Market Research Report
Clean Energy Market with COVID-19 Impact Analysis, By Type, By Application, and By Region - Size, Share, & Forecast from 2021-2027
|Clean Energy Market with COVID-19 Impact Analysis, By Type, By Application, and By Region - Size, Share, & Forecast from 2021-2027|
Published: May 1, 2021
AnalystView Market Insights
Content info: 302 Pages
Delivery time: 2-3 business days
The global clean energy market was valued at USD 980.6 billion by 2019, growing with 5.9% CAGR during the forecast period, 2021-2027.
Increased pollution levels, environmental concerns, and human health concerns have prompted the need to maximize energy production from cleaner energy sources. Furthermore, by increasing the use of cleaner energy sources, the high rate of pollution caused by burning conventional fuels such as coal and petroleum can be reduced, thereby increasing high demand from the global clean energy market. Additionally, through the implementation of new business models, emerging technologies in the clean energy market can capture new niche markets. As a result, technology penetration, market creation, and the development of emerging technologies are some of the most important indicators of clean energy deployment progress.
The COVID-19 pandemic has caused a worldwide impact on the power sector, thereby impacting the operations of clean energy. As countries practiced partial or absolute lockdown strategies to deal with the pandemic, numerous power production firms across regions have been forced to close down their manufacturing facilities and services. The COVID-19 pandemic has resulted in a major reduction in energy demand. Governments all over the world, however, were forced to reduce commercial practices in order to eliminate the threat of coronavirus. The green energy sector has experienced a number of losses as a result of supply chain problems that are immense and crippling, as well as a workforce that is in less supply than it has ever been. Although, the government in many countries are implementing supportive regulation to keep their economies back on track, thereby forecasted to fuel the market growth in the near future.
Based on type, the solar segment is projected to be the leading clean energy market. Building-Integrated Photovoltaic (BIPV) solar power and floating solar farms are two types of emerging solar technologies that are gaining popularity. Furthermore, the installation cost of floating solar farms is lower than that of conventional land-based solar panels. Hence, such factors will fuel the segment growth during the forecast period. The rising wind energy producers shift towards the production of energy through their offshore wind farms owing to low logistics costs and low turbine maintenance costs will fuel the wind power segment. Based on application, the industrial segment accounted to hold the highest market share of clean energy. The growth is attributed to the rapid growth in the chemicals & petrochemicals, power, food & beverage, and oil & gas industries. The residential segment is accounted to witness significant growth during the review period. This is due to rising work-from-home owing to the covid-19 pandemic.
In the clean energy market, Asia Pacific accounted to witness higher growth during the forecast period, in which China and India are the leading contributors. According to Electric Power Annual, the global electricity generation capacity from renewable fuel sources is projected to grow at a CAGR of 23.1 percent over 2018 to generate a total of 277.77 GW of clean energy. Furthermore, India's clean energy sector is the world's fourth most appealing solar energy market. According, India Brand Equity Foundations, as of 2019, India has been ranked fifth in wind energy, fourth in renewable energy installed capacity, and fifth in solar energy. The rising demand for solar energy from the commercial segment will fuel the market growth in North America. The European Union's long-term goal is to make Europe a climate-neutral continent by 2050 will fuel the market growth in Europe. To achieve this aim, the European Green Deal emphasizes the value of achieving offshore clean energy, this will further improve the region's clean energy industry.
Key features of the study:
This proposed research study on clean energy market provides market size (US$ million), compound annual growth rate (CAGR %) and forecast estimation (2020-2027), considering 2019 as the base year
The research report elucidates potential growth opportunities across different segments/countries and explains attractive investment proposition matrix for clean energy market
The overall report identifies new investment opportunities, challenges faced by established players, and growth factors to sustain in the clean energy market
Impact of COVID-19 on clean energy market size, forecast, CAGR, and market dynamics are discussed in detail under the research scope. Detailed insight on clean energy market post-COVID will also be covered.
In order to give the users of this report a comprehensive view on the clean energy market, we have also included competitive landscape and key innovator analysis for the Clean Energy market.
The study encompasses a growth prospect mapping analysis, wherein all the industry segments are benchmarked based on their market size, growth rate and end-user's attractiveness.
The report offers detailed company profiling featuring major market participants which will help users to understand their financial information and strategic initiatives of players operating in the clean energy market.
In addition, the report also unveil the important acquisitions & mergers, collaborations & joint ventures, new application launch, research & development, regional expansion of major participants involved in the clean energy market on global as well as regional level.
The global clean energy market report primarily caters to various stakeholders in this industry including suppliers, investors, new entrants, distributors, and financial analysts
SCOPE OF THE REPORT
The scope of this report covers the market by its major segments, which include as follows:
GLOBAL CLEAN ENERGY MARKET KEY PLAYERS
American Electric Power Company, Inc.
Berkshire Hathaway Energy
Electricite de France S.A.
General Electric Company
NextEra Energy, Inc.
Renewable Energy Group, Inc.
Suzlon Energy Limited
Vestas Wind Systems A/S
UpWind Solutions, Inc.
JinkoSolar Holding Co. Ltd.
GLOBAL CLEAN ENERGY MARKET, BY TYPE
GLOBAL CLEAN ENERGY MARKET, BY APPLICATION
GLOBAL CLEAN ENERGY MARKET, BY REGION
Rest of Europe
Rest of APAC
Rest of LATAM
The Middle East and Africa
United Arab Emirates
Rest of MEA
List of Tables
List of Figures