The global green power market is segmented into energy resources such as solar energy equipment, wind energy equipment, geothermal energy equipment, biomass energy equipment, and hydropower energy equipment. Among these segments, hydropower energy equipment segment is expected to witness robust growth during the forecast period. The growth of the hydropower energy equipment segment is backed by increasing consumption of hydro power energy across the globe. For instance, the total consumption of hydro energy in U.S. reached 2472.442 Trillion Btu in 2016 as compared to 2321.177 Trillion Btu in 2015.
The North America segment by region grabbed major share of global green power market in 2016 and is likely to grow at remarkable pace during the forecast period. Rising price of fossil fuels and other non-conventional energy has led government to encourage various sectors to adopt renewable energy resources. In 2016, total renewable energy production in United State reached 10180.81 Trillion Btu in 2016 as compared to 9487.409 Trillion Btu in 2015.
Global green power market is expected to register 8.3% CAGR over the forecast period. Moreover, the global green power market is expected to expand on the back of favorable government policies and increasing environmental awareness amongst the population.
Environment and Energy Saving Concerns
Factors related to environmental concern such as increasing carbon emission, global warming and increasing consumer awareness regarding benefits of using green energy powered technologies are driving the growth of global green power market. Further, a number of environmental benefits of green energy such as water saving, reduced carbon emission and cost effective are expected to bolster the growth of global green power market in near future.
Favourable Government Initiatives and Programmes
Government efforts to aware population regarding benefits of green power and to reduce dependency on fossil fuels are strengthen the market of green power across the globe. Furthermore, governments are focusing towards utilization of green energy and taking various initiatives to reduce greenhouse gas emission are also fostering the growth of global market of green power market.
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However, high dependency on non-renewable energy resources is likely to inhibit the growth of the green power market in the near future. The report titled “Global Green power Market:'Global Historical Growth (2012-2016) & Future Outlook (2017-2024) Demand Analysis & Opportunity Evaluation'” delivers detailed overview of the global green power market in terms of market segmentation by energy resource, by end-user and by region. This report also provides the existing competitive scenario of some of the key players of the global green power market which includes company profiling of Trina Solar Limited, General Electric Company, Siemens AG, Bosch Group, Earthlinked Technologies Inc., Ormat Technologies, Inc., Senvion S.A., EarthLinked Technologies, Inc., First Solar, Inc. and Nordex SE. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global green power market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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