The global clean energy infrastructure market has expanded rapidly owing to a variety of causes, the most notable of which is increased global awareness and adoption of sustainable energy solutions. As the globe faces the problems of climate change and the need for cleaner & more efficient energy sources, industries are rapidly recognizing the need for sophisticated technology, particularly in the field of clean energy infrastructure.
WILMINGTON, Del., Aug. 16, 2024 /PRNewswire/ -- Allied Market Research published a report, titled, "Clean Energy Infrastructure Market by Infrastructure Type (Power Generation Facilities, Energy Storage Systems, Transmission and Distribution Networks), and End-Use (Residential, Commercial and Industrial): Global Opportunity Analysis and Industry Forecast, 2024-2033". According to the report, the clean energy infrastructure market was valued at $0.6 trillion in 2023, and is estimated to reach $1.5 trillion by 2033, growing at a CAGR of 9.3% from 2024 to 2033.
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Prime determinants of Clean Energy Infrastructure Market growth
The global clean energy infrastructure market has experienced growth due to several factors such as increased demand for clean and sustainable energy solutions in response to climate change and environmental concerns. Governments, businesses, and consumers are increasingly recognizing the importance of transitioning away from fossil fuels towards renewable energy sources such as solar, wind, hydroelectric, and biomass. Moreover, Advancements in clean energy technologies are also driving market growth. Innovations in solar photovoltaics, wind turbines, energy storage systems, and smart grid technologies are improving the efficiency, reliability, and affordability of clean energy infrastructure market.
Report coverage & details:
Report Coverage | Details |
Forecast Period | 2024-2033 |
Base Year | 2023 |
Market Size in 2023 | $0.6 trillion |
Market Size in 2033 | $1.5 trillion |
CAGR | 9.3 % |
No. of Pages in Report | 340 |
Segments Covered | Infrastructure Type, End-Use, and Region |
Drivers | • Rise in investment in renewable projects. • Public Demand for Sustainable Energy Solutions. |
Opportunity | • Energy Storage Solutions and Grid Integration Technologies. |
Restraints | • High production costs • Grid Integration Challenges |
The energy storage systems segment is expected to maintain its dominance by 2033
By Infrastructure type, the energy storage systems segment is expected to dominate the market due to the increase in deployment of renewable energy. As renewable energy sources such as solar and wind power become more prevalent, the need for energy storage systems to mitigate intermittent and ensure grid stability becomes paramount. Energy storage enables the efficient capture and utilization of renewable energy, thereby facilitating its integration into the electricity grid.
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The industrial segment is expected to maintain its dominance by 2033
Industrial facilities typically have higher energy demands compared to residential and commercial buildings due to the nature of their operations. Industries such as manufacturing, mining, and heavy engineering require significant amounts of energy for processes such as heating, cooling, and powering machinery. As a result, there is a strong incentive for industrial companies to invest in clean energy infrastructure to reduce energy costs, improve operational efficiency, and enhance competitiveness.
The Asia-Pacific segment is expected to maintain its dominance by 2033
By region, Asia-pacific dominated the clean energy infrastructure market in 2023. Asia-Pacific region is rich in renewable energy resources, such as solar, wind, hydroelectric, biomass, and geothermal power. Countries in the region have significant untapped potential for renewable energy generation, making clean energy infrastructure a viable and attractive option for meeting energy demand sustainably.
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Leading Market Players: -
- NextEra Energy, Inc.
- Enel Spa, Iberdrola, S.A,
- Canadian Solar.
- First Solar
- SunPower Corporation.
- ACCIONA ENERGÍA
- Suzlon Energy Limited
- Adani Group
- Tata Power
The report provides a detailed analysis of these key players in the clean energy infrastructure market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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