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Green Power Market Report by Power Source (Wind, Solar, Low Impact Hydro, Biomass), End-Use (Transport, Industrial, Non-Combustible, Buildings) Forecast to 2027

PORTLAND, OREGON, UNITED STATES, August 26, 2022 /EINPresswire.com/ --

Green Power Market Top Companies

The key players operating in the green power industry are Adani Green Energy Limited, GE Renewable Energy, Green Energy Corp., Iberdrola SA, JinkoSolar Holding Co. Ltd., NextEra Energy, Inc., Orsted A/S, Siemens Gamesa Renewable Energy, Suzlon Energy Limited, and Tata Power. The players in the market have adopted several strategies, such as product launch and business expansion, to sustain the market competition.

AMR published a report, the green power market share is anticipated to generate $103.5 billion by 2027. The market is projected to experience growth at a CAGR of 12.3% from 2020 to 2027.

Key Locating of Green Power Market:

The green power market size is provided in terms of revenue.

By region, Asia-Pacific is projected to grow at the highest CAGR of approximately 12.8%, in terms of revenue, during the forecast period.

By power source, the solar segment is anticipated to grow with CAGR 12.7%, in terms of revenue, during the forecast period.

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By end-use sector, the buildings and industrial dominated the market with a revenue share of over 40.0% and 22.0% in 2019.The report provides a comprehensive analysis of the factors that drive and restrain the green power market growth.

The qualitative data in this report aims at the market trends, dynamics, and developments in the green power market.

The green power market forecast and estimations are based on factors impacting the market growth.

Based on power source, the market is divided into wind, solar, low impact hydro, biomass, and others. The wind segment dominated the market in 2019 while the solar segment is expected to grow at a higher CAGR during the forecast period.

Based on the end-use sector, the market is categorized into transport, industrial, non-combustible, buildings, and others. The buildings sector dominated the market in 2019; however, the transport sector is expected to grow at faster pace during the forecast period.

Europe dominated the market in 2019 while Asia-Pacific is expected to grow at a higher CAGR, owing to increased government and private investments in the green power market.

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Impact of Covid-19 Outbreak on the market

The green power market has low impact of COVID-19 as the sector is less dependent on macro factors such as supply chain or lockdowns. Moreover, the power generation and transmission infrastructure are self-sufficient to continue their working during the pandemic.

Presence of countries, such as China and India, are the major factor that boosts the Asia-Pacific green power market, owing to rise in investment in green power projects. There is significant increase in energy demand due to rapid industrialization and rise in population in countries such as China and India. The buildings and industrial sectors are expected to consume more energy during the forecast period in Asia-Pacific.

David Correa
Allied Analytics LLP
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