In recent years, scrutiny over the environmental impact of more traditional energy sources has translated into a rapid growth of renewables. The share of energy from renewable sources used in electricity generation worldwide has been rising annually, reaching roughly 31.9 percent in 2024. Increasing capacity and production As renewable shares continue to grow, so does the installed capacity. Since 2010 the cumulative renewable energy capacity has risen from 1.2 terawatts to 4.4 terawatts in 2024. Renewable electricity production has also increased significantly, rising to 8.4 petawatt hours in 2022. Despite this impressive and steady growth, the consumption of renewable energy still pales in comparison when compared to fossil fuel energy consumption. Consumption on the rise In the past two decades, global consumption of renewables has risen from just 31 exajoules in 2000, to over 90 exajoules in 2023. Globally, both China and the United States are the leading consumers of renewable energy, with a combined consumption of 38 exajoules.

In 2024, renewable sources accounted for 24.11 percent of the electricity generated in the United States. The share of renewables in the country's electricity generation has been continually increasing for over a decade. In addition, renewables accounted for over 90 percent of the power capacity additions in the U.S. in the same year. Renewable energy sources in the U.S. Wind power was the leading renewable energy source in the country, accounting for over 10 percent of the total electricity supply in the U.S., followed by hydropower. Renewable energy generation in the U.S. amounted to 894 terawatt-hours in 2023. The growth of renewables in the U.S. According to a recent forecast, the renewable electricity capacity in the U.S. is projected to triple between 2022 and 2040 in a reference scenario, although this figure could be higher in the case of low renewable cost. In 2023, onshore wind and solar photovoltaic energy had some of the lowest levelized cost of electricity in the country.

The share of renewable energies in electricity generation in Sweden grew from 57.25 percent in 2000 to 69.45 percent in 2023. Sweden is one of the countries with the highest penetration of renewables worldwide, and produces most of its electricity from hydropower, which accounted for roughly 38 percent of the total generation in 2024. Wind energy is also a growing contributor to the country’s energy mix, accounting for a share of 25 percent during that year. By 2030, Sweden aims to reach a 100 percent share of renewables in electricity. Renewable energy expansion across sectors Sweden's progress in renewable electricity generation aligns with its broader efforts to integrate clean energy across various sectors. In 2022, renewables accounted for 66 percent of total energy consumption, the highest share recorded in recent years. This comprehensive approach extends to heating and cooling, where renewable sources made up 67.1 percent of the energy mix in 2023. Solid biofuels, biogas, and renewable waste are some of the main sources used in renewable heating in Sweden. The consistent renewable adoption across different sectors reflects Sweden's holistic approach to sustainable energy.
Sweden’s renewable capacity and generation Sweden's total renewable energy capacity reached approximately 40.6 terawatts in 2023, growing by more than 50 percent since 2009. This capacity growth has translated into increased generation, with renewable electricity production reaching 120 terawatt hours in 2024. These figures cement Sweden's position as one of the countries with the highest share of renewables over the total energy consumption.

Greater awareness about the effects of climate change has driven an aggressive decarbonising strategy spearheaded by renewables. Government targets and incentives encourage major investment in renewable assets among UK energy giants. Technology developments have boosted potential generating capacity, particularly in offshore wind, which has grown the fastest of all renewable energy sources. According to the Department for Energy Security and Net Zero, the share of electricity generated by major power producers from renewables surged from 34.5% in 2019-20 to 42.4% in 2023-24. Renewable generators' revenue is slated to climb at a compound annual rate of 8.7% over the five years through 2024-25 to reach £14.5 billion. Growth has been underpinned by the UK’s rapid expansion of renewable generating capacity. Offshore wind has recorded the most significant expansion in generation volumes as investors look to take advantage of technological advancements to tap into the UK's abundant natural resources. Soaring wholesale prices have added to revenue growth since H2 2021-22; however, operators of renewable generation assets that operate under a Contract for Difference (CfD) have been required to pay back the difference between wholesale prices and CfD strike prices, limiting the impact of a surge in wholesale prices on operating profit. Inflation-linked increases to fixed price mechanisms have also boosted growth. Revenue is forecast to jump by 11.4% in 2024-25. Revenue is forecast to swell at a compound annual rate of 11.1% over the five years through 2029-30 to reach £24.6 billion. The UK already has a strong pipeline of renewable assets set for delivery in the coming years, with ongoing government support likely to fuel further investment. In the short term, increased capacity is set against a backdrop of falling strike prices, though the extent of capacity expansion should support further growth. Hikes in strike prices secured in the most recent CfD allocation round will also boost growth in the longer term. Rising battery storage capacity should help support growth in renewables' share of the UK energy mix by reducing barriers associated with intermittent supplies of renewable power.

The size of the North America Power Industry market was valued at USD XX Million in 2023 and is projected to reach USD XXX Million by 2032, with an expected CAGR of % during the forecast period. The power industry in North America is experiencing a profound transformation, influenced by advancements in technology, changes in regulations, and evolving energy requirements. This sector, which includes the generation, transmission, and distribution of electricity, is essential to the economic framework of the region, catering to both residential and industrial consumers. Recent developments indicate a marked shift towards cleaner and more sustainable energy options, particularly renewables, while still maintaining a significant dependence on natural gas. This transition is driven by a mix of environmental regulations, technological progress, and an increasing focus on minimizing greenhouse gas emissions. The North American power industry is shaped by several key factors, including the growing incorporation of renewable energy sources such as wind and solar, which are altering the energy landscape and prompting necessary upgrades to grid infrastructure to enhance reliability and adaptability. Innovations in energy storage and smart grid technologies are also critical, improving the efficiency and stability of power distribution systems. Furthermore, regulatory frameworks and incentives designed to encourage energy efficiency and lower carbon emissions are expediting the adoption of cleaner technologies. As the region continues to progress through its energy transition, the North American power industry is set for expansion, characterized by a combination of upgraded infrastructure, cutting-edge technologies, and a robust commitment to sustainability. This transformation mirrors broader global movements towards cleaner and more resilient energy systems. Recent developments include: In August 2022, The U.S. Department of Energy's Water Power Technologies Office has given GE Research, the technological development division of General Electric Company, a 30-month, USD 4.3 million projects to increase the operating capacity and flexibility of hydropower assets., In October 2022, Belltown Power U.S. sold a 6 GW portfolio of solar, coupled, and stand-alone battery storage development projects to ENGIE North America (ENGIE). 33 projects totaling approximately 2.7 GW of solar energy, 0.7 GW of paired storage, and 2.6 GW of standalone battery storage are included in the transaction. Acquisition of 33 early to late-stage projects will accelerate renewables development across multiple states in North America., In November 2022, EE North America joined up with Elio Energy to build a 2GW solar power pipeline and energy storage assets in Arizona and neighboring states in the United States. The company intends to build 10GW of renewable energy capacity in the country by 2026 in order to assist state and local governments across the United States in meeting their net-zero emissions targets.. Key drivers for this market are: 4., Supportive Government Policies and Incentives4.; Environmental Concerns. Potential restraints include: 4., Fossil Fuel Subsidies. Notable trends are: Conventional Thermal is Likely Dominate the Market.

Renewable power producers have confronted several headwinds recently, balancing the promise of green energy with substantial challenges. While demand for clean energy remains strong, revenue has declined due largely to external pressures, such as fluctuating energy prices and environmental conditions. Droughts have notably hindered hydroelectric generation, escalating operational costs and forcing producers to rely on imported energy to fill the gaps. Industry revenue has been decreasing at a CAGR of 1.9% over the past five years to total an estimated $39.0 billion in 2025, including an estimated increase of 1.6% in 2025 as the price of electric power climbs and pushes up revenue. Over the past five years, despite meaningful advancements in solar and wind power, the industry has struggled with profitability because of various factors. For instance, while solar power's share nearly doubled in Ontario and wind power saw considerable investment in Saskatchewan, increased costs hampered these gains. The need for skilled labour and technology investment has driven up maintenance and repair expenses, compounding the effects of rising land prices needed for expansive wind and solar projects. These cost pressures, alongside the capital-intensive nature of renewable projects, have made profit growth elusive even as the industry strives to ramp up its capacity. Renewable power producers still hold substantial promise as they position themselves to meet future demand. Government incentives, such as tax credits and investment programs, are expected to fuel growth in renewable energy projects, aligning with Canada’s long-term environmental goals. The expansion of residential and commercial markets and emerging opportunities like AI data centers offer the potential for increased energy consumption. While the road ahead involves navigating regulatory challenges, particularly for offshore wind projects, technological advancements and energy storage could enhance operational efficiency. Industry revenue is forecast to increase at a CAGR of 1.3% to total an estimated $41.6 billion through the end of 2030.

The size of the South Korea Renewable Energy Industry market was valued at USD XX Million in 2023 and is projected to reach USD XXX Million by 2032, with an expected CAGR of 5.50">> 5.50% during the forecast period. A whole-scale transformation of the renewable energy industry is going on in South Korea. It has been focusing on multiple sustainable energy solutions to mitigate environmental issues and seek energy security. In pursuit of very ambitious policies and with a focus on reducing greenhouse gas emissions, South Korea is busy spending heavily on all kinds of sources of renewable energy-from solar and wind sources to bioenergy. The commitment is reflected in the country's Renewable Energy 3020 Plan, that by 2030, renewable energy will be deployed to generate up to 20 percent of its electricity, and that has seen significant growth in the sector.Some geographical advantages in renewable energy, especially on solar, exist in South Korea, as photovoltaic system installations atop houses and commercial establishments have increased recently. Onshore wind energy is significant and becoming more important, especially with expected offshore projects, which see coastal areas having better conditions. Bioenergy projects processing agricultural and organic wastes are also being pursued.The primary advantage of the technology is significant upfront costs, the necessity for high-tech development, and probable integration problems with the existing grid infrastructure. Recent developments include: July 2022: SK D&D acquired 15 units of Siemens Gamesa's SG 5.0-145 wind turbines for South Korea's third-largest wind farm. As soon as it is completed in 2024, the Gunwi wind farm will produce enough electricity for 64,000 local households, forming part of the country's efforts to reduce reliance on fossil fuels and increase renewable energy generation to 20% by 2030., June 2022: The South Korean government announced a tender to contract 2 GW of solar PV capacity through the Korean New and Renewable Energy Center (KNREC). The country aims to select this capacity from four categories ranging from less than 100 kW to exceeding 3 MW. Projects using solar PV modules with a lower carbon footprint will be preferred.. Key drivers for this market are: 4., Increasing Power Demand across Industrial Sector4.; Remote Location of Several Industries and the Unreliability of the Power Supply. Potential restraints include: 4., High Capital and Operational Expenditures. Notable trends are: Solar Energy Segment Expected to Witness Significant Growth.

The North American power industry, encompassing electricity generation, transmission, and distribution, is a mature yet dynamic market experiencing significant transformation. The period from 2019 to 2024 witnessed steady growth, driven primarily by increasing energy demand from a growing population and expanding industrial activities. However, the industry's trajectory is now profoundly shaped by the global shift towards renewable energy sources and decarbonization efforts. This transition is resulting in substantial investments in solar, wind, and other renewable energy technologies, while simultaneously requiring significant upgrades to the existing grid infrastructure to accommodate intermittent renewable energy sources and improve overall reliability. Furthermore, advancements in energy storage technologies are playing a crucial role in stabilizing the power grid and enhancing the integration of renewables. The regulatory landscape is also evolving, with policies aimed at accelerating renewable energy adoption and reducing carbon emissions impacting investment decisions and market competition. This combination of technological advancements, regulatory changes, and increasing energy demands contributes to a complex and evolving market landscape. Looking ahead to the forecast period (2025-2033), the North American power industry is projected to experience continued growth, albeit at a potentially moderated rate compared to the past. While the overall market size will expand, the growth will be characterized by a shift in the energy mix. Fossil fuel-based generation is expected to decline gradually as renewable energy sources gain a larger share of the market. This transition will necessitate considerable investment in new transmission and distribution infrastructure to effectively integrate renewable resources across geographically diverse regions. Smart grid technologies and advanced metering infrastructure will play increasingly important roles in optimizing grid management and improving energy efficiency. The competition within the sector is also intensifying, with traditional utilities facing challenges from independent power producers and new entrants specializing in renewable energy development and operation. This competitive landscape, coupled with evolving technological advancements, will continue to shape the industry's future. Recent developments include: In August 2022, The U.S. Department of Energy's Water Power Technologies Office has given GE Research, the technological development division of General Electric Company, a 30-month, USD 4.3 million projects to increase the operating capacity and flexibility of hydropower assets., In October 2022, Belltown Power U.S. sold a 6 GW portfolio of solar, coupled, and stand-alone battery storage development projects to ENGIE North America (ENGIE). 33 projects totaling approximately 2.7 GW of solar energy, 0.7 GW of paired storage, and 2.6 GW of standalone battery storage are included in the transaction. Acquisition of 33 early to late-stage projects will accelerate renewables development across multiple states in North America., In November 2022, EE North America joined up with Elio Energy to build a 2GW solar power pipeline and energy storage assets in Arizona and neighboring states in the United States. The company intends to build 10GW of renewable energy capacity in the country by 2026 in order to assist state and local governments across the United States in meeting their net-zero emissions targets.. Notable trends are: Conventional Thermal is Likely Dominate the Market.

The size of the US Clean Energy Industry market was valued at USD XX Million in 2023 and is projected to reach USD XXX Million by 2032, with an expected CAGR of 10.01% during the forecast period. The clean energy sector in the United States has undergone remarkable growth and transformation in recent years, propelled by a blend of technological innovations, supportive policies, and a rising consumer preference for sustainable alternatives. This market includes various segments such as solar, wind, hydropower, and energy storage, all of which contribute to a diversified energy mix aimed at minimizing greenhouse gas emissions and improving energy efficiency. Solar energy continues to be a leading component, with decreasing costs and advancements in photovoltaic technology enhancing its accessibility and affordability for both residential and commercial use. Wind energy, encompassing both onshore and offshore projects, has attracted significant investments, bolstered by federal incentives and state mandates. Furthermore, energy storage solutions, particularly batteries, are rapidly advancing to mitigate the intermittency challenges of renewable energy sources, thereby fostering a more dependable and resilient power grid. Government initiatives, including tax incentives, renewable portfolio standards, and climate action commitments, have been instrumental in directing the industry's development. Moreover, the private sector's dedication to sustainability and corporate social responsibility is further propelling market growth. As the United States moves towards a cleaner energy landscape, the sector is anticipated to maintain its growth trajectory, driven by innovation, investment, and a progressively supportive regulatory framework. This transition not only offers prospects for economic advancement but also plays a vital role in global efforts to address climate change. Recent developments include: March 2023: The US Energy Information Administration announced that the total electricity generated from renewables surpassed coal in the United States for the first time in 2022. Renewable energy also exceeded nuclear generation in 2022., May 2022: Greenlane Renewables Inc. announced that it had been awarded a contract for USD 6.8 million for dairy manure to renewable natural gas (RNG) project in the United States., May 2022: The Host Group plans to construct three biogas plants in New York and Ohio. The New York project is expected to produce each 300 SCFM of biogas, and the Ohio project is expected to have approximately 475 SCFM of biogas. The treated renewable natural gas on all three sites will likely be delivered as compressed bio-CNG to tanker trucks transporting the gas to a gas injection site. The upcoming project can have 3,000 American family cars drive on bio-CNG for a year.. Key drivers for this market are: Supportive Government Policies and Incentives4., Environmental Concerns. Potential restraints include: Fossil Fuel Subsidies. Notable trends are: Solar Energy to Witness Significant Growth.

European Non-Renewable Industrial Waste Gross Electricity Production Share by Country (Gigawatthours), 2023 Discover more data with ReportLinker!

The size of the Brazil Power Industry market was valued at USD XX Million in 2023 and is projected to reach USD XXX Million by 2032, with an expected CAGR of 7.06% during the forecast period. The power industry in Brazil forms a significant portion of the country's economy. Brazil boasts a mixed energy composition and substantial investments in renewable resources. The country has also heavily utilized hydropower to produce electricity, as the majority of the electricity produced in Brazil is from hydropower, and this forms one of the largest hydroelectric power generators globally. This would make it less exposed to climatic trends influencing its hydropower yield, and the country has already begun diversifying its energy portfolio towards wind, solar, and biomass energy, in tandem with the global trend towards sustainability. Brazil's government has established policies to increase renewable energy, such as wind and solar tenders. These have opened the door to domestic and international investment in the country. The increase in the number of wind farms sprouting up in Bahia and Rio Grande do Norte, not to mention the unstoppable rise of the solar market, is a reflection of this shift toward a more balanced and resilient energy landscape. As has been observed, these improvements notwithstanding, the power industry in Brazil still faces several challenges: an infrastructural limitation, increased bureaucratic bottlenecks, and the need to upgrade its grid systems. Socio-economic disparities also have a very high impact on energy provision in the more remote regions. But things look good for the future of Brazil's power industry, as this country continues to invest in renewable technologies and improves energy efficiency and, consequently, strives toward a more sustainable and inclusive energy future. Recent developments include: March 2023: Petrobras and Equinor entered an agreement aiming to expand cooperation between the companies to analyze the technical, economic, and environmental feasibility of seven offshore wind power generation projects. These projects are projected to have the potential to produce up to 14.5 GW. Initially, it will expand on the scope of two planned wind farms, namely, Aracatu I and II, located on the coast between Rio de Janeiro and Espírito Santo. The new agreement also considers a feasibility study of wind farms in Mangara (on the coast of Piaui); Ibitucatu (on the coast of Ceara); Colibri (on the coast between Rio Grande do Norte and Ceara), as well as Atoba and Ibituassu both on the coast of Rio Grande do Sul. In total, there are seven projects set to run until 2028., March 2022: The Government of Brazil signed a cooperation agreement with the Electric Energy Research Center to study new sites for nuclear plants in Brazil. Increasing the share of thermonuclear sources in the country's energy matrix is expected to reduce the impacts of water crises on electricity generation.. Key drivers for this market are: 4., Rising Demand for Renewable Energy4.; Decreasing Cost per Kilowatt of Electricity Generated Through Wind Energy Sources. Potential restraints include: 4., Increasing Installation of Other Renewable Sources Such as Solar Energy. Notable trends are: Hydropower to Dominate the Market.

The Brazilian power industry, valued at approximately $XX million in 2025 (assuming a logical estimation based on the provided CAGR and market size), is experiencing robust growth, projected to maintain a 7.06% Compound Annual Growth Rate (CAGR) from 2025 to 2033. This expansion is fueled by several key drivers. Firstly, Brazil's increasing energy demand driven by economic growth and population expansion necessitates substantial investments in power generation and transmission infrastructure. Secondly, the government's commitment to renewable energy sources, particularly hydropower and non-hydro renewables like solar and wind, is fostering significant project development and attracting foreign investment. This shift towards cleaner energy is further propelled by international pressure to reduce carbon emissions and achieve sustainability goals. However, the sector also faces challenges. Regulatory hurdles, intermittency issues associated with renewable energy sources requiring efficient energy storage solutions, and the need for grid modernization to accommodate increased renewable energy integration represent significant restraints to even faster growth. The industry is segmented into thermal, hydropower, nuclear, and non-hydro renewables, with hydropower currently dominating the market share, though non-hydro renewables are experiencing the fastest growth rate. Major players such as Statkraft, Engie, and Eletrobras are actively shaping the market landscape through strategic investments, mergers and acquisitions, and technological advancements. Regional variations within Brazil exist, reflecting differing energy consumption patterns and infrastructure development levels. The forecast period (2025-2033) anticipates a continued rise in market value, driven by the ongoing expansion of renewable energy capacity, government policy support, and increased private sector participation. However, the successful navigation of the aforementioned challenges will be crucial to realizing the full potential of this growing market. The strategic focus on grid stability, energy storage solutions, and efficient regulatory frameworks will be key to unlocking sustainable and reliable energy access across the country. Recent developments include: March 2023: Petrobras and Equinor entered an agreement aiming to expand cooperation between the companies to analyze the technical, economic, and environmental feasibility of seven offshore wind power generation projects. These projects are projected to have the potential to produce up to 14.5 GW. Initially, it will expand on the scope of two planned wind farms, namely, Aracatu I and II, located on the coast between Rio de Janeiro and Espírito Santo. The new agreement also considers a feasibility study of wind farms in Mangara (on the coast of Piaui); Ibitucatu (on the coast of Ceara); Colibri (on the coast between Rio Grande do Norte and Ceara), as well as Atoba and Ibituassu both on the coast of Rio Grande do Sul. In total, there are seven projects set to run until 2028., March 2022: The Government of Brazil signed a cooperation agreement with the Electric Energy Research Center to study new sites for nuclear plants in Brazil. Increasing the share of thermonuclear sources in the country's energy matrix is expected to reduce the impacts of water crises on electricity generation.. Key drivers for this market are: 4., Rising Demand for Renewable Energy4.; Decreasing Cost per Kilowatt of Electricity Generated Through Wind Energy Sources. Potential restraints include: 4., Increasing Installation of Other Renewable Sources Such as Solar Energy. Notable trends are: Hydropower to Dominate the Market.

Asia accounted for the highest share of renewable electricity generation worldwide in 2022, with about 3,748 terawatt hours of electricity generated. North America ranked second, with renewable sources accounting for roughly 1,4 terawatt hours of power output.

The global renewable electricity generation market is experiencing robust growth, projected to reach a market size of $298.29 billion in 2025 and maintain a Compound Annual Growth Rate (CAGR) of 11.5% from 2025 to 2033. This expansion is driven by several key factors. Increasing concerns about climate change and the urgent need to reduce carbon emissions are propelling governments and businesses to invest heavily in renewable energy sources. Furthermore, technological advancements are making renewable energy technologies more efficient and cost-competitive with fossil fuels, particularly in solar and wind power. Favorable government policies, including subsidies, tax incentives, and renewable portfolio standards (RPS), are further accelerating market growth. The increasing affordability and accessibility of renewable energy technologies are also empowering residential consumers to adopt solar panels and other renewable energy solutions, contributing significantly to the growth of the residential segment. Diversification of the energy mix is also a driving force, as nations strive for energy independence and resilience against volatile fossil fuel prices. Market segmentation reveals strong performance across various renewable energy sources. Solar and wind power are leading the charge, benefiting from technological improvements and economies of scale. Hydropower remains a significant contributor, although its growth is somewhat constrained by geographical limitations and environmental concerns. Biomass energy continues to play a role, particularly in regions with abundant biomass resources. The end-user segments, residential, commercial, and industrial, all demonstrate significant growth potential, with the industrial sector likely to show the most substantial expansion due to the increasing electrification of industrial processes and the rising demand for clean energy in manufacturing. Geographic variations exist, with regions like APAC (particularly China and India) and North America (especially the US and Canada) exhibiting high growth rates due to supportive policies, substantial investments, and a large energy demand. Europe also holds a significant market share due to its strong focus on sustainability and established renewable energy infrastructure. Competitive rivalry among leading companies is intense, marked by strategic partnerships, mergers and acquisitions, and continuous innovation to enhance efficiency and reduce costs. This competitive landscape fosters technological advancements and benefits consumers through price reductions and improved service offerings.

The size and share of the market is categorized based on Type (Conventional Electricity Generation, Renewable Electricity Generation, ) and Application (Residential, Commercial, Industrial, ) and geographical regions (North America, Europe, Asia-Pacific, South America, and Middle-East and Africa).

The global decentralized electricity generation market is projected to expand rapidly, reaching a value of $674.52 million by 2033, with a CAGR of 7.69%. This growth is primarily driven by the increasing adoption of renewable energy sources, such as solar photovoltaics, wind turbines, and biomass, as well as the growing demand for distributed generation systems. Additionally, the declining cost of renewable energy technologies and government incentives are contributing to the market's expansion. Among the major regions, North America and Europe are expected to dominate the decentralized electricity generation market throughout the forecast period. The presence of established renewable energy industries and supportive government policies are key factors driving growth in these regions. China and India are also expected to witness significant growth, owing to their large populations and increasing energy demands. The Asia-Pacific region is projected to emerge as a key growth market, driven by the growing urbanization and industrialization in the region. Concentration: The decentralized electricity generation market has a moderate level of concentration, with the top five players accounting for around 30% of the global market share. Characteristics:

Innovation: The market is characterized by continuous innovation, with companies investing heavily in developing new technologies and solutions to improve efficiency and reduce costs. Impact of Regulations: Regulatory policies and incentives play a significant role in shaping the market landscape, driving investment in renewable energy and decentralized solutions. Product Substitutes: Decentralized electricity generation faces competition from conventional energy sources such as fossil fuels, but its increasing cost-competitiveness and environmental benefits are gaining traction. End-user Concentration: End-use sectors, including residential, commercial, industrial, and utilities, have varying consumption patterns and requirements, influencing market demand. Level of M&A: The market has witnessed significant merger and acquisition activity as companies seek to expand their portfolios, gain technological advantages, and establish a global presence. Recent developments include: , Recent developments in the Decentralized Electricity Generation Market have shown significant activity, particularly among major players such as Schneider Electric, Tesla, Enphase Energy, Siemens Gamesa Renewable Energy, and NextEra Energy. Companies are increasingly focusing on renewable energy sources, enhancing their portfolios. Schneider Electric announced advancements in smart grid technologies, enhancing efficiency in energy consumption and generation. Tesla continues to push boundaries with its energy products, including innovative solar solutions and battery storage systems. In the wind energy sector, Siemens Gamesa has expanded its offerings, targeting offshore projects to meet growing demand.Recent mergers and acquisitions in the market include First Solar acquiring a controlling stake in a solar technology company, strengthening its position in solar manufacturing. Additionally, Vestas Wind Systems is exploring partnerships to expand its renewable energy solutions on a global scale. The overall valuation of companies in this sector is on the rise, reflecting a strong shift toward decentralized energy solutions as more businesses and consumers seek to optimize energy production and reduce reliance on traditional energy grids. This transition impacts market dynamics positively, leading to accelerated innovation and investor interest.. Key drivers for this market are: Renewable energy adoption surge, Technological advancements in storage; Government incentives for decentralization; Energy independence for consumers; Smart grid integration potential. Potential restraints include: increased energy independence, renewable energy adoption; technological advancements; regulatory support; cost reduction.

According to Cognitive Market Research, the global Electricity Generation market size will be USD 2154.2 million in 2024. It will expand at a compound annual growth rate (CAGR) of 9.80% from 2024 to 2031.

North America held the major market share for more than 40% of the global revenue with a market size of USD 861.68 million in 2024 and will grow at a compound annual growth rate (CAGR) of 8.0% from 2024 to 2031.
Europe accounted for a market share of over 30% of the global revenue with a market size of USD 646.26 million.
Asia Pacific held a market share of around 23% of the global revenue with a market size of USD 495.47 million in 2024 and will grow at a compound annual growth rate (CAGR) of 11.8% from 2024 to 2031.
Latin America had a market share of more than 5% of the global revenue with a market size of USD 107.71 million in 2024 and will grow at a compound annual growth rate (CAGR) of 9.2% from 2024 to 2031.
Middle East and Africa had a market share of around 2% of the global revenue and was estimated at a market size of USD 43.08 million in 2024 and will grow at a compound annual growth rate (CAGR) of 9.5% from 2024 to 2031.
Thermal Generation is the market leader in the Electricity Generation industry

Market Dynamics of Electricity Generation Market

Key Drivers for Electricity Generation Market

Rising need for cooling boosts the electricity generation market

The increased demand for cooling is projected to drive the electricity generating market in the future years. Cooling is the process of lowering the temperature of an object or environment, which is usually accomplished by transporting heat away from the intended location, typically utilizing air or a cooling medium. Power generation can be utilized to cool by running air conditioning (AC) and fans to keep indoor temperatures comfortable. For instance, According to the International Energy Agency, an autonomous intergovernmental body located in France, in July 2023, more than 90% of households in the United States and Japan had an air conditioner. Cooling accounts for around 10% of global electricity use. In warmer countries, this might result in a more than 50% increase in power demand during the summer months. As a result, increased demand for cooling is likely to drive expansion in the power generating industry.

Increasing applications of electricity in the transportation industry

The growing use of energy in the transportation industry is predicted to increase demand for electricity, hence pushing the power generation market. The electrification of railways in underdeveloped and developing countries, the establishment of public transportation networks such as rapid metro transit systems, and the growing use of electric vehicles in developed countries will all create significant market opportunities for power generation companies. For instance, in order to achieve net-zero carbon emissions, the Office of Rail and Road (ORR) predicts that 13,000 track kilometers - or roughly 450 km per year - of track in the UK will need to be electrified by 2050, with 179 km electrified between 2020 and 2021. According to the Edison Electric Institute (EEl), yearly electric car sales in the United States are estimated to exceed 1.2 million by 2025. Electric vehicles are projected to account for 9% of worldwide electricity demand by 2050.

Restraint Factor for the Electricity Generation Market

High initial capital investment for renewable projects

The high initial capital for renewable projects is indeed a limiting factor for the market growth of the electricity generation sector, as most such technologies, infrastructure, and installation depend on significant up-front funding. For instance, most renewable energy technologies are highly capital intensive-solar, and wind, in particular, scares investors away from taking action, especially if they are small or developing firms. There is thus an economic limitation that restricts competition and contributes toward slower development of cleaner energy solutions. Moreover, funding can be quite tricky and challenging-especially for a poor economic climate. The payback times attached to these investment options are long, leading to uncertainty and making stakeholders reluctant to commit. These financial constraints are, therefore, blighting the transition to renewable energy as well as, more broadly, the overall electricity generation market

Impact of Covid-19 on the E...

The global renewable power generation market is projected to reach $674.52 billion by 2033, exhibiting a CAGR of 5.14% during the 2025-2033 forecast period. The market growth is primarily driven by increasing environmental concerns, government initiatives to promote clean energy sources, and technological advancements in renewable energy technologies. The rising demand for sustainable energy solutions to mitigate climate change and reduce carbon emissions is further fueling market growth. The utility-scale segment currently dominates the market, owing to the large-scale implementation of solar and wind farms by utilities to meet increasing electricity demand. However, the distributed generation segment is expected to witness significant growth in the coming years, driven by the growing adoption of rooftop solar systems and microgrids. The Asia Pacific region is projected to be the largest market, with China and India leading the adoption of renewable energy technologies. Technological advancements, such as floating solar panels and high-efficiency wind turbines, are expected to drive market innovation and expansion in the future. Market Overview The global renewable power generation market is poised for exponential growth, driven by rising environmental concerns, government incentives, and technological advancements. In 2024, the market was valued at $1,200 million, and it is projected to reach $2,500 million by 2032, expanding at a CAGR of 9.2%. This growth is attributed to increasing investments in renewable energy projects, particularly in solar and wind power. Recent developments include: , Recent developments in the Renewable Power Generation Market indicate a robust growth trajectory driven by increasing investments, technological advancements, and supportive government policies aimed at combating climate change. Major economies are setting ambitious renewable energy targets, leading to a surge in project approvals and infrastructure development. Innovations in solar and wind technologies continue to reduce costs and enhance efficiency, contributing to greater adoption across various sectors. Additionally, emerging markets are recognizing the potential of renewables to meet energy demands sustainably, prompting international collaborations and investments. Overall, the transition towards a cleaner energy future is shaping the dynamics of the industry, with prospects for sustained growth and diversification in renewable energy sources from 2024 to 2032., Renewable Power Generation Market Segmentation Insights. Key drivers for this market are: 1. Increased investment in clean energy 2. Strengthening government policies and incentives 3. Technological advancements in storage 4. Rising demand for energy independence 5. Growing consumer interest in sustainability. Potential restraints include: 1. Increasing energy demand 2. Government incentives 3. Technological advancements 4. Environmental regulations 5. Growing investment in renewables.

European Gross Electricity Production from Non-Renewable Industrial Waste Share by Country (Gigawatthours), 2023 Discover more data with ReportLinker!

The size of the Sweden Renewable Energy Industry market was valued at USD XX Million in 2023 and is projected to reach USD XXX Million by 2032, with an expected CAGR of > 3.50% during the forecast period.Renewable energies are natural replenished. These include solar, wind, hydro, geothermal, and biomass. Unlike fossil fuels, however, renewable energy is less and results in climate change. So, renewable energy is a sustainable and also environmentally friendly alternative to using fossil fuels. Sweden has been a leader in switching to renewable energy, with stiff commitment towards reducing fossil use. Sweden has been supported by strong natural resources in wind, hydro, and biomass as the country transitions to a low-carbon economy. Hydropower has been a source of electricity in Sweden for many decades and has thus become clean and reliable energy. Wind power has increased remarkably, with several wind farms located in the Swedish countryside. Feed-in tariffs, tax cuts, and investment subsidies by the government of Sweden towards renewable energy in several policies and incentives: All these supports small-scale, as well as large-scale projects, from utility-scale farms to rooftop installation. Sweden is on her way to global leadership in green energy solutions because she remains committed to an investment in renewable energies and infrastructure for such projects. Recent developments include: In February 2022, Cloudberry Clean Energy secured the 18 MW Munkhyttan Vindkraft onshore wind in Lindesberg, Sweden, which is in the late stage of development. The company announced that it was in the final stage of negotiations with the German turbine supplier Eno-Energy for three 6 MW turbines for the project, and the project is expected to commence commercial operation by 2023/2024. Cloudberry has also secured options under the same terms to develop a second phase, the 18MW Munkhyttan 2 project, and has already started the permit application process., In December 2021, Scandinavian Biogas announced that it will build a biogas plant with local farmers in Grimhult, Sweden. The project is being developed by the company's subsidiary, Mönsterås Biogasproduktion AB, which has received an investment support of EUR 14.9 million from Klimatklivet (a Swedish Environmental Protection Agency program), and plans to invest a total of approximately EUR 48.6 million in the project. The project will convert 300,000 ton of waste from local pigs and poultry into approximately 120 GWh of bio-LNG for use as fuel in trucks, ships, or the industry., In October 2021, Alight announced that it was building three solar farms with a combined capacity of 90 MW, and it had already signed commercial Power Purchase Agreements (PPAs) with three major industrial players in Sweden. The first agreement was signed with the food conglomerate Martin and Servera for an 18 MW solar project, which is expected to be completed during Q2 2022. The company has also signed PPAs with the sustainable food company Axfood for a 40MW solar park and industrial group Axel Johnson AB for a 30MW solar park, both of which are expected to be completed by H1 2023.. Key drivers for this market are: 4., Increasing Industrial Operations. Potential restraints include: 4., Advancement in Technology such as Photovoltic (PV)Cell. Notable trends are: Hydro Energy is Expected to Dominate the Market.