The global renewable energy market is expected to continue its upward growth over the next years. According to the Group Next Move Strategy Consulting, the market will reach over two trillion U.S. dollars by 2030. Environmental concerns regarding fossil fuels, rapid urbanization, and economic growth in emerging regions are all major factors that are contributing to the projected market growth.

The global renewable energy market size is projected to grow from USD 1101.27 billion in 2025 to USD 2271.2 billion by 2033, exhibiting a CAGR of 9.47%.
Report Scope:

Renewable Energy Market size is predicted to reach USD 2,025.94 billion by 2030, with a CAGR of 9.6% from 2022 to 2030.

Global green energy market worth at USD 129.09 billion in 2024, is expected to surpass USD 534.17 billion by 2034, with a CAGR of 15.26% from 2025 to 2034.

The global green energy market size was valued at more than USD 195.12 billion in 2025 and is expected to register a CAGR of over 10.5%, exceeding USD 529.57 billion revenue by 2035, fueled by Growing Awareness Among People to Use Green Energy for Electricity

Renewable Energy Market Exploding at 14.6% CAGR! Discover critical insights driving the USD 5,840.13 billion opportunity by 2034. See why industry leaders are pivoting to solar power dominance

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Renewable Energy Market Size 2025-2029

The renewable energy market size is valued to increase USD 2266.2 billion, at a CAGR of 9.6% from 2024 to 2029. Rise in global energy demand will drive the renewable energy market.

Major Market Trends & Insights

APAC dominated the market and accounted for a 76% growth during the forecast period.
By End-user - Residential segment was valued at USD 1934.50 billion in 2023
By Type - Hydropower segment accounted for the largest market revenue share in 2023

Market Size & Forecast

Market Opportunities: USD 108.95 billion
Market Future Opportunities: USD 2266.20 billion
CAGR : 9.6%
APAC: Largest market in 2023

Market Summary

The market encompasses the production and utilization of electricity from renewable sources, such as solar, wind, hydro, and biomass. This dynamic market is driven by the rising global energy demand and the increasing popularity of clean energy technologies as a competitive alternative to traditional energy sources. According to recent reports, renewable energy sources accounted for approximately 27% of global electricity generation in 2020, with solar and wind energy leading the charge. However, the market faces challenges, including the intermittency of renewable energy sources and the high upfront costs of implementation.
Despite these hurdles, opportunities abound, particularly in the areas of energy storage solutions and grid integration. As the market continues to evolve, stakeholders can expect ongoing innovation and advancements in core technologies and applications, service types, and regulatory frameworks, with regional dynamics adding another layer of complexity.

What will be the Size of the Renewable Energy Market during the forecast period?

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How is the Renewable Energy Market Segmented and what are the key trends of market segmentation?

The renewable energy industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

End-user

  Residential
  Industrial
  Commercial


Type

  Hydropower
  Wind
  Solar
  Others


Deployment

  On-grid
  Off-grid


Geography

  North America

    US
    Canada


  Europe

    France
    Germany
    Italy
    UK


  Middle East and Africa

    Egypt
    KSA
    Oman
    UAE


  APAC

    China
    India
    Japan


  South America

    Argentina
    Brazil


  Rest of World (ROW)

By End-user Insights

The residential segment is estimated to witness significant growth during the forecast period.

In the rapidly evolving energy landscape, the market is experiencing significant growth as businesses and residential sectors shift towards sustainable energy sources. Renewable energy production from biomass, wind, hydroelectric power, and solar photovoltaic systems has seen a notable increase, reducing carbon emissions by approximately 15% in 2020 compared to 2015 levels. Furthermore, the market is expected to expand further, with renewable energy investment projected to reach 30% of total energy investment by 2025. Energy audit methodologies, renewable energy certificates, and smart grids integration are crucial components driving the market's growth. Offshore wind farms, wave energy converters, and tidal energy conversion are gaining traction as promising new technologies, while grid stability analysis and energy storage systems ensure a reliable power supply.

The renewable energy sector is also witnessing advancements in onshore wind turbines, geothermal energy extraction, and concentrated solar power, among others. Moreover, the integration of demand-side management, battery energy storage, microgrids development, and pumped hydro storage into the energy infrastructure is essential for optimizing power system performance and ensuring grid modernization projects' success. The market's continuous evolution is essential in addressing the increasing energy demand while minimizing greenhouse gas emissions and promoting sustainable energy sources. In conclusion, the market is experiencing substantial growth, with a projected expansion in investment and production. The integration of various technologies and policies is crucial in ensuring a reliable, efficient, and sustainable energy future.

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The Residential segment was valued at USD 1934.50 billion in 2019 and showed a gradual increase during the forecast period.

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Regional Analysis

APAC is estimated to contribute 76% to the growth of the global market during the forecast period.Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

See How Renewable Energy Market Demand is Rising

The United States Renewable Energy Market Report is Segmented by Technology (Solar Energy, Wind Energy, Hydropower, Bioenergy, Geothermal, and Ocean Energy) and End-User (Utilities, Commercial and Industrial, and Residential). The Market Sizes and Forecasts are Provided in Terms of Installed Capacity (GW).

India's Renewable Energy Market is set to grow from USD 24 Billion in 2024 to USD 37 Billion by 2030, with a 9% CAGR from 2025-30, driven by sustainable energy initiatives.

Uncover the Renewable Energy Market, valued at USD 1080 Billion in 2024, projected to reach USD 1918 Billion by 2030, growing at a 12.17% CAGR during 2025-30.

The renewable energy market is projected to reach **** trillion U.S. dollars worldwide in 2025. The growth in the renewable energy market has seen the propensity for non-renewable energy sources, such as coal, subsiding and the demand for renewable sources rising as long-term cost-effectiveness becomes increasingly feasible. Renewable sources like wind and solar have reached price parity along the electricity grid and are getting ever closer to reaching the performance potential of conventional sources. Increased use of technological advancements like automation, artificial intelligence, and blockchain will also increase renewable capacity deployment by decreasing costs and easing the integration of new energy infrastructure. Clean energy investment Clean energy investment has also generally risen in the past decade. Lower investment figures during this time are usually due to the reduction in project development costs. Investors focusing on long-term investments over short-term will also drive these investment trends. It is estimated that clean energy investment must accelerate to a faster pace in order to reduce emissions to levels recommended by the United Nations Intergovernmental Panel on Climate Change (IPCC).

Renewable Energy Market Outlook

According to our latest research, the global renewable energy market size reached USD 1,260 billion in 2024, driven by robust investments, favorable government policies, and increasing environmental awareness. The market is anticipated to grow at a CAGR of 8.7% from 2025 to 2033, projecting a value of approximately USD 2,620 billion by the end of the forecast period. This significant growth trajectory is propelled by the urgent need to decarbonize energy systems, escalating energy demand, and rapid technological advancements across all renewable energy segments.

One of the primary growth factors for the renewable energy market is the global shift towards sustainable energy sources to combat climate change and reduce greenhouse gas emissions. Governments worldwide are implementing stringent regulations and setting ambitious renewable energy targets, which are fostering large-scale investments in solar, wind, hydropower, bioenergy, and geothermal energy. The declining cost of renewable energy technologies, especially in solar photovoltaic (PV) and wind power, has further accelerated adoption across residential, commercial, industrial, and utility-scale applications. Additionally, international agreements such as the Paris Accord have catalyzed both public and private sector initiatives, ensuring consistent momentum for renewable energy deployment.

Another critical growth driver is the increasing demand for energy security and diversification of the energy mix. As countries aim to reduce their reliance on fossil fuels and volatile energy imports, renewable energy offers a resilient and sustainable alternative. The adoption of decentralized energy generation models, coupled with advancements in energy storage and smart grid technologies, has enabled greater integration of renewables into existing power infrastructure. This transition is further supported by the electrification of sectors such as transportation and heating, which creates new avenues for renewable energy utilization and market expansion.

Technological innovations and digitalization are also playing a pivotal role in enhancing the efficiency and scalability of renewable energy systems. Breakthroughs in energy storage, grid integration, and predictive analytics have improved the reliability and cost-effectiveness of renewables, making them increasingly attractive for both established and emerging markets. The proliferation of distributed energy resources, such as rooftop solar and community wind projects, is democratizing energy access and empowering consumers to actively participate in the energy transition. These trends are expected to sustain the strong growth momentum of the renewable energy market over the next decade.

Regionally, the Asia Pacific region continues to dominate the renewable energy market, accounting for the largest share in 2024, followed closely by Europe and North America. Rapid industrialization, urbanization, and proactive policy frameworks in countries such as China, India, and Japan have positioned Asia Pacific as a global leader in renewable energy capacity additions. Europe remains at the forefront of innovation and policy support, while North America benefits from abundant natural resources and a mature investment ecosystem. Emerging markets in Latin America, the Middle East, and Africa are also witnessing increased activity, driven by favorable climatic conditions and growing energy demand. Each region presents unique opportunities and challenges, shaping the overall dynamics of the global renewable energy market.

In recent years, the integration of Mining Renewable Energy Systems has gained traction as a pivotal strategy for enhancing the sustainability of mining operations. These systems leverage renewable energy sources such as solar and wind to power mining activities, reducing reliance on fossil fuels and minimizing environmental impact. By harnessing renewable energy, mining companies can significantly lower their carbon footprint and operational costs, while also ensuring a more stable and resilient energy supply. This approach not only aligns with global sustainability goals but also enhances the social license to operate by demonstrating a commitment to environmental stewardship. As the renewable energy market continues to expand

The India Renewable Energy Market Report is Segmented by Technology (Solar Energy, Wind Energy, Hydropower, Bioenergy, Geothermal, and Ocean Energy) and End-User (Utilities, Commercial and Industrial, and Residential). The Market Sizes and Forecasts are Provided in Terms of Installed Capacity (GW).

Global renewable energy certificate market was valued at US$ 15.38 Billion in 2024 and is set to reach US$ 233.81 Billion by 2034 at a CAGR of about 28.2%.

Renewable Energy Market is projected to reach USD 4,393.6 Billion by 2034, with a 12.9% CAGR from 2025 to 2034.

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Renewable Energy Investment Market Size 2024-2028

The renewable energy investment market size is forecast to increase by USD 181.9 billion at a CAGR of 8.11% between 2023 and 2028.

The market is experiencing significant growth, driven by supportive government policies and increased spending on utility-scale projects. According to the latest market analysis, the global renewable energy sector is anticipated to witness substantial investments due to the increasing focus on reducing carbon emissions and transitioning away from fossil fuels. Governments worldwide are implementing policies and incentives to promote renewable energy adoption, creating a favorable business environment for investors. Moreover, the trend towards large-scale renewable energy projects is gaining momentum, with utility-scale solar and wind farms attracting substantial investments. However, the market is not without challenges. Competition from traditional energy sources, particularly fossil fuels, remains a significant barrier to growth. The volatility of renewable energy sources and the intermittency of solar and wind power generation are also concerns for investors. To capitalize on market opportunities and navigate challenges effectively, companies must stay informed about regulatory developments, technological advancements, and market trends. Strategic partnerships, innovation, and operational efficiency will be key differentiators for success in the market.

What will be the Size of the Renewable Energy Investment Market during the forecast period?

Request Free SampleThe market in the US is experiencing growth, driven by the increasing deployment of solar technology and offshore wind for electricity generation. Utility-scale solar projects are leading the charge, with capacity additions expected to continue due to grid resilience and energy affordability concerns. Federal investments and energy security considerations are also significant growth factors, as the US seeks to reduce greenhouse gas emissions in line with the Paris Agreement and various clean energy laws. Policy developments, such as renewable portfolio standards and tax-credit transfer markets, are further fueling the market's expansion. The manufacturing sector is also playing a crucial role, with advancements in solar, wind, and biofuels technology driving innovation and efficiency. The renewable energy sector's growth is not limited to the US, as the EU and other regions are also making substantial investments in renewable energy. The IEA assessment indicates that renewable energy will continue to dominate new electricity capacity additions, with biofuels and generative artificial intelligence also playing a role in the energy transition. The energy crisis and decarbonization targets are further emphasizing the importance of renewable energy in the power system integration. The UN Climate Change Conference's Energy Transitions Stocktake and the Paris Agreement's policy developments are also influencing the market's direction. Overall, the renewable energy market is a dynamic and growing sector, with significant potential for continued expansion.

How is this Renewable Energy Investment Industry segmented?

The renewable energy investment industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2024-2028, as well as historical data from 2018-2022 for the following segments. TypeAsset financeSmall distributed capacityGeographyAPACChinaJapanNorth AmericaUSEuropeGermanySouth AmericaBrazilMiddle East and Africa

By Type Insights

The asset finance segment is estimated to witness significant growth during the forecast period.The market is experiencing significant growth as businesses seek energy affordability and decarbonization solutions amidst increasing energy crisis and regulatory boosts. companies offering financial services for renewable power projects, such as the Clean Energy Finance Corporation, are playing a crucial role in this expansion. These entities provide investments for small-scale clean energy projects, enabling businesses, manufacturers, commercial property owners, and farmers to transition to a low-emission future. However, investments in solar thermal projects, including concentrated solar power (CSP) and solar heating systems, have declined, with offshore wind now holding the third-largest share of investments at 7%. Hydroelectric power accounts for 4%, while other renewables account for 3%. Policy developments, such as renewable portfolio standards and clean energy laws, are driving the demand for fossil fuel alternatives, particularly wind technology and solar PV. Infrastructure investment in distributed systems, grid resilience, and power system integration is also essential for the competitiveness of renewable energy. Despite challenges, such as labor costs, transmission limitations, and permitting del

The Germany renewable energy market size reached USD 43.1 Billion in 2024. Looking forward, IMARC Group expects the market to reach USD 104.8 Billion by 2033, exhibiting a growth rate (CAGR) of 10.37% during 2025-2033. The market is driven by the growing number of solar power plants, rising offshore and onshore wind energy capacity, technological advancements, public awareness and support, grid infrastructure development, and policies and initiatives by governing agencies.

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the country level for 2025-2033. Our report has categorized the market based on type and end user.

• The global industry was valued at US$ 940.4 Bn in 2023
• It is estimated to advance at a CAGR of 12.4% from 2024 to 2034 and reach US$ 3.4 Trn by the end of 2034

Market Introduction

Regional Outlook

Alternative Energy Market Snapshot

United Kingdom Renewable Energy Market Outlook 2031

United Kingdom renewable energy market size was valued at USD XX Billion in 2022 and is projected to reach USD XX Billion by 2031, expanding at a CAGR of 10.04% during the forecast period 2023 - 2031. The growth of the market is attributed to increasing energy consumption, traditional power sources unable to meet requirement, and growing numbers in renewable energy manufactures.

Renewable energy can be supplied to tides, waves, rain, and wind. While renewable energy is commonly thought of as a replacement technology, harnessing nature’s power has long been used for transportation, lighting, and heating. Now there are innovative and less-expensive ways to capture and retain wind and solar energy renewables are getting an additional necessary power supply.

The COVID-19 outbreak was not able to affect the renewable energy corporation. Renewable energy market players faced several problems vary from getting component require to develop renewable energy and providing end products to attracting workers from quarantines.

The coronavirus-driven internment places a brake on the element and device production that increased product costs, lowering the market demand. However, the renewable energy trade is returning to traditional, witnessing the steady increasing energy demand, particularly from the commercial sectors.

United Kingdom Renewable Energy Market Trends, Drivers, Restraints, and Opportunities

• Increase in consumer purchasing capacity and growing population is projected to boost the market in the coming year.
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The Global Renewable Energy Investments Market Size Was Worth USD 1360.70 Billion in 2023 and Is Expected To Reach USD 3,104.97 Billion by 2032, CAGR of 9.60%.