Report Highlights
The global market for renewable energy is estimated to increase from $1.3 trillion in 2024 to reach $2.0 trillion by 2029, at a compound annual growth rate (CAGR) of 8.7% from 2024 through 2029.
Report Includes
- 93 data tables and 64 additional tables
- An analysis of the current and future global market for renewable energy (or green energy) technologies and coverage of the major sources of renewable energy as primary fuels
- Estimates of the market size and growth forecasts for the global market in value and volumetric terms, and a corresponding market share analysis by energy type, technology, application and region
- Facts and figures pertaining to the market dynamics, technological advances, regulations and standards, innovations, prospects, and the impact of macroeconomic factors
- Insights derived from the Porter’s Five Forces model, as well as global value/supply chain and PESTLE analyses
- Assessment of the impact of rising global demand for energy, climate change and the availability of new materials for the generation of renewable energy
- Patent analysis, emerging technologies/trends and new developments in the power generation industry
- Analysis of the industry structure, including companies’ market shares and global rankings, strategic alliances, M&A activity and a venture funding outlook
- Overview of sustainability trends and ESG developments, with emphasis on consumer attitudes, and the ESG scores and practices of leading companies
- Company profiles of major players within the industry, including Drax Group plc., GE Vernova, Jinko Solar, LONGi, and Siemens Gamesa Renewable Energy
Report Scope
This report analyzes the global renewable energy technologies market and its market dynamics. The market size has been provided in value ($ millions) and volume (gigawatts). It includes a discussion of the technological, competitive and economic trends affecting the market. This report covers the major renewable energy sources as primary fuels: hydroelectric, wind, solar, geothermal, ocean energy and bioenergy.
The report briefly covers renewable energy technologies and their sub-segments. The global market has been analyzed in terms of technology, application and region. The regional market has been further segmented based on technology and renewable energy installed capacity in 19 countries spanning five regions. It concludes with detailed profiles of 15 vendors operating in the global renewable energy technologies market. This report deals only with power generation through renewable resources and thus does not focus on other applications of renewable resources. It does, however, provide essential data on applications, such as heating and lighting.
Report Synopsis
| Report Metrics | Details | ||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Base year considered | 2023 | ||||||||||||||||
| Forecast period considered | 2024-2029 | ||||||||||||||||
| Base year market size | $1.25 trillion | ||||||||||||||||
| Market size forecast | $2.0 trillion | ||||||||||||||||
| Growth rate | CAGR of 8.7% for the forecast period of 2024-2029 | ||||||||||||||||
| Units considered | $ Millions | ||||||||||||||||
| Segments covered | Technology, Application, Region | ||||||||||||||||
| Regions covered | North America, Europe, Asia-Pacific, South America, Rest of the World | ||||||||||||||||
| Countries covered | China, India, Japan, Vietnam, Germany, Spain, Italy, Turkey, Russia, U.S., Canada, Mexico, Brazil, Chile, Venezuela, Iran, Egypt, South Africa, UAE | ||||||||||||||||
| Key Market Drivers |
|
||||||||||||||||
| Companies studied |
|
||||||||||||||||
Frequently Asked Questions (FAQs)
Analyst Credentials
BCC Research Team possesses expertise and experience in life and physical science domains. They specialize in offering valuable business insights, including industry analysis, competitor intelligence, strategic and financial analysis, and opportunity assessment. The team has in-depth knowledge of various sectors, including healthcare, biotechnology, pharmaceuticals, IT, automation, advanced materials, and energy. They are proficient in qualitative and quantitative market intelligence providing clients with actionable insights. With a vast understanding of the competitive landscape, the team can support clients in making data-driven decisions to help them achieve a competitive edge in their respective markets.
Report Highlights
The global renewable energy market should reach $1,500 billion by 2027 from $932.3 billion in 2022 at a compound annual growth rate (CAGR) of 10.0% for the forecast period of 2022 to 2027.
Report Highlights
The global market for renewable energy (excluding biofuels) should grow from $636.1 billion in 2018 to reach $855.2 billion by 2023 at a compound annual growth rate (CAGR) of 6.1% for the period of 2018-2023.
Report Highlights
In terms of revenue, the global renewable energy market (excluding biofuels) reached $432.7 billion in 2013 and $476.3 billion in 2014. This market is expected to increase to $777.6 billion in 2019, with a compound annual growth rate (CAGR) of 10.3% from 2014 to 2019.
Report Highlights
-
BCC Research projects continued capacity growth of renewable energy. The global renewable energy market is valued at $224 billion in 2010 and is expected to reach $331 billion by 2015, a compound annual growth rate (CAGR) of 8.1%.
-
Hydroelectric power contributes a significant percentage of global electricity. This sector is worth an estimated $62 billion in 2010 and is projected to reach nearly $74 billion in 2015, a compound annual growth rate (CAGR) of 3.5%.
-
Solar energy will experience the most dramatic growth over the forecast period. This sector is valued at $44 billion in 2010 and should reach $97 billion by 2015, a compound annual growth rate (CAGR) of 17%.
Report Highlights
-
The value of renewable energy projects worldwide was close to $22.3 billion in 2003 and is expected to rise at an average annual growth rate (AAGR) of 13.2% through 2008, to more than $41.4 billion.
-
in excess of 1.2 MW each and minimum wind farm capacities are 20 MW.
-
2008, an 8.9% AAGR, with revenues climbing to $10.6 billion.
-
increase to $6.0 billion in 2008.
Related Reports
Grid-Scale Electricity Storage Technologies: Global Markets
The global market for grid-scale electricity storage technologies is estimated to grow from $40.7 billion in 2024 to reach $151.2 billion by the end of 2029, at a compound annual growth rate (CAGR) of 30.0% from 2024 through 2029.
Global Bifacial Solar Market
This report provides an overview of the global bifacial solar market. It covers various region-specific developments in the industry. The report also assesses the bifacial solar market by type of panel, module and frame, along with installation and application. The report also profiles leading companies with information on product portfolios.
Solar Panel Recycling: Global Market
The global solar panel recycling market reached $238.7 million in 2022, should reach $360.9 million by 2023 and $1.7 billion by 2028 with a compound annual growth rate (CAGR) of 36.8% during the forecast period of 2023-2028.
Wind Turbines: Technologies, Applications and Global Markets
The global market for wind turbines is estimated to increase from $85.3 billion in 2022 to reach $116.6 billion by 2027, at a compound annual growth rate (CAGR) of 6.5% from 2022 through 2027.
Recent Reports
Renewable Energy: Technologies and Global Markets
The global market for renewable energy is estimated to increase from $1.3 trillion in 2024 to reach $2.0 trillion by 2029, at a compound annual growth rate (CAGR) of 8.7% from 2024 through 2029.
2024 Hydrogen and Ammonia Research Review
Research Reviews from BCC Research provide market professionals with concise market coverage within a specific research category. These Research Reviews include portions of several market research reports that were published in 2024.
Building-Integrated Photovoltaics (BIPV): Technologies and Global Markets
The global market for building integrated photovoltaic (BIPV) technologies is estimated to increase from $17.1 billion in 2024 to reach $42.0 billion by 2029, at a compound annual growth rate (CAGR) of 19.7% from 2024 through 2029.
Grid-Scale Electricity Storage Technologies: Global Markets
The global market for grid-scale electricity storage technologies is estimated to grow from $40.7 billion in 2024 to reach $151.2 billion by the end of 2029, at a compound annual growth rate (CAGR) of 30.0% from 2024 through 2029.
Carbon Capture, Utilization & Storage Technologies
The global market for carbon capture, utilization and storage (CCUS) technologies is expected to grow from $3.4 billion in 2024 and is projected to reach $9.6 billion by the end of 2029, at a compound annual growth rate (CAGR) of 23.1% during the forecast period of 2024 to 2029.
Top Trending Reports
Global Diabetic Care Devices Market
The global market for diabetes monitoring devices is expected to grow from $16.6 billion in 2024 to $26.8 billion by the end of 2029, at a compound annual growth rate (CAGR) of 10.1% from 2024 through 2029.
Carbon Capture, Utilization & Storage Technologies
The global market for carbon capture, utilization and storage (CCUS) technologies is expected to grow from $3.4 billion in 2024 and is projected to reach $9.6 billion by the end of 2029, at a compound annual growth rate (CAGR) of 23.1% during the forecast period of 2024 to 2029.
2024 Semiconductor Manufacturing Research Review
This 2024 Research Review of the Semiconductor Manufacturing provides a sampling of the type of quantitative market information, analysis, and guidance that BCC Research has been developing since its inception in 1971 to help its customers make informed business decisions.
Generative AI: Global Markets
The global market for generative AI was valued at $15.4 billion in 2023. It is projected to grow from $20.8 billion in 2024 to $94.4 billion by 2029, at a compound annual growth rate (CAGR) of 35.3% from 2024 through 2029.
2024 Medical Devices Research Review
The medical device industry is a multi-billion-dollar industry whose outlook is supposed to rise in the coming years These devices treat and diagnose a multitude of patient conditions and work much better than drugs.
Become A Member
BCC Research offers a comprehensive library of reports, granting members unlimited access to data, insights, and market intelligence for informed business decisions, while actively supporting members in their evolving journeys and prioritizing high-quality, relevant topics based on continuous engagement with the research community.
Find Out MoreCustom Consulting
BCC Research emphasizes the importance of organizations leveraging highly customized market insights aligned with specific strategic business objectives through direct engagement with primary sources and proprietary forecasting models for profitable decision-making in maximizing growth opportunities and minimizing risks.
Customize NowScorecard
The Venture Scorecard provides commercialization offices and decision makers with expert analysis, offering strategic insights crucial for aligning objectives with market realities at various stages of commercializing new products or evaluating investment opportunities, from opportunity assessment to growth planning.
Find Out MoreInnovation Spotlight
Our industry experts offer strategic guidance to maximize the market potential of commercialized products, patents, and IP by providing insights into market trends, competitive dynamics, and effective positioning, using the Innovation Spotlight service for enhanced exposure to thought leaders and the wider community.
Find Out More