Market Size in 2021 | Market Forecast in 2028 | CAGR (in %) | Base Year |
---|---|---|---|
USD 900 Billion | USD 1,950 Billion | 8.5% | 2021 |
FrequentlyAsked Questions
The rising pressure on industries and businesses to opt for cleaner energy is expected to aid the growth of the global energy market during the forecast period. This is also aided by the depletion of fossil fuel or natural gases making their accessibility difficult as well as expensive thus creating more demand for green energy creation. The rising awareness amongst the general population about the deterioration of the environment has aided the shift in preference of the end consumers towards less harmful energy sources and accommodate their use wherever possible like the use of solar panels at homes to generate electricity or the adoption of EV over gas-run vehicles. The preference change is anticipated to aid the global market expansion.
According to Zion Market Research, the global green energy market was valued at $900B in 2021 and is expected to grow at a CAGR of 8.5% by 2028 and generate a market revenue of $1,950B during the forecast period.
Asia Pacific is anticipated to dominate the global green energy market owing to the increasing population, rapid cities' rapid modernization, and robust industrialization. This has propelled the use of energy consumption leading to detrimental climatic changes in this region pressurizing the governments to take necessary measures like the adoption of green energy wherever possible and laying down stringent regulations for businesses in terms of the release of harmful gases from their manufacturing units.
Some of the leading players in the global green energy market are SynTech Bioenergy, Canadian Solar Inc., Ocean Power Technologies, Invenergy LLC, Innergex, Tocardo BV, TATA Power, Ørsted, ONPOWER Business Energy, ABB Product Group Solar, NextEra Energy, Inc., Vestas, Siemens AG, EDF.
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