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The Renewable Energy market latest Brief 2022 is growing pervasively, witnessing an exponential growth backed by the increasing investments, competitive activities, global developments, opportunity, and business trends during forecast period till 2030. Incorporating acquisition, collaboration, partnership, and expansion the well-established players gain the competitive advantage to maintain their market position.
Renewable Energy Market Overview
Renewable Energy Market share is predicted value of USD 2172.37 billion by the end of 2030, with a compound annual growth rate (CAGR) of 10.13% throughout the projected timeframe. Renewable energy inverters are used to convert DC to AC. The inverters are used both in residential and non-residential applications. For instance, residential inverters are used to convert DC generated from solar panels to AC. Non-residential renewable energy inverters are used to convert DC into AC before transmitting them to end-users.
Renewable Energy market demonstrates a high growth potential which is likely to attract many entrants to the market resultantly, intensifying the competition further. Manufacturers strive to develop innovative materials, and best practices. Also, they make substantial investments in manufacturing & expansion program. Expansions help in reducing logistic cost and increase production capacities and potential to fetch larger turnovers.
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Globally Major key Players accelerates the Renewable Energy Market are, ABB Ltd.,Ocean Power Technologies,Ørsted,GE,NextEra Energy, Inc.,Enel Group,ONPOWER Business Energy,Yingli Solar,Tocardo BV,SynTech Bioenergy,Vestas,Siemens AG,Canadian Solar Inc.,Invenergy LLC,Geronimo Energy Holdings LLC,EDF,Xcel Energy,Innergex,TATA Power,ABB Product Group Solar
Most important Segments of Renewable Energy market covered in this report are, the global renewable energy inverters market has been segmented based on product type and application. Based on product type, the global market is divided into central inverters, micro-inverters, off-grid inverters, grid-tied inverters, and battery-based inverters. The grid-tied inverters segment is expected to hold the largest share of the market during the forecast period due to the increasing installations of large-scale renewable energy projects. Based on the application, the global market is segmented into residential and non-residential. The non-residential segment is expected to register the highest CAGR during the forecast period as large-scale utilities are increasingly focusing on the adoption of renewable energy sources for electricity generation.
Product Type
Application
Renewable Energy Industry Influence of the global market report:
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The global Renewable Energy market during the period has been split into several segments and subsegments, which have then been verified through primary research by conducting extensive interviews with key experts such as CEOs VPs, directors, and executives. Finally, the global market breakdown and data triangulation procedures have been employed to complete the overall market engineering processes and functions and hence, arrive at the exact statistics for all segments and subsegments.
Renewable Energy Market Regional Analysis
The global renewable energy inverters market has been segmented into five regions, namely, Asia-Pacific, the Middle East & Africa, Europe, North America, and South America. Asia-Pacific is expected to hold the largest share of the market during the forecast period. This is primarily as countries in the region are extensively focused on developing renewable energy sources to reduce carbon emissions. In Asia-Pacific, China held the largest share in the market and is expected to register the highest CAGR during the forecast period, due to the availability of renewable energy resources in the country. In North America, the US held the largest market share in 2019 and is expected to grow at the fastest rate during the forecast period, primarily due to the high demand for electricity in the country. In Europe, Germany held the largest market share in 2019 due to extensive government support to introduce renewable energy sources. The renewable energy inverters market is expected to register the highest CAGR in Italy during the forecast period due to the increasing demand for electricity in the country. In the Middle East & Africa region, Saudi Arabia held the largest market share in 2019 due to the increasing dependency on renewable energy sources for electricity generation in the country. However, the renewable energy inverters market is expected to exhibit the highest CAGR in the UAE, as the country’s government is focused on increasing its share of renewable energy in the nation’s energy mix.
LIST OF TABLES/TABLE OF CONTENT
TABLE 1 MARKET SYNOPSIS 14
TABLE 2 LIST OF ASSUMPTIONS 23
TABLE 3 GLOBAL RENEWABLE ENERGY MARKET, BY TYPE, 2020–2027 (USD BILLION) 31
TABLE 4 GLOBAL RENEWABLE ENERGY MARKET, BY INDUSTRIAL, 2020–2027 (USD BILLION) 35
TABLE 5 GLOBAL RENEWABLE ENERGY MARKET, BY END-USE, 2020–2027 (USD BILLION) 36
TABLE 6 GLOBAL RENEWABLE ENERGY MARKET, BY REGION, 2020–2027 (USD BILLION) 38
TABLE 7 NORTH AMERICA RENEWABLE ENERGY MARKET, BY COUNTRY, 2020–2027 (USD BILLION) 39
TABLE 8 NORTH AMERICA RENEWABLE ENERGY MARKET, BY TYPE, 2020–2027 (USD BILLION) 40
TABLE 9 NORTH AMERICA RENEWABLE ENERGY MARKET, BY END-USE, 2020–2027 (USD BILLION) 40
TABLE 10 US: RENEWABLE ENERGY MARKET, BY TYPE, 2020–2027 (USD BILLION) 41
TABLE 11 US: RENEWABLE ENERGY MARKET, BY END-USE, 2020–2027 (USD BILLION) 41
TABLE 12 CANADA: RENEWABLE ENERGY MARKET, BY TYPE, 2020–2027 (USD BILLION) 42
TABLE 13 CANADA: RENEWABLE ENERGY MARKET, BY END-USE, 2020–2027 (USD BILLION) 42
TABLE 14 MEXICO: RENEWABLE ENERGY MARKET, BY TYPE, 2020–2027 (USD BILLION) 43
TABLE 15 MEXICO: RENEWABLE ENERGY MARKET, BY END-USE, 2020–2027 (USD BILLION) 43
TABLE 16 ASIA-PACIFIC RENEWABLE ENERGY MARKET, BY COUNTRY, 2020–2027 (USD BILLION) 44
TABLE 17 ASIA-PACIFIC RENEWABLE ENERGY MARKET, BY TYPE, 2020–2027 (USD BILLION) 45
TABLE 18 ASIA-PACIFIC RENEWABLE ENERGY MARKET, BY END-USE, 2020–2027 (USD BILLION) 45
TABLE 19 CHINA RENEWABLE ENERGY MARKET, BY TYPE, 2020–2027 (USD BILLION) 46
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