Renewable Energy Market Overview:

Stellar Industry Research's Renewable Energy Industry Report offers readers a detailed evaluation of the worldwide market landscape. This Renewable Energy Market study examines the situation from 2021 to 2027, using 2020 as the base year and historical data from 2016 to 2019. This study aids customers in making key business choices by providing them with a variety of research-based information.

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Rapid Growth in Adoption of Renewable Energy across the Globe:

In recent years, the rapid rise of solar and wind power has given new hope to global efforts to cut greenhouse gas emissions and mitigate the most serious effects of climate change. Solar and wind combined accounted for barely 1.7% of global electricity generation in 2010. By 2020, it had risen to 8.7%, significantly higher than what conventional energy models had expected. For example, the International Energy Agency expected that global solar energy generation will reach 550 terrawatt-hours by 2030 in 2012, but that number had already been surpassed by 2018. These factors presume that solar and wind power along with other types are expected to grow at a significant rate, which in turn is expected to boost the renewable energy market growth throughout the forecast period.

Segmentation:

The Renewable Energy Market is divided into Residential, Commercial, Industrial, and Other segments based on application. During the forecast period, the Residential segment is anticipated to expand at a CAGR of 8.6%. Due to rising environmental awareness and a desire to reduce the world's carbon footprint, people are choosing renewable energy sources over conventional, rapidly depleting non-renewable energy sources. The increased use of geothermal heat pumps for home heating applications is credited with the segment growth. As the demand for electricity rises, there will likely be a significant increase in the need for geothermal energy. Numerous businesses in the market also provide residential geothermal energy. Enel Green Power, for instance, owns the power plants at a complex and provides electricity to about 2 million homes, 8700 residential and commercial users, and 25 acres of greenhouses.

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Key Players:

JinkoSolar Holding Co. Ltd.
Vestas Wind Systems A/S
Ocean Power Technologies
GE
NextEra Energy, Inc.
Enel Group
ONPOWER Business Energy
Yingli Solar
Tocardo BV
SynTech Bioenergy
COVID-19 Impact Analysis on Renewable Energy Market:

The Global Renewable Energy Market Research Report gives an overview of the sector based on key parameters including sales volume, revenue, and sales forecasting, as well as major drivers. The market is expected to grow considerably throughout the forecasted period (2021-2027). COVID-19's most recent market ramifications are also included in this study. The global spread of the outbreak has had a broad influence on people's life. Industries have been forced to adopt new practices, tendencies, and tactics as a result. The case study tries to paint a portrait of the market's current and future expectations.

Key Questions Answered in the Renewable Energy Market Report are:

How has the Renewable Energy market's competitive landscape changed recently?
What is Renewable Energy's market size and share?
Where can I obtain sample market reports/company profiles?
Who are the Renewable Energy market's potential consumers?
Who are the primary competitors in the Renewable Energy industry?
Where can I get business profiles for the top 10 Renewable Energy market players?
Which region currently and in the future provides a greater commercial potential for Renewable Energy?
Who are the Renewable Energy industry's service providers?
What are Renewable Energy industry competitors' main growth methodologies?
About Stellar Market Research:

Stellar Market Research is a market research and consulting firm that provides syndicated and custom research reports in addition to consulting services. The main goal of the company's products is to assist businesses in identifying, focusing on, and analysing changes in consumer behaviour across demographics and industries to assist them in making better business decisions. In order to provide relevant and fact-based research, the company conducts market intelligence studies in a variety of industries, including healthcare, touch points, and energy. With experience in many different industries, Stellar Market Research has a sizable staff of highly qualified analysts. Clients can gain a competitive advantage over their rivals thanks to the company's subject-matter expertise and capacity to provide a workable solution to any research problem.

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