- Size, Trend, Share, Opportunity Analysis, and Forecast, 2014-2025
Global Renewable Energy Market is expected to grow at a CAGR of 11.5% from 2017 to 2025. Energy obtained from renewable resources, that is, the energy obtained from sources that can naturally replenish themselves on a timely basis is referred to as renewable energy. Renewable resources include tides, wind, sunlight, geothermal heat, waves, rain, biomass, and similar ones. The current trend in the global energy and power industry is to maximize the utilization of renewable energy for power generation and minimize the use of conventional fossil fuels. The dire need of the hour is to reduce the use of fossil fuels as much as possible to prevent further damage to the environment.
Based on the source, the renewable energy market is divided into wind, sunlight, oceanic (tides and thermal), biomass, and geothermal heat. According to type, the market is categorized into biofuels (solid, liquid, and gaseous), solar photovoltaic, wind energy (horizontal and vertical axis wind turbines), geothermal energy, and hydroelectric power. The solar photovoltaic market is divided into crystalline (monocrystalline and polycrystalline), amorphous, and others. Geothermal energy is further subdivided into dry steam, flash steam, and binary cycle. Based on application, the market is segmented into power generation, heating, and auto fuel. On the basis of end-use industry, the market is bifurcated across residential, commercial, healthcare, industrial, and transportation segments. Geographic breakdown and deep analysis of each of the aforesaid segments have resulted in the following regions: North America, Europe, Asia-Pacific, and LAMEA.
The top players in the global renewable energy market include Yingli Green Energy Hold. Co. Ltd., U.S. Geothermal Inc., Suntech Power Holding Co. Ltd, Trina Solar Ltd, Q-Cells SE, Hydro-Quebec, Amesa Corporacion Technologica SA, Enercon GmbH, Cosan SA Industria E Comercio., and Archer Daniels Midland Company.
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