Renewed global pleas for clean and renewable energy sources have driven the demand for this sector as major players are foraying into this sector. The sector is finding huge demand from many sectors due to its free availability and it’s limited to no impact level on environment. This particular demand trend is also further spurred on by the increase in the price fluctuations of natural energy resources, and their risk of getting depleted soon in the coming years citing increased demand. Population growth is also among one of the decisive factors affecting the demand for renewable energy sources. The factors that can slow down the sector include lack of R & D activities and preference of natural energy sources.
The global outcry for renewable energy sources considering the environmental degradation and depleting renewable energy sources in recent times are some of the primary sources in the renewable energy market. Government regulations in favor of renewable energy sources and increasing demand for energy beckoning the usage of alternate energy sources is expected to drive the demand in the renewable energy market.
Industry Top Key Players:-
- Calpine Corporation
- Enel Green Power
- Vestas Wind Power A/S
- Pelamis Wave Power
- Yingli Solar
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Global Renewable Energy Market – Segments
The renewable energy market has been segmented on the basis of energy sources, application, end user and region.
On The Basis Of Energy Sources: Solar Energy, Wind Energy, Geothermal Energy, Bio Energy, Hydropower Energy and Others.
On The Basis Of Application: Automotive, Construction, Transportation and Chemical & Petrol Chemical among Others.
On The Basis Of End User: Residential, Commercial and Industrial.
On The Basis Of Region: North America, Europe, Asia-Pacific, Middle East and Africa and Latin America
Latest Industry News:
Dec 2017 Belgian retail giant Colruyt Group is gearing up to make a big investment in the renewable energy space in India and has lined up an investment of around Rs 800-1,000 crore for the next two years. They already have 1.5 GW of installed capacity of wind energy in Belgium and want to bring that capability and expertise to India. The group plans to set up a separate entity for its India renewable energy venture, which will also be headquartered in Hyderabad. Each wind project will have the capacity of around 30 to 50 MW.
Dec 2017 GE announced recently that it had received its largest renewable energy order in Thailand to build the three 90 megawatt clusters for the Theparak Wind farm in Central Thailand.GE Renewable Energy and GE Power have received an order to build and provide 270 megawatts (MW) of wind energy capacity for the Theparak Wind Farm in Central Thailand. Together, GE Renewable Energy and GE Power will provide 90 of its 3.0-137 wind turbines with hybrid towers measuring in at 156.5 meters, making them the tallest turbines the company has installed outside of Europe.
Regional Analysis of Renewable Energy Market:
The global renewable energy market is segmented into North America, Europe, APAC, and Rest of the World (RoW). North America is expected to dominate the Renewable Energy market mainly due to the favorable government regulations. The integration of renewable energy is expected to increase in the North American region providing the market with scope for further growth. Europe and Asia-Pacific are the other major regions for the Renewable Energy market due to boost in the manufacturing sector in these regions.
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- Renewable energy manufacturers
- Renewable energy Suppliers
- Research and Development (R&D) Companies