North America Renewable Energy Market Report and Forecast 2023-2028

North America Renewable Energy Market Report and Forecast 2023-2028


Market Outlook

According to the report by Expert Market Research (EMR), the North America renewable energy market is aided by the growth of the global renewable energy market, which reached an installation capacity of more than 2641.58 gigawatts in 2022. Aided by the rising demand for sustainable energy sources and introduction of favourable government policies in the region, the market is expected to witness a healthy growth during 2023-2028.

Renewable energy, encompassing wind, solar, hydro, and geothermal power, among others, has been at the forefront of addressing global environmental challenges, with North America being a vanguard in its uptake. These energy sources are inherently inexhaustible and can significantly reduce carbon emissions, playing a crucial role in mitigating climate change effects.

The shift towards sustainable energy solutions from fossil-based sources is a major driver for the North America renewable energy market growth. A surge in environmental consciousness, coupled with rigorous governmental initiatives and policies, has been pivotal in steering both businesses and consumers towards green energy adoption. Additionally, technological advancements, ranging from enhanced solar cell efficiency to smarter wind turbines, have augmented the capacity and efficiency of renewable energy installations.

One of the North America renewable energy market trends is the growing shift towards solar energy. Solar installations, both photovoltaic and concentrated, have seen a substantial rise in recent years. The plummeting costs of solar panels, combined with their increasing efficiency, have made them a go-to solution for many households and businesses. Furthermore, wind energy, especially offshore wind farms, is observing heightened attention due to its massive potential and declining installation costs.

As per the North America renewable energy market analysis, the industrial sector is emerging as a significant adopter of renewable energy. With industries aiming to minimise their carbon footprint and operational costs, renewable sources like solar and wind are becoming common in their energy mix. Additionally, utilities are rapidly increasing their renewable energy adoption, anticipating a greener future and responding to consumer demand for cleaner power sources.

Simultaneously, the transition to renewable energy has given impetus to the storage solutions sector. As the reliability of renewable sources can be intermittent, the demand for efficient energy storage systems, such as advanced battery technologies, has risen, bolstering the overall North America renewable energy market demand. These storage solutions not only ensure a steady power supply but also aid in grid balancing and energy management.

Market Segmentation

The market can be divided based on type and country.

Market Breakup by Type
  • Hydropower
  • Onshore Wind
  • Solar
  • Bio Energy
  • Others
Market Breakup by Country
  • United States of America
  • Canada
Competitive Landscape

The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the North America renewable energy market. Some of the major players explored in the report by Expert Market Research are as follows:
  • NextEra Energy, Inc.
  • Schneider Electric SE
  • Swinerton Renewable Energy
  • Signal Energy LLC
  • M. A. Mortenson Company
  • Others
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*We at Expert Market Research always strive to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.


1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Snapshot
6.1 North America
7 Opportunities and Challenges in the Market
8 Global Renewable Energy Market Analysis
8.1 Key Industry Highlights
8.2 Global Renewable Energy Historical Market (2018-2022)
8.3 Global Renewable Energy Market Forecast (2023-2028)
8.4 Global Renewable Energy Market by Region
8.4.1 North America
8.4.2 Europe
8.4.3 Asia Pacific
8.4.4 Latin America
8.4.5 Middle East and Africa
9 North America Renewable Energy Market Analysis
9.1 Key Industry Highlights
9.2 North America Renewable Energy Historical Market (2018-2022)
9.3 North America Renewable Energy Market Forecast (2023-2028)
9.4 North America Renewable Energy Market by Type
9.4.1 Hydropower
9.4.1.1 Historical Trend (2018-2022)
9.4.1.2 Forecast Trend (2023-2028)
9.4.2 Onshore Wind
9.4.2.1 Historical Trend (2018-2022)
9.4.2.2 Forecast Trend (2023-2028)
9.4.3 Solar
9.4.3.1 Historical Trend (2018-2022)
9.4.3.2 Forecast Trend (2023-2028)
9.4.4 Bio Energy
9.4.4.1 Historical Trend (2018-2022)
9.4.4.2 Forecast Trend (2023-2028)
9.4.5 Others
9.5 North America Renewable Energy Market by Country
9.5.1 United States of America
9.5.2 Canada
10 Regional Analysis
10.1 United States of America
10.1.1 Historical Trend (2018-2022)
10.1.2 Forecast Trend (2023-2028)
10.1.3 Market Breakup by Type
10.1.4 Electricity Generation by Fuel Source
10.2 Canada
10.2.1 Historical Trend (2018-2022)
10.2.2 Forecast Trend (2023-2028)
10.2.3 Market Breakup by Type
10.2.4 Electricity Generation by Fuel Source
11 Market Dynamics
11.1 SWOT Analysis
11.1.1 Strengths
11.1.2 Weaknesses
11.1.3 Opportunities
11.1.4 Threats
11.2 Porter’s Five Forces Analysis
11.2.1 Supplier’s Power
11.2.2 Buyer’s Power
11.2.3 Threat of New Entrants
11.2.4 Degree of Rivalry
11.2.5 Threat of Substitutes
11.3 Key Indicators for Demand
11.4 Key Indicators for Price
12 Value Chain Analysis
13 Competitive Landscape
13.1 Market Structure
13.2 Company Profiles
13.2.1 NextEra Energy, Inc. (NYSE: NEE)
13.2.1.1 Company Overview
13.2.1.2 Product Portfolio
13.2.1.3 Demographic Reach and Achievements
13.2.1.4 Certifications
13.2.2 Schneider Electric SE (EPA: SU)
13.2.2.1 Company Overview
13.2.2.2 Product Portfolio
13.2.2.3 Demographic Reach and Achievements
13.2.2.4 Certifications
13.2.3 Swinerton Renewable Energy
13.2.3.1 Company Overview
13.2.3.2 Product Portfolio
13.2.3.3 Demographic Reach and Achievements
13.2.3.4 Certifications
13.2.4 Signal Energy LLC
13.2.4.1 Company Overview
13.2.4.2 Product Portfolio
13.2.4.3 Demographic Reach and Achievements
13.2.4.4 Certifications
13.2.5 M. A. Mortenson Company
13.2.5.1 Company Overview
13.2.5.2 Product Portfolio
13.2.5.3 Demographic Reach and Achievements
13.2.5.4 Certifications
13.2.6 Others
14 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Renewable Energy Market: Key Industry Highlights, 2018-2028
2. Global Renewable Energy Historical Market: Breakup by Type (Gigawatts), 2018-2022
3. Global Renewable Energy Historical Market: Breakup by Country, 2018-2022
4. North America Renewable Energy Market: Key Industry Highlights, 2018 and 2028
5. North America Renewable Energy Market Forecast: Breakup by Type (Gigawatts), 2023-2028
6. North America Renewable Energy Historical Market: Breakup by Country (Gigawatts), 2018-2022
7. North America Renewable Energy Market Forecast: Breakup by Country (Gigawatts), 2023-2028
8. United States Renewable Energy Market: Key Industry Highlights, 2018 and 2028
9. Unites States Renewable Energy Market Forecast: Breakup by Fuel Source (Gigawatts), 2023-2028
10. Canada Renewable Energy Market: Key Industry Highlights, 2018 and 2028
11. Canada Renewable Energy Market Forecast: Breakup by Fuel Source (Gigawatts), 2023-2028
12. North America Renewable Energy Market Structure

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