Clean Energy Technologies Market size to grow by USD 94.99 billion from 2022 to 2027, ABB Ltd., Acciona SA, Canadian Solar Inc., to emerge as some of the key companies, Technavio

NEW YORK, Feb. 27, 2024 /PRNewswire/ -- The clean energy technologies market is expected to grow by USD 94.99 billion from 2022 to 2027, according to Technavio. In addition, the growth momentum of the market will progress at a CAGR of 5.94% during the forecast period. The rising demand for clean energy sources to boost market growth. The report analyzes the market's competitive landscape and offers information on several market companies. ABB Ltd., Acciona SA, Canadian Solar Inc., Enercon Services Inc., Envision Group, First Solar Inc., General Electric Co., Invenergy, JA Solar Technology Co. Ltd., JinkoSolar Holding Co. Ltd., Mitsubishi Heavy Industries Ltd., Senvion Wind Technology Pvt. Ltd., Shanghai Electric Group Co. Ltd., Shanghai Taisheng Wind Power Equipment Co. Ltd., Siemens AG, Sinovel Wind Group Co. Ltd., Tata Sons Pvt. Ltd., Vestas Wind Systems AS, Xcel Energy Inc., and Xinjiang Goldwind Science and Technology Co. Ltd. To find a preview of the market overviews, market drivers, opportunities, and potentials request sample report

Company Analysis

The clean energy technologies market is fragmented due to the presence of many global and regional players. The market comprises category-focused, industry-focused, and diversified companies. The global off-grid clean energy technologies market is expected to grow rapidly during the forecast period due to the increase in investments in clean energy technologies. Hence, the competition among companies is expected to intensify during the forecast.

Major Companies and Key Offerings:

• Acciona SA - The company offers clean energy technologies such as operational hydroelectric power technology.
• Envision Group - The company offers clean energy technologies such as smart wind turbines, smart wind farms, distributed wind power, and energy storage. request sample report

Segmentation Analysis

By Technology

• The market share growth of the hydropower segment will be significant during the forecast period. Hydropower, which is expected to grow by 17% or 230 GW in the period 2021 to 2030, represents the world's largest source of renewable energy. In 2020, hydropower generation reached 4,418 TWh, which is an increase of 124 TWh as compared with 2019, thus increasing overall by 3 %. Furthermore, reservoir hydroelectric plants and pumped storage hydroelectric plants are well suited to bring flexibility to the grid system because they can produce and supply electricity based on demand, while String-driven hydroelectric machines have variable water output depending on current or seasonal weather conditions. Net annual growth in hydropower capacity has recently declined. Indeed, there are very few large projects ordered in countries such as China and Brazil. In addition, more than 40% of hydropower projects under construction in India have been paused due to financial constraints and a lack of appropriate government policies. Hence, these factors are expected to drive segment growth during the forecast period. 

By Geography 

• APAC is estimated to contribute 29% to the growth of the global market during the forecast period. China, India, and Japan are the key contributors to the market in the region. According to the IEA, global energy demand in 2021 increased by 4.6% compared to 2020. The growth in global energy demand is driven by Asian countries. As a result, energy demand in the region grew significantly. According to the IEA, global CO2 emissions in the first quarter of 2020 were 5% lower than in the first quarter of 2019 due to emissions from coal falling 8%, from oil 4.5% and natural gas 2.3%. CO2 emissions fell more than energy demand, as the most carbon-intensive fuels had the sharpest decline in demand in the first quarter of 2020. CO2 emissions in China fell 8% in 2020. Therefore, to further reduce carbon emissions, there is a need for significant adoption of clean energy sources in the region. Hence, these factors are expected to drive segment growth during the forecast period. To know additional highlights and key points on various market segments and their impact in coming years, Get a Sample Report.

Analyst Review

The Clean Energy Technologies Market is witnessing remarkable growth amidst increasing concerns over CO2 emissions and dwindling fossil fuel reserves. Government regulations aimed at curbing emissions are propelling the adoption of clean energy sources like solar power, wind, and hydropower. Market segmentation reveals a diverse landscape driven by global energy demand and regional solar irradiation variances. Solar PV systems and modules are experiencing a surge in demand, reflecting trends favoring renewable sources of energy. However, challenges persist, including intermittency and storage. Nonetheless, innovations like clean coal technology offer promise. Amidst drivers pushing for sustainability, market data underscores the escalating prominence of clean energy in meeting our energy needs. Get a Sample Report.

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ToC:

1 Executive Summary
2 Landscape
3 Sizing
4 Historic Size
5 Five Forces Analysis
6 Segmentations
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Vendor Landscape
11 Vendor Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
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Email: [email protected]
Website: www.technavio.com

SOURCE Technavio