Renewable Energy Global Market – Overview

The Global Renewable Energy Market has witnessed a remarkable growth in the past few years and it has been anticipated that the renewable energy will grow at the rapid pace during the forecast period. In 2016, world saw several developments and ongoing trends that all have a bearing on renewable energy, including the continuation of comparatively low global fossil fuel prices, dramatic price declines of several renewable energy technologies, and a continued increase in attention to energy storage. It was observed for the third consecutive year, global energy-related carbon dioxide emissions from fossil fuels and industry were nearly flat in 2016, due largely declining coal use worldwide but also due to improvements in energy efficiency and to increasing use of renewable energy. As of 2015, renewable provided an estimated 19.3% of global final energy consumption, and growth in capacity and production continued in 2016. The power sector experienced the greatest increases in renewable energy capacity in 2016, whereas the growth of renewables in the heating and cooling and transport sectors was comparatively slow. As per the study conducted by Market Research Future, the Global Renewable Energy Market is likely to grow at the CAGR of around 20%.

Most new renewable energy capacity is installed in developing countries, and largely in China, the single largest developer of renewable power and heat over the past eight years. In 2016, renewable energy spread to a growing number of developing and emerging economies, some of which have become important markets. The renewable energy sector employed 9.8 million people in 2016, an increase of 1.1% over 2015. By technology, solar PV and biofuels provided the largest numbers of jobs. Employment shifted further towards Asia, which accounted for 62% of all renewable energy jobs (not including large-scale hydropower), led by China. In 2016, World Energy Council quoted that, hydropower accounted for about 30% of the total global installed power generating capacity and about 23% of total global electricity produced. The tremendous yearly addition in capacity of renewable energy is certainly boosting the renewable energy globally. The development of community renewable energy projects continued in 2016, but the pace of growth in some countries is in decline. In a new trend, such projects have begun to expand into energy retailing (supply), storage and demand-side management. Government policy at all levels remained important for renewable energy developments. The 2015 Paris Agreement of the United Nations Framework Convention on Climate Change (UNFCCC) formally entered into force at the 22nd Conference of the Parties (COP22) in November 2016. However, renewable energy markets were affected only indirectly during the year. A number of governments implemented new renewable energy targets, and several cities established new commitments to 100% renewable energy. Despite the importance of the heat and transport sectors to energy demand and global emissions, policy makers focused predominantly on the power sector.

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Renewable Energy Global Market - Competitive Analysis

The Global Renewable Energy Market seems to be highly competitive. To maintain the market position and to drive the market growth, various dynamic and diversified international organizations, domestic organizations and as well as new entrants form a competitive landscape. Market leaders are innovating continuously and increasingly seeking market expansion through various strategic mergers and acquisitions, product launch, innovation, increasing investments in research and development and cost-effective product portfolio. Major players are investing on internal R&D, collaborating with EPC contractors and, most of all, in acquiring other firms.

Key players:

The leading players profiled by MRFR that are operating in the Global Renewable Energy Market are

Calpine Corporation
Enel Green Power
Vestas Wind Power A/S
Pelamis Wave Power
Yingli Solar
Others

Renewable Energy Global Market – Segmentation

The scope of Global Renewable Energy Market is segmented into two major segments which are explained below:

By Type

Solar Energy
Wind Energy
Geothermal Energy
Bio Energy
Hydropower Energy
Others

By Application

Automotive
Construction
Transportation
Chemical & Petrol-Chemical

By End-User

Residential
Commercial
Industrial

Study Objectives of Renewable Energy Market

To provide detailed analysis of the market structure along with forecast for the next 10 years of the various segments and sub-segments of the global Renewable Energy market
To provide insights about factors affecting the market growth
To Analyze the Renewable Energy market based on various factors- price analysis, supply chain analysis, Porters five force analysis.
To provide historical and forecast revenue of the market segments and sub-segments with respect to six main geographies and their countries- North America, Europe, Asia-Pacific, South America, Middle East, and Africa
To provide country level analysis of the market with respect to the current market size and future prospective
To provide country level analysis of the market for segment by Application, by Type by End User, and by region as well as its sub segments
To provide strategic profiling of key players in the market, comprehensively analyzing their core competencies, and drawing a competitive landscape for the market
To track and analyze competitive developments such as joint ventures, strategic alliances, mergers and acquisitions, and new product developments in the global Renewable Energy market

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