Renewable Energy Industry: Market Research Reports, Statistics and Analysis

Leading Market Segments

• The wind energy market had revenue of $32 billion in 2010, reports MarketLine, representing over 273 billion kWh. Growth is expected to slow, representing value of almost $60 billion by the close of 2015. Over the past decade, global sales of wind turbines have risen almost 30% per year, according to Aruvian’s Research. The EU segment of the wind power market is forecast to reach almost 15% in 2030, according to the International Energy Agency.

• Biomass power is derived from biological material, namely landfill gases (methane), garbage, alcohol fuels, wood and waste. Biomass power converts organic waste and industry byproducts into electricity. It is a clean alternative to less environmentally friendly sources of energy, such as oil and nuclear. According to the IEA, the global supply of biofuels used for road transport is expected to reach 5% in 2030, up from 1.5% in 2006. Growth in this sector will be lead by the US, EU, China and Brazil.

• The main technologies employed in the generation of solar energy are concentrated photovoltaics (PV), solar thermal, solar PV and concentrated solar thermal. The largest market share concerns solar PV, with concentrated solar thermal in second place; the former enjoying an average annual growth rate of 60% and the latter 8%, according to research from Markets and Markets.

• Geothermal energy comes from thermal energy stored in the earth’s crust, and is originally from the earth’s formation, specifically the radioactive decay of minerals and from volcanic activity. Heat from the earth’s core to its surface is harnessed as thermal energy, giving geothermal power, a sustainable source of energy that is inexpensive relative to other energy sources and that does not impact negatively on the environment. The US is the number-one producer of geothermal electricity, accounting for around 30% of the global market, according to the Geothermal Energy Association.

• The worldwide market for hydropower should have revenue of almost $57 billion in 2011, according to Visiongain. Hydro electricity represents a cheap source of renewable energy. Hydropower is produced without fuel combustion, offering an advantage over fossil fuels. One drawback to this source of energy is its negative impact on natural ecosystems as it disrupts the natural course of river and stream flows.

Regional Market Share

Together, the UK, France, Germany, Japan and the US represent the lion’s share of the global renewable energy market. China dominates in the wind energy market. The US market was worth almost $8.5 billion in 2010, representing 84 billion kWh. Wind energy industry growth is expected to slow to just over a 18% compound annual growth rate from 2010 to 2015, bringing the industry almost $19.5 billion in value by 2015.

China is equally leading in solar energy, producing almost 48% of the world’s solar PV power in 2010, reports Business Insights. Strong growth for concentrated solar thermal (CSP) technologies is forecast in new markets, including China, Brazil, France and India. CAGR in this market is forecast at 45% for the five-year period ending in 2016. The solar PV market is expected to show 30% growth over the same period, according to Markets and Markets.

Renewable Energy Key Players

Top renewable energy companies include GE Energy, Sharp Solar, Algal Biomass Organization, Siemens, AltE, AEG Power Solutions, Applied Energy Technologies, First Solar, Gamesa and Q-Cells. 

Market Outlook

The market for renewable energy will continue to grow due to a rising global population and a growing emphasis on environmental protection. The sector is becoming increasingly competitive as renewables vie for policy support. Cost competitiveness and environmental protection targets are key factors moving forward. Wind energy is of particular prominence as this energy source can promise dramatic reduction in CO2 over the next decade. Wind capacity worldwide is forecast to grow almost 500,000 MW in that period, hitting close to 694,000 in 2020, according to Global Data.

Leading Industry Associations

• International Energy Agency www.iea.org
• World Council for Renewable Energy www.wcre.de
• International Solar Energy Society www.ises.org/ises.nsf
• Global Wind Energy Council www.gwec.net
• World Wind Energy Association www.wwindea.org
• International Hydropower Association www.hydropower.org
• American Wind Energy Association www.awea.org
• European Wind Energy Association www.ewea.org
• Indian Wind Energy Association www.inwea.org
• Solar Energy Industries Association www.seia.org
• European Biomass Association www.aebiom.org
• US Biomass Power Association www.usabiomass.org
• European Photovoltaic Industry Association www.epia.org
• Solar Energy Society of India www.sesi.in
• US Energy Information Administration www.eia.gov