The clean and renewable energy global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Clean and Renewable Energy Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The clean and renewable energy market size has grown exponentially in recent years. It will grow from $274.12 billion in 2023 to $343.15 billion in 2024 at a compound annual growth rate (CAGR) of 25.2%. The growth in the historic period can be attributed to increased environmental awareness and concerns, increased energy security and independence, cost competitiveness, increased policy support and incentives, increased public and private investments, increased energy access and equity, increased corporate sustainability initiatives.
The clean and renewable energy market size is expected to see exponential growth in the next few years. It will grow to $771.46 billion in 2028 at a compound annual growth rate (CAGR) of 22.4%. The growth in the forecast period can be attributed to increasing climate change mitigation goals, increasing electrification of transportation, increasing energy transition in emerging markets, resilience and disaster preparedness, circular economy and resource efficiency, community and stakeholder engagement. Major trends in the forecast period include expansion of distributed generation initiatives, advancements in energy storage technologies, integration into smart grid infrastructure, innovation in offshore wind and floating solar, expansion of microgrid deployments.
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Scope Of Clean and Renewable Energy Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Clean and Renewable Energy Market Overview
Market Drivers –
Increasing investments in the energy sector are expected to propel the clean and renewable energy market going forward. Increasing investments in the energy sector refers to the allocation of financial resources towards activities related to the production, distribution, and development of energy sources. This can include investments in renewable energy sources such as solar, wind, hydroelectric, and geothermal power, as well as traditional energy sources like oil, natural gas, and coal. Investment in clean and renewable energy is crucial for mitigating climate change and achieving a sustainable future by reducing dependence on fossil fuels and promoting environmentally friendly alternatives. For instance, in May 2023, according to the International Energy Agency (IEA), a France-based intergovernmental organization, global energy investment rose to $1,740 billion in 2023 from $1,617 billion in 2022. Around USD 2.8 trillion will be invested in energy in 2023. More than USD 1.7 trillion is being allocated to clean energy initiatives, encompassing renewable power, nuclear, grids, storage, low-emission fuels, efficiency enhancements, end-use renewables, and electrification. Therefore, increasing investments in the energy sector are driving the growth of the clean and renewable energy market.
Market Trends –
Major companies operating in the clean and renewable energy market are increasing their focus on developing innovative products, such as solar panels and combiner boxes, to gain a competitive edge in the market. A solar panel is a device that converts sunlight into electricity using photovoltaic cells, typically made of semiconductor materials. A combiner box is an enclosure that consolidates and protects the electrical connections from multiple solar panels. For instance, in February 2023, Green World Renewable Energy LLC, a US-based renewable energy company, launched an innovative solar panel and combiner box. The new solar panel and combiner box system are designed to provide a dependable and efficient method of solar energy collection, offering a sustainable, affordable, and environmentally friendly alternative to conventional energy sources. The combiner box is an essential component of the system that manages and optimizes the electricity generated by integrating the output from multiple panels into a single stream.
The clean and renewable energy market covered in this report is segmented –
1) By Type: Hydroelectric Power, Wind Power, Bio Energy, Solar Energy, Geothermal Energy, Other Types
2) By Application: Power Generation, Heating And Cooling, Transportation, Rural Electrification, Desalination, Other Applications
3) By End-Use: Residential, Commercial , Industrial, Other End-Uses
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Regional Insights –
Asia-Pacific was the largest region in the clean and renewable energy market in 2023. The regions covered in the clean and renewable energy market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the clean and renewable energy market are Électricité de France S.A., Panasonic Corporation, Hanwha Group, Sharp Corporation, LONGi Green Energy Technology Co. Ltd., Xcel Energy Inc., Trina Solar Co. Ltd., JinkoSolar Holding Co. Ltd., Acciona S.A., Canadian Solar Inc., Kaneka Corporation, Risen Energy Co. Ltd., National Grid Renewables, First Solar Inc., Abengoa SE, JA Solar Technology Co. Ltd., SolarWorld AG, Tata Power Systems Limited, Yingli Solar, Hevel Group, GreenBrilliance, ReneSola Ltd., GAF Energy LLC, SunEdison Inc., Indosolar Limited, United Renewable Energy LLC
Table of Contents
1. Executive Summary
2. Clean and Renewable Energy Market Report Structure
3. Clean and Renewable Energy Market Trends And Strategies
4. Clean and Renewable Energy Market – Macro Economic Scenario
5. Global Clean and Renewable Energy Market Size and Growth
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32. Global Clean and Renewable Energy Market Competitive Benchmarking
33. Global Clean and Renewable Energy Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Clean and Renewable Energy Market
35. Clean and Renewable Energy Market Future Outlook and Potential Analysis
36. Appendix
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