Green Energy Market, By Product Type (Solar photovoltaic, Wind energy, Hydroelectric power, Biofuels, and Geothermal energy), By End User (Residential, Commercial, and Industrial), By Geography (North America, Latin America, Europe, Asia Pacific, Middle E

Green Energy Market, By Product Type (Solar photovoltaic, Wind energy, Hydroelectric power, Biofuels, and Geothermal energy), By End User (Residential, Commercial, and Industrial), By Geography (North America, Latin America, Europe, Asia Pacific, Middle East & Africa)

The green energy Market size is valued at US$ 1,134.65 Bn in 2024 and is expected to reach US$ 2,804.51 Bn by 2031, growing at a compound annual growth rate (CAGR) of 13.8% from 2024 to 2031.

Figure 1. Green Energy Market Share (%), By Region, 2024

Global green energy market has witnessed significant growth in 2021 recent years and is expected to grow steadily during the forecast period from 2024 to 2031. Factors such as rising environmental concerns due to the increasing effects of climate change, supportive government policies and regulations promoting the use of clean energy, and declining costs of renewable technologies compared to fossil fuels have contributed to the growth of this sector. Major players are investing heavily in research and development (R&D) to make renewable power generation more efficient and cost-competitive. Significant progress has been made in harnessing energy from clean and renewable sources such as solar, wind, hydropower, and others. These developments are expected to drive the demand for green technology solutions. However, intermittent availability of renewable resources poses challenges and needs to be addressed to achieve grid parity.

Market Dynamics:

The key drivers propelling the market include growing environmental awareness, supportive government policies and regulations, and declining costs of renewable technologies. Stringent environmental norms and carbon emission reduction targets set by various governments across the globe are driving investments in renewable power. Regulatory policies including tax exemptions, feed-in tariffs, and renewable purchase obligations have encouraged renewable capacity addition. The costs of solar PV modules and wind turbines have declined substantially, thus making renewable energy prices competitive with fossil fuels in many places. However, high initial capital investments and intermittent nature of renewable resources act as challenges for widespread adoption. Technological advancements in battery storage systems provide significant opportunities to address the intermittency issue and scale up renewable penetration in the energy mix.

Key Features of the Study:

• This report provides an in-depth analysis of the market, and provides market size (US$ Bn) and compound annual growth rate (CAGR %) for the forecast period (2024-2031), considering 2023 as the base year.
• It elucidates potential revenue growth opportunities across different segments and explains attractive investment proposition matrices for this market.
• This study also provides key insights about market drivers, restraints, opportunities, new product launches or approvals, market trends, regional outlook, and competitive strategies adopted by key players.
• It profiles key players in the market based on the following parameters - company highlights, products portfolio, key highlights, financial performance, and strategies.
• Key companies covered as a part of this study include -ABB Ltd., Alterra Power Corporation, Kyocera Solar, Inc., Nordex SE, Hanwha Q Cells GmbH, Sharp Corporation, Calpine Corporation, Suzlon Energy Ltd., U.S. Geothermal Inc., Yingli Green Energy Holding Co. Ltd., Enercon GmbH, and GE Energy.
• Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up gradation, market expansion, and marketing tactics.
• The market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts.
• Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the market.

Global Green Energy Market Detailed Segmentation:

• By Product Type
• Solar photovoltaic
• Wind energy
• Hydroelectric power
• Biofuels
• Geothermal energy
• By End User
• Residential
• Commercial
• Industrial
• By Region
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East
• Africa
• Top Companies in the this Market
• ABB Ltd.
• Alterra Power Corporation
• Kyocera Solar, Inc.
• Nordex SE
• Hanwha Q Cells GmbH
• Sharp Corporation
• Calpine Corporation
• Suzlon Energy Ltd.
• S. Geothermal Inc.
• Yingli Green Energy Holding Co. Ltd.
• Enercon GmbH
• GE Energy