Renewable Energy Sources Market Report 2025 (Global Edition)

Global Renewable Energy Sources Market Report 2025 Market Size Split by Type of Renewable Energy Source (Solar Energy, Wind Energy, Hydropower, Biomass Energy, Geothermal Energy, Ocean Energy), by App...

Renewable Energy Sources Market Report Description

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Impact of Trumph Tariff on Energy and Power Industry

In 2025, global trade entered a turbulent phase as the U.S., under President Donald Trump, introduced aggressive "Liberation Day Tariffs" to address trade imbalances. These tariffs, ranging from 10% to 46%, heavily impacted the energy and power sector, which relies on global supply chains for critical components like rare earth metals, solar panels, wind turbines, and lithium. The U.S.–China trade war escalated, with reciprocal tariffs and China's trade surplus with the U.S. reaching USD 102.6 billion. Retaliatory tariffs from the EU and Canada further disrupted energy supply chains, raising material costs and causing delays in key projects.

The U.S. imposed a 20% tariff on rare earths, impacting EVs and clean tech; 25% on solar panels, increasing installation costs; 15–25% on wind turbine parts, affecting project timelines; and 10–15% on oil and gas equipment, pushing producers to rethink supply networks. Sub-sectors like renewables, EVs, oil & gas, and power generation are all experiencing rising costs, supply bottlenecks, and delayed investments. For instance, solar and wind projects now face 10–30% higher costs, and EV producers are struggling with battery input inflation.

China remains central to the U.S. energy supply chain, with even indirect imports via countries like Vietnam and Malaysia tightly linked to Chinese inputs. As a result, U.S. energy firms are exploring alternative sourcing from Southeast Asia, Latin America, and domestic production to reduce exposure. However, switching suppliers requires significant investment, coordination, and time.

In this volatile environment, market research is critical. It helps energy firms map supplier risks, track price trends, and explore alternative sourcing. It enables supply chain optimization through AI and predictive analytics, while regulatory tracking and scenario planning allow companies to anticipate future disruptions. Energy firms like NextEra and First Solar are responding by diversifying suppliers, investing in local production, and leveraging digital tools to improve procurement and adapt to tariff-driven challenges. Those using data-driven strategies and flexible operations are best positioned to thrive amid rising trade tensions.

Renewable Energy Sources Market Insights Video

Competitive Landscape of the Renewable Energy Source Market

The competitive landscape of the renewable energy source market is characterized by a mix of established players and emerging companies focused on innovation and sustainability. Key players like NextEra Energy and Iberdrola dominate the market with extensive portfolios in solar and wind energy. The landscape is increasingly influenced by technological advancements, partnerships, and government policies promoting renewable energy adoption. Emerging startups are leveraging advancements in energy storage and smart grid technologies, creating a dynamic environment that fosters competition and collaboration across the sector.

In May 2022, NJR Clean Energy Ventures (CEV) has begun building an 8.9-MW floating solar project in Millburn, New Jersey, projected to be the largest floating solar array in the United States. This installation will utilize a floating racking system and will feature 16,510 solar panels set up on a reservoir at the Canoe Brook Water Treatment Plant operated by New Jersey American Water. The electricity generated is expected to fulfill around 95% of the facility's annual energy requirements through a power purchase agreement with CEV. (Source: https://www.njresources.com/news/releases/2022/njrcev/22-20-canoebrookfloatingsolar.aspx) In December 2022, Amazon has revealed plans for one of its initial wind-solar hybrid initiatives in India, partnering with Vibrant Energy, a subsidiary linked to Macquarie's Green Investment Group (GIG). These two projects will generate a combined capacity of 300 megawatts (MW) of renewable energy and will be situated in the states of Madhya Pradesh and Karnataka. (Source: https://press.aboutamazon.in/news-releases/news-release-details/amazon-announces-its-first-two-wind-solar-hybrid-projects-be) In Janaury 2022, SJVN (Satluj Jal Vidyut Nigam Ltd) secured a 125 MW solar project in Uttar Pradesh following a competitive bidding process organized by the Uttar Pradesh New and Renewable Energy Development Agency (UPNEDA). This initiative comprises a 75 MW grid-connected solar project located in Jalaun and a 50 MW solar project in the Kanpur Dehat district. (Source: https://economictimes.indiatimes.com/industry/renewables/sjvn-bags-125-mw-solar-projects-in-up/articleshow/88838567.cms?from=mdr)

Top Companies Market Share in Renewable Energy Sources Industry: (In no particular order of Rank)

• NextEra Energy
• Inc.
• Iberdrola S.A.
• Enel Green Power S.p.A.
• Siemens Gamesa Renewable Energy
• Vestas Wind Systems A/S
• Canadian Solar Inc.
• First Solar
• Inc.
• Brookfield Renewable Partners L.P.
• Ørsted A/S
• EDP Renewables
• GE Renewable Energy
• SunPower Corporation
• RWE AG
• TotalEnergies SE
• Acciona Energy
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*List of Second Tier Companies, List of Third Tier/ Start-up Companies (Inquire with sales executive) Request Any Company Profile for Preview Purpose OR Data Validation!

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Regional Analysis of the Renewable Energy Source Market

Which Region Dominates the Renewable Energy Source Market in 2024?

According to Cognitive Market Research, North America currently dominates the Renewable Energy Source market, and the region is expected to have significant growth during the projected period. This is due to the region's strong government support, favorable policies, and significant investments in clean energy technologies. The region boasts abundant natural resources, particularly for solar and wind energy, driving extensive project development. Additionally, corporate sustainability commitments and increasing public awareness of climate change have spurred demand for renewable energy solutions. Technological advancements and decreasing costs further enhance the competitiveness of renewable sources, solidifying North America's leadership in the market.

Which Region is Expanding at the Fastest CAGR?

The Asia Pacific region is growing at the fastest CAGR in the renewable energy source market due to rapid industrialization, urbanization, and increasing energy demand. Countries like China and India are making substantial investments in solar, wind, and hydropower to diversify their energy mix and reduce pollution. Government initiatives promoting renewable energy adoption and ambitious carbon reduction targets further drive growth. Additionally, technological advancements and declining costs of renewable technologies enhance accessibility, making clean energy solutions increasingly viable in the region.

The current report Scope analyzes Renewable Energy Sources Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com

• North America (United States, Canada, Mexico)
• Europe (United Kingdom, France, Germany, Italy, Russia, Spain, Sweden, Denmark, Switzerland, Luxembourg, Rest of Europe)
• Asia Pacific (China, Japan, South Korea, India, Australia, Singapore, Taiwan, South East Asia, Rest of APAC)
• Latin America (Brazil, Argentina, Colombia, Peru, Chile, Rest of South America)
• Middle East (Saudi Arabia, Turkey, UAE, Egypt, Qatar, Rest of Middle East)
• Africa (Nigeria, South Africa, Rest of Africa)

The above graph is for illustrative purposes only.

North America Renewable Energy Sources Market Analysis

According to Cognitive Market Research, the global Renewable Energy Source market size was estimated at USD 915245.5 Million, out of which North America held the major market share of more than 40% of the global revenue with a market size of USD 366098.20 million in 2024 and will grow at a compound annual growth rate (CAGR) of 15.4% from 2024 to 2031.

• According to Cognitive Market Research, the US had a major share in the Renewable Energy Source market with a market size of USD 288851.48 million in 2024 and is projected to grow at a CAGR of 15.2% during the forecast period. The U.S. market's increasing government initiatives and incentives aimed at reducing carbon emissions is driving the Renewable Energy Source market.
• The Canada Renewable Energy Source market had a market share of USD 43931.78 million in 2024 and is projected to grow at a CAGR of 16.2% during the forecast period. Canada’s environmental issues is driving the Renewable Energy Source market.
• The Mexico Renewable Energy Source market is projected to witness growth at a CAGR of 15.9% during the forecast period, with a market size of USD 33314.94 million in 2024.

Europe Renewable Energy Sources Market Analysis

According to Cognitive Market Research, the global Renewable Energy Source market size was estimated at USD 915245.5 Million, out of which Europe held the market share of more than 30% of the global revenue with a market size of USD 274573.65 million in 2024 and will grow at a compound annual growth rate (CAGR) of 15.7% from 2024 to 2031.

• The United Kingdom Renewable Energy Source market had a market share of USD 46128.37 million in 2024 and is projected to grow at a CAGR of 16.5% during the forecast period. In the UK, Renewable Energy Source sales witness an upswing due to rising emphasis on sustainability and eco-friendly living.
• The France Renewable Energy Source market is projected to witness growth at a CAGR of 14.9% during the forecast period, with a market size of USD 25260.78 million in 2024.
• According to Cognitive Market Research, the German Renewable Energy Source market size was valued at USD 54365.58 million in 2024 and is projected to grow at a CAGR of 15.9% during the forecast period. In Germany, Renewable Energy Source surged due to presence of major market players.
• The Italy Renewable Energy Source market is projected to witness growth at a CAGR of 15.1% during the forecast period, with a market size of USD 23613.33 million in 2024.
• The Russia Renewable Energy Source market is projected to witness growth at a CAGR of 14.7% during the forecast period, with a market size of USD 42558.92 million in 2024.
• The Spain Renewable Energy Source market is projected to witness growth at a CAGR of 14.8% during the forecast period with a market size of USD 22515.04 million in 2024
• The Luxembourg Renewable Energy Source market is projected to witness growth at a CAGR of 15.8% during the forecast period, with a market size of USD 8511.78 million in 2024.
• The Portugal Renewable Energy Source market is projected to witness growth at a CAGR of 15.5% during the forecast period, with a market size of USD 5766.05 million in 2024.
• The Greece Renewable Energy Source market is projected to witness growth at a CAGR of 16.0% during the forecast period, with a market size of USD 3294.88 million in 2024.
• The Rest of Europe's Renewable Energy Source market is projected to witness growth at a CAGR of 14.4% during the forecast period, with a market size of USD 42558.92 million in 2024.

Asia Pacific Renewable Energy Sources Market Analysis

According to Cognitive Market Research, the global Renewable Energy Source market size was estimated at USD 915245.5 Million, out of which Asia Pacific held the market share of around 23% of the global revenue with a market size of USD 210506.47 million in 2024 and will grow at a compound annual growth rate (CAGR) of 19.2% from 2024 to 2031.

• According to Cognitive Market Research, the China Renewable Energy Source market size was valued at USD 94727.91 million in 2024 and is projected to grow at a CAGR of 18.7% during the forecast period. Renewable Energy Source surged in China due to increasing energy demands and a strong push for sustainable development.
• The Japan Renewable Energy Source market is projected to witness growth at a CAGR of 17.7% during the forecast period, with a market size of USD 29049.89 million in 2024.
• The India Renewable Energy Source market had a market share of USD 25260.78 million in 2024 and is projected to grow at a CAGR of 21.0% during the forecast period. India's need for energy diversification is driving the Renewable Energy Source market.
• The South Korean Renewable Energy Source market is projected to witness growth at a CAGR of 18.3% during the forecast period, with a market size of USD 21050.65 million in 2024.
• The Australian Renewable Energy Source market is projected to witness growth at a CAGR of 18.9% during the forecast period, with a market size of USD 10946.34 million in 2024.
• The South East Asia Renewable Energy Source market is projected to witness growth at a CAGR of 20.2% during the forecast period, with a market size of USD 14524.95 million in 2024.
• The Rest of Asia Pacific Renewable Energy Source market is projected to witness growth at a CAGR of 19.0% during the forecast period, with a market size of USD 14945.96 million in 2024.

South America Renewable Energy Sources Market Analysis

According to Cognitive Market Research, the global Renewable Energy Source market size was estimated at USD 915245.5 Million, out of which the Latin America held the market share of around 5% of the global revenue with a market size of USD 45762.28 million in 2024 and will grow at a compound annual growth rate (CAGR) of 16.6% from 2024 to 2031.

• According to Cognitive Market Research, the Brazil Renewable Energy Source market size was valued at USD 19586.25 million in 2024 and is projected to grow at a CAGR of 17.2% during the forecast period. Renewable Energy Source flourished in Brazil due to abundant natural resources, such as solar and wind, which offer significant potential for clean energy generation.
• Argentina's Renewable Energy Source market had a market share of USD 7688.06 million in 2024 and is projected to grow at a CAGR of 17.5% during the forecast period. Argentina's favorable policies and incentives to attract investments in renewable projects is driving the Renewable Energy Source market.
• Colombia Renewable Energy Source market is projected to witness growth at a CAGR of 16.4% during the forecast period, with a market size of USD 4072.84 million in 2024.
• Peru Renewable Energy Source market is projected to witness growth at a CAGR of 16.8% during the forecast period, with a market size of USD 3752.51 million in 2024.
• Chile Renewable Energy Source market is projected to witness growth at a CAGR of 16.9% during the forecast period, with a market size of USD 3294.88 million in 2024.
• The Rest of Latin America's Renewable Energy Source market is projected to witness growth at a CAGR of 15.7% during the forecast period, with a market size of USD 7367.73 million in 2024.

Middle East Renewable Energy Sources Market Analysis

According to Cognitive Market Research, the global Renewable Energy Source market size was estimated at USD 915245.5 Million, out of which the Middle East and Africa held the major market share of around 2% of the global revenue with a market size of USD 18304.91 million in 2024 and will grow at a compound annual growth rate (CAGR) of 16.9% from 2024 to 2031..

• The GCC Countries Renewable Energy Source market is projected to witness growth at a CAGR of 17.7% during the forecast period, with a market size of USD 7834.50 million in 2024. Renewable Energy Source sales flourish due to the presence of major market players.
• The Egypt Renewable Energy Source market is projected to witness growth at a CAGR of 17.2% during the forecast period, with a market size of USD 1922.02 million in 2024.
• The South Africa Renewable Energy Source market is projected to witness growth at a CAGR of 17.9% during the forecast period, with a market size of USD 2892.18 million in 2024. Renewable Energy Source sales flourished in South Africa due to need for energy diversification and sustainability.
• The Turkey Renewable Energy Source market is projected to witness growth at a CAGR of 16.4% during the forecast period, with a market size of USD 1574.22 million in 2024.
• The Nigeria Renewable Energy Source market is projected to witness growth at a CAGR of 16.0% during the forecast period, with a market size of USD 1922.02 million in 2024.
• The Rest of the MEA Renewable Energy Source market is projected to witness growth at a CAGR of 15.9% during the forecast period, with a market size of USD 2159.98 million in 2024.

Renewable Energy Sources Market Analysis

Renewable Energy Source Market Type of Renewable Energy Source Segment Analysis

According to Cognitive Market Research, Solar Energy are likely to dominate the Renewable Energy Source Market over the forecast period. Solar energy captured the largest market share in the renewable energy source market due to its versatility, scalability, and decreasing costs. Technological advancements have improved the efficiency of solar panels, making them more accessible for residential, commercial, and utility-scale applications. Government incentives and subsidies have further stimulated adoption, alongside growing awareness of environmental sustainability. Additionally, the abundant availability of sunlight in many regions enhances its viability as a primary energy source, positioning solar energy as a leader in the renewable sector.

Wind energy is growing at the highest CAGR in the renewable energy source market due to its cost-effectiveness and efficiency. Technological advancements have led to larger, more efficient turbines that harness wind power more effectively, lowering the cost per megawatt. Increasing investments from both government and private sectors, coupled with ambitious renewable energy targets, are driving expansion. Additionally, the growing awareness of climate change and the need for clean energy solutions further boost the adoption of wind energy globally.

The above Chart is for representative purposes and does not depict actual sale statistics. Access/Request the quantitative data to understand the trends and dominating segment of Renewable Energy Sources Industry. Request a Free Sample PDF!

Renewable Energy Source Market Application Segment Analysis

According to Cognitive Market Research, The Electricity Generation segment holds the largest market share. Electricity generation captured the largest market share in the renewable energy source market due to the rising demand for clean and sustainable power solutions. As countries aim to reduce greenhouse gas emissions, transitioning to renewable sources for electricity generation has become a priority. Technologies such as solar, wind, and hydroelectric power provide scalable solutions to meet increasing energy needs. Government incentives and policies promoting renewable energy infrastructure further enhance adoption, making electricity generation a dominant application within the renewable energy sector.

The heating application is growing at the highest CAGR in the renewable energy source market due to the increasing demand for sustainable heating solutions. Technologies like solar thermal systems, biomass, and heat pumps are gaining traction as industries and households seek to reduce carbon footprints and energy costs. Government policies promoting energy efficiency and renewable heating solutions, alongside rising energy prices, are driving this growth. Additionally, heightened awareness of environmental sustainability encourages the adoption of cleaner heating technologies across various sectors.

The above Graph is for representation purposes only. This chart does not depict actual Market share.

Renewable Energy Sources End User Segment Analysis

Renewable Energy Source Market End User Segment Analysis

According to Cognitive Market Research, the Residential segment dominates the market. The residential end user captured the largest market share in the renewable energy source market due to the growing trend of homeowners seeking energy independence and sustainability. Increasing awareness of climate change and rising utility costs have prompted consumers to invest in renewable technologies like solar panels and home energy storage systems. Government incentives and tax credits further encourage adoption, making renewable energy more accessible for residential applications. Additionally, the shift towards energy-efficient homes contributes to the demand for sustainable energy solutions in the residential sector.

The commercial end user is growing at the highest CAGR in the renewable energy source market due to increasing corporate sustainability initiatives and regulatory pressures to reduce carbon emissions. Businesses are investing in renewable energy solutions, such as solar and wind, to cut energy costs and enhance their green credentials. Moreover, financial incentives, such as tax credits and rebates, are making renewable installations more economically viable. The shift towards energy independence and resilience in the face of rising energy prices further fuels this growth in the commercial sector.

• Residential
• Commercial
• Industrial
• Utility Scale

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Vinayak Bali

Senior Research Analyst at Cognitive Market Research

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