Renewable Energy Systems Market, By Type (Ocean Energy, Hydropower, Bioenergy, Geothermal Power & He

Published Date: | Report Code : EP1944443

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Renewable Energy Systems Market is projected to register high demand during the forecast period with increasing demand from major end-use industries such as residential, commercial, and industrial during the forecast period. There is a high need for renewable energy due to increasing environmental concerns regarding the impact of fossil fuels, including greenhouse emissions, environmental degradation, climate change, etc.

In 2017, 70% of net additions to the global power generating capacity was of renewable power sources. However, global energy-related carbon emissions rose by 1.4% after 3 years of being constant. This increase in carbon emissions can be attributed to the vigorous growth of the global economy, low prices of fossil fuels, and weak efforts to increase the efficiency of energy sources. The demand for renewable energy is on the rise due to stringent government regulations and a deteriorating environment.

Segment Analysis

Main segments where there is high demand for renewable energy systems are heating & cooling, transportation, and power generation.

The growing popularity of electric vehicles is also propelling market growth.

Europe is expected to witness the highest market growth, as governments of countries of Europe and the European Union are aiming at reducing greenhouse emissions.

Key Factors Impacting Market Growth:

  • Increasing greenhouse emissions, environmental degradation, and climate change
  • Stringent government regulations and growing environmental awareness
  • Adoption of electric vehicles
  • Technological advancements, and increasing research and development in the field of renewable energy

Key Developments:

  • The Company Innergex announced on February 6th 2018 that it will acquire a company called Alterra Power Corp. for USD1.1 Billion and it immediately increases their capacity by 485MW.
  • Palau, a Pacific Island nation and the 13th smallest country in the world has committed to build the worlds largest microgrid with 35 MW of solar panels paired with 45MWh of energy storage.
  • The first renewable energy tender in India was won by Enel thorough its subsidiary BLP Energy Private Limited. They are expected to invest $290 Billion in the construction of the wind farm which is expected to start its operations in the later half of 2019 and is expected to generate 1000GWh of renewable energy

Regional Outlook:

The regional outlook for renewable energy systems market provides detailed information for markets including North America, Western Europe, Eastern Europe, Asia Pacific, Middle East, and Rest of the World. North America and Western Europe are estimated to be key regions for renewable energy systems market during the forecast period. Being one of the industrialized regions, the energy & power sector is key to the operations of various industries in this region. This is one of the important factors governing the growth of renewable energy systems market in these regions. Some of the major countries covered in this region include US, Germany, UK, France, Italy, Canada, and so on.

Asia Pacific is estimated one of the fastest growing regions for renewable energy systems market during the forecast period. Some of the fastest growing economies and increasing demand for energy & power to cater high population & industries is expected to drive the demand in this region. China and India are projected to register major demand during the forecast period. Middle East that includes UAE, Saudi Arabia, Iran, Qatar, and others promises high market potential during the forecast period. Rest of the World including South America and Africa are emerging regions in terms of market demand during the forecast period.

Companies Covered: General Electric, Ocean Power Technologies, NextEra Energy Inc., ABB Ltd., Tata Power Company Ltd., Innergex, Vestas Wind Systems, Enel Spa, Xcel Energy Inc., Geronimo Energy, Enercon GmbH, SynTech Bioenergy LLC., and Upwind Solutions

Market Segmentation:

By Type:

  • Ocean Energy
  • Hydropower
  • Bioenergy
  • Geothermal Power and Heat
  • Solar Photovoltaics
  • Concentrating Solar Thermal Power
  • Solar Thermal Heating and Cooling
  • Wind Power

By End User:

  • Residential
  • Commercial
  • Industrial
  • Others

By Region:

  • North America
    • By Country (US, Canada, Mexico)
    • By Type
    • By End User
  • Eastern Europe:
    • By Country (Russia, Turkey, Rest of Eastern Europe)
    • By Type
    • By End User
  • Western Europe:
    • By Country (Germany, UK, France, Italy, Spain, Rest of Western Europe)
    • By Type
    • By End User
  • Middle East:
    • By Country (UAE, Qatar, Iran, Saudi Arabia, Rest of Middle East)
    • By Type
    • By End User
  • Asia Pacific
    • By Country (China, Japan, India, South Korea, Australia, Rest of Asia Pacific)
    • By Type
    • By End User
  • Rest of the World
    • By Region (South America, Africa)
    • By Type
    • By End User

 Reasons To Buy This Report:

  • Market size estimation of the renewable energy systems market on a regional and global basis
  • The unique research design for market size estimation and forecast
  • Profiling of major companies operating in the market with key developments
  • Broad scope to cover all the possible segments helping every stakeholder in the market

Customization:

We provide customization of the study to meet specific requirements:

  • By Segment
  • By Sub-segment
  • By Region/Country

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