Clean Energy Technologies Global Market Report 2024

The clean energy technologies market size has grown strongly in recent years. It will grow from $423.75 billion in 2023 to $461.49 billion in 2024 at a compound annual growth rate (CAGR) of 8.9%. The growth observed in the historical period can be attributed to several factors, including increasing global awareness of climate change and the imperative for decarbonization, government policies and regulations supporting clean energy initiatives, rising demand for electricity and energy security, and declining costs associated with clean energy technologies.

The clean energy technologies market size is expected to see strong growth in the next few years. It will grow to $614.76 billion in 2028 at a compound annual growth rate (CAGR) of 7.4%. The anticipated growth in the forecast period can be attributed to several factors, including the increasing demand for renewable energy sources, the expansion of renewable energy capacity, investments in clean energy manufacturing and supply chains, the influence of climate legislation, and the emergence of corporate sustainability initiatives. Major trends expected during this period include digitalization and AI integration in clean energy systems, advancements in energy storage technologies, continued cost reduction in clean energy solutions, development of the hydrogen economy, and the implementation of smart grid technologies.

The escalating concerns regarding environmental issues are anticipated to act as a driving force behind the expansion of the clean energy technologies market. Environmental concerns encompass a broad spectrum of challenges related to the condition of the natural environment and its impact on ecosystems, human health, and global well-being. These concerns encompass diverse issues such as pollution, climate change, habitat destruction, and depletion of natural resources, all of which are exacerbated by human activities. Clean energy technologies play a pivotal role in mitigating these environmental challenges by aiming to curb greenhouse gas emissions, reduce reliance on finite fossil fuels, and promote sustainable energy practices. Data from the World Health Organization underscores the urgency of addressing environmental issues, with projections indicating a significant impact on human health and well-being due to climate change. Against this backdrop, the imperative to adopt clean energy technologies becomes increasingly apparent as a means to address these pressing environmental concerns.

Key players within the clean energy technologies market are strategically focusing on technological advancements to meet the growing demand for sustainable energy solutions. One such innovation is exemplified by the introduction of the Lifespan digital suite, a comprehensive portfolio of digital solutions designed to optimize renewable energy assets' efficiency, performance, and longevity. This suite of digital solutions represents a significant advancement in enabling customers to harness renewable energy resources more effectively. For instance, General Electric Company, a prominent US-based renewable energy firm, unveiled the Lifespan digital product portfolio in May 2022. This innovative suite of products is characterized by its integration, technology-agnostic nature, and collaborative development approach with operators, all aimed at driving operational improvements across renewable energy fleets. By leveraging digital solutions such as Lifespan, companies are poised to enhance the scalability and sustainability of clean energy technologies, thereby contributing to the global transition towards a cleaner and more environmentally responsible energy landscape.

In October 2022, Masdar, a renewable energy company based in the United Arab Emirates (UAE), completed the acquisition of Arlington Energy for an undisclosed sum. This strategic move enables Masdar to facilitate the development, construction, operational management, and financing of renewable energy storage projects through the Masdar-Arlington platform. Arlington Energy, headquartered in the UK, specializes in clean energy technology, particularly in managing battery storage, gas peaking, and large-scale solar PV sites.

Major companies operating in the clean energy technologies market report are Enel Green Power S.p.A., Tesla Inc., Mitsubishi Heavy Industries Ltd., NextEra Energy Inc., Alstom SA, Shanghai Electric Group Company Limited, Trina Solar Limited, Vestas Wind Systems A/S, General Electric Renewable Energy, JinkoSolar Holding Co. Ltd., Ørsted A/S, China National Nuclear Corporation, Siemens Gamesa Renewable Energy S.A., JA Solar Holdings Co. Ltd., Dongfang Electric Corporation Limited, Canadian Solar Inc., Xinjiang Goldwind Science & Technology Co. Ltd., Brookfield Renewable Partners L.P., First Solar Inc., SolarEdge Technologies Inc., SunPower Corporation, Suntech Power Holdings Co. Ltd., LDK Solar Co. Ltd., Yingli Green Energy Holding Company Limited, Envision Energy Co. Ltd., Shanghai Taisheng Wind Power Equipment Co. Ltd.

Asia-Pacific was the largest region in the clean energy technologies market in 2023. The regions covered in the clean energy technologies market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the clean energy technologies market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Clean energy technologies encompass a wide range of technologies and practices aimed at generating, distributing, storing, and utilizing energy from renewable and sustainable sources while mitigating environmental impact. The objective is to replace conventional energy sources that contribute to climate change through the release of greenhouse gases.

The primary types of clean energy technologies include clean coal technology, wind energy, solar energy, and nuclear energy. Clean coal technology involves methods and equipment utilized to reduce the environmental footprint of coal-based energy generation by minimizing emissions of pollutants such as sulfur dioxide and nitrogen oxides. These technologies encompass various approaches including hydropower, wind, solar, and others, applicable across industrial, residential, and commercial sectors.

The clean energy technologies market research report is one of a series of new reports that provides clean energy technologies market statistics, including clean energy technologies industry global market size, regional shares, competitors with clean energy technologies market share, detailed clean energy technologies market segments, market trends, and opportunities, and any further data you may need to thrive in the clean energy technologies industry. This clean energy technologies market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The clean energy technologies market includes revenues earned by entities by providing consulting and advisory services, project development and management, and installation and integration services. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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