PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1236084
PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1236084
Global Alternative Energy Market is valued approximately USD 1.32 trillion in 2021 and is anticipated to grow with a healthy growth rate of more than 8.8% over the forecast period 2022-2029. Energy produced via solar, nuclear, and geothermal sources is considered an alternative energy source. Emissions of greenhouse gases into the atmosphere are reduced to almost zero. Alternate energy is utilized to generate electricity and is derived either directly from the sun or indirectly from heat produced deep under the ground. The market for Alternative energy is being driving by factors such as increase in preference toward environment-friendly energy solutions inclination toward use of localized energy procurement and diversifying energy supply and focusing on reducing dependence on imported fossil fuels.
Globally, the adoption rate of alternative energy is rising as a result of a number of factors, including a rise in the demand for electricity and other forms of power, the depletion of fossil fuel resources, and a rise in environmental pollution. Electricity, industrial heat, and thermal energy all of which are consumed by different end users can be generated from alternative energy sources. Alternative energy aids in resolving issues with resource sustainability, pollution reduction, and resource renewability, all of which will have a beneficial effect on market trends for alternative energy soon. According to International European Agency, the global renewable electricity capacity is forecast to rise more than 60% by year 2026 from 2020 levels to over 4 800 GW. With the rising adoption of renewable electricity the market for alternative energy is expected to rise. However, high initial costs for setting of energy production plant and storage
and slow rate of energy production as compared to fossil fuels stifles market growth throughout the forecast period of 2022-2029.
The key regions considered for the Global Alternative Energy Market study includes Asia Pacific, North America, Europe, Latin America, and Rest of the World. Asia Pacific dominated the market in terms of revenue, owing to the dominance of key market players and the region's increasing production of alternative energy. Whereas North America is expected to grow with a highest CAGR during the forecast period, owing to factors such as rising adoption of renewable sources of energy, and high government support to the energy industry.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and Type offerings of key players. The detailed segments and sub-segment of the market are explained below:
List of tables and figures and dummy in nature, final lists may vary in the final deliverable
List of figures
List of tables and figures and dummy in nature, final lists may vary in the final deliverable