Renewable Energy Market Size, Share, Growth Prospects, Key Opportunities, Trends and Forecasts to 2027

"Global Renewable Energy Market"

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 market for renewable energy is likely to grow at the CAGR of around 20%.

Renewed global pleas for clean and renewable energy sources have driven the demand for this sector as major players are foraying into this sector. The sector is finding huge demand from many sectors due to its free availability and it's limited to no impact level on environment. This particular demand trend is also further spurred on by the increase in the price fluctuations of natural energy resources, and their risk of getting depleted soon in the coming years citing increased demand. Population growth is also among one of the decisive factors affecting the demand for renewable energy sources. The factors that can slow down the sector include lack of R & D activities and preference of natural energy sources.

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Key Players

• Calpine Corporation,
• Enel Green Power,
• Vestas Wind Power A/S,
• Pelamis Wave Power
• Yingli Solar among others.

Global Renewable Energy Market – Competitive Analysis

With the entry of new industry players in the global renewable energy market segment, a trend of solid, volume-driven growth has been observed in the market with the addition of new and advanced products. Companies are aiming to capture & solidify their share of the market segment, by competing and experimenting with various advantage points. The best long-term growth opportunities for this sector can be captured by ensuring ongoing process improvements and financial flexibility to invest in the optimal strategies.

Some of the key players in the Renewable energy market are Calpine Corporation, Enel Green Power. Other notable players in this segment are Vestas Wind Power A/S, Pelamis Wave Power and Yingli Solar among others.

Industry News

In November, 2017 – GE Renewable Energy announced that it has now installed more than 60 gigawatts worth of onshore wind energy capacity across the globe, made up of over 35,000 wind turbines in 36 countries. GE Renewable Energy has now installed enough onshore wind energy capacity to power the equivalent of more than 15 million residential homes.

In November, 2017 – Enel Green Power North America completed construction of the 300 MW Rock Creek Wind Farm in Atchison County, Missouri. Rock Creek will produce enough energy to power approximately 100,000 Missouri homes and marks EGP-NA's first project in the state.

In June, 2017 – Yingli Green Energy Holding Company Ltd. YGE, one of the world's leading solar panel manufacturers, announced that, Tempress Systems B.V., part of the Amtech Group celebrated the opening of Europe's largest bifacial PV solar plant of close to 400 kilowatt-peak (kWp) capacity in the Netherlands, using n-type PANDA Bifacial modules manufactured by Yingli Solar. The plant is located next to the headquarters of Tempress in Vaassen, The Netherlands.

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About Market Research Future:

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