What are the growth factors of Renewable Energy Certificate Market?
The rising demand for the various types of power and the government policies that mandates a company to meet the required targets to use of renewable energy is among the most prominent factors that primarily contribute to the growth of the global renewable energy certificate market.
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The increased pollution levels and deteriorating environmental conditions owing to the rapid industrialization and extensive carbon emission has now mandated the use of the green energy across the industries all over the globe. The burgeoning sales of the solar panels, micro hydro-power plants, and micro wind turbines are supplementing the growth of the renewable energy certificate market.The stringent government regulations regarding the use of renewable energy sources is a significant factor that is expected to drive the growth of the global renewable energy certificate market. The rising investments in the development of hydro power plant that produces electricity of around 100 KW using flowing water sources is supplementing the market growth. The rising preference of the green energy is fostering the revenue generation through the trade of the renewable energy certificates across the globe.
Renewable Energy Certificate Market size is expected to reach over USD 100.96 billion by 2030 from USD 12.72 billion in 2021, expanding growth at a CAGR of 25.9% from 2021 to 2030.
- North America dominated the global renewable energy certificate market in 2020. This is mainly attributed to the implantation of stricter government regulations regarding the carbon emissions and development of the renewable energy sources across the North America.
- Europe is expected to be the fastest-growing market during the forecast period, owing to the burgeoning demand for the green energy across different industries. The rising focus and investments in Europe on achieving sustainability and reducing carbon footprint is perfectly supplementing the growth of the renewable certificate market in Europe.
- Based on the energy type, the solar energy segment dominated the global renewable certificate market in 2020. This is attributed to the increased adoption of the solar energy across the globe. Further, the rising government initiatives and government investments to develop solar panels and increase its adoption across the globe has fueled the growth of this segment. The rising investments from the private sector to develop the solar power plants on large scale is expected to further foster the growth of the solar energy renewable energy certificate market across the globe.
- Based on the capacity, the 5000 KWH segment dominated the global renewable certificate market in 2020.The rapidly growing number of wind and solar farms across the globe owing the rising demand for the renewable energy and rising government and corporate investments is driving the growth of this segment.
- Based on the end use, the compliance segment dominated the global renewable certificate market in 2020. The increased government initiatives and stringent norms that compels the various sectors to increasingly adopt the renewable energy sources in an attempt to minimize the carbon emission, acts as a major drive of this segment.
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OBJECTIVES OF THE STUDY
- To analyze and forecast the Renewable Energy Certificate market, in terms of value and volume
- To provide information about the key factors influencing the growth of the market (drivers, restraints, opportunities, and challenges)
- To define, segment, and project the size of the global Renewable Energy Certificate market on the product type, end-use and other segments
- To project the size of the market, with respect to five main regions, namely, North America, Europe, Asia Pacific (APAC), the Middle East & Africa, and South America, with their key countries
- To strategically analyze micromarkets with respect to individual growth trends, growth prospects, and their contribution to the total market
- To analyze opportunities in the market for stakeholders and provide a competitive landscape of the market leaders
- To strategically profile key players and comprehensively analyze their core competencies
- To track and analyze research & development (R&D) and competitive developments such as joint ventures, mergers & acquisitions, and new product developments in the Renewable Energy Certificate market
- Market estimate for 2021
- Average selling price (ASP) per region for specific product type
- Filtrations and assortment of gathered data, to estimate the base year (2021) market size for the country
- Gathering data from company websites, annual reports, white papers, financial reports, broker reports, investor presentations, and SEC filings
- National government documents, statistical databases
- News articles, press releases, and webcasts specific to companies operating in the market
- Country wise analysis through internal and external proprietary databases, and relevant patent and regulatory databases
- Determination of market penetration by country
Major Players Covered in this Report
The updated market research report on Renewable Energy Certificate market allows the buyers and manufacturers to stay updated with the current market trends, ongoing happenings, and a clear picture on the market scenario. List of key players included in the research report will help the market vendors to know their market position and plan more operational strategies to gain topmost position among other players. The report offers crucial company information on each market player, such as company profile, financial information, and recently adopted growth strategies. This will help other existing players and the new entrants to plan strategies and establish their presence in the market.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
- Company Overview
- Company Market Share/Positioning Analysis
- Product Offerings
- Financial Performance
- Recent Initiatives
- Key Strategies Adopted by Players
- Vendor Landscape
- List of Suppliers
- List of Buyers
Segments Covered in the Report
By Energy Type
- Wind Power
- Solar Energy
- Gas Power
- Hydro-electric Power
By End Use
- 0-1000 KWh
- 1000-5000 KWH
- Greater that 5000 KWH
- North America
- Asia Pacific
- South Korea
- Rest of the World
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