The global renewable energy market will grow at an annual average of 8% over the forecast period (2021-2027). The market is expected to reach a value in excess of US$290 billion by the end of 2027. Renewable energy comes from sources with finite ends such as solar, wind and hydropower. These primary renewable energy sources are constantly replenished and never exhausted, unlike conventional energy sources that are costly and harm the environment. Growing concerns about the environmental impact of burning fossil fuels are accelerating the adoption of renewable energy sources. In addition, increasing energy consumption worldwide is fueling the search for new sustainable energy resources in the future.
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A full report of Renewable Energy Market available at: https://www.orionmarketreports.com/covid-19-impact-on-renewable-energy-market/45654/
Some of the major players in the market include ABB Ltd., General Electric (GE), The Tata Power Company Limited (Tata Power), Innergex, Enel Spa (Enel), Xcel Energy Inc. (Xcel Energy), EDF, Geronimo Energy, Invenergy, and ACCIONA.
Renewable Energy Market Segemets:
By Type
• Hydroelectric Power
• Wind Power Energy
• Bioenergy
• Solar Energy
• Geothermal Energy
By End Use
• Residential
• Commercial
• Industrial
• Others
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