Renewable Energy Market 2021- Global Industry Study by Overall Impact of COVID-19, Growth, Size, Top Players, Share, Development, Future Trends, Demand, forecast to 2030

In a recent published report, Kenneth Research has updated the market report for Renewable Energy Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.

U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4  billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Renewable Energy Market products.

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The global renewable energy market grows at a CAGR of 7.50% and will contribute $1020 billion till 2028. The market is growing at a very faster pace due to rising awareness regarding renewable energy, rising substitute for petroleum products increases the biofuels demand, tax incentives by the government, investment in renewable energy by the government and so on.

“Final Report will add the analysis of the impact of COVID-19 on this industry.”

Decreasing the cost of renewable energy is one of the major factors to thrust up the global market. The renewable generation costs have decreased in many parts of the world due to sustained technology in progress, expansion of deployment to newer markets with better resources and improved financing conditions. As such, some countries and regions now have the potential in the development paradigm mainly based on rising affordable renewable power. This is especially true in Sub-Saharan Africa. Affordable renewables are set to dominate the rising power systems of the world. With excellent solar, wind resource and hydro, improving cost-friendly and policy momentum, renewables can play a critical role in supporting economic growth and energy access mainly in sub-Saharan Africa, meeting almost two-thirds of the region’s new demand needs in the forecasted year.

The global renewable energy market is segmented into types of energy, applications, and regional outlook. In types of energy, the market is divided into biofuels, hydroelectric power, geothermal energy, solar photovoltaic and wind energy. In applications, the segment market is divided into geothermal electricity generators, automotive applications, industrial applications, and other applications. Industrial application for renewable energy is growing at a very rapid rate due to rising industrialization and rising urbanization.

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In the regional outlook, the market is divided into North America, Asia Pacific, Europe and rest of the world. North America dominates the global renewable energy market. The major reason is rising wind energy plants in this region, rising energy demand and so on. The Asia Pacific is the fastest-growing market in terms of production. China and India are the two major countries in this region. Rising demand for energy sources due to the rising population is one of the major reasons, rising automotive sector, and rising industrialization also boost the market in this region. The European market is also growing at a faster pace as the government of Europe initiate steps towards clean and green energy. Renewable energy produces less air pollution. The rest of the world is growing in terms of energy demand. Saudi Arabia, South Africa are the major countries in this region.

Renewable energy requires huge capital investment and a large area for the machinery setup. This increases the cost of renewable energy, while on the other hand conversion of renewable energy is a complex process. This complex and costly manufacturing process acts as a restraint in the growth of the global renewable energy market.

Based on what factors are the key market players assessed in this report?

  • The report offers a detailed analysis of leading companies in the market across the globe.
  • It provides details of the major vendors involved in the Renewable Energy market including – Archer Daniels Midland Company, Gamesa Corporation Technologica Sa, Cosan Sa Industria E Comercio, Yingli Green Energy Hold. Co. Ltd., Suzlon Energy Ltd., Suntech Power Holding Co. Ltd., Sharp Corporation, Satluj Jal Vidyut Nigam Ltd., Magma Energy Corp., Etc. Acquisition, mergers, and expansions are the key strategies adopted by the market players to sustain in the market.
  • A comprehensive overview of each company including the company profile generated revenue, pricing of goods and the manufactured products is incorporated in the report.
  • The facts and figures about market competitors along with standpoints of leading market players are presented in the report.
  • The recent developments, mergers, and acquisitions related to the mentioned key players are provided in the Renewable Energy market report.

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COMPANY PROFILES

1. ARCHER DANIELS MIDLAND COMPANY
2. AVENTINE RENEWABLE ENERGY HOLDINGS, INC.
3. CALPINE CORP
4. COSAN SA INDUSTRIA E COMERCIO
5. ENEL (ENTE NAZIONALE PER L’ENERGIA ELETTRICA SPA)
6. ENERCON GMBH
7. GAMESA CORPORACION TECHNOLOGICA SA
8. JA SOLAR HOLDINGS CO., LTD.
9. JAIPRAKASH POWER VENTURES LTD
10. KYOCERA SOLAR INC.
11. MAGMA ENERGY CORP.
12. SATLUJ JAL VIDYUT NIGAM LTD
13. SHARP CORPORATION
14. SIEMENS AG
15. SUNTECH POWER HOLDING CO. LTD
16. SUZLON ENERGY LTD
17. YINGLI GREEN ENERGY HOLD. CO. LTD.

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