Global Green Energy Market to Reach USD 831.99 Billion in 2019
With mounting energy demands and diminishing resources for the same, there has arisen an urgent need for sustainable and renewable green energy from across the globe. This, according to a new research report published by Transparency Market Research, is one of the major factors fueling the growth of the global green energy market. The report is titled “Global Green Energy Market – Industry Analysis, Market Size, Share, Growth, Trends and Forecast, 2013 – 2019”.The report states that the worldwide market for green energy stands to grow from US$470.10 billion in 2012 to US$831.99 billion in 2019, at a CAGR of 8.3% during the forecast period.
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Segmenting the green energy market on the basis of energy type, end user, and geography, the research report provides crucial statistics on the market size and forecast of each segment. By energy type, the green energy market is divided into wind energy, bio-fuels, hydroelectric power, geothermal energy, and solar photovoltaic (PV). The segment of solar photovoltaic includes solar PV inverters, which can be further fragmented into central inverters, micro-inverters, and string inverters. By end user, the green energy market is categorized into commercial, residential, and industrial. Geographically, the global market for green energy is divided into North America, Europe, Asia Pacific, and Rest of the World. Regionally, North America dominated the global green energy market in 2012 in terms of revenue and held a 32.2% share of the overall market. Driven by rising investments in renewable energy sources and surging energy demands, the Asia Pacific green energy market is projected to develop at a CAGR of 10.3% during the forecast period of 2013 to 2019.
The commercial sector was the largest end-use segment of the green energy market in 2013, with the industrial segment following next. However, registering a 9.4% CAGR from 2013 to 2019, the residential sector is estimated to become the fastest growing end-user segment and stimulate the growth of the green energy market. Although hydropower was the largest energy segment in 2012 owing to a massive pre-installed base, solar PV is estimated to be the fastest developing energy segment by the end of 2019 thanks to increased consumer interest and demand. The solar PV segment was worth US$7.15 billion in 2012 and is projected to expand at a CAGR of 14.6% from 2013 to 2019. Even though this segment witnessed a decline in revenue in 2013, it picked up pace last year and is predicted to continue its streak over the next four years.
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The research report identifies, profiles, and evaluates the major players operating in the green energy market and includes key attributes such as company and financial overview, recent developments, business strategy, and SWOT analysis. Some of the prominent companies featured in the green energy market report are Calpine Corporation, Yingli Green Energy Holding Co. Ltd., Enercon GmbH, Archer Daniels Midland Company, GE Energy, Suzlon Energy Ltd., Hanwha Q Cells GmbH, Nordex SE, Enphase Energy Inc., ABB Ltd., Alterra Power Corporation, JA Solar Holdings Co. Ltd., Kyocera Solar Inc, Suntech Power Holdings Co. Ltd., First Solar Inc, and U.S. Geothermal Inc. In the year 2012, the global green energy market was rather fragmented with numerous local as well as global players competing across various market segments.
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