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Renewable Energy Market Research Report, Types, Technology, Application and Region Forecast to 2027

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Market Overview

Renewable energy is generated from sources that are replenished naturally, such as hydro, solar, geothermal, and wind, unlike non-renewable sources of energy such as coal and other fossil fuels. Generation and usage of conventional sources of energy is expensive and damaging to the environment, leading to a rise in demand for renewable energy.

According to the latest report published by Market Research Future (MRFR), the global renewable energy market is estimated to showcase an 8.90% CAGR during the forecast period. Key factors driving the renewable energy market include a rising demand for energy, as well as, favorable government initiatives, and better economies of scale are driving the global Renewable Energy Market.

Furthermore, increased awareness towards carbon emission and its contribution to climate change has influenced the adoption of clean energy sources over non-renewable energy sources. Solar energy is deemed to be the best alternative to fossil fuel-based energy resources such as coal and natural gas, and also helps in the reduction of carbon emission, by effectively meeting electrical needs.

Key Players:

MRFR in its report has profiled companies such as Ørsted A/S, NextEra Energy, Inc., On Power, Tocardo BV, Vestas Wind Systems A/S, Canadian Solar Inc., Ocean Power Technologies, Inc., Enel Spa, SynTech Bioenergy LLC, General Electric, Yingli Solar, and Siemens AG.

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Segmentation:

The global renewable energy market is segmented on the basis of type, end use, and region.

By type, the global renewable energy market is segmented into hydropower, wind energy, solar energy, bioenergy, geothermal energy, and ocean energy. Hydropower accounted for more than 26% of the global renewable energy market in 2019 and is expected to grow at a CAGR of 11.02% over the forecast period, retaining its dominance in the global renewable energy market.

By end use, the global renewable energy market is segmented into industrial, residential, and commercial. Industrial end use accounts for the highest share in the global renewable energy market, with the chemicals and petrochemicals segment accounting for the largest share of 19.7% within the industrial end use segment in 2019.

Regional Analysis:

Asia Pacific is likely to hold the largest share in the global renewable energy market over the forecast period due to the growing demand for renewable energy projects in countries such as China, India, Thailand, and Vietnam. The increasing urban population in Asia Pacific has been a key driver for the renewable energy market in the region, as the growing consumer population has driven the demand for electricity, thus raising the demand for renewable power. Governments in this region have also played a key supportive role in the development of the renewable energy market in this region, as several governments have come up with renewable energy goals and targets for the next few decades, setting out detailed plans for increasing the share of renewable energy in the country’s overall power generation scenario.

Get Complete Report @ https://www.marketresearchfuture.com/reports/renewable-energy-market-1515

Table of Content:

Chapter 1: Renewable Energy Market Overview

Chapter 2: Global Economic Impact on Industry

Chapter 3: Renewable Energy Market Competition by Manufacturers

Chapter 4: Global Production, Revenue (Value) by Region

Chapter 5: Global Supply (Production), Consumption, Export, Import by Regions

Chapter 6: Global Production, Revenue (Value), Price Trend by Type

Chapter 7: Global Market Analysis by Application

Chapter 8: Manufacturing Cost Analysis

Chapter 9: Industrial Chain, Sourcing Strategy and Downstream Buyers

Chapter 10: Marketing Strategy Analysis, Distributors/Traders

Chapter 11: Renewable Energy Market Effect Factors Analysis

Chapter 12: Global Renewable Energy Market Forecast

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At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

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