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A00060 | Pages: 340 | Charts: 58 | Tables: 114 |
The global renewable energy market size was valued at $1.1 trillion in 2023, and is projected to reach $2.5 trillion by 2033, growing at a CAGR of 8.5% from 2024 to 2033.
Renewable energy refers to energy that is generated from naturally replenishing sources referred to as infinite resources. These sources include sunlight, wind, rain, tides, waves, and geothermal heat. Renewable energy sources are sustainable and have minimal impact on the environment as compared to fossil fuels such as coal, oil, and natural gas, which are finite and contribute to environmental degradation through greenhouse gas emissions and pollution.
The adoption of renewable energy has gained momentum globally due to increase in concerns about climate change, energy security, and the depletion of fossil fuel reserves. Governments, businesses, and individuals are investing in renewable energy technologies to reduce greenhouse gas emissions, diversify energy sources, and promote sustainable development. In addition, advancements in technology and declining costs have made renewable energy increasingly competitive with conventional energy sources, driving its rapid deployment and integration into the energy mix. Renewable energy plays a crucial role in mitigating climate change and ensuring a reliable and resilient energy supply as the world transitions towards a cleaner and more sustainable energy future.
The renewable energy market report covers 20 countries. The research includes a segment analysis of each country in terms of value for the projected period.
More than 1,500 product literatures, industry releases, annual reports, and other such documents of major renewable energy industry participants along with authentic industry journals, trade associations' releases, and government websites have been reviewed for generating high-value industry insights.
Key Market Segments
Key Market Players