Global Green Power Market to Reach USD 172.4 Billion by 2033, Impelled by Growing Pollution Level

December 20, 2024 | Energy & Mining

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According to the latest report by IMARC Group, titled "Green Power Market Report by Power Source (Wind, Solar, Low Impact Hydro, Biomass, and Others), End Use Sector (Transport, Industrial, Non-combusted, Buildings, and Others), and Region 2025-2033," the global green power market size reached USD 72.6 Billion in 2024. Green power is generated from natural resources, including wind, sunlight or water. It is a subset of renewable energy that provides various environmental benefits, such as reducing the emission of toxic gases, which causes less damage to human and environmental health. It replaces the adverse effects of fossil fuels with more environmentally friendly alternatives as it is derived from natural resources. With the increasing investments by private and public agencies in infrastructural development projects and smart city initiatives, there has been a significant rise in the demand for green power across the globe.

Global Green Power Market Trends:

The global market is primarily driven by the growing pollution level. Coupled with the rising need for electricity across residential, commercial and industrial sectors, this is creating a positive market outlook. With an enhanced focus on sustainable development, there has been a considerable increase in the demand for green power across the globe. In addition to this, numerous initiatives undertaken by the governments of several countries and the introduction of several schemes and financial assistance to promote the uptake of green power are significantly supporting the overall market. Along with this, the increasing manufacturing and selling of electric vehicles (EVs) due to the widespread consumer preference for eco-friendly alternatives is acting as a growth-inducing factor. Furthermore, the rapid electrification of the automotive sector, along with the development of the electrical value chain across the oil and gas industry, is influencing the market favorably. Moreover, continual technological advancements across the globe are bolstering the market. Other factors, including rapid industrialization and extensive research and development (R&D) activities conducted by key players, are further creating a positive market outlook. Looking forward, the market value is projected to reach USD 172.4 Billion by 2033, expanding at a CAGR of 9.59% during 2025-2033.

Market Summary:

On the basis of the power source, the market has been segmented into wind, solar, low impact hydro, biomass and others.
Based on the end use sector, the market has been classified into transport, industrial, non-combusted, buildings and others.
On the basis of the region, the market has been divided into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Latin America (Brazil, Mexico and others) and the Middle East and Africa.
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market. Some of the key players include ABB Ltd., Acciona S.A., Adani Green Energy Limited (Adani Group), Électricité de France S.A., GE Renewable Energy (General Electric Company), Iberdrola S.A., Innergex Renewable Energy (Hydro-Québec), Invenergy LLC, NextEra Energy Inc., Orsted AS, Siemens Energy AG, Suzlon Energy Limited and Tata Power Company Limited.

Report Scope:

Report Features	Details
Base Year of the Analysis	2024
Historical Period	2019-2024
Forecast Period	2025-2033
Units	Billion USD
Segment Coverage	Power Source, End Use Sector, Region
Region Covered	Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered	United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered	ABB Ltd., Acciona S.A., Adani Green Energy Limited (Adani Group), Électricité de France S.A., GE Renewable Energy (General Electric Company), Iberdrola S.A., Innergex Renewable Energy (Hydro-Québec), Invenergy LLC, NextEra Energy Inc., Orsted AS, Siemens Energy AG, Suzlon Energy Limited and Tata Power Company Limited
Customization Scope	10% Free Customization
Post-Sale Analyst Support	10-12 Weeks
Delivery Format	PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

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Global Green Power Market to Reach USD 172.4 Billion by 2033, Impelled by Growing Pollution Level

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