New York, NY, March 12, 2021 (GLOBE NEWSWIRE) — Facts and Factors have published a new research report titled “Renewable Energy Market By Product Type (Bioenergy, Geothermal Energy, Hydroelectric Power, Solar Energy, and Wind Power), and By End-Use (Industrial, Commercial, Residential, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2020 – 2026” .
“According to the research report, the global Renewable Energy Market was estimated at USD 1089 Million in 2019 and is expected to reach USD 1911 Million by 2026. The global Renewable Energy Market is expected to grow at a compound annual growth rate (CAGR) of 8.3% from 2019 to 2026”.
The growth of the global renewable energy market is mainly attributed to increased emissions of greenhouse gases (GHGs) paired with the limited presence of fossil fuel on the earth. Further, advancement in technologies and rising government funding in renewable energy sectors are expected to offer new alluring opportunities for the market participant in years to come.
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Our Free Sample Report Includes:
- 2020 Updated Report Introduction, Overview, and In-depth industry analysis
- COVID-19 Pandemic Outbreak Impact Analysis Included
- 190+ Pages Research Report (Inclusion of Updated Research)
- Provide Chapter-wise guidance on Request
- 2020 Updated Regional Analysis with Graphical Representation of Size, Share & Trends
- Includes Updated List of table & figures
- Updated Report Includes Top Market Players with their Business Strategy, Sales Volume, and Revenue Analysis
- Facts and Factors research methodology
(Note: The sample of this report is updated with COVID-19 impact analysis before delivery)
Key Questions Answered in this Report
1) What was the impact of COVID-19 on the Renewable Energy Market?
2) What is the market size, share of the Renewable Energy Market?
3) Who are the top market players in Renewable Energy Market?
4) What will be the future market of the Renewable Energy Market?
- Market Size & Forecast by Revenue | 2020−2026
- Market Dynamics – Leading trends, growth drivers, restraints, and investment opportunities
- Market Segmentation – A detailed analysis by product, by types, end-user, applications, segments, and geography
- Competitive Landscape – Top key vendors and other prominent vendors
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Impact Analysis of COVID-19 Pandemic on Businesses: Know Short Term and Long Term Impact
Most of the businesses are facing a growing litany of business-critical concerns related to the coronavirus outbreak, including supply chain disruptions, a risk of a recession, and a potential drop in consumer spending. All these scenarios will play out differently across various regions and industries, making accurate and timely market research more essential than ever.
We at Facts and Factors ( http://www.fnfresearch.com ) understand how difficult it is for you to plan, strategize, or make business decisions, and as such, we have your back to support you in these uncertain times with our research insights. Our team of consultants, analysts, and experts has developed an analytical model tool for markets that helps us to assess the impact of the virus more effectively on the industrial markets. We are further implementing these insights into our reports for a better understanding of our clients.
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Renewable energy is becoming more appealing to investors as they need to fix the climate crisis by reducing carbon emissions becomes more widely understood. Renewables are predicted to replace coal as the world’s largest source of electricity generation by 2025, putting an end to coal’s five-decade reign as the most dominant energy source. Renewable technology has the potential to significantly reduce greenhouse gas emissions. Renewable energy can help to reduce the use of fossil fuels, which are the main source of carbon dioxide emissions in the United States. Renewable energy usage in the United States is expected to grow through 2050, according to the US Energy Information Administration. In 2019, the electric power market accounted for about 56% of total renewable energy demand in the United States, and renewable energy sources accounted for about 17% of total electricity production. Renewable energy patterns are quickly evolving, and large businesses are focused on producing energy from a variety of sources. Solar and wind power are two of the most important renewable energy sources. Other renewable energy sources such as ocean energy, biomass, and geothermal have gained prominence. Many major corporations are now focusing on geothermal energy, which has a number of advantages. These are the major factors predicted to propel the growth of renewable energy in years to come.
Industry Major Market Players
- General Electric
- Vestas Wind Systems A/S
- UpWind Solutions Inc.
- Senvion S.A.
- Sinovel Wind Group Co. Ltd.
- Xcel Energy Inc.
- ENERCON GmbH
- ABB Ltd.
- Tata Power Company Limited
- Geronimo Energy
- Enel Spa.
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Global Renewable Energy Market: Overview
Renewable energy, also known as renewable energy, is generated from sustainable materials or processes that are depleted on a regular basis. Renewable energy is energy extracted from renewable resources that are primarily found on a human timescale. In comparison to fossil fuels, which are depleted much faster than they are replenished, this form of energy supply is renewable. In comparison to other sources of energy, which are centralized in a small number of countries, renewable energy resources and substantial opportunities for energy promote efficiency across a large geographical region.
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Global Renewable Energy Market: Growth Factors
Leading to excessive emissions of greenhouse gases (GHGs), especially CO2, caused by the use of fossil energy for energy production, the global renewable energy demand is anticipated to develop significantly during the forecast period. Furthermore, the renewable energy industry is fuelled by the limited supply of fossil fuels on the planet, as well as their unpredictable costs. Renewable energy generation, on the other hand, necessitates a major expenditure. During the forecast period, this factor is expected to limit the market growth. Moreover, in the Middle East, fossil fuels are mainly used to produce electricity because they are less costly than in other areas. The market’s growth is slowed as a result of this. Continuous technological advancements and increased government investment in the renewable energy sector, on the other hand, would provide significant growth opportunities during the evaluation timeframe. The scale of the renewable energy market is rising as government policies on climate change become more stringent in both developed and emerging economies.
Global Renewable Energy Market: Segmentation
Hydroelectric power is a renewable resource that uses the energy of water flowing from higher to higher elevations to produce electricity. Hydropower production of renewable electricity is the largest gain from a renewable resource in 2019. Because of their usage in the electricity market, production capacity for renewables is projected to grow. Low operating expenses and priority grid connections in many markets enable renewables to function at near full capacity, allowing a renewable generation to expand even as end-use energy consumption falls due to lockdown steps.
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Asia Pacific Region Projected To Dominate Global Renewable Energy Market Growth
Regionally, the global market for renewable energy is significantly segmented into Latin America, Middle East, and Africa, North America, and Europe. Due to mandates issued by governments of several countries to reduce greenhouse gas emissions, Asia Pacific currently dominates the global market for renewable energy. The rise in industrialization paired with population growth in countries such as China, India, and the Southeast Asia region is also estimated to support the growth of the renewable energy market in the Asia Pacific region considerably. Due to advances in technology and the availability of new sources of energy across the region, Europe is projected to be the second-largest market for renewable energy.
Browse the full “Renewable Energy Market By Product Type (Bioenergy, Geothermal Energy, Hydroelectric Power, Solar Energy, and Wind Power), and By End-Use (Industrial, Commercial, Residential, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2020 – 2026” report at https://www.fnfresearch.com/renewable-energy-market
The global Renewable Energy market is segmented as follows:
- Hydroelectric Power
- Wind Power Energy
- Solar Energy
- Geothermal Energy
By End User:
KEY REPORT POINTERS & HIGHLIGHTS:
- Statistically Validated Analysis of Historical, Current, and Projected Industry Trends with Authenticated Market Sizes Information and Data in terms of Value and Volume, wherever applicable
- Direct and Indirect Factors that Impacted the Industry as well Projected Rationales expected to affect the industry going forward
- Micro, Meso, Macro, and In-Depth Analysis of Technically relevant and Commercially viable Segments and Sub-segments of the Market
- Historical and Projected Company / Vendor / OEM / Supplier Market Shares, Competitive Landscape, and Player Positioning Data
- Historical and Current Demand (Consumption) and Supply (Production) Scenarios as well as Projected Supply-Demand Scenario Analysis
- Detailed List of Key Buyers and End-Users (Consumers) analyzed as per Regions and Applications
- Value Chain and Supply Chain Analysis along with Horizontal and Vertical Integration Scenarios
- Manufacturing and Production Cost Structure Analysis including Labor Cost, Raw Material Expenses, and Other Manufacturing Expenses, wherever relevant
- Overview of Key Marketing Strategies and Key Sales Channels Adopted in the Market
- Market Attractiveness Analysis and Key Investment Opportunity Analysis in the Market going forward
- Technological Roadmap, Patents Analysis, Potential Substitutes, and Technical Analysis
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