Renewable resources include tides, wind, sunlight, geothermal heat, waves, rain, biomass, and similar ones.
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Global Renewable Energy Market is expected to grow at a CAGR of 11.5% from 2017 to 2025. Energy obtained from renewable resources, that is, the energy obtained from sources that can naturally replenish themselves on a timely basis is referred to as renewable energy.
The current trend in the global energy and power industry is to maximize the utilization of renewable energy for power generation and minimize the use of conventional fossil fuels. The dire need of the hour is to reduce the use of fossil fuels as much as possible to prevent further damage to the environment.
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Based on the source, the Renewable Energy Market is divided into wind, sunlight, oceanic (tides and thermal), biomass, and geothermal heat. According to type, the market is categorized into biofuels (solid, liquid, and gaseous), solar photovoltaic, wind energy (horizontal and vertical axis wind turbines), geothermal energy, and hydroelectric power.
The solar photovoltaic market is divided into crystalline (monocrystalline and polycrystalline), amorphous, and others. Geothermal energy is further subdivided into dry steam, flash steam, and binary cycle.
Based on application, the market is segmented into power generation, heating, and auto fuel. On the basis of end-use industry, the market is bifurcated across residential, commercial, healthcare, industrial, and transportation segments.
Geographic breakdown and deep analysis of each of the aforesaid segments have resulted in the following regions: North America, Europe, Asia-Pacific, and LAMEA.
- Rise in global pollution and the need to adopt environment friendly technologies is supporting the growth of renewable energy market.
- Government support schemes and policies, tax incentives, funding, and regulations are encouraging market players to bring innovation to the existing technologies.
- Rising awareness and shifting preferences toward ecofriendly practices is fueling market growth.
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Table Of Contents:
1.1. Key Findings
1.2. Market Attractiveness and Trend analysis
1.3. Competitive Landscape and recent industry development analysis
2.1. Report Description
2.2. Scope and Definitions
2.3. Research Methodology
3. Market landscape
3.1. Growth Drivers
3.1.1. Impact Analysis
3.2. Restrains and Challenges
3.2.1. Impact Analysis
3.3. Porter’s Analysis
Market by Source
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