Green Power Market Worth $103.5 Billion by 2027

Global Green Power Market projected to grow at a CAGR of 12.3% from 2020 to 2027

Increased demand for electricity due to rising population, increased environmental awareness, and adoption of electric vehicles are expected drive the adoption of Green Power.”
— Allied Market Research
WILMINGTON, DE, UNITED STATES, November 28, 2024 /EINPresswire.com/ --

According to a new report published by Allied Market Research, The green power market was valued at $41.1 billion in 2019 and 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.

Green power refers to electricity generated from renewable energy sources that have a minimal impact on the environment. This includes sources like solar, wind, hydroelectric, geothermal, and biomass. Utilizing green power is crucial in the fight against climate change and for promoting sustainable energy practices.

Download PDF Brochure: https://www.alliedmarketresearch.com/request-sample/7940

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

The key players operating in the global 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.

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. Furthermore, India has significant growth potential; however, due to its inconsistent policy and business environment the in past, the green power share in the total energy production was less.

The shift in trend toward the use of localized energy procurements has been witnessed in recent years.

Buy This Report (255 Pages PDF with Insights, Charts, Tables, and Figures): https://bit.ly/41tJ1Kr

Various government bodies in countries, such as India, have taken the advantage of community choice aggregation (CCA) policies, which permit governments to procure green power resources on behalf of their constituents while retaining their existing electricity providers for transmission and distribution services.

High cost involved to set up the base for green power restrains the market growth.

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

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 growing concern toward CO2 emission and net zero goals for 2050 by several countries largely drive the market growth for green power.

High cost involved in the setup and maintenance limit the market growth, thereby restraining further activities. Meanwhile, the growing electronic vehicles market offers opportunities for the market growth.

Get a Customized Research Report: https://www.alliedmarketresearch.com/request-for-customization/A07575

COVID-19 impact

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.

The power generation and transmission infrastructure are self-sufficient to continue their working during the pandemic.

Trending Reports in Energy and Power Industry:

Renewable Energy Market

https://www.globenewswire.com/news-release/2024/09/19/2949190/0/en/Renewable-Energy-Market-to-Reach-2-5-Trillion-Globally-by-2033-at-8-5-CAGR-Allied-Market-Research.html

Clean Energy Transition Market

https://www.alliedmarketresearch.com/clean-energy-transition-market-A323811

Clean Energy Infrastructure Market 

https://www.prnewswire.com/news-releases/clean-energy-infrastructure-market-to-reach-1-5-trillion-globally-by-2033-at-9-3-cagr-allied-market-research-302224247.html

Tidal Energy Market

https://www.alliedmarketresearch.com/tidal-energy-market-A39026

Clean Energy Market

https://www.globenewswire.com/news-release/2024/04/15/2863079/0/en/Clean-Energy-Market-to-Reach-1-4-trillion-Globally-by-2032-at-9-1-CAGR-Allied-Market-Research.html

Green Energy Market

https://www.alliedmarketresearch.com/green-energy-market

Artificial Intelligence in Renewable Energy Market

https://www.alliedmarketresearch.com/artificial-intelligence-in-renewable-energy-market-A224072

Solar Energy Market

https://www.alliedmarketresearch.com/solar-energy-market

Green Hydrogen Market

https://www.alliedmarketresearch.com/green-hydrogen-market-A11310

Energy Transition Market

https://www.alliedmarketresearch.com/energy-transition-market-A31819

Alternative Energy Market

https://www.alliedmarketresearch.com/alternative-energy-market-A21107

Green Power Market

https://www.prnewswire.com/news-releases/green-power-market-to-reach-103-5-bn-globally-by-2027-at-12-3-cagr-says-allied-market-research-301180407.html

Advanced Energy Market

https://www.alliedmarketresearch.com/advanced-energy-market-A15774

About Us

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

David Correa
Allied Market Research
+1 800-792-5285
email us here
Visit us on social media:
Facebook
X

Legal Disclaimer:

EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.