Green Power Market Size, Share, Analysis, Trends, Growth Report, 2030

Global  Green Power Industry Prospective:

The global green power market size was worth around USD 42.16 Billion in 2022 and is predicted to grow to around USD 103.49 Billion by 2030 with a compound annual growth rate (CAGR) of roughly 12.11% between 2023 and 2030.

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Global Green Power Market: Overview

Green power is the sub-category of renewable energy and signifies the technologies & renewable energy resources that offer maximum environmental benefits. Conventional electricity may produce greenhouse emissions and air pollution at a significant rate. Green power resources are zero-emission energy resources that are they do not produce any additional carbon dioxide or other greenhouse gases during the process of power generation. The electricity produced from geothermal, wind, eligible biomass, solar, low-impact small hydroelectric sources, and biogas is defined as green power. These are environmentally friendly but the overuse of these sources may lead to environmental damage.

Global Green Power Market: Growth Factors

The global green power market is growing at a significant rate. The rise in the demand for environment-friendly sources of energy such as solar, wind, & other sources due to the rise in awareness about its use and the growing integration of renewable energy with equipment installations are the primary factors that are spurring the growth of the global green power market. In addition to this, the use of green power directly or indirectly supports the development of renewable energy, helps minimize the carbon footprint related to purchased electricity, and also supports to hedge against the increase in electricity prices in the future.

The organizational users can benefit from the use of green power as they can generate positive publicity as well as improve the public image of the organization, demonstrate civic leadership, serve as a brand differentiator, and generate stakeholder, customer, or investor loyalty & employee pride. All these benefits of green power use are resulting in a rise in demand for the growth of the global market. Moreover, the increase in concerns about greenhouse gas emissions and a growing number of industries in developing countries are also factors that are contributing to the growth of the market. Furthermore, an increase in the number of solar parks may boost the growth of the global green power market over the forecast period. However, the presence of entry barriers for new competitors may restrain the growth of the global green power market.

The Covid-19 pandemic has been obstructing the growth of the economy across the world. Along with all the other sectors, the power sector is also been adversely affected due to the outbreak. The US, India, Italy, Spain, France, Germany, and the UK are some of the countries that are been severely affected by the pandemic. The installation of solar and wind was lowered as the developers ceased working on the projects as soon as lockdown rules were imposed by the government. After easing in lockdown, construction activities resumed but the delay in site inspection, lack of labor, and disruption in the supply chain have set back its progress. The power demand also decreased. Owing to all these factors, the performance of renewable plants is been hampered thereby affecting the growth of the global green power market.

Global Green Power Market: Report Scope

Global Green Power Market: Segmentation

The global green power market is bifurcated based on equipment type, energy source, end-user, and region. Based on equipment type, the global green power market is categorized into geothermal energy equipment, wind energy equipment, hydropower energy equipment, and solar energy equipment. Based on the energy source, the market is divided into hydroelectric power, wind energy, biofuels, solar energy, biomass, and others. Based on the end-user, the market is classified into commercial, industrial, and residential.

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Global Green Power Market: Regional Analysis

Among the regions, Europe is anticipated to dominate the global green power market. Factors such as the rise in the use of green sources, growing concerns about greenhouse gas emissions, and the reduction of conventional reserves at a rapid pace are contributing to the growth of the market in this region. Asia Pacific is expected to hold a significant share of the market and is anticipated to grow at a faster rate. This is attributed to the increase in government initiatives to adopt green sources as a source of energy, expanding industrialization, and increasing the use of solar energy in countries like India and China.

Global Green Power Market: Competitive Players

Some of the key players in the global green power market include

• General Electric Company
• Arka Green Power Pvt. Ltd.
• FHP Bosch Group
• Earthlinked Technologies Inc.
• Yingli Solar
• Ormat Technologies. Inc.
• Siemens AG
• Aquatherm Industries. Inc.
• Trina Solar Limited
• Canadian Solar Inc. 
• among others.

The global green power market is segmented as follows:

By Equipment Type 

• Geothermal Energy Equipment
• Wind Energy Equipment
• Hydropower Energy Equipment
• Solar Energy Equipment 

By Energy Source

• Hydroelectric Power
• Wind Energy
• Biofuels
• Solar Energy
• Biomass
• And Others

By End-users 

• Commercial
• Industrial
• Residential

Global Green Power Market: Regional Segment Analysis

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa

What Reports Provides

• Full in-depth analysis of the parent market
• Important changes in market dynamics
• Segmentation details of the market
• Former, on-going, and projected market analysis in terms of volume and value
• Assessment of niche industry developments
• Market share analysis
• Key strategies of major players
• Emerging segments and regional markets
• Testimonials to companies in order to fortify their foothold in the market.