Renewable energy market size, share and global top manufacturers| get insight report forecast 2018 -

Renewable Energy Global Market – Overview

Most new renewable energy capacity is installed in developing countries, and largely in China, the single largest developer of renewable power and heat over the past eight years. In 2016, renewable energy spread to a growing number of developing and emerging economies, some of which have become important markets. The renewable energy sector employed 9.8 million people in 2016, an increase of 1.1% over 2015. By technology, solar PV and biofuels provided the largest numbers of jobs. Employment shifted further towards Asia, which accounted for 62% of all renewable energy jobs (not including large-scale hydropower), led by China. In 2016, World Energy Council quoted that, hydropower accounted for about 30% of the total global installed power generating capacity and about 23% of total global electricity produced. The tremendous yearly addition in capacity of renewable energy is certainly boosting the renewable energy globally. The development of community renewable energy projects continued in 2016, but the pace of growth in some countries is in decline. In a new trend, such projects have begun to expand into energy retailing (supply), storage and demand-side management. Government policy at all levels remained important for renewable energy developments. The 2015 Paris Agreement of the United Nations Framework Convention on Climate Change (UNFCCC) formally entered into force at the 22nd Conference of the Parties (COP22) in November 2016. However, renewable energy markets were affected only indirectly during the year. A number of governments implemented new renewable energy targets, and several cities established new commitments to 100% renewable energy. Despite the importance of the heat and transport sectors to energy demand and global emissions, policy makers focused predominantly on the power sector.

The global renewable energy market is regionally divided into Europe, Asia Pacific, North America, and Rest of the World. At present, the global market for renewable energy is dominated by Asia Pacific owing to the mandates issued by governments of many nations for minimizing the emissions of greenhouse gas. Europe is predicted to be the second largest market for renewable energy owing to the advancement in the technology and the availability of new forms of energy across the region. Ocean energy and offshore wind energy are two of the forms of renewable energy sources in Europe.

TOP KEY PLAYER: -

Some of the key players Vestas Wind Systems, Calpine Corporation, Enel Green Power, Suzlon Energy Ltd., GE Energy, Siemens, Enercon., Pelamis Wave Power and Yingli Solar are some of the prominent players profiled in MRFR Analysis and are at the forefront of competition in the global renewable energy market.

Regional Analysis of Renewable Energy Market:

North America is expected to dominate the Renewable Energy market mainly due to the favorable government regulations. The integration of renewable energy is expected to increase in the North American region providing the market with scope for further growth. Europe and Asia-Pacific are the other major regions for the Renewable Energy market due to boost in the manufacturing sector in these regions.

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