Global Green Power Market Size By Power (Wind Energy, Solar Energy, Geothermal Energy, Hydropower, and Bioenergy), By Application(Electricity generation, Transportation And Heating), By End User (Utility, Residential, Industrial, and Commercial), By Geographic Scope And Forecast

Green Power Market Size And Forecast

Green Power Market size was valued at USD 46.74 Billion in 2021 and is projected to reach USD 117.77 Billion by 2030, growing at a CAGR of 11.32% from 2023 to 2030.

Green Power Market has noticed tremendous growth in the previous few years due to the rise in industries in developing economies, the increase in stringent government regulations toward greenhouse gas emissions across the globe, and the surge in favorable policies in developed and expanding economies for the Green Power sector. The Global Green Power Market report provides a holistic market evaluation. The report proposes a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that play a significant role in the market.

Global Green Power Market Definition

Green power sources are defined as zero-emission energy sources. Green energy sources do not produce additional carbon dioxide or other greenhouse gases during power generation. Green energy sources are environmentally friendly from an emissions standpoint, though if the need for these sources is too high, their overuse could result in other environmental harm.

Overusing some green energy sources, such as solar power, can result in habitat loss due to surplus water usage and the development of sprawling ‘energy farms.’ For thermal energy, problems may occur when additional energy is obtained through drilling into the earth. Although some aspects of green energy may be considered drawbacks, these sources are far less harmful to the environment than traditional energy sources. Both Green Power and renewable energy fall under the umbrella of alternative energy – which can be described as energy from sources other than fossil fuels. Yet, not every renewable energy source is a green energy source.

Global Green Power Market Overview

Green Power describes a low-cost solution for energy demands across the globe. The accessibility of green energy and its low cost makes it a more suitable option for developing nations. Depending on the region’s topography, green energy can substitute fossil fuels in the future. It is a clean source of energy. It is not just good for the earth but also for the health of the people and animals as they have pure air for breathing. Green Power is a stable energy power that may not have a lot of cost fluctuations due to geopolitical crises or supply chain disruptions. To meet the net zero emissions target, numerous jobs are created worldwide in this sector.

The growing global population and rapid urbanization lead to the rising need for electricity generation. This illustrates one of the key factors positively influencing the market. The increasing construction of commercial and residential buildings and the expansion of various industries are driving the consumption of electricity, which is driving market growth. Apart from this, the rising awareness among the masses about Green Power ‘s health and environmental blessings is creating a positive market outlook. The shifting consumer preference toward electric vehicles (EVs) also contributes to market expansion. EVs eradicate tailpipe emissions, minimize dependence on fossil fuels, improve community health, safeguard energy security, and improve employment and upskilling. This, in turn, is catalyzing the market for naturally replenished Green Power sources. The rapid electrification of the transportation and industrial sectors and the expansion of the electrical value chain in the oil and gas industry are stimulating market growth.

Furthermore, rising government initiatives to install renewable energy sources offer manufacturers lucrative growth opportunities. Additionally, governments of various countries are managing awareness campaigns to educate individuals about the availability of Green Power sources. Moreover, numerous innovations and advantages associated with renewable energy result in faster energy transition, thus bolstering the Green Power industry. However, the factor expected to inhibit the market’s growth is the need for environmental awareness and many entry barriers for new entrants. In addition, more unbundling of revenue-cycle services may help the market.

Global Green Power MarketSegmentation Analysis

The Global Green Power Market is Segmented on the basis of Power, Application, End-user, And Geography.

Green Power Market, By Power

• Wind Energy
• Solar Energy
• Geothermal Energy
• Hydropower
• Bioenergy

Based on the Power, the market is divided into Wind Energy, Solar Energy, Geothermal Energy, Hydropower, and Bioenergy. The hydropower segment is anticipated to hold the largest market share of the Green Power Market. In the process of generating electricity, with the help of hydropower the fast running water, the falling water is used. The Solar Energy segment is also expected to grow during the projection period. These projects are expected to grow due to the efficiency that it delivers. Besides, solar modules are cost-effective, and they are expanding.

Green Power Market, By Application

• Electricity generation
• Transportation
• Heating
• Others

Based on the Application, the market is divided into Electricity generation, Transportation, Heating, and Others. The application of Green Power and electricity generation is made in transportation using minimum natural and limited resources like fossil fuels. Segments contain biofuels, solar heating, geothermal heating, heat pumps, and heat exchangers. Many countries are predicted to consume more energy from the heating application than electrical power. The heating transportation segment allows for diversified urban transportation, which is convenient, efficient, causes less pollution, and is safe. The transport segment is anticipated to grow during the forecast. Many renewable energy sources are installed due to the different government initiatives worldwide.

Green Power Market, By End User

• Utility
• Residential
• Industrial
• Commercial

Based on the End User, the market is divided into Utility, Residential, Industrial, and Commercial. The Utility segment provides a higher market share due to growing per capita income. With increasing concerns for climatic change, rising population, better connectivity, and growing urbanization, the utility segment is anticipated to grow during the forecast period.

Green Power Market, By Geography

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

On the basis of Geography, the Green Power Market is classified into North America, Asia Pacific, Europe, Latin America, the Middle East, and Africa. The Asia Pacific region is expected to hold the largest Global Green Power Market share. The Green Power market in the Asia-Pacific region is also driven by the increase in the Green Power Market, especially in China. Moreover, the growth in the Green Power market, as per BP Statistical Review of World Energy 2020, was primarily driven by China, as the Green Power sector saw tremendous growth in the country. In addition, several countries in the Europe region, such as Sweden, Denmark, Scotland, and Germany, are close to their targets of switching to green sources and are ranked in the top eleven countries leading the change, as per the Climate Council of Australia.

Key Players

The “Global Green Power Market” study report will provide valuable insight with an emphasis on the global market including some of the major players such as Adani Green Energy Limited, GE Renewable Energy, Iberdrola SA, JinkoSolar Holding Co. Ltd., NextEra Energy, Inc., Orsted A/S, Siemens Gamesa Renewable Energy, Suzlon Energy Limited, Tata Power, and others.

Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide an insight into the financial statements of all the major players, along with product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players globally.

Key Developments

• In 2021, Amazon announced its first investment in Canada, a corporate purchaser of renewable energy worldwide. Greengate Power Corp of Calgary has set up a unique solar project in newell county, and Amazon will acquire electricity from this solar project.

Ace Matrix Analysis

The Ace Matrix provided in the report would help to understand how the major key players involved in this industry are performing as we provide a ranking for these companies based on various factors such as service features & innovations, scalability, innovation of services, industry coverage, industry reach, and growth roadmap. Based on these factors, we rank the companies into four categories as Active, Cutting Edge, Emerging, and Innovators.

Market Attractiveness

The image of market attractiveness provided would further help to get information about the region that is majorly leading in the Green Power Market. We cover the major impacting factors that are responsible for driving the industry growth in the given region.

Porter’s Five Forces

The image provided would further help to get information about Porter’s five forces framework providing a blueprint for understanding the behavior of competitors and a player’s strategic positioning in the respective industry. The porter’s five forces model can be used to assess the competitive landscape in Global Green Power Market gauge the attractiveness of a certain sector, and assess investment possibilities.

Report Scope

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Research Methodology of Market Research

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Reasons to Purchase this Report

• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors• Provision of market value (USD Billion) data for each segment and sub-segment• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled• Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players• The current as well as the future market outlook of the industry with respect to recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions• Includes in-depth analysis of the market of various perspectives through Porter’s five forces analysis• Provides insight into the market through Value Chain• Market dynamics scenario, along with growth opportun