Green Energy Market Segmentation:
Type Segment Analysis
The hydro energy segment is projected to witness noteworthy growth over the forecast period. The segment growth is impelled by rapid construction of hydropower plants, and their wide application across sectors. Moreover, hydropower is the pillar of low-carbon electricity generation, supplying nearly half of it globally today. Hydropower contributes 55% more than nuclear and more than all other renewables combined, including wind, solar PV, bioenergy, and geothermal. According to the data from the IEA, the total global hydropower capacity was valued at 1308 GW in 2020.
Application Segment Analysis
The commercial segment is anticipated to garner highest revenue by the end of 2035, attributed to growing demand for energy by this sector. Further, majority of companies are investing more on renewable energy owing to various environmental concern. Energy use is intimately related to climate change. The ecology is harmed by fossil fuels, and their prices are unstable. Hence, the environment could be preserved by substituting clean energy sources for fossil fuels. Also, government has launched various policies, making use of renewable energy stringent for commercial sector.
Our in-depth analysis of the global market includes the following segments:
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