The global green power market size reached USD 72.6 Billion in 2024. Looking forward, IMARC Group expects the market to reach USD 172.4 Billion by 2033, exhibiting a growth rate (CAGR) of 9.59% during 2025-2033.
Report Attribute
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Key Statistics
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Base Year
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2024
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Forecast Years
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2025-2033
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Historical Years
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2019-2024
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Market Size in 2024
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USD 72.6 Billion |
Market Forecast in 2033
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USD 172.4 Billion |
Market Growth Rate (2025-2033) | 9.59% |
Green power refers to the electrical energy generated from environment-friendly and renewable sources, such as geothermal, wind, solar, and low-impact biomass and hydropower. Its production does not release toxic greenhouse gases into the atmosphere, resulting in very little or no environmental impact. It helps offset the emissions of oxide, nitrogen dioxide, and sulfur dioxide, which causes less damage to the environment and human health compared to their conventional counterparts.
The growing global population and rapid urbanization are leading to the rising need for electricity generation. This represents one of the key factors positively influencing the market. The increasing construction of residential and commercial buildings, along with the expansion of various industries, are driving the consumption of electricity, which is impelling the market growth. Apart from this, the rising awareness among the masses about the health and environmental benefits of green power is creating a positive market outlook. The shifting consumer preference towards electric vehicles (EVs) is also contributing to the market growth. EVs eliminate tailpipe emissions, minimize dependence on fossil fuels, enhance community health, safeguard energy security, and improve employment and upskilling. This, in turn, is catalyzing the demand for naturally replenished green power sources. The rapid electrification of the transportation and industrial sectors, along with the expansion of the electrical value chain in the oil and gas industry, is stimulating market growth. Furthermore, rising government initiatives to install renewable energy sources are offering lucrative growth opportunities to manufacturers. Additionally, governments of various countries are organizing awareness campaigns to educate individuals about the availability of green power sources. Moreover, numerous innovations and advantages associated with renewable energy are resulting in faster energy transition, thus bolstering the green power industry.
IMARC Group provides an analysis of the key trends in each sub-segment of the global green power market report, along with forecasts at the global, regional and country level from 2025-2033. Our report has categorized the market based on power source and end use sector.
Breakup by Power Source:
Breakup by End Use Sector:
Breakup by Region:
The competitive landscape of the industry has also been examined along with the profiles of the key players being 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 Features | Details |
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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) |
The global green power market was valued at USD 72.6 Billion in 2024.
We expect the global green power market to exhibit a CAGR of 9.59% during 2025-2033.
The growing demand for electrical energy that is generated from environment-friendly and renewable sources, such as geothermal, wind, solar, low-impact hydropower, etc., is primarily driving the global green power market.
The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across several nations, resulting in the temporary closure of numerous end-use industries for green power.
Based on the power source, the global green power market has been segregated into wind, solar, low impact hydro, biomass, and others. Among these, wind currently holds the largest market share.
Based on the end use sector, the global green power market can be bifurcated into transport, industrial, non-combusted, buildings, and others. Currently, the building sector exhibits a clear dominance in the market.
On a regional level, the market has been classified into North America, Asia-Pacific, Europe, Latin America, and Middle East and Africa, where Europe currently dominates the global market.
Some of the major players in the global green power market 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.