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.
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
Renewable Energy Global Market – Segmentation
The scope of Global Renewable Energy Market is segmented into two major segments which are explained below:
- Solar Energy
- Wind Energy
- Geothermal Energy
- Bio Energy
- Hydropower Energy
- Chemical & Petrol-Chemical
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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About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.
In order to stay updated with technology and work process of the industry, MRFR often plans & conducts meet with the industry experts and industrial visits for its research analyst members.
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