Global Renewable Power Generation Market is valued approximately at USD XX Million in 2020 and is anticipated to grow with a healthy growth rate of more than XX% over the forecast period 2021-2027. Growing awareness regarding environment degradation due to use of fossil fuel such as coal, for producing energy, is rising the need for renewable energy. Government initiatives for renewable energy generation, growing installation of renewable power projects and rising need for sustainable energy are growing demand for renewable power generation market. For instance, in July 2021, Sunseap Group announced to build the world’s largest floating solar farm in Indonesia. The floating photovoltaic system aimed to cover 1600 hectares and an investment of USD 2 billion is expected to have a capacity of 2.2 gigawatts. Furthermore, technological advancements in renewable power generation products by market players are expected to push the market towards further growth during forecast period. Such as, in July 2021, GE Renewable Energy, LM Wind Power and GE Research in partnership with the U.S. Department of Energy’s (DOE’s) National Renewable Energy Laboratory (NREL) launched the “Automated Blade Finishing” program in 2020. This program is aimed towards improving throughput, Environmental Health and Safety (EHS), and quality in wind turbine blade manufacturing. However, high cost of renewable power generation products and installation may hamper the growth during forecast period.
Asia Pacific is dominating the world market in terms of revenue among Asia Pacific, North America, Europe, Latin America, and Rest of the World. Also, Asia Pacific is expected to grow with the highest growth rate during forecast period, owing to growing demand for basic energy requirements due to growing population especially in China and India.
Major market player included in this report are:
The Tata Power Company Limited (Tata Power)
Xcel Energy Inc.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2018, 2019
Base year – 2020
Forecast period – 2021 to 2027.
Target Audience of the Global Renewable Power Generation Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers