MarkNtel Advisors latest report titled Renewable Energy Market Report by Renewable Energy Market Report –Analysis, Scope, Trends, Forecast 2025-2030 indicates that 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., 2025-30

Global Renewable Energy Market Driver:

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.

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Renewable Energy Market Segmentation:

-By Source

-Solar – Market Size & Forecast, 2019-2030, MWh

-Wind – Market Size & Forecast, 2019-2030, MWh

-Hydro – Market Size & Forecast, 2019-2030, MWh

-Others (Biomass, geothermal, etc.) – Market Size & Forecast, 2019-2030, MWh

-By End User

-Residential – Market Size & Forecast, 2019-2030, MWh

-Commercial – Market Size & Forecast, 2019-2030, MWh

-Industrial – Market Size & Forecast, 2019-2030, MWh

What are the key regions in the Renewable Energy market?

-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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