Clean Energy Market, By Product (Hydropower, Wind, Solar, and Bioenergy), By Application (Industrial, Residential, and Commercial), By Region – Global Analysis Forecast Till 2030

The Global Clean Energy Market size was estimated at USD 870.6 Billion in 2021 and is expected to hit around USD 2.1 Trillion by 2030, projected to grow at a compound annual growth rate (CAGR) of 16.8% during the forecast period 2022 to 2030.

The transition to low-carbon fuels and the strict environmental restrictions in most developed nations have significantly boosted the renewable energy industry. Due to the need to reduce greenhouse gas emissions and the growing environmental concerns, the installed capacity of renewable energy sources has increased in the energy generation sector during the past several years (GHG). This has greatly contributed to the growth of the solar and wind energy industries.

Clean energy is the driving force behind a sustainable and greener future. From clean energy sources such as solar power, wind power, biomass energy, geothermal energy, and hydroelectric power, to clean energy fuels and charging stations, the world is embracing renewable and alternative energy solutions. These initiatives promote energy efficiency, reduce carbon footprints, and foster energy conservation. By transitioning to clean energy, we can mitigate the adverse effects of climate change and create a cleaner, healthier planet for future generations.

Market Dynamics

Drivers:

The market in the United States is fueled by encouraging laws and strategies as well as the widespread availability of biomass feedstock. Due to the strict government emission rules, the number of renewable energy facilities in the nation has expanded. The rising use of gas-based and renewable power sources in comparison to coal-based power generation has changed the country's power landscape. The demand for renewable energy is expected to rise as a result of factors like rising distribution costs for electricity, power outages caused by problems with the main grid, and incentive programmes put out by the US government. Germany has a sophisticated economy and is one of the major markets in Europe.

To lessen its dependency on traditional sources like crude oil, coal, and others and to become energy independent, the nation has made investments in unconventional power production technologies over the past few years. The solar power generating industry has been expanding quickly over the past few years and is anticipated to continue doing so over the coming years due to investments made in renewable energy generation in significant quantities. Over the course of the projected period, the industry is anticipated to be driven by Germany's expanding solar sector.

Key players:

• ABB

• Acconia

• Enel Spa

• General Electric

• Innergex

• Invenergy

• Schneider Electric

• Siemens Gamesa Renewable Energy, S.A.

• Suzlon Energy Ltd.

• Tata Power

• Xcel Energy, Inc.

Market Segmentation:

Clean Energy Market, By Product

• Hydropower

• Wind

• Solar

• and Bioenergy

Clean Energy Market, By Application

• Industrial

• Residential

• and Commercial

Clean Energy Market, By Region

• North America

• Europe

• Asia-Pacific

• Latin America

• Middle East & Africa (MEA)

Regional Analysis:

With more than xx% of global revenue in 2021, the Asia Pacific region had the highest share. Because more solar power plants are being installed in China and India, there is a rising need for renewable energy in Asia-Pacific. Globally and in the Asia Pacific, these nations serve as the major markets for solar energy products. Since they have been spending heavily in solar power generation over the past few years, nations in the region including Australia and Japan, among others, have a strong development potential for the market. Throughout the projected period, North American markets are anticipated to expand significantly.

Scope of the Report:

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