Green Power Global Market 2024 To Reach $157.3 Billion By 2028 At Rate Of 15.7%

The Business Research Company's Green Power Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033

LANDON, GREATER LANDON, UNITED KINGDOM, September 27, 2024 /EINPresswire.com/ -- The green power market has experienced robust growth in recent years, expanding from $76.54 billion in 2023 to $87.88 billion in 2024 at a compound annual growth rate (CAGR) of 14.8%. The growth in the historic period can be attributed to corporate sustainability goals, government incentives and subsidies, energy independence initiatives, environmental concerns and regulations, cost reduction in renewable energy.

What Is The Estimated Market Size Of The Global Green Power Market And Its Annual Growth Rate?
The green power market is projected to continue its strong growth, reaching $157.3 billion in 2028 at a compound annual growth rate (CAGR) of 15.7%. The growth in the forecast period can be attributed to policy and regulatory changes, investment and funding trends, market demand and consumer behavior, cost reduction and economies of scale, global energy transition initiatives. 

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Growth Driver Of The Green Power Market
Increasing urbanization is expected to propel the growth of the green power market going forward. Urbanization is the process by which huge numbers of people become permanently concentrated in relatively small regions, establishing cities. Urbanization causes significant increases in both real and ideal energy usage. To meet rising green power needs and reduce emissions, urban areas prioritize the use of renewable energy sources as a future sustainable energy option. 

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Who Are the Leading Competitors in the Green Power Market Share?
Key players in the market include General Electric Renewable Energy LLC, Siemens Gamesa Renewable Energy S.A., Trina Solar Co. Ltd., Adani Green Energy Limited, Robert Bosch GmbH, Earthlinked Technologies Inc., Ormat Technologies Inc., Senvion S.A., Ørsted A/S, Tata Power Company Limited, Iberdrola S.A., Brookfield Renewable Energy Partners L.P., Enel S.p.A., First Solar Inc., Nordex SE, Yingli Solar Holdings Co. Ltd., Constellation Energy Corporation, NextEra Energy, Vestas Wind Systems A/S, Canadian Solar Inc., Daqo New Energy Corp, Plug Power Inc., Algonquin Power & Utilities Corp., Capstone Green Energy Corporation, VivoPower International PLC, Xcel Energy Inc., Duke Energy Corporation, American Electric Power Company Inc., Dominion Energy Inc., Bloom Energy Corporation.

Which Key Trends Are Driving Green Power Market Growth?
Major companies operating in the market are developing advanced technologies such as renewable power technologies to meet larger customer bases, more sales, and increase revenue. Renewable power technology refers to the use of energy sources that are naturally replenished on a human timescale.

How Is The Global Green Power Market Segmented?
1) By Offering: Solutions, Services
2) By Type: Solar Energy, Wind Energy, Hydroelectric Power, Biofuels, Other Types
3) By End-User: Residential, Commercial, Industrial

Geographical Insights: Europe Leading The Green Power Market
Europe was the largest region in the market in 2023. Asia-Pacific is expected to be the fastest-growing region in the report during the forecast period. The regions covered in the green power market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Green Power Market Definition
Green power is a subset of renewable energy, that is generated from natural resources. It represents those renewable energy resources and technologies that provide the greatest environmental benefit.

Green Power Global Market Report 2024 from TBRC covers the following information:
• Market size data for the forecast period: Historical and Future
•Macroeconomic factors affecting the market in the short and long run
•Analysis of the macro and micro economic factors that have affected the market in the past five years
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

An overview of the global green power market report covering trends, opportunities, strategies, and more
The Green Power Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on green power market size, green power market drivers and trends, green power market major players and green power market growth across geographies. This report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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The Business Research Company
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