MarkNtel Advisors recently published a detailed industry analysis of the Renewable Energy Market. The report covers growth trends, geographical marketing strategies, challenges, opportunities, and drivers influencing the market.
Insights and Analysis of the Renewable Energy Market (2024-2030)
The Global Renewable Energy Market size was valued at around USD 995.28 billion in 2023 and would grow at a CAGR of around 8.96% during the forecast period, i.e., 2024-30.
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What is driving the Renewable Energy Market?
Rising Energy Security Concerns to Drive Market Growth – In today’s world, being energy-dependent is a serious threat to the nation’s economy. The conventional energy sources being limited to some parts of the globe disturbed the balance of power & income between nations. Therefore, a crucial need for upgrading and transitioning to new energy sources arose. Nations with low reserves of fossil fuels have been the first to deploy renewable energy in their existing power grids. Countries such as China and India have rapidly increased the share of renewables, especially solar, in their energy mix, helping in the steady addition of global renewable energy capacity each year. As per the IEA, in 2023 alone, approximately 510 GW was added to the existing capacity, which is estimated to be an increase of about 50% in contrast with that of 2022. For this, the countries have extended support to the private players in terms of policy support, financial support, etc., which has been fueling the market size & volume of renewable energy globally. For Instance,
- In 2023, the Indian government aimed to invest nearly USD 4.3 billion for its energy security goals and green energy transition plans.
What segments define the Renewable Energy Market from 2024 to 2030? How do these segments contribute to market dynamics and growth?
By Source
(Solar, Wind, Hydro, Others (Biomass, geothermal, etc.)),
By End User
(Residential, Commercial, Industrial)
Region
(North America, South America, Europe, The Middle East & Africa, Asia-Pacific)
Explore the Complete Renewable Energy Market Analysis Report – https://www.marknteladvisors.com/research-library/renewable-energy-market.html
Who are the leading key players shaping the Renewable Energy Market landscape?
Iberdrola, Siemens Gamesa, Ørsted A/S, NextEra Energy, Inc., EDf Renewable, General Electric, Vestas, Acciona, S.A., Canadian Solar, Enel Green Power SpA, Lightsource BP, Adani Green Energy Ltd., Tata Power Renewables, Enterprize Energy, JSW Energy, and others
Questions Addressed in this Study
1.What factors are driving the Renewable Energy Market growth?
2.How is the Renewable Energy Market expected to grow over the next five years?
3.What are the key insights into the current trends in the Renewable Energy Market?
4.What is the current size of the Renewable Energy Market, and how is it projected to change in the future?
6.What is the future outlook for the Renewable Energy Market in terms of technological advancements and market expansion?
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Why MarkNtel Advisors?
MarkNtel Advisors is a leading research, consulting, & data analytics firm that provides an extensive range of strategic reports on diverse industry verticals. We deliver data to a substantial & varied client base, including multinational corporations, financial institutions, governments, & individuals, among others.
Our specialization in niche industries & emerging geographies allows our clients to formulate their strategies in a much more informed way and entail parameters like Go-to-Market (GTM), product development, feasibility analysis, project scoping, market segmentation, competitive benchmarking, market sizing & forecasting, & trend analysis, among others, for 15 diverse industrial verticals.
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