The green power market would grow at a CAGR of 11.54% over the predicted time frame. The market is expected to increase in value from US$ 52.88 Bn in 2022 to US$ 126.7 Bn in 2030.
The green power market is primarily the production of electricity in an ecofriendly manner, with the help of the renewable sources like the biomass, solar low impact, hydropower and wind. There's an increased awareness among the consumers regarding the sources of electricity supply, which are environment friendly and with zero emission. The demand for the giving power sources has increased in the recent times due to various awareness campaigns conducted by the government and initiatives taken taken in order to educate about the availability of green power sources.
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Report Highlights
On the basis of the type of power, the hydroelectric power is there a new aghbal energy source which is expected to grow during the forecast. The hydropower projects are in demand as they are able to supply clean water for agriculture, for businesses and homes. And they also help in combating the impacts of extreme weather events, such as the droughts and floods. The hydropower source of energy happens to be the largest source and it has contributed the largest in the year 2020.
On the basis of application, the transportation segment is expected to grow during the forecast period owing to various government initiatives for zero emission or less emission of the greenhouse gases. The market for E scooters and E bikes is growing rapidly, leading to an increase in demand for transportation. Using green power the introduction of electronic cars has also led to an increase in the. transportation segment on the basis of application of the green power.
Depending upon the regional segmentation, Pacific market is expected to grow during the forecast. China shall be the global leader. And the country's total energy capacity had reached 894 gigawatts in the year 2020. India is also expected to show a significant rise. The Indian market provides. Good opportunity for growth as India is the world's third largest power consumer. The Indian government had already set a target of installing 175 gigawatts of renewable energy capacity by the year 2022. The net power generation capacity of India increased significantly in the recent years due to renewable energy sources and the generation through hydro power.
Regional Snapshot
The Asia Pacific market has dominated in the global green power market through the years and it is expected to grow during the forecast. There is an increased Industrialization rise in infrastructure and the various government initiatives which are leading to a growth in their market. In countries like India and China, many initiatives are taken by the government in order to provide electricity which is generated through green sources. The share for the highest green power market in Asia Pacific goes to China. In order to reduce its dependency on the fossil fuels, China is adopting renewable energy sources for the generation of electricity. In US and in Canada the green power market is rapidly expanding due to the increase in infrastructure and industrialization. The European market is expected to grow at a steady pace due to such developments. In the next five years, Europe is expected to install 105 gigabytes of new wind energy capacity.
Market Dynamics
Drivers
In many regions across the globe the governments are taking initiatives in order to make the green power available for the use of the public. These rising government initiatives are driving the market and they're expected to grow during the forecast. The consumers are also aware about the availability of the environment friendly sources such as wind, solar and other sources for generation of electricity. Many consumers are adopting these sources in order to generate electricity on small scale.
Restraints
Lack of proper battery storage system, old infrastructure, government policies is all responsible for the causing delays in the growth of this market. There are barriers for the entry of the new market players. The cost of installation is also high for some projects.
Opportunities
There is an increased development of solar parks in various nations, which provides a good opportunity for the growth of this market. Governments are taking initiatives to create awareness among the consumers regarding the renewable energy sources. These factors provide opportunity for the growth of this market during the forecast. Governments in nations like Germany, US, India, Japan and China are opening the opportunities for the green power market.
Challenges
The production of electricity through renewable energy requires more land as compared to fossil fuels. It also poses a challenge for the wildlife conservation. The widespread adoption of green energy is a challenge due to the various economical, social, political and structural problems
Recent Developments
- In 2021, Amazon, which is a corporate purchaser of renewable energy announced its investment in Canada. The electricity for this investment will be acquired from a new solar project in Newell Country which is developed by Greengate Power Corp of Calgary.
- Walmart announced in 2021. That it completed 6.5 MW of solar energy systems across 7 California stores. To this project, Bank of America served as a tax equity partner and the portfolio included a mixture of solar energy systems, which were installed at the parking lots, the rooftops and carports.
- The International Renewable Energy Agency and the International Hydropower Association collaborated in 2021. These organizations will work together. For financing, developing and deploying the sustainable hydropower in the future.
Market Segmentation
By Power
- Wind Energy
- Solar Energy
- Geothermal Energy
- Hydropower
- Bioenergy
By Application
- Electricity generation
- Transportation
- Heating
- Others
By End User
- Utility
- Residential
- Industrial
- Commercial
By Geography
- North America
- Europe
- Asia-Pacific
- Latin America
- Middle East & Africa (MEA)
Table of Content
Chapter 1. Introduction
1.1. Research Objective
1.2. Scope of the Study
1.3. Definition
Chapter 2. Research Methodology
2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations
Chapter 3. Executive Summary
3.1. Market Snapshot
Chapter 4. Market Variables and Scope
4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Channel Analysis
4.3.3. Downstream Buyer Analysis
Chapter 5. COVID 19 Impact on Green Power Market
5.1. COVID-19 Landscape: Green Power Industry Impact
5.2. COVID 19 - Impact Assessment for the Industry
5.3. COVID 19 Impact: Global Major Government Policy
5.4. Market Trends and Opportunities in the COVID-19 Landscape
Chapter 6. Market Dynamics Analysis and Trends
6.1. Market Dynamics
6.1.1. Market Drivers
6.1.2. Market Restraints
6.1.3. Market Opportunities
6.2. Porter’s Five Forces Analysis
6.2.1. Bargaining power of suppliers
6.2.2. Bargaining power of buyers
6.2.3. Threat of substitute
6.2.4. Threat of new entrants
6.2.5. Degree of competition
Chapter 7. Competitive Landscape
7.1.1. Company Market Share/Positioning Analysis
7.1.2. Key Strategies Adopted by Players
7.1.3. Vendor Landscape
7.1.3.1. List of Suppliers
7.1.3.2. List of Buyers
Chapter 8. Global Green Power Market, By Power
8.1. Green Power Market, by Power Type, 2022-2030
8.1.1. Wind Energy
8.1.1.1. Market Revenue and Forecast (2017-2030)
8.1.2. Solar Energy
8.1.2.1. Market Revenue and Forecast (2017-2030)
8.1.3. Geothermal Energy
8.1.3.1. Market Revenue and Forecast (2017-2030)
8.1.4. Hydropower
8.1.4.1. Market Revenue and Forecast (2017-2030)
8.1.5. Bioenergy
8.1.5.1. Market Revenue and Forecast (2017-2030)
Chapter 9. Global Green Power Market, By Application
9.1. Green Power Market, by Application, 2022-2030
9.1.1. Electricity generation
9.1.1.1. Market Revenue and Forecast (2017-2030)
9.1.2. Transportation
9.1.2.1. Market Revenue and Forecast (2017-2030)
9.1.3. Heating
9.1.3.1. Market Revenue and Forecast (2017-2030)
9.1.4. Others
9.1.4.1. Market Revenue and Forecast (2017-2030)
Chapter 10. Global Green Power Market, By End User
10.1. Green Power Market, by End User, 2022-2030
10.1.1. Utility
10.1.1.1. Market Revenue and Forecast (2017-2030)
10.1.2. Residential
10.1.2.1. Market Revenue and Forecast (2017-2030)
10.1.3. Industrial
10.1.3.1. Market Revenue and Forecast (2017-2030)
10.1.4. Commercial
10.1.4.1. Market Revenue and Forecast (2017-2030)
Chapter 11. Global Green Power Market, Regional Estimates and Trend Forecast
11.1. North America
11.1.1. Market Revenue and Forecast, by Power (2017-2030)
11.1.2. Market Revenue and Forecast, by Application (2017-2030)
11.1.3. Market Revenue and Forecast, by End User (2017-2030)
11.1.4. U.S.
11.1.4.1. Market Revenue and Forecast, by Power (2017-2030)
11.1.4.2. Market Revenue and Forecast, by Application (2017-2030)
11.1.4.3. Market Revenue and Forecast, by End User (2017-2030)
11.1.5. Rest of North America
11.1.5.1. Market Revenue and Forecast, by Power (2017-2030)
11.1.5.2. Market Revenue and Forecast, by Application (2017-2030)
11.1.5.3. Market Revenue and Forecast, by End User (2017-2030)
11.2. Europe
11.2.1. Market Revenue and Forecast, by Power (2017-2030)
11.2.2. Market Revenue and Forecast, by Application (2017-2030)
11.2.3. Market Revenue and Forecast, by End User (2017-2030)
11.2.4. UK
11.2.4.1. Market Revenue and Forecast, by Power (2017-2030)
11.2.4.2. Market Revenue and Forecast, by Application (2017-2030)
11.2.4.3. Market Revenue and Forecast, by End User (2017-2030)
11.2.5. Germany
11.2.5.1. Market Revenue and Forecast, by Power (2017-2030)
11.2.5.2. Market Revenue and Forecast, by Application (2017-2030)
11.2.5.3. Market Revenue and Forecast, by End User (2017-2030)
11.2.6. France
11.2.6.1. Market Revenue and Forecast, by Power (2017-2030)
11.2.6.2. Market Revenue and Forecast, by Application (2017-2030)
11.2.6.3. Market Revenue and Forecast, by End User (2017-2030)
11.2.7. Rest of Europe
11.2.7.1. Market Revenue and Forecast, by Power (2017-2030)
11.2.7.2. Market Revenue and Forecast, by Application (2017-2030)
11.2.7.3. Market Revenue and Forecast, by End User (2017-2030)
11.3. APAC
11.3.1. Market Revenue and Forecast, by Power (2017-2030)
11.3.2. Market Revenue and Forecast, by Application (2017-2030)
11.3.3. Market Revenue and Forecast, by End User (2017-2030)
11.3.4. India
11.3.4.1. Market Revenue and Forecast, by Power (2017-2030)
11.3.4.2. Market Revenue and Forecast, by Application (2017-2030)
11.3.4.3. Market Revenue and Forecast, by End User (2017-2030)
11.3.5. China
11.3.5.1. Market Revenue and Forecast, by Power (2017-2030)
11.3.5.2. Market Revenue and Forecast, by Application (2017-2030)
11.3.5.3. Market Revenue and Forecast, by End User (2017-2030)
11.3.6. Japan
11.3.6.1. Market Revenue and Forecast, by Power (2017-2030)
11.3.6.2. Market Revenue and Forecast, by Application (2017-2030)
11.3.6.3. Market Revenue and Forecast, by End User (2017-2030)
11.3.7. Rest of APAC
11.3.7.1. Market Revenue and Forecast, by Power (2017-2030)
11.3.7.2. Market Revenue and Forecast, by Application (2017-2030)
11.3.7.3. Market Revenue and Forecast, by End User (2017-2030)
11.4. MEA
11.4.1. Market Revenue and Forecast, by Power (2017-2030)
11.4.2. Market Revenue and Forecast, by Application (2017-2030)
11.4.3. Market Revenue and Forecast, by End User (2017-2030)
11.4.4. GCC
11.4.4.1. Market Revenue and Forecast, by Power (2017-2030)
11.4.4.2. Market Revenue and Forecast, by Application (2017-2030)
11.4.4.3. Market Revenue and Forecast, by End User (2017-2030)
11.4.5. North Africa
11.4.5.1. Market Revenue and Forecast, by Power (2017-2030)
11.4.5.2. Market Revenue and Forecast, by Application (2017-2030)
11.4.5.3. Market Revenue and Forecast, by End User (2017-2030)
11.4.6. South Africa
11.4.6.1. Market Revenue and Forecast, by Power (2017-2030)
11.4.6.2. Market Revenue and Forecast, by Application (2017-2030)
11.4.6.3. Market Revenue and Forecast, by End User (2017-2030)
11.4.7. Rest of MEA
11.4.7.1. Market Revenue and Forecast, by Power (2017-2030)
11.4.7.2. Market Revenue and Forecast, by Application (2017-2030)
11.4.7.3. Market Revenue and Forecast, by End User (2017-2030)
11.5. Latin America
11.5.1. Market Revenue and Forecast, by Power (2017-2030)
11.5.2. Market Revenue and Forecast, by Application (2017-2030)
11.5.3. Market Revenue and Forecast, by End User (2017-2030)
11.5.4. Brazil
11.5.4.1. Market Revenue and Forecast, by Power (2017-2030)
11.5.4.2. Market Revenue and Forecast, by Application (2017-2030)
11.5.4.3. Market Revenue and Forecast, by End User (2017-2030)
11.5.5. Rest of LATAM
11.5.5.1. Market Revenue and Forecast, by Power (2017-2030)
11.5.5.2. Market Revenue and Forecast, by Application (2017-2030)
11.5.5.3. Market Revenue and Forecast, by End User (2017-2030)
Chapter 12. Company Profiles
12.1. Adani group
12.1.1. Company Overview
12.1.2. Product Offerings
12.1.3. Financial Performance
12.1.4. Recent Initiatives
12.2. Enel Spa
12.2.1. Company Overview
12.2.2. Product Offerings
12.2.3. Financial Performance
12.2.4. Recent Initiatives
12.3. GE renewable energy
12.3.1. Company Overview
12.3.2. Product Offerings
12.3.3. Financial Performance
12.3.4. Recent Initiatives
12.4. Brookfield Renewable Corporation
12.4.1. Company Overview
12.4.2. Product Offerings
12.4.3. Financial Performance
12.4.4. Recent Initiatives
12.5. Siemens Gamesa renewable energy
12.5.1. Company Overview
12.5.2. Product Offerings
12.5.3. Financial Performance
12.5.4. Recent Initiatives
12.6. Tata power
12.6.1. Company Overview
12.6.2. Product Offerings
12.6.3. Financial Performance
12.6.4. Recent Initiatives
12.7. Vestas wind systems
12.7.1. Company Overview
12.7.2. Product Offerings
12.7.3. Financial Performance
12.7.4. Recent Initiatives
12.8. Iberdrola SA
12.8.1. Company Overview
12.8.2. Product Offerings
12.8.3. Financial Performance
12.8.4. Recent Initiatives
12.9. Jinko Solar Holding
12.9.1. Company Overview
12.9.2. Product Offerings
12.9.3. Financial Performance
12.9.4. Recent Initiatives
12.10. Next Era Energy
12.10.1. Company Overview
12.10.2. Product Offerings
12.10.3. Financial Performance
12.10.4. Recent Initiatives
12.11. Suzlon energy limited
12.11.1. Company Overview
12.11.2. Product Offerings
12.11.3. Financial Performance
12.11.4. Recent Initiatives
Chapter 13. Research Methodology
13.1. Primary Research
13.2. Secondary Research
13.3. Assumptions
Chapter 14. Appendix
14.1. About Us
14.2. Glossary of Terms
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