According to Cognitive Market Research, the global Renewable Energy Source market size will be USD 915245.5 million in 2024. It will expand at a compound annual growth rate (CAGR) of 17.20% from 2024 to 2031.
North America held the major market share for 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.
Europe accounted for a market share of over 30% of the global revenue with a market size of USD 274573.65 million.
Asia Pacific held a 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.
Latin America had a market share of more than 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.
Middle East and Africa had a market share of around 2% of the global revenue and was estimated at 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 Solar Energy category is the fastest growing segment of the Renewable Energy Source industry
