Green power- is a subset of renewable energy. It represents those renewable energy resources and technologies that provide the greatest environmental benefit. There are numerous factors contributing to the growth of the green energy market such as rise in industries in developing economies, increase in stringent government regulations toward greenhouse gas emissions across the globe, and surge in favorable policies in developed and developing economies for the green power sector. Countries, including India possess significant growth potential; however, due to inconsistent policy and business environment, the market is growing at a moderate rate.
MARKET SCOPE
The "Global Green Power Market Analysis to 2028" is a specialized and in-depth study of the clean energy with a special focus on the global market trend analysis. The report aims to provide an overview of the green power market with detailed market segmentation by power source, end-use industry and geography. The report provides key statistics on the market status of the leading green power market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
- On the basis of power source the market is segmented into wind, solar, low impact hydro, biomass, and others
- On the basis end-use industry, the market is segmented as transport, industrial, non-combustible, buildings, and others
MARKET DYNAMICS
Drivers:
- Favourable government policies for mitigating greenhouse gas emissions
- Growth in industrialization from developing economies
- High cost and poor performance of biodegradable engine oil restraints the market growth
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The green power market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trends. The report also provides exhaustive PEST analysis for all five region, evaluating political, economic, social and technological factors affecting the green power market in these regions.
IMPACT OF COVID-19 ON GREEN POWER MARKET
The emergence of the COVID-19 has severely impacted the renewable industries, which resulted decline in the green power market in the year 2020. The pandemic severely impacted the wind turbine manufacturing in countries such as China and Germany. In addition, governments across the world were compelled to reduce the business activities in response to minimize the threat of coronavirus. Owing the decline in the business activities has further negatively impacted distributed energy resource management system solutions in the short term. The limited availability of spares and manpower for maintenance due to the pandemic is a major problem that affects the market growth. During high wind season, planned maintenance has become a major issue for industry players, owing to reduced labor force and social distancing norms. Furthermore, project delays and and cancellation of orders has affected the key markets for both blade production and wind turbine installations. Hence, from 2021, the ease in restriction and opening of manufacturing industries have fueled the market growth over the projected period.
MARKET PLAYERS
The report covers key developments in the green power market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as advancement in products, reallocation of resources and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market players in the green power market are anticipated to provide lucrative growth opportunities in the future owing favourable government regulations for mitigating carbon emissions.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the green power market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- Adani Group
- GENERAL ELECTRIC
- Iberdrola, S.A.
- Jinko Solar
- NextEra Energy, Inc.
- ?rsted A/S
- Siemens Gamesa Renewable Energy, S.A.
- Suzlon Energy Limited
- Tata Power
- Enel Spa