Renewable Energy Market Size growing at CAGR of 14.23% by 2030 | NextEra Energy, JinkoSolar Holding Co. Ltd, Iberdrola, S.A.

The global renewable energy market is projected to grow from 5.27 thousand gigawatts in 2025 to 10.24 thousand gigawatts by 2030, reflecting a compound annual growth rate (CAGR) of 14.23%. This surge is largely attributed to increased solar and wind installations, supportive government policies, and rising demand across residential and industrial sectors. The renewable energy market is undergoing a major shift as countries and corporations seek cleaner alternatives to fossil fuels. With climate concerns intensifying and energy security becoming a priority, renewable sources like solar, wind, hydropower, and bioenergy are gaining traction globally.

Emerging Trends in the Global Renewable Energy Market

Solar Energy Expansion

Solar power continues to dominate new capacity additions. Photovoltaic installations are increasing across rooftops, commercial buildings, and utility-scale farms. Countries like China, India, and the United States are investing heavily in solar infrastructure, supported by declining panel prices and favorable financing models.

Wind Energy Growth

Onshore and offshore wind projects are expanding rapidly. Europe remains a leader in offshore wind, while North America and Asia-Pacific are scaling up onshore installations. Improved turbine efficiency and longer blade designs are helping boost output even in low-wind regions.

Hydropower Stability

Hydropower remains a reliable source of base-load renewable energy. While large-scale projects face environmental scrutiny, small and micro-hydro systems are gaining popularity in remote and mountainous areas.

Bioenergy and Geothermal Uptake

Bioenergy is being used for electricity generation and heating, especially in agricultural economies. Geothermal energy, though limited to specific geographies, is seeing steady growth in countries like Indonesia, Kenya, and Iceland.

Residential and Commercial Demand

Homeowners and businesses are increasingly adopting rooftop solar and small wind systems. This shift is driven by rising electricity bills, energy independence goals, and improved access to financing.

Browse Full Report Details in Japanese Version: https://www.mordorintelligence.com/ja/industry-reports/global-renewable-energy-market-industry?utm_source=industrytoday

Renewable Energy Segmentation

The renewable energy market is segmented by technology, end-user, and geography. Each segment plays a distinct role in shaping the overall market dynamics.

By Technology:

• Solar Energy: Includes photovoltaic and concentrated solar power systems.
• Wind Energy: Covers both onshore and offshore wind installations.
• Hydropower: Encompasses large, small, and micro-hydro projects.
• Bioenergy: Involves biomass, biogas, and waste-to-energy systems.
• Geothermal Energy: Utilized for electricity and direct heating.
• Ocean Energy: Includes tidal and wave energy, still in early development stages.

By End-User:

• Utilities: Major buyers of large-scale renewable installations.
• Commercial and Industrial: Businesses adopting clean energy for cost savings and sustainability goals.
• Residential: Homeowners installing rooftop solar and small wind systems.

By Geography:

• Asia-Pacific: Largest market, led by China and India.
• South America: Fastest-growing region, with Brazil and Chile investing in solar and wind.
• North America: Strong growth in the U.S. and Canada, especially in solar and offshore wind.
• Europe: Mature market with a focus on offshore wind and bioenergy.
• Middle East and Africa: Emerging market with high solar potential.

Get Full Details on Key Players: https://www.mordorintelligence.com/industry-reports/global-renewable-energy-market-industry/companies?utm_source=industrytoday

Top Key Players

• NextEra Energy, Inc.
• Ørsted A/S
• Iberdrola, S.A.
• Vestas Wind Systems A/S
• JinkoSolar Holding Co. Ltd.

Conclusion: Renewable Energy Market Outlook to 2030

The renewable energy market is on a strong growth trajectory, expected to nearly double in installed capacity by 2030. Solar and wind will continue to lead, supported by hydropower and emerging technologies like bioenergy and geothermal.

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