Renewable energy market seen topping $1.85 trillion by 2030

The Business Research Company says the global renewable energy market is on track to exceed $1.85 trillion by 2030, driven by policy support, technology gains and rising power demand. Solar leads the market, while Asia-Pacific and China are set to be the biggest growth engines.

Why it matters: - The renewable energy market is moving toward a much larger role in global power generation. - The sector is expected to surpass $1,851 billion by 2030, making it a major investment and infrastructure story. - Renewable energy is projected to account for about 66% of the broader power generation market by 2030. - The market is also expected to represent nearly 20% of the utilities industry’s projected $9,379 billion value in 2030.

What happened: - The Business Research Company published its Renewable Energy Global Market Report 2026 with forecasts through 2035. - The report forecasts a 9% compound annual growth rate through 2030 for the renewable energy market. - Government initiatives, net-zero targets, technology improvements and rising electricity demand are the main growth drivers identified in the report.

The details: - Government support, clean-energy regulations and incentives are expected to add about 2.9% annual growth to the market. - Improvements in solar panels, wind turbines, battery storage and power management systems are projected to add about 2.5% annual growth. - Higher electricity demand from industrialization, urbanization and electrification, along with corporate sustainability efforts, is projected to contribute about 2.1% annual growth. - Solar energy is the largest segment and is projected to reach 39% of the market, or $730 billion, by 2030. - The report links solar’s lead to lower photovoltaic costs, more residential and utility-scale installations, better panel efficiency and higher infrastructure spending. - The market is segmented by capacity into small, medium and large-scale installations, and by end user into residential, commercial, industrial, utility and other sectors. - Asia-Pacific is projected to be the largest regional market in 2030 at $907 billion, up from $545 billion in 2025. - Asia-Pacific is forecast to grow at an 11% CAGR, supported by large projects, solar and wind spending, higher power demand and policy support. - China is projected to be the largest national market in the region at $378 billion in 2030, up from $232 billion in 2025. - China’s growth is tied to capacity expansion, domestic manufacturing, utility-scale solar and wind projects, lower fossil-fuel dependence and investments in storage and transmission. - Solar, wind, hydro, bioenergy and geothermal together are expected to add more than $669 billion in market growth by 2030. - Solar is projected to add $271 billion, wind $194 billion, hydro $114 billion, bioenergy $58 billion and geothermal $32 billion between 2025 and 2030. - The market remains relatively fragmented, with the top 10 companies accounting for 14% of total revenue in 2025. - The report says entry barriers are moderate because of infrastructure costs, changing regulations, grid integration challenges and advanced generation needs. - Enel S.p.A., Iberdrola S.A. and EDF S.A. each held 3% market share in 2025, according to the report. - NextEra Energy Inc. held 2% market share in 2025. - NTPC Limited, Acciona S.A., Energias de Portugal S.A., Brookfield Corporation and Ørsted A/S each held 1% market share in 2025. - Adani Green Energy Limited held 0.1% market share in 2025. - Enel S.p.A. ranked first in global sales in 2025 with a 3% share, according to The Business Research Company. - Enel’s renewable division works across solar, wind, hydroelectric and geothermal projects. - The report also names ReNew Power Private Limited, Duke Energy Corporation, Xcel Energy Inc., The Tata Power Company Limited, Fortum Oyj and others as active competitors. - Supply-chain companies cited in the report include LONGi Green Energy Technology, Wacker Chemie, GCL Technology, Hemlock Semiconductor, Daqo New Energy, Jinko Solar, First Solar, Canadian Solar, Trina Solar, JA Solar and others. - Distribution companies cited include BayWa r.e., Sonepar Group, Rexel, CED Greentech, Krannich Solar, Greentech Renewables and others. - End users cited include Amazon, Microsoft, Google, Meta, Apple, Walmart, Toyota, Volkswagen, General Motors, BASF, Dow, Samsung, TSMC, Intel, Procter & Gamble, Unilever, Nestlé, IKEA, Equinix and Digital Realty Trust. - The report also adds new 2026 features including market attractiveness scoring, TAM analysis, company scoring matrices, Excel forecasting dashboards, hotspot infographics and updated graphics.

Between the lines: - The report points to a market still being shaped by policy and capital intensity, not just demand. - Fragmentation at the top suggests no single company controls the sector, even as scale advantages matter. - Solar’s lead and Asia-Pacific’s growth show where the next wave of capacity is likely to concentrate. - Waste-to-energy innovation is also becoming part of the renewables story, not just wind and solar. - The report highlights Clean Energy Technologies Inc.’s December 2025 biomass platform using High Temperature Ablative Pyrolysis technology. - The platform integrates with anaerobic digestion and renewable natural gas facilities to improve energy recovery and digestate handling. - The HTAP process is designed to increase syngas generation, biochar production and renewable natural gas integration.

What's next: - The market’s pace will likely depend on whether governments keep supporting clean power buildout and grid upgrades. - Continued cost declines and storage improvements could further expand solar and wind adoption. - Corporate buying and large-scale infrastructure investment are likely to remain important demand drivers through 2030. - The Business Research Company says strategic partnerships, regional expansion, smart grids, battery storage and green hydrogen investments are shaping competition ahead.

The bottom line: - Renewable energy is moving from a growth market to a dominant power-sector force, with solar and Asia-Pacific leading the next phase of expansion.