Clean Energy Technologies Market to grow by USD 94.99 billion from 2022 to 2027 | The rising demand for clean energy sources to boost market growth- Technavio

PR Newswire · 09/15/2023 09:15

NEW YORK, Sept. 15, 2023 /PRNewswire/ -- The clean energy technologies market is expected to grow by USD 94.99 billion from 2022 to 2027, according to Technavio. In addition, the growth momentum of the market will progress at a CAGR of 5.94% during the forecast period. The rising demand for clean energy sources to boost market growth. To find a preview of the market overviews, market drivers, opportunities, and potentials request free sample report

Clean Energy Technologies Market 2023-2027: Company Analysis

The clean energy technologies market is fragmented due to the presence of many global and regional players. The market comprises category-focused, industry-focused, and diversified companies. The global off-grid clean energy technologies market is expected to grow rapidly during the forecast period due to the increase in investments in clean energy technologies. Hence, the competition among companies is expected to intensify during the forecast. The report analyzes the market's competitive landscape and offers information on several market companies. ABB Ltd., Acciona SA, Canadian Solar Inc., Enercon Services Inc., Envision Group, First Solar Inc., General Electric Co., Invenergy, JA Solar Technology Co. Ltd., JinkoSolar Holding Co. Ltd., Mitsubishi Heavy Industries Ltd., Senvion Wind Technology Pvt. Ltd., Shanghai Electric Group Co. Ltd., Shanghai Taisheng Wind Power Equipment Co. Ltd., Siemens AG, Sinovel Wind Group Co. Ltd., Tata Sons Pvt. Ltd., Vestas Wind Systems AS, Xcel Energy Inc., and Xinjiang Goldwind Science and Technology Co. Ltd.

Major Companies and Key Offerings:

  • Acciona SA - The company offers clean energy technologies such as operational hydroelectric power technology.
  • Envision Group - The company offers clean energy technologies such as smart wind turbines, smart wind farms, distributed wind power, and energy storage.

Clean Energy Technologies Market 2023-2027: Segmentation Analysis

By Technology

  • The market share growth of the hydropower segment will be significant during the forecast period. Hydropower, which is expected to grow by 17% or 230 GW in the period 2021 to 2030, represents the world's largest source of renewable energy. In 2020, hydropower generation reached 4,418 TWh, which is an increase of 124 TWh as compared with 2019, thus increasing overall by 3 %. Furthermore, reservoir hydroelectric plants and pumped storage hydroelectric plants are well suited to bring flexibility to the grid system because they can produce and supply electricity based on demand, while String-driven hydroelectric machines have variable water output depending on current or seasonal weather conditions. Net annual growth in hydropower capacity has recently declined. Indeed, there are very few large projects ordered in countries such as China and Brazil. In addition, more than 40% of hydropower projects under construction in India have been paused due to financial constraints and a lack of appropriate government policies. Hence, these factors are expected to drive segment growth during the forecast period. 

By Geography 

  • APAC is estimated to contribute 29% to the growth of the global market during the forecast period. China, India, and Japan are the key contributors to the market in the region. According to the IEA, global energy demand in 2021 increased by 4.6% compared to 2020. The growth in global energy demand is driven by Asian countries. As a result, energy demand in the region grew significantly. According to the IEA, global CO2 emissions in the first quarter of 2020 were 5% lower than in the first quarter of 2019 due to emissions from coal falling 8%, from oil 4.5% and natural gas 2.3%. CO2 emissions fell more than energy demand, as the most carbon-intensive fuels had the sharpest decline in demand in the first quarter of 2020. CO2 emissions in China fell 8% in 2020. Therefore, to further reduce carbon emissions, there is a need for significant adoption of clean energy sources in the region. Hence, these factors are expected to drive segment growth during the forecast period. 

To know additional highlights and key points on various market segments and their impact in coming years, Get a Sample Report.

Imperative Insights on the following aspects:

  • What was the size of the global clean energy technologies market by value?
  • What will be the size of the global clean energy technologies market in 2027?
  • How has the industry performed over the last five years?
  • What factors are affecting the strength of competition in the global clean energy technologies market?
  • What main segments make up the global clean energy technologies market?

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Clean Energy Technologies Market Scope

Report Coverage

Details

Base year

2022

Historic period

2017-2021

Forecast period

2023-2027

Growth momentum & CAGR

Accelerate at a CAGR of 5.94%

Market growth 2023-2027

USD 94.99 billion

Market structure

Fragmented

YoY growth 2022-2023 (%)

5.45

Regional analysis

APAC, Europe, North America, South America, and Middle East and Africa

Performing market contribution

APAC at 29%

Key countries

US, Canada, China, Japan, UK, and Germany

Competitive landscape

Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks

Key companies profiled

ABB Ltd., Acciona SA, Canadian Solar Inc., Enercon Services Inc., Envision Group, First Solar Inc., General Electric Co., Invenergy, JA Solar Technology Co. Ltd., JinkoSolar Holding Co. Ltd., Mitsubishi Heavy Industries Ltd., Senvion Wind Technology Pvt. Ltd., Shanghai Electric Group Co. Ltd., Shanghai Taisheng Wind Power Equipment Co. Ltd., Siemens AG, Sinovel Wind Group Co. Ltd., Tata Sons Pvt. Ltd., Vestas Wind Systems AS, Xcel Energy Inc., and Xinjiang Goldwind Science and Technology Co. Ltd.

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period.

Customization purview

If our report has not included the data you are looking for, you can reach out to our analysts and get customized segments.

ToC:

Executive Summary

Market Landscape

Market Sizing

Historic Market Sizes

Five Forces Analysis

Market Segmentation by Technology

Market Segmentation by End-User

Market Segmentation by Geography

Customer Landscape

Geographic Landscape

Drivers, Challenges, & Trends

Company Landscape

Company Analysis

Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research

Jesse Maida

Media & Marketing Executive

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UK: +44 203 893 3200

Email: media@technavio.com

Website: www.technavio.com

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SOURCE Technavio