Urja Daily
No Result
View All Result
  • News
  • Renewable
    • Solar
    • Rooftop
    • Floating Solar
    • Module
    • Wind
    • Hydrogen
    • Biomass
    • Tenders
    • Sustainibility
  • Storage
  • E-Mobility
  • EV Battery
  • Smart City
  • Power
    • Smart Grid
    • Microgrid
    • Off-Grid
  • Editor’s Pick
    • Articles
    • In Talks
    • E-MAG
    • Market Research
  • On-demand Webinars
  • More
    • Events
    • Contact Us
    • Subscribe
  • News
  • Renewable
    • Solar
    • Rooftop
    • Floating Solar
    • Module
    • Wind
    • Hydrogen
    • Biomass
    • Tenders
    • Sustainibility
  • Storage
  • E-Mobility
  • EV Battery
  • Smart City
  • Power
    • Smart Grid
    • Microgrid
    • Off-Grid
  • Editor’s Pick
    • Articles
    • In Talks
    • E-MAG
    • Market Research
  • On-demand Webinars
  • More
    • Events
    • Contact Us
    • Subscribe
No Result
View All Result
Urja Daily
No Result
View All Result
Home Editor's Pick Market Research

Green Energy Market to surpass US$ 1,704.88 Bn by end of 2027

Urja Daily by Urja Daily
November 25, 2021
in Market Research
Reading Time: 5 mins read
0
Green Energy
Share on FacebookShare on TwitterShare on Linkedin

SEATTLE — According to Coherent Market Insights, The global green energy market is estimated to account for 1,704.88 Bn in terms of value, witnessing a CAGR of 8.3% by the end of 2028.

There are many sources of green energy. These include solar, wind, geothermal heat, and biofuel. It also includes a number of other resources, including the tides. Geothermal power is electrical energy produced from geothermal energy stored in the mantle. This type of energy is also called thermal energy because it derives its energy from the Earth’s temperature.

RELATED POSTS

Electric Vehicle Market

Key Growth Drivers of the U.S. Charging-as-a-Service Market

The most common form of green energy is the sun. This natural resource is the most abundant source of energy. As such, solar energy is widely available and can provide you with enough power for a large number of modern devices. Despite the high costs of wind and solar power, this form of energy is also clean and safe. Moreover, solar energy is the most cost-effective source of energy. It is also the best option for a number of other applications, such as lighting, heating, and refrigeration.

Market Drivers:

Increasing adoption of geothermal power is expected to propel growth of the global green energy market over the forecast period. For instance, in May 2021, Google announced to partner with Fervo, a start-up company to develop a geothermal power system in Nevada to serve its regional data center.

Moreover, increasing adoption of offshore wind turbines is also expected to aid in growth of the global green energy market. For instance, according to the U.K.’s Department for Business, Energy and Industrial Strategy, wind generated 30% of the UK’s power in the first quarter of 2020, more than the previous record of 22.3% set in the fourth quarter of 2019, with 15.2% coming from offshore capacity and 14.7% from onshore.

Market Opportunities:

Increasing funding to boost adoption of wind power is expected to offer lucrative growth opportunities for players in the global green energy market. For instance, in May 2020, The Australian Renewable Energy Agency granted US$ 1.11 million to a feasibility study of BP Plc for producing hydrogen using wind and solar power.

Moreover, increasing funding in biofuels is also expected to aid in growth of the market. For instance, in August 2021, the government of Alberta announced to fund a new biofuel facility with US$ 3.75 million. Earlier, in July 2021, Department of Energy, U.S. granted US$ 1.5 million for R&D in metabolism of a blue-green algae that holds great promise for biofuel production.

Market Trends:

Major players in the global green energy market are focused on gaining contracts to enhance their market share. For instance, in August 2020, GE Renewable Energy was selected to supply Cypress wind turbines for the construction and long-term operation of the 209 MW Murra Warra II wind farm in Victoria, Australia.

Major players operating in the global green energy market are also focused on starting new plants to enhance their market share. For instance, in July 2021, Fulcrum BioEnergy, Inc. completed construction of commercial-scale plant converting household garbage into low-cost, zero-carbon transportation fuels.

Competitive Landscape:

Major players operating in the global green energy market include, ABB Ltd., Alterra Power Corporation, Calpine Corporation, Enercon GmbH, GE Energy, Hanwha Q Cells GmbH, Kyocera Solar, Inc., Nordex SE, Sharp Corporation, Suzlon Energy Ltd., U.S. Geothermal Inc., and Yingli Green Energy Holding Co. Ltd.

The global green energy market is witnessing several M&A activities. For instance, in August 2020, First Solar, Inc. entered into a Membership Interest Purchase Agreement with NovaSource Power Services, pursuant to which NovaSource will acquire First Solar’s North American Operations and Maintenance (O&M) business.

Major players operating in the global green energy market are focused on enhancing the efficacy of solar cells. For instance, in February 2020, Panasonic Corporation reported that its perovskite solar module achieved an energy conversion efficiency of 16.09%. The increase in efficacy was attributed to the development of lightweight technology using a glass substrate and a large-area coating method based on inkjet printing.

Market Segmentation:                                                                                     

On the basis of product type, the global green energy market is segmented into:

  • Solar Photovoltaic
  • Wind Energy
  • Hydroelectric Power
  • Biofuels
  • Geothermal Energy

On the basis of application, the global green energy market is segmented into:  

  • Residential
  • Commercial
  • Industrial

Global Green Energy Market, By Region:

  • North America
    • By Country:
    • U.S.
    • Canada
  • Europe
    • By Country:
    • U.K.
    • Germany
    • Italy
    • France
    • Spain
    • Russia
    • Rest of Europe
  • Asia Pacific
    • By Country:
    • China
    • India
    • Japan
    • ASEAN
    • Australia
    • South Korea
    • Rest of Asia Pacific
  • Latin America
    • By Country:
    • Brazil
    • Mexico
    • Argentina
    • Rest of Latin America
  • Middle East & Africa
    • By Country:
    • GCC Countries
    • Israel
    • South Africa
    • Rest of Middle East & Africa
Tags: Coherent Market InsightsGreen Energy
ShareTweetShare
Urja Daily

Urja Daily

Related Posts

Electric Vehicle Market

Electric Vehicle Market

by Palak
June 30, 2025
0

1. Solid-State Batteries: Redefining Energy Density and Safety Solid-state batteries represent one of the most eagerly anticipated advancements in EV...

EV Adoption Accelerates

Key Growth Drivers of the U.S. Charging-as-a-Service Market

by Palak
June 27, 2025
0

The rapid transition towards clean energy and sustainable mobility has placed electric vehicles (EVs) at the forefront of the transportation...

LDPE Market

Top 5 Emerging Opportunities in the LDPE Market

by Palak
June 25, 2025
0

The Low Density Polyethylene Market is witnessing a significant surge in demand across multiple sectors. From flexible packaging to agriculture and...

E-bike

E-bike Market Trends 2025: What Every Investor and Manufacturer Needs to Know

by Palak
June 19, 2025
0

As the world shifts toward sustainable transportation, the electric bike or e-bike industry is gaining remarkable momentum. Investors and manufacturers...

Automotive HMI Market

Top 7 Trends Shaping the Automotive HMI Market in 2025

by Palak
June 17, 2025
0

The Automotive Human Machine Interface (HMI) Market is undergoing a transformative shift as vehicles become more intelligent, connected, and user-centric. In...

Next Post
SUPERSAGA-1

Alpha Motor Corporation SUPERSAGA Pure Electric Performance

Wind-tree-

The Value of Wind Tree Market Estimated to Soar Higher

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

RECOMMENDED

Electric Vehicle Market

Electric Vehicle Market

June 30, 2025
LEAP24

LEAP24 Speeds Up London EV Charging Expansion with Four New Ultra-Rapid Sites in One Week

June 30, 2025

MOST VIEWED

  • Hydrom

    Hydrom and Thyssenkrupp Nucera Partner for Green Hydrogen Projects in Oman

    0 shares
    Share 0 Tweet 0
  • SFC India Selected Dassault Systèmes for Indigenization and Digital Transformation of Wastewater Treatment Plants

    0 shares
    Share 0 Tweet 0
  • Juniper Green Energy Secures 1 GW Solar Module Deal with First Solar

    0 shares
    Share 0 Tweet 0
  • PGCIL Wins ISTS Project for Renewable Energy Integration in Karnataka

    0 shares
    Share 0 Tweet 0

Electric Vehicle Market

LEAP24 Speeds Up London EV Charging Expansion with Four New Ultra-Rapid Sites in One Week

Eurowind Energy Invests €174.8 Million to Develop 220 MW Solar Park in Romania

Egypt’s AMEA Power Achieves Financial Closure for 300 MWh BESS Project

Arevon Begins Operations of 200 MW Energy Storage Project in San Diego

Cummins India Launches Battery Energy Storage System to Support Clean Energy Transition

Latest Magazine

© 2016 – 2025 TechZone Print Media | All Rights Reserved

  • About Us
  • Contact Us
No Result
View All Result
  • News
  • Renewable
    • Solar
    • Rooftop
    • Floating Solar
    • Module
    • Wind
    • Hydrogen
    • Biomass
    • Tenders
    • Sustainibility
  • Storage
  • E-Mobility
  • EV Battery
  • Smart City
  • Power
    • Smart Grid
    • Microgrid
    • Off-Grid
  • Editor’s Pick
    • Articles
    • In Talks
    • E-MAG
    • Market Research
  • On-demand Webinars
  • More
    • Events
    • Contact Us
    • Subscribe

© 2016 - 2025 TechZone Print Media | All Rights Reserved