The U.S. Energy Information Administration (EIA) says that the demand for energy will exhibit an annual growth rate of 2.5%. But renewable energy will outpace this growth rate, eventually taking up a higher share of the entire global energy market.
Using a lucid chapter-wise format interspersed with an array of infographics and tables, the report systematically analyzes the energetics of the global renewable energy market. While a few renewable energy sources have been in use for well over a decade, and have already reached cost-efficiency, a few others are still struggling to gain a foothold in the global renewable energy market. The report studies different renewable energy types such as hydroelectricity, solar power, wind power, geothermal energy, and biomass and waste energy. Each of these segments is analyzed from the global and regional standpoint.
The report extensively relies on secondary and primary research techniques, and makes use of industry-leading databases and tools. This report will prove to be a valuable asset for investment banks, manufacturers of solar cells and photovoltaic equipment, research organizations, manufacturers of equipment for biofuel, wind turbines and hydro turbines, and so on.
Overview of the Global Renewable Energy Market
According to the U.S. Department of Energy, global energy consumption will rise by 59% in a 20-year period from 2001 through 2020. This escalating demand will put further pressure on energy sources such as coal, oil, and gas – all of which are exhaustible.
On the bright side, growing energy consumption creates a fertile ground for the development and proliferation of renewable energy sources. Consequently, this would result in renewable energy sources becoming more cost-effective, which would further prompt new players to enter the market and contribute to its growth rate. This change is already happening, with governments strongly backing more investments in renewable energy and formulating policies conducive to this change. Public sentiment plays an important role in shaping this approach of governments as people are now more supportive of renewable energy initiatives by the administration. The report covers renewable energy sources such as solar power, wind energy, bio-fuels, hydroelectric energy, and other emerging sources.
Growth in the global renewable energy market will be curtailed by the high cost of capital required for renewable energy projects, unpredictable and varying amounts of solar and wind energy, and practical issues associated with construction of infrastructure in difficult-to-access or remote locations (especially in the case of geothermal and tidal energy).
Regional and market performance
An impressive 50% of the global renewable energy market (in revenue terms), is dominated by hydro power. Wind power and bio fuels follow at a distant second spot. Solar and geothermal energy-though expanding-occupy just about 10% of the overall global renewable energy market.
The renewable energy market in North America and Europe is the strongest, thanks largely to regulations geared toward reducing dependence on non-renewable energy sources. Going forward, developed countries in these regions will face stiff competition from energy-hungry emerging countries in APAC. Having spotted the long-term lucrative growth opportunities in renewable energy, corporates are venturing forth enthusiastically into this market. Region-wise, the renewable energy market is fragmented and will likely begin to witness M&As in the near future.
Players in the Global Renewable Energy Market
Some of the leading entities in the global renewable energy market that have been profiled in the report are: Archer Daniels Midland Company, EnteNazionale Per L’EnergiaElettricaSpA, GE Energy, Kyocera Solar Inc., Reykjavik Energy, Siemens AG, Suzlon Energy Ltd., and more.
- Market Segmentation
- Biomass and Waste Energy
- Geothermal Energy
- Solar Power
- Wind Energy
This market research report analyzes the following geographies:
- North America
- Asia Pacific
- Rest of the World
This report gives you access to decisive data such as:
- Market growth drivers
- Factors limiting market growth
- Current market trends
- Market structure
- Market projections for the coming years
Key highlights of this report
- Overview of key market forces propelling and restraining market growth
- Up-to-date analyses of market trends and technological improvements
- Pin-point analyses of market competition dynamics to offer you a competitive edge
- An analysis of strategies of major competitors
- An array of graphics and SWOT analysis of major industry segments
- Detailed analyses of industry trends
- A well-defined technological growth map with an impact-analysis
- Offers a clear understanding of the competitive landscape and key product segments