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The Global Renewable Energy Market size was valued at around USD 995.28 billion in 2023 and would grow at a CAGR of around 8.96% during the forecast period 2025-30.<br>
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Global Renewable Energy Market Research Report: Forecast (2025-2030) • GET SAMPLE REPORT • MARKNTEL ADVISORS
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Market Insights The Global Renewable Energy Market size was valued at around USD 995.28 billion in 2023 and would grow at a CAGR of around 8.96% during the forecast period, i.e., 2025-30. The rapid growth of the market is attributed to increased research & development for the advancement of renewable systems & infrastructure, along with the strategic initiatives launched by national governments across the globe. The technological enhancements made by the players in the renewable energy market for better integration of renewable systems across residential, commercial, and industrial sectors are also key to the growth of the market.
Market Drivers Rising Energy Security Concerns to Drive Market Growth – In today’s world, being energy-dependent is a serious threat to the nation’s economy. The conventional energy sources being limited to some parts of the globe disturbed the balance of power & income between nations. Therefore, a crucial need for upgrading and transitioning to new energy sources arose. Nations with low reserves of fossil fuels have been the first to deploy renewable energy in their existing power grids. Countries such as China and India have rapidly increased the share of renewables, especially solar, in their energy mix, helping in the steady addition of global renewable energy capacity each year. As per the IEA, in 2023 alone, approximately 510 GW was added to the existing capacity, which is estimated to be an increase of about 50% in contrast with that of 2022. For this, the countries have extended support to the private players in terms of policy support, financial support, etc., which has been fueling the market size & volume of renewable energy globally.
Market Segments Renewable Energy Market Report - By Source (Solar, Wind, Hydro, Others (Biomass, geothermal, etc.)), By End User (Residential, Commercial, Industrial), and Other
Top Companies Iberdrola, Siemens Gamesa, Ørsted A/S, NextEra Energy, Inc., EDf Renewable, General Electric, Vestas, Acciona, S.A., Canadian Solar, Enel Green Power SpA, Lightsource BP, Adani Green Energy Ltd., Tata Power Renewables, Enterprize Energy, JSW Energy, and others
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MarkNtel Advisors Target Geographies- Focus Areas • MarkNtel has strategically defined its target areas which are based on evaluation by its analysts after analysing the growth potential of various regions. Few of those parameters include: • -Political, Economic, Social, Technological and Environmental Analysis • -Credit Ratings provided by leading institutions • -GDP projections by bodies such as the World Bank, IMF, OECD, etc. • -Market Disruptions and the “Next Big Things”
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