The global wind tower market was valued at $24,974.3 million in 2021, which is further expected to increase to $51,972.4 million by 2030, advancing at a CAGR of 8.5% during the forecast period.
The Indian non-solar high-capacity inverter market size stood at $391.3 million in 2021 and is projected to reach $760.1 million by 2030, advancing at a CAGR of 7.7% during 2021–2030.
The global carbon capture, utilization, and storage market size was valued at $2,037.0 million in 2021, and it is expected to advance at a CAGR of 27.3% during 2021–2030, to reach $17,835.6 million by 2030.
The data center UPS market size stood at $5,729.0 million in 2021, and it is expected to rise at a compound annual growth rate of 6.5% during 2021–2030.
The global flywheel energy storage market was valued around $300.0 million in 2020. This is driven by the increasing need for electricity in remote places, rising government policies related to the production of electricity, and surging need to change the traditional energy generation methods, which are currently expensive.
The global bioethanol market stood around $38.0 billion in 2020, and is expected to grow at a significant rate during the forecast period. The major factors responsible for the growth of the market are the increasing need for sustainable alternative fuels, depletion of natural resources, surging energy consumption, and excessive greenhouse gas production.
The global biodiesel market generated revenue of around $39.0 billion in 2020. The major factors responsible for the growth of the market are the increasing demand for biodiesel to replace crude oil, surging research and development (R&D) activities on it, and different government initiatives and mandatory regulations for its adoption.
The global distributed solar power generation market is projected to showcase a strong growth during the forecast period (2021–2030), on account of increasing installation of solar panels.
The hydrogen market revenue stood at $136,185.0 million in 2019, and it is expected to witness a CAGR of 4.3% during 2020–2030.
The South African charcoal briquettes market stood at $136.0 million in 2019, and it is expected to reach $286.7 million by 2030, demonstrating a CAGR of 8.8% during the forecast period (2020–2030).
At the end of 2019, the market for floating solar panels generated $685.2 million, which is expected to reach $2,301.8 million by 2026. The increasing concerns regarding the usage of fossil fuels for generating power, along with the continuously increasing energy demand, are some of the key factors which drive the floating solar panels market.
The offshore wind turbine market size was $24,683.3 million in 2019. This market thrives on factors such as the implementation of favorable government policies in several countries, huge investments being made in renewable energy sources, and constant technological advancements in offshore plants.
The global ultra-thin solar cells market valued $30.0 million in 2019, and it is expected to grow at a CAGR of 56.9% during the forecast period (2020–2030). The declining prices of such photovoltaic (PV) panel components and rising demand for renewable energy are the key factors driving the advance of the industry around the world.
Increasing demand for energy storage, microgrid and artificial intelligence (AI) technologies, and digitization, and falling costs of installation of renewable energy solutions are some of the key trends observed in the global renewable energy market.
A prominent trend observed in the global mechanical energy storage market is the utility application of energy storage and associated grid technologies. As utility-scale solar technology maintains and gains popularity, utility asset owners are now looking to store energy to smooth peak demand curves and provide back-up power.
The major trend identified in the global solar tracker market is the development of the solar trackers for non-standard sites, such as capped landfills. Traditionally, solar trackers are mounted on posts that are driven directly into the ground or less frequently on posts that use concrete foundations or ballast.
The key trend identified in the global compressed air energy storage market is growing demand for efficient energy storage systems that result in declining the usage of diabatic energy storage system, due to its low efficiency as compared to other storage systems.
In the global smart solar market, the increasing demand for energy from residential and industrial end users and depleting natural resources have resulted in the need to control the energy consumption and switch to more efficient and cleaner energy generation source.
The perovskite solar cell (PSC) market holds a high potential for growth during the forecast period, due to the increasing research and development activities for PSCs, along with the increasing awareness on the advantages offered by these over silicon photovoltaic (PV) devices. A PSC is a solar cell with a perovskite-structured compound, which offers superconductivity and magnetoresistance.
A solar pump or a solar-powered pump is a system, which operates on electricity generated by photovoltaic panels, in order to pump water. It is a suitable alternative to traditional generators that run on fossil fuels for pumping water, since it generates electricity using sunlight.
Prominent market trends identified in the global biogas market include mergers and acquisitions between market players, and technology transfer by major companies to sustain or strengthen their market share. A number of these activities are supported by governments in order to reduce dependency on conventional energy sources and to reduce the threat from global warming and harmful effects of greenhouse gases.
Growing adoption of rooftop solar photovoltaics (PV) panels in residential and commercial installations for generation of power using solar energy and increased investment by major players in the solar energy industry for the development of rooftop solar PV panels are the key trends witnessed in the global rooftop solar PV market.
Major trend being witnessed in the global green energy market is increased investment in the development of power projects associated with clean and green energy. Owing to the limited availability of the conventional fuels such as oil, gas, and coal along with associated pollution released by consumption of these fuel sources, a large number of countries are investing in clean energy sources including solar energy, hydropower, wind energy, biofuels, and geothermal energy.
Increasing environmental awareness among customers, provision of government incentives and tax rebates to install solar panels, and significantly reducing prices of key components to make solar cells/modules, such as silver and polysilicon, are the key factors driving the growth of solar panel market. Cost-effective renewable forms of energy are gaining wide acceptance over conventional sources of energy.
The global dye-sensitized solar cells market was valued at $28,451.4 thousand in 2017 and is projected to reach $60,589.4 thousand by 2023, witnessing a CAGR of 13.2% during the forecast period.
Advanced biofuel are the fuels, which can be produced from various types of non-food biomass such as agricultural waste streams, lignocellulose, woody crops, and others. This type of biofuel is known as second-generation biofuel.
The global solar panel recycling market is estimated to be valued at $80.7 million in 2017 and is projected to reach $269.8 million by 2023, witnessing a CAGR of 22.0% during the forecast period. Increasing adoption of solar power as a source of energy and favorable government regulations supporting sustainable development are the key factors driving the market growth.
The global virtual power plant (VPP) market was valued at $1,975.1 million in 2017, and it is expected to display a CAGR of 18.6% during the forecast period (2018–2023), reaching $5,510.2 million by 2023.
The global solar encapsulant market was valued at $1,036.0 million in 2017, and is expected to surpass $4,555.4 million by 2023 with a CAGR of 28.4% between 2018 and 2023.
Solar photovoltaic (PV) glass is a technology that incorporates transparent semiconductor-based photovoltaic cells, known as solar cells, enabling the conversion of sunlight into electricity. These solar cells are embedded between two glass panes and are used for PV applications in either crystalline silicon or thin film form. For crystalline silicon solar cells, solar PV cells use ultra-clear figured glass as cover, while for thin film solar cells, super clear float glass is used.
The global hydrogen storage market was valued at $426.4 million in 2015, and it is predicted to register a CAGR of 7.6% during the forecast period (2016–2026), reaching $991.7 million by 2026.
The global planar solid oxide fuel cell (SOFC) market stood at $379.9 million in 2015, and it is expected to reach $804.9 million by 2022, demonstrating a CAGR of 11.4% during the forecast period (2016–2022).
The global wind energy foundation market is projected to grow at a significant level, during the forecast period, on account of increasing demand for clean energy resources and rising number of installations in the wind power sector. Wind energy is expected to be the largest application in terms of value in the global power production during the forecast period (2016 - 2022), due to increasing government reforms and policies focusing on adaptation of renewable
The global air core drilling market is poised to grow at a robust pace during the forecast period (2016 - 2022) on account of increasing requirement for effective techniques for extraction in applications such as mines and oil and gas wells. Additionally, factors such as increasing energy demands, rising investments in exploration and production (E&P) activities and advancement in air core drilling technology are further expected to drive the market for air
According to the U.S. Department of Energy (DOE), CSP is a technology that generates solar power by using mirrors to reflect and concentrate sunlight onto receivers. The technology is gaining traction in the global concentrating solar power market. CSP technologies could collect solar energy, convert it into thermal energy for power generation and stored to produce electricity as and when required. This would in turn, enable CSP systems to be used as a
The global string inverter market is expected to grow at a robust pace, during the forecast period (2016-2022). Several characteristic features such as easy installation and customization, decline in system cost and removal of efforts in system monitoring are expected to support overall growth in the market; however, the higher heat loss due to the large size and no panel level monitoring are expected to hinder the growth of global string inverter market. String inverters are used in residential sectors, commercial and indus
The global solar micro inverters market generated the revenue of $431.6 million in 2015, and is projected to reach $1,968.7 million by 2026, registering a CAGR of 15.3% during the forecast period (2016–2026).
The global geothermal power market is projected to advance at a CAGR of 11.6% during the forecast period (2016–2022) and reach $6,518.9 million by 2022.