The global renewable energy market is set to achieve an incremental growth of USD 361 billion, accelerating at a CAGR of almost 6.3% during the forecast period 2022-2028, According to market research study published by Intelligence Market Report
London, UK -- (SBWIRE) -- 01/18/2023 -- Renewable Energy Market Scope & Overview
The global renewable energy market is an ever-growing sector of the economy that promises to reduce global reliance on fossil fuels, cut carbon emissions, and minimize the negative impacts of climate change. This industry utilizes energy harvested from renewable energy sources such as sunlight, wind, and water, to generate electricity. Such energy sources are abundant and free, making them a viable source of renewable energy.
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Key Players Covered in Renewable Energy market report are:
Canadian Solar Inc.,
China Huadian Corporation,
China Yangtze Power Co. Ltd.,
Duke Energy Corporation,
General Electric Company,
NextEra Energy Inc.,
Ocean Power Technologies Inc.,
SynTech Bioenergy LLC,
Vestas Wind Systems A/S.
In recent years, governments across the world have taken proactive steps to develop the renewable energy sector. For example, the EU has put in place the Renewable Energy Directive, which requires member countries to produce at least 32% of their energy from renewable sources by 2030. Such policies are incentivizing citizens to invest in renewable energy systems and make a meaningful contribution to the global effort against climate change.
Renewable Energy Market Segmentation as Follows:
segmented by technology:
segmented by end user:
- Asia Pacific
- North America
- Rest of the World (RoW)
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Technological advances have also spurred the global renewable energy market. Advances in solar and wind power production have urged companies to invest heavily in the development of renewable energy farms, driving down costs and making the technology more viable and attractive to the public. Such advancements have also made user-installed renewable energy systems simpler, meaning that households need not rely on their national energy provider.
Finally, the rise of the sharing economy has seen households, businesses, and investors swapping renewable energy between one another, driving down the cost of energy and making it more widely available. This enterprise, though still in its early stages of development, has the potential to provide significant economic boosts to all involved, as well as providing cleaner, cheaper energy than traditional sources.
In conclusion, the global renewable energy market is both economically rewarding and environmentally responsible. With technological advancements, ambitious policies, and the entrance of the sharing economy, this market promises to drive down emissions and provide accessible, environmentally sustainable energy for everyone.
Table of Content – Analysis of Key Points
Chapter 1. Executive Summary
Chapter 2. Global Market Definition and Scope
Chapter 3. Global Market Dynamics
Chapter 4. Global Renewable Energy Market Industry Analysis
Chapter 5. Renewable Energy Global Market, by Type
Chapter 6. Renewable Energy Global Market, by Application
Chapter 7. Renewable Energy Global Market, Regional Analysis
Chapter 8. Competitive Intelligence
Chapter 9. Key Companies Analysis
Chapter 10. Research Process
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