Pune, April 12, 2023 (GLOBE NEWSWIRE) -- A global Energy and Power research and business-consulting firm, Maximize Market research, has published a market intelligence report on the “Alternative Energy Market”. The report is a combination of primary data and secondary data and domain expert has analysed the Alternative Energy Market from a local as well as a global point of view. Over the forecast period, Maximize Market research expects the market to grow from USD 843.85 Bn in 2022 to USD 1847.19 Bn in 2029 at a CAGR of 11.85 percent.
Alternative Energy Market Report Scope and Research Methodology
| Market Size in 2022 | USD 843.45Bn. |
| Market Size in 2029 | USD 1847.19 Bn. |
| CAGR | 11.85 percent (2023-2029) |
| Forecast Period | 2023-2029 |
| Base Year | 2022 |
| Number of Pages | 276 |
| No. of Tables | 116 |
| No. of Charts and Figures | 114 |
| Segment Covered | Type and End Use |
| Regional Scope | North America, Europe, Asia Pacific, Middle East and Africa, South America |
| Report Coverage | Market Share, Size & Forecast by Revenue | 2022−2029, Market Dynamics, Growth Drivers, Restraints, Investment Opportunities, and Key Trends, Competitive Landscape, Key Players Benchmarking, Competitive Analysis, MMR Competition Matrix, Competitive Leadership Mapping, Global Key Players’ Market Ranking Analysis. |
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The report provides a detailed analysis of the Alternative Energy Market through market size, market share, gross income and trends. The bottom-up approach was used to estimate the size of the market by value and volume. The report includes data regarding business strategies, partnerships, mergers and acquisitions by Alternative Energy Market Key players. The report involves factors, which are affecting the market growth both positively and negatively. The report provides the competitive landscape for the market in major geographic regions such as North America, Asia Pacific, South America, Middle East and Africa and Europe. Primary and secondary research methods were used to collect data. The collected data has been analysed by tools such as SWOT analysis, PESTLE and PORTER’s five force model, which includes drivers, restraints, opportunities and investment feasibility.
Alternative Energy Market Overview
Alternative Energy sources are alternatives to traditional energy sources such as coal, fossil fuel and other metals. Alternative Energy sources provide a higher source of energy than it consumed for a longer period of time. Alternative Energy sources do not contribute to greenhouse gases and climate change rather it provides clean and environment-friendly energy.
Alternative Energy Market Dynamics
Growing awareness regarding the hazardous effects of carbon emission through fossil fuels, mining and other activities from which CO2 emitted are expected to drive the Alternative Energy Market. The Market growth is supported by the favourable government initiatives to adopt clean and green energy for the conservation of clean environment. The increased industrialization and urbanization in developing countries is a lucrative opportunity for the Alternative Energy Market.
The technological advancements are declining the implementation and operation cost of the alternative energy sources has been driving the Alternative Energy Market. Concerns related to climate change and ESG concerns are attracting investors across the world, which is expected to drive the Alternative Energy Market growth over the forecast period.
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Alternative Energy Market Regional Insights
Asia-Pacific is expected to hold the largest share of the market throughout the forecast period (2023-2029). The growing energy requirements due to increased industrialization and the government regulation on clean energy sources are expected to drive the Asia Pacific Alternative Energy Market.
Middle East and Africa along with North America are expected to grow at a highest CAGR throughout the forecast period. The strategic alliance between China and some Middle East countries and technical advancements in North America are making the use of Alternative Energy Sources popular. This is expected to drive the Alternative Energy market.
Alternative Energy Market Segmentation
By Type:
- Hydroelectric Power
- Wind Power
- Bioenergy
- Solar Energy
- Geothermal Energy
The hydroelectric segment held the largest share of the market in 2022 and is expected to grow at a high pace during the forecast period. The growing need for electricity across the world drives governments to produce electricity through hydroelectric power.
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By End Use:
- Residential
- Commercial
- Industrial
- Others
The increasing adoption of solar PV systems in the residential sector has benefits such as easy installation, cost-effectiveness and provides clean energy. The growing awareness about clean energy among consumers are backed by strong government initiatives.
Alternative Energy Market Key Competitors include:
- ABB
- ACCIONA
- EDF
- Enel Spa
- General Electric
- Geronimo Energy
- Invenergy
- Innergex
- THE TATA POWER COMPANY LIMITED
- Xcel Energy Inc.
- ReNew Power
- Duke Energy
- Power Grid Corporation of India Ltd.
- Seminole Electric Cooperative
- APR Energy
Key questions answered in the Alternative Energy Market are:
- What is Alternative Energy Market?
- What was the Alternative Energy Market size in 2021?
- What is the expected Alternative Energy Market size during the forecast period?
- What are the global trends in the Alternative Energy Market?
- What are the major restraints for the Alternative Energy Market?
- Which segment dominated the Alternative Energy Market growth?
- What is the demand pattern for the Alternative Energy Market?
- What growth strategies are the players considering to increase their presence in Alternative Energy Market?
- What are the upcoming industry applications and trends for the Alternative Energy Market?
- Who are the leading companies and what are their portfolios in Alternative Energy Market?
- Which region dominates the largest market share in Alternative Energy Market?
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Key Offerings:
- Past Market Size and Competitive Landscape (2018 to 2021)
- Past Pricing and price curve by region (2018 to 2021)
- Market Size, Share, Size & Forecast by different segment | 2023−2029
- Market Dynamics – Growth Drivers, Restraints, Opportunities, Organization Size, Application and Industry Vertical
- Market Segmentation – A detailed analysis by Type and End Use.
- Competitive Landscape – Profiles of selected key players by region from a strategic perspective
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- Competitive landscape – Market Leaders, Market Followers, Regional player
- Competitive benchmarking of key players by region
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- PESTLE Analysis
- PORTER’s analysis
- Value chain and supply chain analysis
- Legal Aspects of business by region
- Lucrative business opportunities with SWOT analysis
- Recommendations
Maximize Market Research is leading Energy and Power research firm, has also published the following reports:
Fusion Energy Market - The market size is expected to reach USD 462.3 Bn by 2029 at a CAGR of 7.4 percent during the forecast period. The market is expected to be driven by the growing need for alternative sources of energy that are safe, reliable, and environmentally friendly. Fusion energy has the potential to meet these requirements, as it generates electricity by harnessing the power of nuclear fusion, which produces no greenhouse gas emissions or long-lived radioactive waste.
Energy Security Market - The market size is expected to reach USD 40 Bn by 2029 at a CAGR of 10.2 percent during the forecast period. The market is expected to be driven by the increased government regulations, security compliance, and an increase in threats from terrorist and cyber-attacks.
Solar Lights Market - The market size is expected to reach USD 18.46 Bn by 2029 at a CAGR of 10.9 percent during the forecast period. The market is expected to be driven by increased environmental crisis and pollution. Solar energy emerged as the best environment-friendly energy source and many governments across the world are promoting residents and the commercial sector to invest in solar panels.
Solar Power Equipment Market - The market size is expected to reach USD 255.8 Bn by 2029 at a CAGR of 11.36 percent during the forecast period. The market is expected to be driven by the rising power rates, the use of solar energy has expanded dramatically among residential users for activities such as water heating.
Ocean Energy Market - The market size is expected to reach 897.85 Thousand Killowatts by 2029 at a CAGR of 35.4 percent during the forecast period. The market is expected to be driven by its high dependability and predictability index. Ocean energy helps in reducing inefficiencies which a vital need is given the increased contribution of renewable energy to the overall energy mix.
About Maximize Market Research:
Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.
