Renewable Energy Global Market – Highlights:-
The global renewable energy market research report focuses on the market analysis of alternative sources of energy that are used to generate electrical power for various end-user user industries such as chemicals & petrochemicals, utilities, and others. Demand for power is rising sharply as the industrialization and urbanization from the developing counties is increasing. Besides, the new era of energy is of renewable sources as these sources possess huge investment potential from major players and investments are showing profitable results. Investments in technological advancements in wind turbines and solar panels to increase their efficiency and are being installed at large scale. The conventional sources of energy are capable of generating huge amount of power and thus are preferred but, with recent governmental regulations, the use of these fuels are decreasing, thus paving way for renewable energy market. As per the study conducted by Market Research Future, the global market for renewable energy is likely to grow at the CAGR of around 8.17% during the forecasted period.
Top Key Player:-
- NextEra Energy
- GE Energy
- Vestas Wind System
- Atlantica Yield PLC
- Calpine Corporation
- Nordex SE
- Enercon GmbH
- Dong Energy
- Hydro-Quebec
- U.S. GEOTHERMAL INC.
- Trina solar
- Chevron Corporation
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Industry News
In May, 2018 – Mars, Australia has signed 20 year power-purchase agreements (PPA) with Total Eren to generate the equivalent of 100 percent of Mars’ electricity from renewable energy by 2020. Total Eren is developing and will build the Kiamal Solar Farm near Ouyen, Victoria which will be operational in mid-2019. The Mars PPAs will also facilitate the planned build of a second renewable project by Total Eren in New South Wales.
In May, 2018 – The wind energy giant player, Vestas, entered into a partnership with Swedish utility, Vattenfall, and Danish pension fund, PKA, for a 353 MW wind energy project in Sweden. For the project, which is PKA’s first investment in onshore wind, Vestas will provide 353 MW of V136-4.2 MW turbines as well as become a shareholder through a share purchase agreement for 40 percent of the project.
Global Renewable Energy Global Market – Segmentation
The scope of global renewable energy market is segmented into four 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 & Petrochemical
- Power generation
- Others
- By End-user
- Residential
- Commercial
- Industrial
- By Regions
- North America
- Europe
- Asia Pacific
- Rest of the World
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Renewable Energy Global Market – Competitive Analysis
The renewable energy industry is anticipated to expand sharply, thus having huge developments during the forecast period, owing to rising demand for power by growing industrialization & urbanization coupled with shifting focus to renewable sources over polluting conventional energy sources. For an instance, Germany has strict regulations for decreasing the emission of greenhouse gases and favours the renewable source of energy. The major players in Wind turbine manufacturing are headquartered in Germany like Siemens Gamesa and Nordex SE. This is creating huge competition in the renewable energy market and other players are chasing to lead the market. Asia Pacific and Europe regions are expected to dominate the renewable energy market due to huge renewable potential along with increasing projects in renewable energy sector
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