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NEW YORK, Feb. 3, 2022 /PRNewswire/ — The “Clean Energy Technologies Market by Technology (Hydropower, Clean coal, Wind, Solar, and Others) and Geography (APAC, Europe, North Americaand ROW) – Forecast and Analysis 2021-2025” report has been added to Technavio’s offering. With ISO 9001:2015 certification, Technavio is proudly partnering with more than 100 Fortune 500 companies for over 16 years. The potential growth difference for the clean energy technologies market between 2020 and 2025 is USD 81.65 billion . The report also identifies the market to register an accelerating growth momentum at a CAGR of 5.22% during the forecast period.
To get the exact yearly growth variance and the YOY growth rate, Talk to our analyst.
Key Market Dynamics:
- Market Drivers
The increase in investments in clean energy technologies and rising demand for clean energy sources are some of the key market drivers. Stringent government regulations on minimizing carbon emissions and promotion of clean energy technologies such as solar PV and wind farm across the world has increased considerably in the recent years. Furthermore, in a view to promote the usage of green technologies, there has been a rise in investments in clean energy technologies such as solar energy, nuclear energy, and energy-efficient coal-fired power generation. This will further fuel the market’s growth during the forecast period.
- Market Challenge
However, factors such as competition from other sources of energy will challenge market growth. The use of fossil fuels such as coal, oil, natural gas, and other non-renewable energy sources accounts for a significant portion of the global energy mix which is expected to impede the growth during the forecast period. Moreover, the cost of the establishment of renewable energy farms for power generation is quite high, and the power output from renewable sources is not at par compared with the output from non-renewable sources such as coal and natural gases. Such factors are projected to negatively impact the growth of the global clean energy technologies market during the forecast period.
To learn about additional key drivers, trends, and challenges available with Technavio. Read…
Full story available on Benzinga.com
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