Green Power Market Ecosystem Set to Grow at CAGR 16.7% from 2025 to 2029, Driven by Urbanization Trend and Regulatory Changes

 

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Green Power Market Size, Green Power Market Growth, Nuclear Power Market, Biofuels Market, Carbon Capture And Storage Market, Bio Power Market, Green Power Market Trends, Green Power Market Forecast, Green Power Market Segments, Green Power Market Analysis

What Market Size and Growth Are Expected In The Green Power Market From 2024 To 2029?
The green power market is set to experience significant growth from $87.7 billion in 2024 to $100.54 billion in 2025, with a compound annual growth rate (CAGR) of 14.6%. The historic growth can be attributed to factors such as corporate sustainability goals, government incentives and subsidies, energy independence initiatives, environmental concerns and regulations, and a reduction in renewable energy costs.
Looking forward, the size of the green power market is projected to reach $186.66 billion by 2029, showcasing a CAGR of 16.7%. This rapid growth is expected to be fuelled by various factors including changes in policies and regulations, evolving market demands, consumer behavior trends, cost reduction, and economies of scale. Moreover, global energy transition initiatives are driving major trends in the forecast period such as decentralization of energy generation, advancements in storage solutions, corporate renewable procurement, emergence of offshore wind and electrification of transportation.

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What Is Propelling The Growth Of The Green Power Market?
The green power market is experiencing growth mainly due to urbanization. Urbanization, which is defined as the process of population concentration in cities, leads to a substantial increase in energy consumption. In response to the surge in energy demand and the need to reduce emissions, urban areas are prioritizing the use of renewable energy sources as a sustainable energy option for the future. For instance, according to the World Meteorological Organization (WMO), 3.5 billion people resided in urban areas in 2022. This number is projected to reach 6.3 billion by 2050, increasing from 50% to over 70% of the world's population. Hence, increasing urbanization is a key driver for the growth of the green power market.

Which Market Segments Are Covered In The Green Power Market Report?

- By Offering: Solutions, Services
- By Type: Solar Energy, Wind Energy, Hydroelectric Power, Biofuels, Other Types
- By End-User: Residential, Commercial, Industrial

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Which Companies Are The Major Players In The Green Power Market?
Major companies operating in the green power market include General Electric Renewable Energy LLC, Siemens Gamesa Renewable Energy S.A., Trina Solar Co. Ltd., Adani Green Energy Limited, Robert Bosch GmbH, Earthlinked Technologies Inc., Ormat Technologies Inc., Senvion S.A., Ørsted A/S, Tata Power Company Limited, Iberdrola S.A., Brookfield Renewable Energy Partners L.P., Enel S.p.A., First Solar Inc., Nordex SE, Yingli Solar Holdings Co. Ltd., Constellation Energy Corporation, NextEra Energy, Vestas Wind Systems A/S, Canadian Solar Inc., Daqo New Energy Corp, Plug Power Inc., Algonquin Power & Utilities Corp., Capstone Green Energy Corporation, VivoPower International Plc, Xcel Energy Inc., Duke Energy Corporation, American Electric Power Company Inc., Dominion Energy Inc., Bloom Energy Corporation.

What Key Trends Are Shaping The Green Power Market?
Product innovation is a leading trend in the green power market. Companies are committed to innovating new technologies to maintain their market position. For example, GE (General Electric Company) launched Lifespan in May 2022. Lifespan is a new digital product portfolio (wind asset management platform) that enables customers to optimize the performance and operations of renewable assets across their fleet. The Lifespan suite is fully integrated, technology-agnostic, and designed in collaboration with operators to improve operations and performance.

Which Is The Fastest Growing Region In The Green Power Market?
Europe was the largest region in the green power market in 2024. However, the Asia-Pacific region is projected to be the fastest-growing region during the forecast period. The regions included in the green power market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

What Does The Green Power Market Report 2025 Offer?
Green power is a subset of renewable energy that generates from natural resources to provide the greatest environmental benefit. The Green Power Market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.

Purchase the exclusive report now to unlock valuable market insights:
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About The Business Research Company
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Our flagship product, the Global Market Model, is a premier market intelligence platform delivering comprehensive and updated forecasts to support informed decision-making.

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