Key consumer countries

China, US, India, Germany, and Japan

Competitive landscape

Leading companies, competitive strategies, consumer engagement scope

Companies profiled

Acciona SA, EnBW Energie Baden Wurttemberg AG, Enel Spa, General Electric Co., Innergex Renewable Energy Inc., Invenergy, National Grid Plc, RWE AG, Siemens Gamesa Renewable Energy SA, and Vestas Wind System AS

Market Dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, market condition analysis for the forecast period.

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Table of contents:

1. Executive Summary                           

2. Market Landscape                             

                2.1 Market ecosystem             

                                Exhibit 01: Parent market

                2.2: Market Characteristics    

                2.2 Value chain analysis           

                                Exhibit 02: Value chain analysis : Utilities

                                2.2.1 Electricity generation

                                2.2.2 Electricity transmission

                                2.2.3 Electricity distribution

                                2.2.4 End-customers

                                2.2.5 Industry innovations

3. Market Sizing                       

                3.1 Market definition

                                Exhibit 03: Offerings of vendors included in the market definition

                3.2 Market segment analysis 

                                Exhibit 04: Market segments

                3.3 Market size 2020 

                3.4 Market outlook: Forecast for 2020 – 2025 

                                3.4.1 Estimating growth rates for emerging and high-growth markets

                                3.4.2 Estimating growth rates for mature markets

                                Exhibit 05: Global – Market size and forecast 2021 – 2026 (GW)

                                Exhibit 06: Global market: Year-over-year growth 2021 – 2026 (%)

4. Five Forces Analysis                          

                4.1 Five Forces Summary        

                                Exhibit 07: Five forces analysis 2020 & 2025

                4.2 Bargaining power of buyers           

                4.3 Bargaining power of suppliers       

                4.4 Threat of new entrants    

                4.5 Threat of substitutes         

                4.6 Threat of rivalry   

                4.7 Market condition

                                Exhibit 08: Market condition – Five forces 2021

5. Market Segmentation by Type                     

                5.1 Market segments

                                The segments covered in this chapter are:

  • Hydropower
  • Wind
  • Solar
  • Others

                            Exhibit 09: Type – Market share 2021-2026 (%)

                5.2 Comparison by Type          

                                Exhibit 10: Comparison by Type

                5.3 Hydropower – Market size and forecast 2021-2026                

                                Exhibit 11: Hydropower – Market size and forecast 2021-2026 (GW)

                                Exhibit 12: Hydropower – Year-over-year growth 2021-2026 (%)

                5.4 Wind – Market size and forecast 2021-2026              

                                Exhibit 13: Wind – Market size and forecast 2021-2026 (GW)

                                Exhibit 14: Wind – Year-over-year growth 2021-2026 (%)

                5.5 Solar – Market size and forecast 2021-2026               

                                Exhibit 15: Solar – Market size and forecast 2021-2026 (GW)

                                Exhibit 16: Solar – Year-over-year growth 2021-2026 (%)

                5.6 Others – Market size and forecast 2021-2026           

                                Exhibit 17: Others – Market size and forecast 2021-2026 (GW)

                                Exhibit 18: Others – Year-over-year growth 2021-2026 (%)

                5.7 Market opportunity by Type          

                                Exhibit 19: Market opportunity by Type

6. Customer landscape                         

                                Exhibit 20: Customer landscape

7. Geographic Landscape                     

                7.1 Geographic segmentation

                                Exhibit 21: Market share by geography 2021-2026 (%)

                7.2 Geographic comparison   

                                Exhibit 22: Geographic comparison

                7.3 APAC – Market size and forecast 2021-2026              

                                Exhibit 23: APAC – Market size and forecast 2021-2026 (GW)

                                Exhibit 24: APAC – Year-over-year growth 2021-2026 (%)

                7.4 Europe – Market size and forecast 2021-2026          

                                Exhibit 25: Europe – Market size and forecast 2021-2026 (GW)

                                Exhibit 26: Europe – Year-over-year growth 2021-2026 (%)

                7.5 North America – Market size and forecast 2021-2026           

                                 Exhibit 27: North America – Market size and forecast 2021-2026 (GW)

                                 Exhibit 28: North America – Year-over-year growth 2021-2026 (%)

                7.6 South America – Market size and forecast 2021-2026           

                                 Exhibit 29: South America – Market size and forecast 2021-2026 (GW)

                                 Exhibit 30: South America – Year-over-year growth 2021-2026 (%)

                7.7 MEA – Market size and forecast 2021-2026               

                                 Exhibit 31: MEA – Market size and forecast 2021-2026 (GW)

                                 Exhibit 32: MEA – Year-over-year growth 2021-2026 (%)

                7.8 Key leading countries        

                                 Exhibit 33: Key leading countries

                7.9 Market opportunity by geography

                                 Exhibit 34: Market opportunity by geography (GW)

8. Drivers, Challenges, and Trends                   

                8.1 Market drivers     

                                8.1.1 Supportive government policies

                                8.1.2 Rapid urbanization

                                8.1.3 Environmental concerns regarding fossil fuels

                8.2 Market challenges              

                                8.2.1 Competition from fossil fuels

                                8.2.2 High initial investments

                                8.2.3 Project delays and cancellation of orders due to COVID-19 pandemic

                                 Exhibit 35: Impact of drivers and challenges

                8.3 Market trends      

                                8.3.1 Emergence of zero-energy buildings

                                8.3.2 Lack of progression in the application of the nuclear power

                                8.3.3 Increase in output efficiency, less pollution, and low maintenance costs

9. Vendor Landscape                             

                10.1  Competitive scenario    

                10.2  Vendor landscape           

                                Exhibit 36: Vendor Landscape

                10.3  Landscape disruption    

                                Exhibit 37: Landscape disruption

                10.4  Industry risks    

                                Exhibit 38: Industry risks

10.  Vendor Analysis                              

                10.1  Vendors covered            

                                Exhibit 39: Vendors covered

                10.2 Market positioning of vendors  

                                Exhibit 40: Market positioning of vendors

                10.3 Acciona SA          

                                Exhibit 41: Acciona SA – Overview

                                Exhibit 42: Acciona SA – Business segments

                                Exhibit 43: Acciona SA – Key offerings

                                Exhibit 44: Acciona SA – Segment focus

                10.4 EnBW Energie Baden Wurttemberg AG  

                                 Exhibit 45: EnBW Energie Baden Wurttemberg AG – Overview

                                 Exhibit 46: EnBW Energie Baden Wurttemberg AG – Business segments

                                 Exhibit 47: EnBW Energie Baden Wurttemberg AG – Key news

                                 Exhibit 48: EnBW Energie Baden Wurttemberg AG – Key offerings

                                 Exhibit 49: EnBW Energie Baden Wurttemberg AG – Segment focus

                10.5 Enel Spa

                                Exhibit 50: Enel Spa – Overview

                                Exhibit 51: Enel Spa – Business segments

                                Exhibit 52: Enel Spa – Key news

                                Exhibit 53: Enel Spa – Key offerings

                                Exhibit 54: Enel Spa – Segment focus

                10.6 General Electric Co.         

                                Exhibit 55: General Electric Co. – Overview

                                Exhibit 56: General Electric Co. – Business segments

                                Exhibit 57: General Electric Co. – Key news

                                Exhibit 58: General Electric Co. – Key offerings

                                Exhibit 59: General Electric Co. – Segment focus

                10.7 Innergex Renewable Energy Inc.

                                Exhibit 60: Innergex Renewable Energy Inc. – Overview

                                Exhibit 61: Innergex Renewable Energy Inc. – Business segments

                                Exhibit 62: Innergex Renewable Energy Inc. – Key news

                                Exhibit 63: Innergex Renewable Energy Inc. – Key offerings

                                Exhibit 64: Innergex Renewable Energy Inc. – Segment focus

                10.8 Invenergy            

                                Exhibit 65: Invenergy – Overview

                                Exhibit 66: Invenergy – Product and service

                                Exhibit 67: Invenergy – Key offerings

                10.9 National Grid Plc               

                                Exhibit 68: National Grid Plc – Overview

                                Exhibit 69: National Grid Plc – Business segments

                                Exhibit 70: National Grid Plc – Key news

                                Exhibit 71: National Grid Plc – Key offerings

                                Exhibit 72: National Grid Plc – Segment focus

                10.10 RWE AG             

                                Exhibit 73: RWE AG – Overview

                                Exhibit 74: RWE AG – Business segments

                                Exhibit 75: RWE AG – Key news

                                Exhibit 76: RWE AG – Key offerings

                                Exhibit 77: RWE AG – Segment focus

                10.11 Siemens Gamesa Renewable Energy SA

                                Exhibit 78: Siemens Gamesa Renewable Energy SA – Overview

                                Exhibit 79: Siemens Gamesa Renewable Energy SA – Business segments

                                Exhibit 80: Siemens Gamesa Renewable Energy SA – Key news

                                Exhibit 81: Siemens Gamesa Renewable Energy SA – Key offerings

                                Exhibit 82: Siemens Gamesa Renewable Energy SA – Segment focus

                10.12 Vestas Wind System AS

                                Exhibit 83: Vestas Wind System AS – Overview

                                Exhibit 84: Vestas Wind System AS – Business segments

                                Exhibit 85: Vestas Wind System AS – Key news

                                Exhibit 86: Vestas Wind System AS – Key offerings

                                Exhibit 87: Vestas Wind System AS – Segment focus

11. Appendix                             

                11.1 Scope of the report         

                                12.1.1 Market definition

                                12.1.2 Objectives

                                12.1.3 Notes and caveats

                11.2 Currency conversion rates for US$            

                                Exhibit 88: Currency conversion rates for US$?

                11.3 Research Methodology 

                                Exhibit 89: Research Methodology

                                Exhibit 90: Validation techniques employed for market sizing?

                                Exhibit 91: Information sources

                11.4 List of abbreviations        

About Technavio

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