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Renewable Energy Building Blocks: Introduction

  • Renewable energy building block is a collection of various energy forms, which exist across the globe. Rise in growth of renewable energy across the globe is anticipated to drive the renewable energy building blocks market. Increase in emission of greenhouse gases, particularly CO2, owing to the high utilization of fossil fuels for generation of energy is likely to augment the demand for renewable energy sources in the near future.
  • Limited presence of fossil fuel on the earth and fluctuation in prices of fuels are also expected to propel the renewable energy building blocks market

Key Drivers and Restraints of Global Renewable Energy Building Blocks Market

  • The energy market has been witnessing rapid changes. Cost reductions, innovation, and policy frameworks are driving the demand for renewable energy across the globe. Need to tackle climate change and advance sustainable development are further strengthening the momentum of energy transition. As a result, many countries are striving to accelerate the deployment of renewables.
  • The global renewable energy building blocks market has been expanding due to the increase in competitiveness of solar photovoltaic manufacturers and rise in demand for electricity in developing countries. Increase in awareness about the technology used for reducing carbon dioxide emissions and growth in government policy across the globe are also expected to drive the renewable energy building blocks market.
  • Higher dependency on renewable energy is likely to lead to a decrease in greenhouse gas emissions and air pollution, thereby mitigating climate change and improving human health. Growth in renewable energy is expected to augment the economic growth and development. This, in turn, is attracting investment and support for the transition toward a clean energy future.
  • The renewable energy building blocks market is likely to be hampered by the lack of awareness about renewable energy building blocks. Lack of political support is also projected to inhibit the market in the near future. Commercialization or building of any plant for generation of energy from renewable sources entails significant investment. This is anticipated to adversely affect the renewable energy building blocks market.

Global Renewable Energy Building Blocks Market: Segmentation

  • Based on type, the global renewable energy building blocks market can be segmented into wind power, solar energy, bio-based, and others (including hydropower and municipal waste). The wind power segment held major share of the market in 2020. It was followed by the solar energy segment. According to the Federal Ministry for Economic Affairs and Energy, wind power held 16.3% of renewable energy, while solar energy accounted for 6.1% share of the gross electricity generation in Germany in 2017. Rise in awareness about to the benefits of solar energy panels, which are used for heating and cooling of water, and increase in usage of solar energy in lamps and street lights are estimated to drive the solar energy market in the near future.
  • Based on end-use, global the market can be divided into residential, commercial, industrial, and others. Residential and commercial segments are anticipated to dominate the market. High share of these segments can be ascribed to the rise in construction activities across the globe. Increase in reconstruction of commercial buildings is projected to create lucrative opportunities for solar energy across the globe. Depletion of fossil fuels such as coal is likely to compel miners of coal to shift their focus on the production of renewable based materials for electricity generation. This is anticipated to drive the renewable energy building blocks market in the near future.

Global Renewable Energy Building Blocks Market: Regional Segmentation

  • Based on region, the global renewable energy building blocks market can be split into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
  • Increase in government initiatives and rise in investments in the development of renewable feedstock in countries of Asia Pacific are the key factors propelling the demand for renewable energy building blocks in the region
  • The market in Europe and North America is expected to expand at a significant pace by the end of the forecast period, owing to the rise in regulation on decreasing the global warming potential and decline in carbon footprint across these regions. This is anticipated to drive the demand for renewable energy across these regions.  

COVID Impact on the Global Renewable Energy Building Blocks Market:-

  • The outbreak of the COVID-19 pandemic has disrupted the supply chain as well as availability of manpower due to the lockdown in various countries. This has led to a decrease in production of renewable energy building blocks and low demand from end-users. In turn, this is adversely affecting the global renewable energy building blocks market. However, governments of some countries have lifted lockdown restrictions. This has led to an increase in production of renewable energy building blocks. Thus, the market is likely to expand in the near future led by governmental support and steady rise in demand.

Key Players Operating in Global Market

  • ABB Ltd.
  • Koninklijke DSM N.V.
  • General Electric
  • The Tata Power Company Limited
  • Innergex Renewable Energy Inc.
  • Enel SpA
  • Xcel Energy Inc.
  • Geronimo Energy, LLC
  • Invenergy LLC
  • ACCIONA, S.A.

Global Renewable Energy Building Blocks Market: Research Scope

Global Renewable Energy Building Blocks Market, by Type

  • Wind Power
  • Solar Energy
  • Bio-based
  • Others

Global Renewable Energy Building Blocks Market, End-user

  • Residential
  • Commercial
  • Industrial
  • Others

Global Renewable Energy Building Blocks Market, by Region

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • France
    • U.K.
    • Italy
    • Spain
    • Russia & CIS
    • Rest of Europe
  • Asia Pacific
    • China
    • South Korea
    • Japan
    • India
    • ASEAN
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

With a robust experience in creating exceptional market reports, Transparency Market Research has emerged as one of the trusted market research companies among a large number of stakeholders and CXOs. Every report at Transparency Market Research goes through rigorous research activity in every aspect. The researchers at TMR keep a close watch on the market and extract beneficial growth-boosting points. These points help the stakeholders to strategize their business plans accordingly.

TMR researchers conduct exhaustive qualitative and quantitative research. This research involves taking inputs from the experts in the market, focused attention on recent developments, and others. This method of research makes TMR stand out from other market research firms.

Here's how Transparency Market Research helps the stakeholders and CXOs through the reports:

Inculcation and Evaluation of Strategic Collaborations: The TMR researchers analyze recent strategic activities like mergers, acquisitions, partnerships, collaborations, and joint ventures. All the information is compiled and included in the report.

Perfect Market Size Estimations: The report analyzes the demographics, growth potential, and capability of the market through the forecast period. This factor leads to the estimation of the market size and also provides an outline about how the market will retrieve growth during the assessment period.

Investment Research: The report focuses on the ongoing and upcoming investment opportunities across a particular market. These developments make the stakeholders aware of the current investment scenario across the market.

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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Renewable Energy Building Blocks Market