Renewable Energy Market Size, Share, Trends & Industry Growth Report 2030

Name: Renewable Energy Market Size, Share, Trends & Industry Growth Report 2030
Creator: Mordor Intelligence
License: https://www.mordorintelligence.com/privacy-policy

Global Renewable Energy Market Size and Share

Market Overview

Study Period	2020 - 2030
Market Volume (2025)	5.08 Thousand gigawatt
Market Volume (2030)	7.04 Thousand gigawatt
Growth Rate (2025 - 2030)	8.94% CAGR
Fastest Growing Market	South America
Largest Market	Asia Pacific
Market Concentration	Low
Major Players *Disclaimer: Major Players sorted in no particular order Image © Mordor Intelligence. Reuse requires attribution under CC BY 4.0.

Global Renewable Energy Market (2025 - 2030) — Image © Mordor Intelligence. Reuse requires attribution under CC BY 4.0.

Global Renewable Energy Market Analysis by Mordor Intelligence

The Global Renewable Energy Market size is estimated at 5.08 Thousand gigawatt in 2025, and is expected to reach 7.04 Thousand gigawatt by 2030, at a CAGR of 8.94% during the forecast period (2025-2030).

A sharp fall in technology costs, supportive government policies, and rising corporate demand underpin this expansion. Solar power led the renewable energy market in 2024 with 42% of capacity and is forecast to grow at a 13% CAGR through 2030. Utility-scale projects remain the backbone of growth, but commercial and industrial (C&I) installations are gaining momentum as companies hedge against volatile fossil-fuel prices and tighten sustainability targets. Asia-Pacific holds the largest regional share, while South America is advancing the fastest on the back of pro-investment reforms and plentiful wind and solar resources.

Key Report Takeaways

By technology, solar captured 42% of renewable energy market share in 2024; offshore wind is projected to expand at 13% CAGR through 2030.
By end-use, utilities accounted for 65% of the renewable energy market size in 2024, whereas C&I installations are set to advance at a 10% CAGR to 2030.
By region, Asia-Pacific held 55% of the renewable energy market share in 2024, while South America is forecast to post a 16% CAGR between 2025 and 2030.

Global Renewable Energy Market Trends and Insights

Drivers Impact Analysis

Driver	(~) % Impact on CAGR Forecast	Geographic Relevance	Impact Timeline
Corporate power-purchase agreements boosting utility-scale builds	2.10%	North America, Europe, Asia-Pacific	Medium term (2-4 years)
Hyperscale data-centre demand accelerating solar-wind procurement	1.80%	Nordics, Ireland, Western Europe	Short term (≤ 2 years)
Green-hydrogen gigawatt pipelines adding capacity	1.50%	MENA, Australia, Europe	Long term (≥ 4 years)
EU fast-track permitting cutting onshore-wind lead times	1.20%	Southern Europe, wider EU	Medium term (2-4 years)

Source: Mordor Intelligence

Corporate power-purchase agreements accelerating utility-scale builds in North America & Europe

Corporate power-purchase agreements (CPPAs) are now central to renewable energy procurement as tech firms and manufacturers lock in clean electricity for AI, cloud, and heavy-industry operations. An example is ENGIE’s 85 CPPAs covering 4.3 GW signed in 2024, equal to 136 TWh of supply. Voluntary corporate offtake deals already support around half of new US utility-scale projects, providing developers with bankable revenue and lowering the cost of capital. Flexible “virtual” PPAs let buyers hedge price risk without physical delivery, although rising grid tariffs and complex contracting still deter smaller firms.

Hyperscale data-centre demand boosting solar-wind procurement in the Nordics & Ireland

Data-centre electricity demand is projected to reach 945 TWh by 2030, up from 415 TWh in 2024. Operators gravitate to the Nordics and Ireland for cool climates and abundant renewables. In May 2024 Microsoft signed a long-term CPPA that adds 30 MW of wind power from Lenalea Wind Farm in Ireland sse.com. Workload-shifting lets data centres act as flexible loads that absorb surplus wind power, reducing curtailment and increasing the renewable energy market’s integration capability.^{[1]International Energy Agency, “Electricity 2025: Analysis and forecast,” iea.org}

Green-hydrogen gigawatt pipelines driving capacity additions in MENA & Australia

MENA alone has 242 GW of announced green-hydrogen projects that could require 96 GW of dedicated renewables by 2030. Australia’s Hunter Hydrogen Infrastructure Masterplan aims to create a leading hydrogen hub, catalysing solar and wind builds. Key hurdles include high production costs and slow financial close, but policy incentives and falling electrolyser prices are narrowing the gap.

EU ‘REPowerEU’ fast-track permitting cutting onshore-wind lead times (<12 months) in Southern Europe

The revised Renewable Energy Directive caps project review at two years, and at one year in “accelerated areas”.^{[2]European Commission, “REPowerEU: EU energy policy,” commission.europa.eu} Spain’s electronic one-stop shops helped double national renewable capacity despite grid limits. Staffing shortages and spatial-planning conflicts remain, yet streamlined permitting is easing bottlenecks and supporting the renewable energy market.

Restraints Impact Analysis

Restraint	(~) % Impact on CAGR Forecast	Geographic Relevance	Impact Timeline
Grid congestion & curtailment risks in ERCOT and Inner Mongolia	-1.90%	US, China, Europe	Medium term (2-4 years)
End-of-life blade-waste regulations raising costs	-1.20%	Germany, France, wider EU	Long term (≥ 4 years)

Source: Mordor Intelligence

Grid congestion & curtailment risks in ERCOT (US) and Inner Mongolia (CN)

Solar and wind curtailment in ERCOT rose 29% in 2024 to 3.4 million MWh. West Texas resources and sparse transmission create bottlenecks that mirror China’s Inner Mongolia, where similar constraints slow the renewable energy market. Battery storage and grid-enhancing devices are viable fixes, but deployment lags capacity additions, eroding developer revenue and deterring future projects.

End-of-life blade-waste regulations raising costs in Germany & France

Landfill bans on composite turbine blades in Germany and proposed rules in France push operators toward costly recycling routes. Global blade waste could top 40 million tons by 2050. Mechanical recycling yields low-value filler, and advanced pyrolysis remains expensive, raising life-cycle costs for wind developers across the renewable energy market.

Segment Analysis

By Technology: Solar energy remains the growth engine

Solar commanded 42% of capacity in 2024 and will rise at 13% CAGR to 2030. Utility-scale solar is now the cheapest new generation option in many countries.^{[3]International Energy Agency, “Electricity 2025: Analysis and forecast,” iea.org} The renewable energy market size for solar installations is forecast to expand by 80% by 2030, aided by perovskite-silicon tandem cells achieving 31.6% lab efficiencies. Module oversupply, however, is squeezing producer margins, prompting diversification into domestic manufacturing in the United States and Europe to trim reliance on Chinese imports.

Massive installations such as China’s desert solar bases and India’s ultramega parks illustrate economies of scale that drive cost parity with conventional power. Residential rooftop uptake is also improving through third-party ownership and virtual net metering, easing upfront costs for households. These trends cement solar’s role as the leading contributor to renewable energy market capacity.

Market Analysis of Renewable Energy Market: Chart for Type — Image © Mordor Intelligence. Reuse requires attribution under CC BY 4.0.

By Technology: Wind energy consolidates its strategic role

Onshore and offshore wind add diversity to the renewable energy market, growing at roughly 8% annually. Turbine ratings now exceed 18 MW offshore, lifting energy capture per foundation. Yet inflation and supply-chain stress lifted costs above bid levels, forcing renegotiation and, in some cases, cancellation of power-purchase agreements. The renewable energy market size for offshore wind is forecast to double by 2025, but developers seek greater policy predictability to de-risk capital allocation.

End-of-life blade recycling mandates in Europe and local-content rules in India illustrate how policy can inflate costs if supply chains lag. Competition from low-cost Asian turbines is pushing Western manufacturers to focus on service contracts, digital optimisation, and modular designs to retain market presence.

By End-Use: Utility segment retains scale advantage

Utility projects held 65% of capacity in 2024 due to economies of scale and state procurement targets. Competitive auctions in India cleared 12 GW of solar at record lows in 2024, cementing cost leadership. High penetration, however, tests grid flexibility. Approximately 1 TW of solar-plus-storage is stuck in US interconnection queues, showing how transmission delays restrict renewable energy market growth.

The C&I segment is advancing at a 10% CAGR as firms hedge long-term energy costs and decarbonise supply chains. A 5.7 MW array now powers Toyota Boshoku America’s US plant, showing on-site generation’s rising appeal. Flexible clean-energy tariffs and off-balance-sheet financing underpin adoption across manufacturing and logistics.

Global Renewable Energy Market — Image © Mordor Intelligence. Reuse requires attribution under CC BY 4.0.

By End-Use: Residential uptake relies on customer economics

Net metering reforms and rising interest rates cut US residential solar installs by 26% in 2024, but third-party leasing is spurring a rebound. Bundling rooftop solar with battery storage and electric-vehicle charging enhances value and grid resilience, drawing homeowners back into the renewable energy market. Digital monitoring and smart inverters help networks manage two-way power flows during peak generation.

Geography Analysis

Asia-Pacific owns 55% of the renewable energy market capacity, led by China’s 64% share of new global additions in 2024.^{[4]International Renewable Energy Agency, “Renewable Capacity Statistics 2025,” irena.org} India’s renewable energy market size is set to quadruple to 62 GW by 2030 under incentive schemes, while Southeast Asian nations tackle storage and grid constraints. Foreign direct investment topped USD 58 billion in 2024, underlining investor confidence despite policy variability.

South America posts the fastest growth at 16% CAGR. Brazil recorded solar and wind additions in 2024, though rising transmission charges and permitting delays temper investor enthusiasm. Chile and Colombia are also scaling up merchant solar projects, helped by growing spot-market liquidity.

North America benefits from US tax credits within the Inflation Reduction Act. Solar capacity will climb 35% by 2025, though grid congestion slows project energisation. Corporate PPAs now dominate procurement in Texas and the Midwest, aligning data-centre needs with abundant wind and solar resources.

Europe is targeting 1,200 GW of renewables by 2030 through REPowerEU. Spain doubled its renewable capacity despite grid bottlenecks, and Italy is piloting capacity-market reforms that reward flexibility. Supply-chain competition with low-cost Chinese manufacturers challenges the European wind sector, though revamped permitting rules are shortening lead times.

MENA leverages cheap solar irradiation for green hydrogen. Saudi Arabia shortlisted 3.7 GW of solar in its 2024 tender round, including the 2 GW Al Sadawi project. Egypt’s Benban complex and the UAE’s Al Dhafra plant showcase large-scale builds that feed domestic grids and future hydrogen export hubs.

Market Analysis of Renewable Energy Market: Forecasted Growth Rate by Region — Image © Mordor Intelligence. Reuse requires attribution under CC BY 4.0.

Competitive Landscape

The renewable energy market’s concentration varies by segment. Chinese firms command 80-95% of the solar PV supply chain, driving module prices to record lows and straining producers elsewhere. Wind-turbine competition is intensifying, with European OEMs restructuring to match lower-cost Asian rivals. Consolidation, strategic partnerships, and service-led revenue streams are emerging responses.

Energy-transition M&A reached USD 497 billion in 2024, 13.4% of global deal value, signalling a shift toward integrated portfolios. RWE’s long-term supply deal with Meta and UbiQD’s purchase of BlueDot Photonics illustrate moves that align technology and generation assets. Battery energy storage systems (BESS) are forecast to top 170 GW by 2030, unlocking stacked revenue models that include frequency regulation and capacity payments.

Innovation remains a key differentiator. AI-driven forecasting tools cut imbalance penalties, while modular hydrogen electrolyser skids reduce installation time. Large-scale hybrid solar-plus-storage projects, such as the 500 MW Valmy Grassroot facility in Nevada, show how integrated designs capture multiple revenue streams and bolster grid reliability.

Global Renewable Energy Industry Leaders

NextEra Energy, Inc.
Ørsted A/S
Iberdrola, S.A.
Vestas Wind Systems A/S
JinkoSolar Holding Co. Ltd.
*Disclaimer: Major Players sorted in no particular order

Renewable Energy Market Concentration — Image © Mordor Intelligence. Reuse requires attribution under CC BY 4.0.

Need More Details on Market Players and Competitors?

Download PDF

Recent Industry Developments

May 2025: REplace raised USD 2.1 million for an AI site-selection platform that speeds renewable project development.
May 2025: Toyota Boshoku America began a 5.7 MW solar build at its Kentucky plant.
February 2025: The Hunter Hydrogen Infrastructure Masterplan launched in Australia, charting a path to a leading hydrogen hub.
January 2025: The USD 1.2 billion Valmy Grassroot solar-plus-storage project was announced in Nevada.

Table of Contents for Global Renewable Energy Industry Report

1. Introduction

1.1 Study Assumptions & Market Definition
1.2 Scope of the Study

2. Research Methodology

3. Executive Summary

4. Market Landscape

4.1 Market Overview
4.2 Renewable Energy Mix, 2024
4.3 Market Drivers
- 4.3.1 Corporate Power-Purchase Agreements Accelerating Utility-scale Builds in North America & Europe
- 4.3.2 Hyperscale Data-Centre Demand Boosting Solar-Wind Procurement in the Nordics & Ireland
- 4.3.3 Green-Hydrogen Gigawatt Pipelines Driving Capacity Additions in MENA & Australia
- 4.3.4 EU 'REPowerEU' Fast-Track Permitting Cutting Onshore-Wind Lead-Times (<12 Months) in Southern Europe
4.4 Market Restraints
- 4.4.1 Grid Congestion & Curtailment Risks in ERCOT (US) and Inner Mongolia (CN)
- 4.4.2 End-of-Life Blade Waste Regulations Raising Costs in Germany & France
- 4.4.3 Lack of Long-Duration Storage Slowing High VRE Penetration in SE-Asia
- 4.4.4 Local-Content Mandates Inflating Offshore-Wind CAPEX in India & Brazil
4.5 Supply-Chain Analysis
4.6 Regulatory Outlook
4.7 Technological Outlook
4.8 Recent Trends & Developments
4.9 Porter's Five Forces
- 4.9.1 Bargaining Power of Suppliers
- 4.9.2 Bargaining Power of Consumers
- 4.9.3 Threat of New Entrants
- 4.9.4 Threat of Substitute Products & Services
- 4.9.5 Intensity of Competitive Rivalry

5. Market Size & Growth Forecasts

5.1 By Technology
- 5.1.1 Solar Energy (PV and CSP)
- 5.1.2 Wind Energy (Onshore and Offshore)
- 5.1.3 Hydropower (Small, Large, PSH)
- 5.1.4 Bioenergy
- 5.1.5 Geothermal
- 5.1.6 Ocean Energy (Tidal and Wave)
5.2 By End-User
- 5.2.1 Utility
- 5.2.2 Commercial and Industrial
- 5.2.3 Residential
5.3 By Geography
- 5.3.1 North America
- 5.3.1.1 United States
- 5.3.1.2 Canada
- 5.3.1.3 Mexico
- 5.3.2 Europe
- 5.3.2.1 United Kingdom
- 5.3.2.2 Germany
- 5.3.2.3 France
- 5.3.2.4 Spain
- 5.3.2.5 Nordic Countries
- 5.3.2.6 Russia
- 5.3.2.7 Rest of Europe
- 5.3.3 Asia-Pacific
- 5.3.3.1 China
- 5.3.3.2 India
- 5.3.3.3 Japan
- 5.3.3.4 South Korea
- 5.3.3.5 Malaysia
- 5.3.3.6 Thailand
- 5.3.3.7 Indonesia
- 5.3.3.8 Vietnam
- 5.3.3.9 Australia
- 5.3.3.10 Rest of Asia-Pacific
- 5.3.4 South America
- 5.3.4.1 Brazil
- 5.3.4.2 Argentina
- 5.3.4.3 Colombia
- 5.3.4.4 Rest of South America
- 5.3.5 Middle East and Africa
- 5.3.5.1 United Arab Emirates
- 5.3.5.2 Saudi Arabia
- 5.3.5.3 South Africa
- 5.3.5.4 Egypt
- 5.3.5.5 Rest of Middle East and Africa

6. Competitive Landscape

6.1 Market Concentration
6.2 Strategic Moves (M&A, JVs, Funding, PPAs)
6.3 Market Share Analysis (Market Rank/Share for key companies)
6.4 Company Profiles (includes Global-level Overview, Market-level Overview, Core Segments, Financials, Strategic Information, Products & Services, Recent Developments)
- 6.4.1 EPC Developers / Operators / Owners
- 6.4.1.1 NextEra Energy, Inc.
- 6.4.1.2 Orsted A/S
- 6.4.1.3 Iberdrola, S.A.
- 6.4.1.4 EDF Renewables (EDF S.A.)
- 6.4.1.5 Duke Energy Corporation
- 6.4.1.6 Berkshire Hathaway Energy
- 6.4.1.7 Acciona Energia S.A.
- 6.4.1.8 Engie S.A.
- 6.4.1.9 China Three Gorges Corporation
- 6.4.1.10 Enel Green Power S.p.A.
- 6.4.1.11 Statkraft A.S.
- 6.4.1.12 Pattern Energy Group
- 6.4.1.13 Invenergy LLC
- 6.4.1.14 RWE Renewables GmbH
- 6.4.1.15 ACWA Power
- 6.4.1.16 EDP Renovaveis S.A.
- 6.4.1.17 Brookfield Renewable Partners L.P.
- 6.4.1.18 ReNew Energy Global PLC
- 6.4.1.19 Scatec ASA
- 6.4.2 Equipment Suppliers
- 6.4.2.1 First Solar, Inc.
- 6.4.2.2 Vestas Wind Systems A/S
- 6.4.2.3 Siemens Gamesa Renewable Energy S.A.
- 6.4.2.4 GE Vernova (General Electric)
- 6.4.2.5 JinkoSolar Holding Co. Ltd.
- 6.4.2.6 Canadian Solar Inc.
- 6.4.2.7 Longi Green Energy Technology Co., Ltd.
- 6.4.2.8 Goldwind Science & Technology Co., Ltd.
- 6.4.2.9 Trina Solar Co., Ltd.
- 6.4.2.10 Enphase Energy, Inc.
- 6.4.2.11 Sungrow Power Supply Co., Ltd.
- 6.4.2.12 Mitsubishi Power, Ltd.
- 6.4.2.13 Nordex SE
- 6.4.2.14 MHI Vestas Offshore Wind A/S
- 6.4.2.15 Shanghai Electric Group Co., Ltd.
- 6.4.2.16 Hitachi Energy Ltd.
- 6.4.2.17 ABB Ltd.
- 6.4.2.18 Climeon AB
- 6.4.2.19 Pelamis Wave Power Ltd. (in Administration)
- 6.4.2.20 Ocean Power Technologies, Inc.

7. Market Opportunities & Future Outlook

7.1 White-space & Unmet-Need Assessment

You Can Purchase Parts Of This Report. Check Out Prices For Specific Sections

Get Price Break-up Now

Global Renewable Energy Market Report Scope

Renewable energy is the energy collected from renewable resources such as sunlight, wind, water movement, and geothermal heat that are naturally replenished.

The global renewable energy market is segmented by type and geography. By type, the market is segmented into solar, wind, hydro, bioenergy, and other types. The report also covers the installed capacity and forecasts for the renewable energy market across major regions. For each segment, the market size and forecasts have been done based on installed capacity.

By Technology	Solar Energy (PV and CSP)
	Wind Energy (Onshore and Offshore)
	Hydropower (Small, Large, PSH)
	Bioenergy
	Geothermal
	Ocean Energy (Tidal and Wave)
By End-User	Utility
	Commercial and Industrial
	Residential

By Geography	North America	United States
		Canada
		Mexico

	Europe	United Kingdom
		Germany
		France
		Spain
		Nordic Countries
		Russia
		Rest of Europe

	Asia-Pacific	China
		India
		Japan
		South Korea
		Malaysia
		Thailand
		Indonesia
		Vietnam
		Australia
		Rest of Asia-Pacific

	South America	Brazil
		Argentina
		Colombia
		Rest of South America

	Middle East and Africa	United Arab Emirates
		Saudi Arabia
		South Africa
		Egypt
		Rest of Middle East and Africa

By Technology

Solar Energy (PV and CSP)

Wind Energy (Onshore and Offshore)

Hydropower (Small, Large, PSH)

Bioenergy

Geothermal

Ocean Energy (Tidal and Wave)

By End-User

Utility

Commercial and Industrial

Residential

By Geography

North America	United States
	Canada
	Mexico
Europe	United Kingdom
	Germany
	France
	Spain
	Nordic Countries
	Russia
	Rest of Europe
Asia-Pacific	China
	India
	Japan
	South Korea
	Malaysia
	Thailand
	Indonesia
	Vietnam
	Australia
	Rest of Asia-Pacific
South America	Brazil
	Argentina
	Colombia
	Rest of South America
Middle East and Africa	United Arab Emirates
	Saudi Arabia
	South Africa
	Egypt
	Rest of Middle East and Africa

Need A Different Region or Segment?

Customize Now

Key Questions Answered in the Report

What is the current size of the renewable energy market?

The market stood at 4,448 GW in 2024 and is set to reach 7,041 GW by 2030 at an 8.94% CAGR.

Which technology leads the renewable energy market?

Solar power leads with 42% of capacity in 2024 and is projected to grow at 13% CAGR through 2030.

Why are corporate PPAs important for renewable growth?

PPAs provide long-term revenue certainty that eases project financing, with corporate offtake now backing about half of new US utility-scale builds.

How does grid congestion affect renewable projects?

Curtailments in regions such as ERCOT rose 29% in 2024, reducing developer revenue and delaying new capacity until transmission upgrades arrive.

What role will energy storage play by 2030?

Battery energy storage systems could exceed 170 GW globally, providing flexibility, frequency regulation, and additional revenue stacking opportunities that stabilise high-renewable grids.

What regions are growing fastest in renewable capacity?

South America posts the highest regional CAGR at 16% to 2030, while Asia-Pacific maintains the largest installed base.