Renewable Energy

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The Renewable Energy market, encompassing sources like solar, wind, hydro, geothermal, and biomass, is experiencing exponential growth driven by global decarbonization mandates and the urgent need for energy security. This shift is fueled by declining technology costs, government incentives, and corporate sustainability initiatives, positioning renewables as increasingly competitive alternatives to fossil fuels. (2026-2033)

Global Renewable Energy market is forecast to exhibit a Compounded Annual Growth Rate (CAGR) of approximately 7.34% to 9.47% during the 2026-2033 period. Market size is projected to increase significantly, rising from a base value of around USD 1.085 trillion in 2024 to estimated revenue of over USD 2.27 trillion by 2033. This growth is primarily powered by solar PV and onshore wind capacity expansion.

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