NewEnergyNews: New Energy Market Could Be $2.1 Trillion By 2025

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    Friday, September 07, 2018

    New Energy Market Could Be $2.1 Trillion By 2025

    Renewable Energy Market to Garner 2,152.9 Billion by 2025 at 4.9% CAGR

    September 5, 2018 (Market Insider)

    “…[The global renewable energy market could] reach $2,152.9 billion by 2025 from $1,469.0 billion in 2017, registering a CAGR of 4.9% from 2017 to 2025…Continuous depletion of non-renewable energy sources such as coal and petroleum, increase in demand for renewable energy, and long-term cost-effectiveness associated with use of renewable energy resources have propelled the growth…[Increased] awareness about environmental safety & sustainability and proactive government initiatives to promote adoption of renewable energy have augmented the growth…[High costs associated with initial infrastructural setup could] impede the market growth…[but increases in government funding and measures to promote technological developments are] expected to provide lucrative opportunities…

    The hydro & ocean power segment contributed nearly 63% of the total market share in 2017 [according to Allied Market Research] and is expected to maintain its dominance by the end of 2025…[The solar energy segment is likely to grow fastest, with a] CAGR of 13.4% from 2017 to 2025…[Other New Energies] accounted for nearly 44% of the total market share in 2017 and would remain dominant through 2025…[T]he commercial end user segment is projected to register the highest CAGR of 5.7% during the forecast period…The Asia-Pacific region contributed nearly two-fifths share of the total market in 2017. However, Europe is expected to grow at the fastest CAGR of 6.2% from 2017 to 2025, owing to supportive government initiatives…” click here for more

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