Green energy refers to energy synthesized from natural sources such as sunlight, rain, wind, tides, plants, and geothermal heat. Green energy sources have a negligible negative impact on the environment and are becoming popular as the substitutes of conventional energy sources such as oil, coal, and natural gas, which adversely affect the climate by producing pollutants. While green energy sources generate less than 20% of the world’s electricity, the capacity continues to grow steadily and an increasing number of countries are developing renewable energy installations.
The global green energy market is poised to reach US$831.9 bn by 2019, rising at a CAGR of 8.3% from 2013 to 2019. Geographically, North America will continue to be the leading market until 2019. The Asia Pacific green energy market is anticipated to exhibit a significant CAGR of 10.3% over the forecast period. The growth of this regional market can be attributed to increasing energy demands due to rapidly growing population, the rise in spending power of the consumers, and technological advancements pertaining to energy production.
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The report serves as a repository of analysis and information regarding various aspects of the global green energy market including value chain analysis, market dynamics, geographical segmentation, and competitive landscape. Historical data and current market scenario have been taken into account to derive the future trends of the market.
Overview of the Global Green Energy Market
The primary appeal of green energy resources is that they are capable of reducing carbon emissions in the power generation industry. The increasing awareness regarding environment conservation and energy security issues are driving the global green energy market. Moreover, the presence of supportive regulatory frameworks is promoting the use of renewable energy sources. Another factor fuelling the growth of the market is the increasing investments in research and development of energy-efficient products.
By type, the global green energy market is segmented into solar photovoltaic (PV), wind energy, geothermal energy, hydroelectric power, and bio-fuels. Hydroelectricity power was the leading source of energy by value in 2012 and due to a large pre-installed base capacity, the segment is anticipated to maintain its position until the end of 2019. However, the solar PV sector will expand at an impressive CAGR of 14.6% during the same period. Technological advancements and development of reliable, efficient, and innovative solar PV technologies at reduced costs are contributing to the growth of this segment.
On the basis of end-user, the market is segmented into industrial, commercial, and residential. The commercial sector will continue to lead the market in terms of revenue until 2019 owing to favorable government regulations and increasing compliance requirements. Due to rising awareness regarding green energy and increasing installations of solar PV at homes, the residential sector is expected to rise at a noteworthy CAGR of 9.4% during the forecast period.
The global green energy market is highly fragmented in nature and is characterized by high competitive rivalry. Several global and local players are competing across different green energy market segments. The significant growth rate of the market is attracting new players, thereby making the market a more fragmented arena.
Companies Mentioned in the Global Green Energy Market
Some of the key players in the market are Archer Daniels Midland Company, ABB Ltd., Alterra Power Corporation, Calpine Corporation, Enercon GmbH, Enphase Energy Inc, First Solar Inc, GE Energy, Hanwha Q Cells GmbH, JA Solar Holdings Co. Ltd., Kyocera Solar Inc, Nordex SE, Suntech Power Holdings Co. Ltd., Suzlon Energy Ltd., U.S. Geothermal Inc, and Yingli Green Energy Holding Co. Ltd.
The global green energy market is segmented as below:
Green Energy Market Segmentation
By Energy Type
Solar photovoltaic (PV)
Solar PV inverters
- Micro-inverters
- String inverters
- Central inverters
Wind energy
Hydroelectric power
Bio-fuels
Geothermal energy
