Clean Energy Technologies Market Size to Grow by USD 81.65 Billion | Increase in Investments in Clean Energy Technologies to Boost Market Growth | 17,000+ Technavio Research Reports

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Key Market Dynamics:

• Market Drivers

The increase in investments in clean energy technologies and rising demand for clean energy sources are some of the key market drivers. Stringent government regulations on minimizing carbon emissions and promotion of clean energy technologies such as solar PV and wind farm across the world has increased considerably in the recent years. Furthermore, in a view to promote the usage of green technologies, there has been a rise in investments in clean energy technologies such as solar energy, nuclear energy, and energy-efficient coal-fired power generation. This will further fuel the market's growth during the forecast period.

• Market Challenge

However, factors such as competition from other sources of energy will challenge market growth. The use of fossil fuels such as coal, oil, natural gas, and other non-renewable energy sources accounts for a significant portion of the global energy mix which is expected to impede the growth during the forecast period.  Moreover, the cost of the establishment of renewable energy farms for power generation is quite high, and the power output from renewable sources is not at par compared with the output from non-renewable sources such as coal and natural gases. Such factors are projected to negatively impact the growth of the global clean energy technologies market during the forecast period.

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Key Market Segment Analysis:

The clean energy technologies market report is segmented by Technology (Hydropower, Clean coal, Wind, Solar, and Others) and Geography (APAC, Europe, North America, and ROW). The hydropower technology segment led the highest market share in 2020. The segment will continue to account for the largest market revenue as the hydropower plants not only produce electricity but also offer irrigation facilities and protection from floods.  APAC will be the leading region with 53% of the market's growth during the forecast period. China, India, and Japan are the key markets for clean energy technologies in APAC. Market growth in APAC will be faster than the growth of the market in other regions. The growth of this region can be attributed to the significant increase in the global clean energy demand by APAC countries such as China, India, and Japan and the gradual decline in most carbon-intensive fuels will facilitate the clean energy technologies market growth in APAC.

View our sample report for additional insights into the contribution of all the segments, and regional opportunities in the report.

Key Vendor Analysis

The clean energy technologies market is fragmented and the vendors are deploying various organic and inorganic growth strategies to compete in the market. Vendors are engaging in product launches and strategic initiatives to strengthen their position in the market. For instance, In September 2021, ENERCON GmbH launched its E-160 EP5 E3, a 14-meter-long machine house featuring built-in electrical systems. In July 2021, Nordex SE announced a new strategic collaboration with TPI Composites in Mexico. In September 2021, Siemens Gamesa Renewable Energy SA launched a recyclable wind turbine blade for commercial use offshore.

Some Companies Classified as Dominant Players Covered in this Report are:       

• ENERCON GmbH
• JA Solar Technology Co. Ltd.
• JinkoSolar Holding Co. Ltd.
• Nordex SE
• Siemens Gamesa Renewable Energy SA
• Sinovel Wind Group Co. Ltd.
• Suzlon Energy Ltd.
• Trina Solar Co. Ltd.
• Vestas Wind System AS
• Wuxi Suntech Power Co. Ltd.

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Key Topics Covered:

• Executive Summary
• Market Landscape
• Market Sizing
• Five Forces Analysis
• Market Segmentation by End-user
• Customer landscape
• Geographic Landscape
• Vendor Landscape
• Vendor Analysis
• Appendix

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