NEW YORK, Jan. 11, 2016 /PRNewswire/ --
Use this report to:
- Identify the current status of the global market for renewable energy sources and assess the market's growth potential from 2014 to 2019, with the base year of 2013.
- Learn about the history of renewable energy market.
- Focus on assessing the possibility that renewables will begin to compete not only with fossil fuels but also with each other for market share, government subsidies and public
- Learn about the major factors influencing demand for renewable energy.
- In terms of revenue, the global renewable energy market (excluding biofuels) reached $432.7 billion in 2013 and $476.3 billion in 2014. This market is expected to increase to $777.6 billion in 2019, with a compound annual growth rate (CAGR) of 10.3% from 2014 to 2019.
- The global hydroelectric technology market for renewable energy was valued at $298 billion in 2014 and is expected to grow at a CAGR of 7.2% from 2014 to 2019 to reach a value of $422.1 billion in 2019.
- In terms of revenue, the wind power market was valued at nearly $104.9 billion in 2014 and is expected to reach $180.1 billion in 2019, growing at a CAGR of 11.4% from 2014 to 2019.
Introduction & Scope
STUDY GOALS AND OBJECTIVES
BCC Research's goal for conducting this study is to determine the current status of the global market for renewable energy sources and assess the market's growth potential from 2014 to 2019, with the base year of 2013. Integrated studies covering renewable energy sources are rare due to the rapid growth and varied characteristics of renewables. The report focuses on assessing the possibility that renewables will begin
to compete not only with fossil fuels but also with each other for market share, government subsidies and public support. It also examines the impact on the market from the surging global demand for energy, the impact of climate change on alternative fuels, improvements in technology and the availability of new materials. The key objective is to present a comprehensive overview of the current markets for
renewable energy supplies and the future directions in which they are predicted to move.
REASONS FOR THE STUDY
Market studies have become increasingly stove-piped in terms of green technology in general and renewable energy sources in particular. This is a natural progression as each renewable energy source employs different technologies, has different constraints and offers different possibilities to various classes of users. However, considering renewable energy sources together allows for an assessment of the combined contribution they can make in reducing carbon dioxide (CO2) emissions, helping countries achieve energy independence, conserving natural resources and improving the environment in various ways. Looking at renewables in a single report also allows an assessment of policy-relevant issues in terms of gauging where support is warranted, how close some energy sources are to providing significant contributions
to the portfolio of available resources, and what metrics might be useful in deciding what energy sources are best equipped to satisfy the needs of individual countries and regions.
SCOPE OF THE REPORT
The scope of this report is intentionally wide. We cover the major sources of renewable energy as primary fuels—hydroelectric, wind, solar, geothermal and oceanic sources (wave, tidal and thermal) and liquid biofuels for transportation. There is no shortage in the marketplace of reports on each of these sources. However, what existing reports lack and what this report is intended to provide is a global perspective that places each
source in a relevant context for decision makers in both the public and private sectors.
This report is intended for professionals working at several levels in the energy and environmental fields. Although the report is structured around specific technologies, it is largely nontechnical in nature and focuses on which technologies work and their market shares and predicted prices instead of theory and jargon. Therefore, the report's main intended audience is executive management, marketing professionals and financial analysts. The report is not written specifically for scientists and technologists but may be of interest to this audience as it does discuss the market for their work, including the availability of government and corporate research funding for different technologies and applications. Others who may find the report informative include government agencies and environmental and public policy interest groups concerned with energy, sustainable development and the environment.
METHODOLOGY AND INFORMATION SOURCES
Both primary and secondary research methodologies were used in preparing this study. To obtain market data, BCC Research surveyed approximately 33 companies, including manufacturers, utilities, regulators, environmental analysts and reporters, and commercial consumers. In addition, data was compiled from current financial and trade information and government sources.
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