Pune, India, Aug. 31, 2021 (GLOBE NEWSWIRE) -- According to conclusive views of seasoned analysts, worldwide renewable power generation market size is anticipated to register a healthy growth rate over the forecast period 2021-2027. Developing consciousness regarding environmental degradation due to extensive use of fossil fuels such as coal for energy generation is stimulating industry growth.
The report estimates the size of the market through a comprehensive analysis of the sub-markets in terms of product terrain and regional scope. By doing so, it helps businesses identify the key growth avenues for the upcoming years. Proceeding further, the research literature offers in-depth profiles of the leading players as a part of the competitive landscape analysis.
Favorable government initiatives and increasing number of renewable power project installations are further accelerating the industry expansion. For instance, Sunseap Group, in July 2021, announced plans to build the world's largest floating solar farm in Indonesia with an investment of USD 2 billion. The project aims to cover 1600 hectares and is expected to have a capacity of 2.2 gigawatts.
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Moreover, increasing efforts towards technological innovations in product development are anticipated to enhance the overall renewable power generation remuneration scope. To exemplify, GE Renewable Energy, GE Research, and LM Wind Power together with the National Renewable Energy Laboratory (NREL) of U.S. Department of Energy commenced the ‘Automated Blade Finishing’ program in 2020, which is aimed towards enhancing throughput, environmental health and safety, and quality in wind turbine blade production.
Elaborating on the challenges, high costs associated with renewable power generation products and their installation are negatively impacting the market demand.
Geographical analysis overview:
North America, Latin America, Europe, and Asia Pacific are the key regional contributors to global renewable power generation industry growth. Of these, Asia Pacific is slated to emerge as a prime growth avenue over the forecast duration, creditable to surging demand for basic energy from the burgeoning population, especially in India and China.
Competitive landscape summary:
Invenergy LLC, Acciona S.A., National Grid (Geronimo Energy), Électricité de France S.A, Innergex Renewable Energy Inc., Xcel Energy Inc., Tata Power Company Ltd., ABB Ltd., and General Electric Co. are the prominent players influencing the competitive dynamics.
Experts speculate that tie-ups with governments, production capacity expansion, and R&D investments for new product development will help businesses improve their market stance in the forthcoming years.
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Global Renewable Power Generation Market Product Terrain (Revenue, USD Billion, 2018-2027)
- Wind
- Hydropower
- Bioenergy
- Others
Global Renewable Power Generation Market Geographical Bifurcation (Revenue, USD Billion, 2018-2027)
North America
- United States
- Canada
Europe
- United Kingdom
- France
- Germany
- Italy
- Spain
- Rest of Europe
Asia Pacific
- India
- Japan
- China
- South Korea
- Australia
- Rest of Asia Pacific
Latin America
- Brazil
- Mexico
Rest of the World
Global Renewable Power Generation Market Competitive Dashboard (Revenue, USD Billion, 2018-2027)
- Invenergy LLC
- Acciona S.A.
- National Grid (Geronimo Energy)
- Électricité de France S.A
- Innergex Renewable Energy Inc.
- Xcel Energy Inc.
- Tata Power Company Ltd.
- ABB Ltd.
- General Electric Co.
Table of Content:
Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2019-2027 (USD Billion)
1.2.1. Renewable Power Generation Market, by Region, 2019-2027 (USD Billion)
1.2.2. Renewable Power Generation Market, by Product, 2019-2027 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Renewable Power Generation Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Scope of the Study
2.2.2. Industry Evolution
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Renewable Power Generation Market Dynamics
3.1. Renewable Power Generation Market Impact Analysis (2019-2027)
3.1.1. Market Drivers
3.1.1.1. Government initiatives
3.1.1.2. Growing installation of renewable power projects
3.1.2. Market Restraint
3.1.2.1. High cost of products and installation
3.1.3. Market Opportunities
3.1.3.1. Technological advancements
Chapter 4. Global Renewable Power Generation Market Industry Analysis
4.1. Porter's 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.1.6. Futuristic Approach to Porter's 5 Force Model (2018-2027)
4.2. PEST Analysis
4.2.1. Political
4.2.2. Economical
4.2.3. Social
4.2.4. Technological
4.3. Investment Adoption Model
4.4. Analyst Recommendation & Conclusion
Chapter 5. Global Renewable Power Generation Market, by Product
5.1. Market Snapshot
5.2. Global Renewable Power Generation Market by Product, Performance - Potential Analysis
5.3. Global Renewable Power Generation Market Estimates & Forecasts by Product 2018-2027 (USD Billion)
5.4. Renewable Power Generation Market, Sub Segment Analysis
5.4.1. Hydropower
5.4.2. Wind
5.4.3. Solar
5.4.4. Bioenergy
5.4.5. Others
Chapter 6. Global Renewable Power Generation Market, Regional Analysis
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