ALBANY, N.Y.--(BUSINESS WIRE)--The research study titled “Green Energy (Solar PV, Wind energy, Hydroelectric power, Bio-fuels, Geothermal energy) Market- Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019”, published by Transparency Market Research estimates the market to grow at a CAGR of 8.3% between 2013 and 2019. In terms of revenue, the market stood at US$470.10 billion in 2012.
The green energy market report offers a thorough insight on the overall market, also covering the environmental, technological, economic, and social issues hindering the green energy business across the globe.
Green energy is a product of a clean energy source causing minimal pollution and typically includes biofuels, hydropower, wind energy, solar photovoltaic, and geothermal resources. The importance of renewable energy sources is increasing in regions such as North America and Asia-Pacific due to rising prices of fossil fuels, increased environmental concerns, technological improvements, and increased spending power.
Some of the main growth factors driving the growth of this market include environment concerns, increased investments in technology research and development, need for natural gas hedging, supportive regulatory frameworks, energy security issues, and increased awareness of green energy.
Furthermore, the report segments the overall market based on end users, energy types, and major geographical segments. In terms of segmentation by energy type, the hydroelectric power segment was the most dominant source of energy in 2012, while the solar PV market segment is expected to rise rapidly in the next four years. The demand for solar PV is significantly growing in residential sectors due to the growing awareness about and high consumption of green energy. The commercial sector is also likely to witness growth of the green energy market owing to increased government regulations mandating eco-friendly functioning.
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Transparency Market Research (TMR) is a U.S. based market intelligence company driven by high-pedigree consultants and researchers. TMR leverages its Syndicated Research, Custom Research, and Market Consulting expertise to help businesses make accurate decisions. TMR’s exclusive blend of quantitative forecasting and trends analysis draws on proprietary data sources and techniques, while their data repository is continuously updated to reflect the latest trends.