USD 976.50 billion
Green Energy Market Size, Share, Growth Analysis, By Type(Solar energy, Geothermal energy, Hydroelectric power, Bioenergy), By End-user(Commercial, Residential, Industrial, and Others), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG20C2086 |
Region:
Global |
Published Date: April, 2024
Pages:
202
|Tables:
66
|Figures:
64
Green Energy Market Insights
Global Green Energy market size was valued at USD 976.50 billion in 2022 and is poised to grow from USD 1059.50 billion in 2023 to USD 2034.89 billion by 2031, growing at a CAGR of 8.5% in the forecast period (2024-2031).
Green energy harnesses power from renewable natural resources such as wind, geothermal sources, solar radiation, hydroelectricity, and biomass. It distinguishes itself by its adherence to environmental friendliness, ensuring minimal to no adverse impact on the environment and steering clear of pollution. While the terms "green energy" and "renewable energy" often seem interchangeable, there exists a nuanced disparity between the two. Renewable energy encompasses sources derived from organic materials, yet not all of these fall under the category of green energy.
For instance, energy generated through organic materials qualifies as renewable energy but might not align with green energy standards due to the emission of carbon dioxide during combustion—a pollutant that doesn't meet the eco-friendly criteria essential for green energy classification. This distinction underscores the importance of environmental considerations in defining green energy amid the broader scope of renewable energy sources.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Hydroelectric Power
Fastest Growth
Growth Rate
8.5% CAGR
Global Green Energy Market ($ Bn)
Country Share for North America Region (%)
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Green Energy Market Segmental Analysis
Global green energy market is segmented on the basis of type, end-user and region. Based on type, the global market is segmented into solar energy, geothermal energy, hydroelectric power, bioenergy, and wind power. Based on end-user, the global market is segmented into commercial, residential, industrial, and others. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Analysis by End-User
The commercial sector plays a pivotal role in shaping and driving the green energy market forward. As businesses increasingly prioritize sustainability and environmental responsibility, there's a notable shift towards integrating green energy solutions into commercial operations. Companies across various industries are actively embracing renewable energy sources like solar, wind, and hydroelectric power to meet their energy needs.
The residential sector is poised to become a primary revenue generator, fueled by the increasing adoption of solar and wind energy, even at a smaller scale, within households. This shift towards renewable energy sources has propelled the residential sector's significance in revenue generation. Simultaneously, the market has witnessed the emergence of numerous manufacturers specializing in energy generators tailored for home devices. This influx of diverse options for generating energy at a domestic level has bolstered the sector's potential for revenue generation.
Analysis by Type
Bioenergy plays a vital role in the global green energy market as a versatile and renewable energy source derived from organic materials. This sustainable form of energy harnesses the power generated from biomass, including organic waste, agricultural residues, forestry by-products, and dedicated energy crops. Bioenergy encompasses various applications, including biofuels for transportation, biogas for electricity and heat production, and biomass for heating and cooking purposes. Its versatility lies in its ability to be used across multiple sectors, offering an accessible and reliable alternative to fossil fuels.
The hydroelectric power segment reigned supreme within the global market, and this dominance is anticipated to persist throughout the forecast period. The stronghold of hydroelectric power stems from its extensive and versatile application across multiple sectors. Its wide-ranging usability, spanning various industries, positions hydroelectric power as a pivotal and enduring component within the global market landscape.
Global Green Energy Market By Type
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Green Energy Market Regional Insights
North America plays a crucial role in shaping the global green energy market due to several key factors. The region boasts a strong emphasis on technological innovation and research, fostering a robust landscape for renewable energy development and implementation. With a growing awareness of climate change and environmental sustainability, there's a significant push towards reducing reliance on fossil fuels.
The Asia Pacific is poised to emerge as a dominant force in the global green energy market, driven by several key factors. The region's burgeoning population, rapid urbanization, and robust industrial growth have collectively heightened energy consumption, resulting in adverse climatic changes. This escalating environmental impact has placed considerable pressure on governments to intervene and implement necessary measures. Consequently, there's a growing emphasis on adopting green energy solutions wherever feasible, aiming to curb the environmental repercussions of increased energy usage.
Global Green Energy Market By Region
- Largest
- Fastest
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Green Energy Market Dynamics
Drivers
Increasing Pressure on Industries to Opt for Green Energy Will Aid Growth
- The relentless pursuit of commercial, industrial, and urban advancements has propelled us into an era of unparalleled technological progress, but it hasn't come without a significant toll on the environment. As we grapple with the consequences of these strides, there's a widespread global push towards sustainable modes of progress. Regional governments, private investors, and prominent environmental agencies such as UNEP, IEA, and UN are spearheading large-scale discussions and initiatives focused on sustainability. This collective effort has catalyzed a fundamental shift in the mindset of producers and manufacturers, compelling them to explore clean energy sources. Recognizing that uninterrupted energy flow is foundational to any operation, businesses are increasingly integrating green energy wherever feasible. Consequently, there's a surge in extensive research and development endeavors directed at creating and harnessing green energy for broader application, marking a pivotal transition toward more environmentally conscious practices in the pursuit of progress.
Restraints
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Green Energy Market Competitive Landscape
The competitive environment of the Global Green Energy Market is dynamic and characterized by the presence of a mix of well-established brands, emerging players, and niche producers. Innovation is a key competitive factor. Leading brands invest in research and development to introduce new flavors, packaging formats, and health-focused variations to cater to changing consumer preferences. They often set the trends in the industry.
Top Player’s Company Profiles
- Beijing MecKey Engineering Co.
- Bosida Machinery
- Mukul Engineering Works
- Dipesh Engineering Works
- Sri Ram Engineering & Fabrication Works
- Ilshin Autoclave Co. Ltd.
- AdEdge Water Technologies, LLC
- DSSE, Universal Process Engineers
- Raj Process Equipment and Systems Pvt. Ltd.
Recent Developments
- In April 2024, the Adani Group has announced plans to invest approximately Rs 2.3 trillion by 2030, marking India's most ambitious expansion in renewable energy and capacity addition for solar and wind manufacturing. Despite facing a short-seller attack, the group remains committed to its trademark rapid growth strategies.
- In April 2024, NTPC's share price surged by 3%, reaching a 52-week high during Friday's trading session. The rise came in response to news that its wholly owned subsidiary, NTPC Green Energy, has enlisted four investment banks to manage its upcoming initial public offering (IPO), valued at ₹10,000 crore, as reported by Moneycontrol. This IPO would mark the largest offering by a state-owned company since the Life Insurance Corporation of India's share sale in 2022. On the Bombay Stock Exchange (BSE), NTPC's share price opened at ₹363.10 per share. Throughout the day, the stock reached an intraday high of ₹374.50 and a low of ₹363.
- In April 2024, Juniper Green Energy proudly announced the completion of its inaugural wind power project, adding 70 MW to Gujarat's renewable energy capacity. As of now, 25.2 MW is already operational, marking a significant milestone in the project's phased implementation. Impressively, the project was commissioned nearly nine months ahead of its scheduled Commercial Operation Date (COD).
Green Energy Key Market Trends
- The surge in population growth correlates with a heightened demand for smart, energy-efficient devices. Yet, a wave of initiatives led by educational institutions, government projects, and environmental organizations—both domestic and international—has catalyzed a paradigm shift in public perception regarding environmental well-being. This evolving perspective has triggered a notable change in consumer preferences, sparking increased demand for sustainable energy sources across various spectrums, from larger vehicles to even smaller home electric appliances.
Green Energy Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyzes the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research. Green energy distinguishes itself by its replenishment from natural sources, standing in contrast to energy derived from fossil fuels such as coal or natural gas. The generation of green energy deliberately sidesteps processes that might harm ecosystems, diverging from activities such as mining or drilling associated with conventional energy sources. Considered the most sustainable form of energy, greenhouse energy exhibits a notably lower emission of harmful gasses throughout its entire lifecycle compared to energy generated from fossil fuels. This characteristic not only benefits the environment by reducing carbon emissions but also significantly bolsters the overall health of the populace.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 976.50 billion |
| Market size value in 2031 | USD 2034.89 billion |
| Growth Rate | 8.5% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Green Energy Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Green Energy Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Green Energy Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Green Energy Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Green Energy Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Green Energy Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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