The global enhanced geothermal system (EGS) market is expected to reach $1,354.2 million by 2030, growing with a CAGR of 4.4% during the forecast period 2021-2030.
The Asia-Pacific waste to energy market is projected to grow from $XX billion in the year 2018 to $13.66 billion by 2023, at a CAGR of XX% from 2018 to 2023.
The Europe waste to energy market is projected to grow from $XX billion in the year 2018 to $21.99 billion by 2023, at a CAGR of XX% from 2018 to 2023.
The offshore wind energy market is projected to grow from $XX million in the year 2018 to $50,450.9 million by 2023, at a CAGR of XX% from 2018 to 2023.
Renewable energy possesses a vast expanse of untapped market potential, and irrespective of its abundant availability, it is yet to achieve a wide scale adoption among both government and private bodies. The solar energy market (PV and solar thermal) has gained significant traction in the recent past, and is anticipated to attain almost 265GW and 568GWth of cumulative capacity by 2020 for solar PV
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To create the energy security in the developing countries of Asia Pacific region, the abundantly available renewable energy resources are being widely adopted, in order to reduce reliance on the conventional sources of energy.
Clean & Renewable Energy
Energy being the core necessity of various end use industries such as residential, commercial, industrial, electric power, and transportation, has considerable environmental impacts. As per the International Energy Outlook 2017, the global energy consumption is expected to grow by 50% between the years 2010 and 2040, along with the increasing use of fossil fuels. This is also supposed to give a boost to the renewable energy market. However, currently, around 29 countries globally fulfill more than 90% of their energy requirements from fossil fuels.
Several industries across the globe such as oil and gas, chemical, and transportation, among others are dependent on fossil fuels for electricity/power generation. Although these fuels are very effective, they are subjected to depletion in the long run. Moreover, these fossil fuels are the origin of greenhouse gases which further lead to global warming. Thus, the shift from fossil fuels to renewable sources of energy and the development of clean energy are of utmost importance for effectively dealing with climate change and its effects.
The shift from fossil fuels to renewable and clean sources of energy is of utmost importance for effectively dealing with climate change and its effects. The renewable energy market has seen the emergence of many new and renewable energy resources like waste to energy market, wind or solar hybrids, more sophisticated grid management techniques, and increasingly affordable storage systems.
BIS Research understands the need for sustainable and renewable energy sources and has compiled market intelligence on emerging green energy technologies. While highlighting the key driving and restraining forces for the renewable energy market, these reports also provides a comprehensive section of the prominent consortiums, compliances, and regulatory bodies, as well as their involvement in the temperature control market through in depth renewable energy market analysis.
In addition to this there is a lot of work being done in the research and development of the companies as the companies are investing substantially to make their existing systems more efficient to be environment friendly. The main aim of these regulations is to ensure that the renewable energy market can grow through the companies' efforts on reducing their carbon footprint and increasing their energy efficiency, which not only protects the environment but also reduces the usage cost.
BIS Research's renewable energy market report talks about the dynamics of the market and highlights the key drivers and restraining forces along with certain untapped opportunities of this market. The study provides the readers with an adequate understanding of the current status of the market by presenting detailed information on existing competitors as well as new competition in the market.
Renewable energy possesses a vast expanse of untapped market potential, and irrespective of its abundant availability, it is yet to achieve a wide scale adoption among both government and private bodies.
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