The Renewable Energy Market to reach $620 Billion by 2026, According to a New Report
Global Renewable Energy (Solar PV, CSP, Wind, Biomass, Geothermal, Hydropower, Marine Power) Market & Technologies – 2022-2032 with COVID-19 & COP26 Impacts
Washington DC – July, 30 — A new market report published by HSRC, Global Renewable Energy Market & Technologies – 2022-2032, concludes that:
- The 2026 market will reach $620 billion.
- The U.S. and China (which emitted 36% of the world greenhouse gases in 2021) will spend about 48% of the global renewable energy expenditure.
Key market drivers are:
- Investors’ enthusiasm for financing renewable energy projects is substantial and growing.
- The invasion of Ukraine that has raised the cost of natural gas and oil prices have pushed heating bills higher. Similarly, the cost of transportation is moving higher as fuel becomes more expensive, resulting in higher investments in climate change mitigation.
- The May – June 2022 heatwaves, that affected more than 500 million people across the globe, drive public and government understanding that climate change must be addressed as soon as possible.
- Availability of technologies and their cost-performance improvement at a fast pace.
- The COP26 investment pledges.
- Profits of the renewable energy industry.
- Government subsidies and investments in Renewable Energy projects.
- Unprecedented grassroots support that drives politicians to invest in Renewable Energy projects.
- Future Renewable Energy Levelized Cost of Energy (LCOE) reduction driven by mass production, competition and innovation.
Renewable Energy Capacity [GW] by Country – 2020
The renewable energy industry professionals who published this report bring you an updated (post COP26) market analysis and forecasts. It is the utmost comprehensive review of the global renewable energy market available today. The objective of this report is to provide today’s strategic decision-makers with an expert 360-degree, time-sensitive, detailed view of this interconnected market.
With 381 pages, 370 tables and figures, the report contains a thorough analysis of 8 application sectors, 8 Renewable Energy technology sectors, five regional, 60 national and 5 revenue source markets, detailing 2018-2032 market size.
Global Renewable Energy Market Segmentation Vectors
What does the Report give you?
A. Questions answered in this report include:
- What are the Renewable Energy technology & cost trends?
- What are the challenges to market penetration & growth?
- Which countries pledged at COP26 to invest in renewable energy?
- What will the 2022-2032 market size be?
- Which submarkets provide attractive business opportunities?
- What drives customers to invest?
- How does COVID-19 affect the Market?
B. The Global Renewable Energy market size data is analyzed via five independent viewpoints.
With a highly fragmented market, we address the “money trail” – each dollar spent in the global Renewable Energy market is analyzed and crosschecked via 5 orthogonal viewpoints:
1. By 8 Vertical (Applications) Markets:
- Energy Efficient Buildings
- Energy-Efficient Transportation
- EV Charging Infrastructure
- Heat Pumps
2. By 8 Technologies:
- Marine Power
- Solar PV
- Concentrating Solar Power (CSP)
- Wind Power
- Other renewable technologies
3. By 5 Revenue Source Markets:
- Planning & Consulting Services
- Turnkey Systems
- Aftersale Maintenance
- Training Services
4. By 5 Regional Markets:
- North America
- Latin America
- Middle East & Africa
- Asia Pacific
5. By 60 National Markets: U.S., Canada, Argentina, Brazil, Chile, Colombia, Cuba, Ecuador, Mexico, Peru, Puerto Rico, Venezuela, Rest of Latin America, Austria, Belarus, Belgium, Bulgaria, Czech Republic, Denmark, Finland, France, Germany, Greece, Hungary, Italy, Netherlands, Norway, Poland, Portugal, Romania, Russia, Serbia, Slovakia, Spain, Sweden, Switzerland, UK, Ukraine, Rest of Europe, Algeria, Egypt, Iran, Israel, Kuwait, Saudi Arabia, South Africa, Turkey, UAE, Rest of MEA, Australia, China, India, Indonesia, Japan, Kazakhstan, Philippines, South Korea, Thailand, Vietnam, Rest of Asia-Pacific
C. Detailed market analysis frameworks for each of the market sectors are provided, including:
- Market drivers & inhibitors
- Business opportunities
- SWOT analysis
- Competitive analysis
- Business environment
D. The report mentions 117 renewable energy companies
HSRC™ is an American Israeli market intelligence & technology research firm specializing in Homeland Security, Transformational Technologies, High Growth and Climate Change markets. HSRC offers premium market off-the-shelf and custom reports. HSRC provides quantified B2B and B2G research on hundreds of high-growth niche opportunities, which can impact about 12,000 global companies’ revenues. Currently servicing 2500 customers worldwide, including 40% of global Fortune 1000 companies and government agencies as clients.
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