Bioenergy Global Market Report 2023 – By Type (Biomass and Renewable Municipal Waste, Biogas, Liquid Biofuels), By Technology (Gasification, Fast Pyrolysis, Fermentation, Other Technologies), By Application (Power Generation, Heat Generation, Transportation, Other Applications) – Market Size, Trends, And Global Forecast 2023-2032

Renewable energy refers to energy produced from natural energy sources, such as the sun and wind that are constantly replenished. Renewable energy is used for space and water heating and cooling, electricity generation, and transportation. Renewable energy causes less global warming, improved public health, inexhaustible energy, stable energy prices, reliability, and resilience. The main type of renewable energy is solar energy, wind energy, bioenergy, hydro energy, and geothermal energy. The solar energy type of renewable energy is an energy form that uses solar energy for powering a home, building, water heating, and solar lights, that comes in various capacities such as 0-1,000kwh, 1,100-5,000kwh, more than 5,000kwh, used by residential, commercial, industrial and utility. The global renewable energy market is segmented – 1) By Type: Solar Energy, Wind Energy, Bio Energy, Hydro Energy, Geothermal Energy 2) By Capacity: 0-1,000KWH, 1,100-5,000KWH, More than 5,000KWH 3) By End User: Residential, Commercial, Industrial, Utility The global renewable energy market size will grow from $952.85 billion in 2022 to $1035.69 billion in 2023 at a compound annual growth rate (CAGR) of 8.7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of global renewable energy is expected to grow to $1404.48 billion in 2027 at a CAGR of 7.9%. An increase in power consumption is expected to propel the growth of renewable energy. Global energy demand is rising due to increased industrial activity and technological advancements in developing and developed countries. Additionally, there is a rapid increase in energy consumption because of the growing world population, which implies growing energy requirements. Due to such an increase in the use of power, there is a need to produce renewable energy because of its improved energy security and reduced risk of fuel spills that emits no greenhouse gases from fossil fuels and decreases certain types of air pollution. For instance, According to Enerdata, the world energy, and climate statistics, the 2022 report states that global electricity consumption increased by +5.5% in 2021, after contracting by 0.7% in 2020 owing to the COVID-19 crisis. Furthermore, according to International Energy Agency, an intergovernmental organization, worldwide electricity demand will increase by about 5% in 2021 and 4% in 2022. Therefore, an increase in power consumption will drive the renewable energy market. Major players in the renewable energy market are ABB Ltd., Acciona Energia SA, EDF SA, Enel Group, General Electric Energy, Geronimo Energy, Innergex, Tata Power Company Limited, Xcel Energy Inc., Invenergy, Siemens Gamesa, First Solar Inc., Vestas Wind Systems AS, Duke Energy Corporation, National Grid Renewables, Iberdrola SA, Jinko Solar Holding Co Ltd., Canadian Solar Inc., and Orsted A/S. Technological advancement is a key trend gaining popularity in the renewable energy market. Renewable technologies are recognized as green energy sources. The effective utilization of these resources minimizes environmental consequences, produces minimal secondary waste, and is sustainable in light of present and projected economic and societal needs. Recently, the market has witnessed the use of bio-mass energy and dual-module solar systems that can significantly reduce greenhouse gas emissions. Major companies in the renewable energy market are advancing in their new technologies and research and development to sustain their market position. For instance, In March 2022, Gautam Solar, an India-based Solar panels manufacturer, launched a G-2X dual-generation monocrystalline technology solar modules. This Gautam Solar module provides power from both the front and back of the module, making it ideal for use in rooftop and ground-mounted solar power plants, creating an additional 10%- 30% extra power generation. The solar module's combined front and back efficiency go up to 25.72%. This G-2X mono series will save BOS and installation costs while increasing electricity generation by up to 30% in the same available space. In February 2022, Chevron Corporation, a US-based energy industry company, acquired Renewable Energy Group, Inc., for $3.15 billion. This acquisition enhances REG's rising renewable fuel production and superior feedstock capabilities combined with Chevron's significant production, distribution, and commercial marketing. Renewable Energy Group, Inc., is a US-based biodiesel production company. Asia-Pacific was the largest region in the renewable energy market in 2022. North America is expected to be the fastest-growing region in the renewable energy market share during the forecast period. The regions covered in the renewable energy market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the renewable energy market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA. The renewable energy market includes revenues earned by entities by nuclear energy, biomass and bioenergy, and applied energy. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The renewable energy market research report is one of a series of new reports from The Business Research Company that provides renewable energy market statistics, including the renewable energy industry global market size, regional shares, competitors with a renewable energy market share, detailed renewable energy market segments, market trends and opportunities, and any further data you may need to thrive in the renewable energy industry. This renewable energy market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

Biofuel refers to a cleaner-burning alternative to petroleum-based diesel fuel made from renewable sources such as new and old vegetable oils and animal fats. It is a harmless and biodegradable substance created by mixing alcohol with vegetable oil, animal fat, or recycled cooking grease. The primary purpose of biofuels is to help reduce the carbon footprint of transportation and other industries. The main form of biofuels are solid biofuel, liquid biofuel, and gaseous biofuel. The solid biofuel of biofuel is a solid form of biofuel used as fuel for the generation of heat or electricity. The biofuel product is biodiesel, ethanol, biogas, and other products that are derived from feedstocks such as coarse grain, non-agri feedstock, biomass, vegetable oil, sugar crop, jatropha and other feedstocks. The global biofuels market is segmented – 1) By Form: Solid Biofuel, Liquid Biofuel, Gaseous Biofuel 2) By Product Type: Biodiesel, Ethanol, Biogas, Others Products 3) By Feedstock: Coarse Grain, Non-agri Feedstock, Biomass, Vegetable Oil, Sugar Crop, Jatropha, Other Feedstocks The global biofuels market size will grow from $151.44 billion in 2022 to $168.13 billion in 2023 at a compound annual growth rate (CAGR) of 11.0%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The size of biofuels market is expected to grow to $220.87 billion in 2027 at a CAGR of 7.1%. Increased petroleum prices are expected to propel the growth of the biofuel market. Rising crude oil costs and increased taxation have consistently contributed to increased petrol and diesel prices across the world. Furthermore, the Russia-Ukraine war is one of the primary reasons for the rapid spike in global petroleum prices. Several other reasons have also led to rising crude oil prices, including market tightness and uncertainty about demand and supply, geopolitical developments, fears of future supply disruptions, and speculation that impacted the petroleum market. Due to such a rise in petroleum prices, there is a greater demand for biofuel as an alternative which is derived from renewable resources and are less combustible than fossil diesel. It helps to reduce the carbon footprint of transportation and other businesses. For Instance, according to a 2021 report published by Our world in data on crude oil prices, the global crude oil prices per barrel US dollars have increased from $41.84 in 2020 to $70.91 in 2021. Therefore, the increasing petroleum prices will drive the biofuel market. Major players in the biofuels market are Archer Daniels Midland Company, Abengoa S. A., Renewable Energy Corp, Wilmar International, Poet Llc, Bunge Limited, Valero Energy Corporation, Petrobras, Butamax Advanced Biofuels LLC, Algenol, Pacific Ethanol Inc., Cargill, DowDuPont Inc., Verbio AG, My Eco Energy, China Clean Energy Inc., BTG International Ltd., Flint Hills Resources and The Andersons Inc. Technological advancements are a key trend gaining popularity in the biofuel market. Advanced biofuels are gaining popularity due to their compatibility with existing fuel infrastructure and high energy densities. Advanced biofuel technologies are recognized as green energy sources. The effective utilization of these resources minimizes environmental consequences, produces minimal secondary waste, and is sustainable in light of present and projected economic and societal needs. Recently, the market has witnessed the use of advanced bio-hydrocarbons generated from lignocellulosic biomass such as trees, grasses, trash, and agricultural residues. Major companies operating in the biofuel market are focused on developing new technological solutions to strengthen their market position. For instance, In February, Clariant, a Europe-based chemical company, introduced a line of Vita surfactants and polyethylene glycols (PEGs) made entirely of bio-based, renewable carbon derived from plants. The new Vita products are designed for natural formulations with a high Renewable Carbon Index (RCI) and assist manufacturers in maximizing the use of bio-based carbon content in consumer products, that include detergents, hair and shower gel, paints, industrial lubricants, and crop treatments. In January 2022, ExxonMobil, a US-based natural gas company, acquired a 49.9% stake in Biojet AS. This acquisition allows ExxonMobil to purchase up to 3 million barrels of the products yearly, based on capacity. Furthermore, this collaboration with Biojet AS strengthens ExxonMobil's efforts to provide low-emissions transportation products. Biojet AS is a Norwegian-based biofuels company that intends to turn forestry and wood-based construction waste into low-emission biofuels. North America was the largest region in the biofuel market in 2022. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the biofuel market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the biofuel market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA. The biofuel market consists of sales of methanol, butanol and biogas. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The biofuels market research report is one of a series of new reports from The Business Research Company that provides biofuels market statistics, including biofuels industry global market size, regional shares, competitors with a biofuels market share, detailed biofuels market segments, market trends and opportunities, and any further data you may need to thrive in the biofuels industry. This biofuels market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

Biogas refers to a form of biofuel that is created spontaneously when organic waste decomposes. Biogas generation is also known as anaerobic digestion since it occurs in the absence of oxygen. Biogas helps mitigate methane emissions while producing cleaner fuel for cooking, lighting, and electricity. The main sources of biogas are municipal waste, industrial waste, agricultural waste, and others. Anaerobic Digestion (AD) of the organic portion of municipal solid waste (OFMSW) creates biogas that can be used to generate energy, hence reducing waste that would otherwise be landfilled. Biogas is used for residential, commercial, and industrial purposes. It is implemented in various areas such as power generation, heat generation, cogeneration, and others. The global biogas market is segmented – 1) By Source: Municipal Waste, Industrial Waste, Agricultural Waste, Other Sources 2) By Application: Residential, Commercial, Industrial 3) By End User: Power Generation, Heat Generation, Cogeneration, Other End Users The global biogas market size will grow from $71.59 billion in 2022 to $78.25 billion in 2023 at a compound annual growth rate (CAGR) of 9.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of global biogas is expected to grow to $102.7 billion in 2027 at a CAGR of 7.0%. The rising shift towards renewable sources of energy is expected to propel the growth of the biogas market in the coming years. Renewable energy, often known as clean energy, is derived from natural sources or procedures that are renewed regularly. Biogas is also referred to as renewable natural gas produced by the breakdown of organic matter such as animal waste and food scraps. According to International Energy Agency (IEA) global energy review 2020, renewable energy is expected to be the fastest-growing energy source in the future. In comparison to Q1 2019, global renewable energy usage in all industries rose by around 1.5% in Q1 2020 and estimated a 1% increase in the use of renewables by the end of 2020. Therefore, the shift toward renewable sources of energy drives the growth of the biogas market. Major players in the biogas market are PlanET Biogas Global GmbH, Scandinavian Biogas, EnviTec Biogas AG, IES BIOGAS Srl, Air Liquide, Weltec Biopower GmbH, Biofrigas Sweden AB, Ameresco Inc., Wartsila, Engie SA, Bio-En Power Inc., Swedish Biogas International, CH4 Biogas, SP Renewable Energy Sources Pvt. Ltd., Beijing Sanyi Green Energy Development Co. Ltd., Biofuel USA Corporation, Quadrogen, Viessmann, BTS-biogas, Agraferm, Gasum, Xergi A/S, Zorg Biogas, Future Biogas Limited, and AAT Biogas Technology. The expansion of production facilities is a key trend gaining popularity in the biogas market. Major companies operating in the biogas sector are focusing on expanding their production facilities to meet the increasing demand for renewable energy and are replacing chemical fertilizers with recycled nutrients in the production of biogas. For instance, in April 2020, Ductor, a Finnish-Swiss biotech company, is constructing three combined biofertilizer-biogas facilities in northern Poland. The facilities will generate renewable electricity and organic nitrogen fertilizer entirely from poultry waste, lowering greenhouse gas (GHG) pollution dramatically. Two of the proposed facilities will have a 0.5MW installed capacity, while the third will have a 1MW capacity. In January 2021, Total SE, a French oil and gas company that manufactures and sells gasoline, natural gas, and electricity acquired Fonroche Biogaz for an undisclosed amount. With this acquisition, Total SE becomes a major player in renewable gas in France and Europe and significantly strengthens its presence in the sector. Fonroche Biogaz is a company within Groupe Fonroche that designs, builds, and operates anaerobic digestion (AD) plants in France. Europe was the largest region in the biogas market in 2022. Asia-Pacific is expected to record the fastest growth over the biogas market share during the forecast period. The regions covered in the biogas market analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the biogas market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA. The biogas market consists of sales of fixed dome biogas, and floating drum biogas. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The biogas market research report is one of a series of new reports from The Business Research Company that provides biogas market statistics, including biogas industry global market size, regional shares, competitors with a biogas market share, detailed biogas market segments, market trends and opportunities, and any further data you may need to thrive in the biogas industry. This biogas market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

Solar energy refers to the generation of renewable energy from sunlight and conversion into electricity, either directly using photovoltaics, indirectly using concentrated solar power, or a combination of both. Photovoltaics (PV) are used to collect solar energy and convert it to usable energy in the form of electricity. The main types in the solar energy market are solar cell panels, solar cell paste, and solar silicon wafers. Solar cells are panels used to convert sunlight into electricity. Solar cell panels can be used to generate electricity to be used in residential or commercial sectors. The technology used in solar energy is photovoltaic systems and concentrated solar power systems and the types of panels are mono-crystalline thin film, and poly-crystalline. Solar energy is applied in residential and commercial and end-user are electricity generation, lighting, heating, and charging. The global solar energy market is segmented – 1) By Type: Solar Cell Panel, Solar Cell Paste, Solar Silicon Wafer 2) By Technology: Photovoltaic Systems, Concentrated Solar Power Systems 3) By Panel: Mono-Crystalline, Thin Film, Poly-Crystalline 4) By Application: Residential, Commercial 5) By End Use: Electricity Generation, Lighting, Heating, Charging The global solar energy market size will grow from $101.87 billion in 2022 to $126.82 billion in 2023 at a compound annual growth rate (CAGR) of 24.5%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of global solar energy is expected to grow to $354.99 billion in 2027 at a CAGR of 29.3%. The increasing government initiatives to support renewable energy sources are expected to propel the growth of the solar energy market. Government initiatives include subsidies and relaxed laws for the implementation and use of solar energy. These initiatives have led to the installation of various solar projects all across the world for the production of renewable energy that is affordable to consumers. As government initiatives increase globally, there will be a significant rise in the adoption of solar energy across the world. For instance, according to the Union budget 2022-2023, India will allocate INR 4,500 crores ($0.58 billion) for the development of high-efficiency modules for solar photovoltaic cells under the PLI (Production-Linked Incentive) scheme. In addition, in 2020, Romania's Ministry of Environment allocated over USD 63.7 million for the Casa Verde Fotovoltaice (green PV home) scheme to support residential solar installations under its net metering regime. Therefore, increasing government initiatives to support renewable energy sources are expected to drive the growth of the solar energy market. Major players in the solar energy market are Kaneka Corp, Acciona Energia SA, Abengoa Solar SA, Bright Source Energy Inc., Tata Power Solar, Wuxi Suntech Power Co Ltd., Sunpower Corporation, Canadian Solar Inc., Esolar Inc., Gintech Energy Corp, Trina Solar Ltd., Solar Systems LLC, United Renewable Energy Co Ltd., LONGi Green Energy Technology Co Ltd., JinkoSolar Holdings Co Ltd., Borrego Solar Systems Inc., Areva, Indosolar, Euro multivision, Bharat Heavy Electricals, Central Electronics Limited, First Solar and Yingli Solar. The development of bifacial solar cells for increased output is a key trend gaining popularity in the solar energy market. Major companies and research and development centers operating in the solar energy sector are focused on developing bifacial solar cells to meet market demand for maximum output. Bifacial solar cells absorb light from both the front and back sides of their surfaces, catching albedo light that will otherwise be wasted. Therefore, companies and research and development centers are focused on developing bifacial solar cells to maximize the output of solar energy. For instance, in August 2021, researchers from Australian National University, a public research university located in Canberra developed a new bifacial solar cell with a 96.3% bifacial factor. It is a dual-sided silicon solar cell with a front-conversion efficiency of 24.3% and a back-conversion efficiency of 23.4%, resulting in a bifacial factor of 96.3%. According to the researchers, the performance indicates an effective power output of around 29%. The bifacial solar cell will outperform the single-sided silicon solar cells and offer efficiency for solar PV projects. In March 2022, Sonnedix Power Holdings Limited, a UK-based global company specializing in the power production of solar energy acquired Sun Power Energy for an undisclosed amount. This acquisition helps Sonnedix to increase its workforce, gain a 1GW development pipeline throughout Poland, and expand its product reach to Europe. Sun Power Energy is a Poland-based company that develops solar photovoltaic modules. Asia-Pacific was the largest region in the solar energy market in 2022. The regions covered in the solar energy market analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the solar energy market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA. The solar energy market includes revenues earned by entities by providing services such as stand-alone power systems (SAPS), grid-feed solar systems, and grid-connected solar systems with battery storage. The solar energy market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The solar energy market research report is one of a series of new reports from The Business Research Company that provides solar energy market statistics, including solar energy industry global market size, regional shares, competitors with a solar energy market share, detailed solar energy market segments, market trends and opportunities, and any further data you may need to thrive in the solar energy industry. This solar energy market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

Residential solar energy storage refers to solar energy systems that are available in multiple shapes and sizes and are used across residential areas. It is used for converting sunlight into electrical energy, which can generate electricity or be stored in batteries or thermal storage used in home settings. The residential solar energy storage market consists of the sale of residential solar energy storage products by entities (organizations, sole traders, and partnerships) that are used for converting sunlight into electrical energy, which can generate electricity or be stored in batteries or thermal storage used in home settings. Residential solar energy storage refers to solar energy systems that are available in multiple shapes and sizes and are used across residential areas. The main types of residential solar energy storage are standalone systems and solar plus storage. A standalone system refers to any application or software that does not need to be bundled with other software or applications, nor does it require anything else to function. The power ratings are 3-6 kW and 6-10 kW. The technologies involved are lead-acid and lithium-ion. The connectivity is on-grid and off-grid. The ownership is a customer, utility, and third-party. The global residential solar energy storage market is segmented - 1) By Operation: Standalone Systems, Solar and Storage 2) By Power Rating: 3–6 kW, 6–10 kW 3) By Technology: Lead Acid, Lithium-Ion 4) By Connectivity: On-Grid, Off-Grid 5) By Ownership: Customer, Utility, Third-Party The global residential solar energy storage market size grew from $6.15 billion in 2022 to $7.5 billion in 2023 at a compound annual growth rate (CAGR) of 22.0%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services, and affecting many markets across the globe. The market size of the global residential solar energy storage is expected to grow to $16.04 billion in 2027 at a CAGR of 20.9%. Increasing demand for sustainable electricity generation is expected to propel the residential solar energy storage market going forward. Sustainable electricity refers to energy that is clean and renewable energy sources that can renew themselves and is inexhaustible in nature. The increasing demand for sustainable electricity generation will compel the residential solar energy storage market to come up with products to serve their customers in a better way. For instance, in 2020, according to the global energy review by the International Energy Agency, a Paris-based intergovernmental organisation, renewable energy use increased by 3%. Furthermore, in 2020, according to the Center for Climate and Energy Solutions, a US environmental non-profit organisation, renewable energy was the fastest-growing energy source in the United States with an increase of 42%. Therefore, the increasing demand for sustainable electricity generation is driving the growth of the residential solar energy storage market. Samsung SDI Co. Ltd., Tesla Inc., LG Chem Ltd., ABB, General Electric Company, Panasonic Holdings Corporation, AEG Power Solutions, eSolar Inc., Abengoa SA, Alpha Technologies, Acciona S.A., SunPower Corporation, NRG Energy Inc., Boston Power Inc., and EnerSys Corporation are major players in the residential solar energy storage market report. Advanced technologies are a key trend gaining popularity in the residential solar energy storage market. Major companies operating in the residential solar energy storage market are focused on developing new technological solutions to strengthen their position. For instance, in January 2022, Sungrow, a Chinese solar inverter and energy storage company that serves commercial, residential, and utility customers, launched their new 1+X modular inverter. This new inverter is the most innovative central inverter solution that uses cutting-edge technologies focused on three-level modularization. This three-level modularization makes the inverter more flexible and convenient to use. This new technology has been showcased by Sungrow for residential, commercial, industrial, and utility solar applications. In October 2020, Sunrun, a US-based company that provides residential solar panels and home batteries, acquired Vivint Solar for an undisclosed amount. This acquisition provides Sunrun with global solar assets of more than three gigawatts of solar energy and more than 500,000 new customers across the globe. Sunrun believes that with Vivint Solar they will be able to provide affordable, reliable, and clean electricity to millions of homeowners. Vivint Solar is a US-based residential solar energy company that designs, installs, and maintains photovoltaic systems. Asia-Pacific was the largest region in the residential solar energy storage market in 2022. The regions covered in this residential solar energy storage market analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the residential solar energy storage market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The residential solar energy storage market consists of sales of hybrid residential solar energy storage systems, AC-coupled residential solar energy storage systems, and off-grid residential solar energy storage systems . Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The residential solar energy storage market research report is one of a series of new reports from The Business Research Company that provides residential solar energy storage market statistics, including residential solar energy storage industry global market size, regional shares, competitors with a residential solar energy storage market share, detailed residential solar energy storage market segments, market trends and opportunities, and any further data you may need to thrive in the residential solar energy storage industry. This residential solar energy storage market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The advanced energy storage systems refer to advanced devices that convert electrical energy from power systems and store it to supply electrical energy when needed later. The advanced energy storage systems enable to use and manage the electrical energy efficiently. The energy can be used to produce semiconductors, data storage devices, solar cells, and electricity. The main technology of advanced energy storage systems are pumped hydro storage, electrochemical storage, electromechanical storage, and thermal storage. Electrochemical energy storage encompasses all secondary batteries. Batteries use an electrochemical oxidation-reduction reverse reaction to convert the chemical energy contained in their active materials into electric energy. Batteries are currently manufactured in a variety of sizes for a wide range of applications. Advanced energy storage systems are applied in transportation, grid storage, and other applications. These are used by residential and non-residential. The global advanced energy storage systems market is segmented – 1) By Technology: Pumped Hydro Storage, Electrochemical Storage, Electromechanical Storage, Thermal Storage 2) By Application: Transportation, Grid Storage, Other Applications 3) By End-User: Residential, Non-Residential The global advanced energy storage systems market size grew from $16.56 billion in 2022 to $17.89 billion in 2023 at a compound annual growth rate (CAGR) of 8.0%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services, and affecting many markets across the globe. The market size of advanced energy storage systems is expected to grow to $24.31 billion in 2027 at a CAGR of 8.0%. The increasing investments in renewable energy are expected to propel the growth of the advanced energy storage systems market. Renewable energy, also known as clean energy is in high demand as it is a non-polluting source of energy and is replenished by nature. The governments and private sectors globally are significantly investing in renewable energy as it is beneficial for minimizing pollution while conserving natural resources. This rise of investments in renewable energy will create a significant demand for advanced energy storage systems as these are essential to store and manage the energy generated as well as supply for use when needs arise. For instance, according to the estimates by the autonomous intergovernmental organization the International Energy Agency (IEA), the global power sector investment was expected to rise by 5% to more than $820 billion in 2021 over 2020. Renewables dominated new power generation investment, accounting for 70% of the $530 billion spent on all new power generation capacity in 2021. The remaining amount was invested in grids and storage. A dollar spent on wind and solar photovoltaic (PV) deployment currently generates four times the electricity of a dollar spent on the same technologies a decade ago, owing to rapid technological advancements and cost reductions. Therefore, the increasing investments in renewable energy will drive the growth of the advanced energy storage systems market. Major players in the advanced energy storage systems market are ABB, LG Chem, Samsung SDI, General Electric Company, Tesla, Toshiba, Panasonic, Siemens, Saft Groupe, EOS Energy Storage, AES Corporation, EDF Renewables, Schneider and Maxwell Technologies. Technology advancement is a key trend gaining popularity in the advanced energy storage systems market. Key players in the market are focusing on implementing technological advancements such as software integration in advanced energy storage systems. These advanced energy storage systems enable advanced features such as improved controls, monitoring, and forecasting abilities, resulting in efficient use of energy. Companies offering these systems can gain a competitive edge in the market. For instance, in June 2021, Honeywell, a US-based global advanced-technology company introduced its battery energy storage system (BESS) platform technology with integrated controls, monitoring, and forecasting capabilities. The new BESS Platform will target large commercial and industrial (C&Is) users, independent power producers (IPPs), and utilities. It provides customers with asset monitoring, distributed energy resource management, supervisory control, and analytics capabilities to forecast and optimize energy use, made possible with software integration. In May 2022, Bhago Mobility Solutions Private Limited, an Indian green energy company of Modern Automotive Limited, an Indian Next-Gen Technology Startup acquired a stake in Pastiche Energy Solutions (P) Ltd for an undisclosed amount. This stake acquisition will leverage the expertise of both the companies to make a footprint in advanced energy storage and green mobility by producing solid-state batteries, lithium batteries, and allied products for applications such as energy storage, electric mobility, defense, and others. Pastiche Energy Solutions (P) Ltd is an Indian manufacturer of batteries for advanced energy storage. Asia-Pacific was the largest region in the advanced energy storage system market in 2022. The regions covered in advanced energy storage systems market analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the advanced energy storage systems market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA. The advanced energy storage system market consists of sales of mechanical storage systems, hydrogen energy storage systems, advanced chemistry batteries, flow batteries, and capacitors. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The advanced energy storage systems market research report is one of a series of new reports from The Business Research Company that provides advanced energy storage systems market statistics, including advanced energy storage systems industry global market size, regional shares, competitors with a advanced energy storage systems market share, detailed advanced energy storage systems market segments, advanced energy storage systems market trends and opportunities, and any further data you may need to thrive in the advanced energy storage systems industry. This advanced energy storage systems market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the advanced energy storage systems industry.

The energy as a service market consists of sales of energy as a service solutions and services by entities (organizations, sole traders, and partnerships) that are used for the management of energy usage to deliver the desired energy service. Energy-as-a-service (EaaS) is a business concept in which clients pay for energy services without having to spend any money upfront. EaaS models often take the form of a subscription for a service company's electrical devices or energy usage management to supply the desired energy service. The main types of energy as a service are solutions and services. Energy supply services are used to deliver energy such as fuels, electricity, and thermal energy that suppliers can deliver to end consumers. It includes service such as supply, demand, and energy optimization, that include different end users such as commercials and industries. The global energy as a service market is segmented - 1) By Component: Solutions, Services 2) By End-User: Commercial, Industrial The global energy as a service market size grew from $57.32 billion in 2022 to $64.28 billion in 2023 at a compound annual growth rate (CAGR) of 12.1%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services, and affecting many markets across the globe. The market size of the global energy as a service is expected to grow to $100.17 billion in 2027 at a CAGR of 11.7%. The increase in renewable energy generation is expected to propel the growth of the energy as a service market going forward. Renewable energy is energy generated from naturally renewing but flow-limited sources that are essentially infinite in length but limited in energy accessible per unit of time. The usage of renewable energy is increasing, and this will increase the energy as a service market. For instance, according to the International Energy Agency, a France-based intergovernmental organization, the share of renewables in global electricity generation jumped to 29% in 2020, up from 27% in 2019. Also, renewable electricity generation in 2021 increased by more than 8% to reach 8,300 TWh. Therefore, the rising demand for an increase in renewable energy generation drives the energy as a service market. Major players in the energy as a service market are Schneider Electric SE, Engie SA, Siemens AG, Honeywell International Inc., Veolia Environnement S.A, Enel X, EDF Renewable Energy, Johnson Controls International, Bernhard Energy, Edison Energy, SmartWatt, Entegrity , Enertika, Ameresco, Centrica, Ameresco, Duke Energy Corporation , Solarus, Spark Community Investment Co, and Contemporary Energy Solutions. Partnerships and agreements among companies are key trends gaining popularity in the energy as a service market. The companies operating in the energy as a service market are undergoing partnerships and agreements to meet consumer demand. For instance, in August 2021, the Engie group signed an agreement with Google LLC, a US-based multinational technology company, to provide carbon-free electricity in Germany. The agreement will help Google meet its carbon-free energy goals for its data centers, cloud regions, and offices throughout the world by 2030. Engie will assemble and negotiate an energy portfolio to supply Google with renewable energy (solar and wind) to ensure that all of its German activities are approximately 80 percent carbon-free by 2022. Engie SA is a France-based utility company that operates in the fields of the energy transition, electricity generation, distribution, natural gas, nuclear, renewable energy, and petroleum. Also, in August 2020, Schneider Electric partnered with Huck Capital to deliver energy-as-a-service, enabling commercial buildings to easily convert to renewable energy. The partnership provides a unique approach for building owners and operators that wish to migrate to renewable energy to reduce emissions, boost resiliency, and lower costs without investing in renewable energy assets or relying on specialists to operate the microgrid. Schneider Electric is a France-based company that provides energy and automation digital solutions. In July 2021, OY Nofar Energy, an Israel-based energy company, acquired Blue Sky Utility for a deal amount of $91 million. Through this acquisition, Nofar would represent its entry into the US market, and the company's goal is to expand its operations into new markets. Blue Sky Utility is a US-based company that specializes in developing renewable energy solutions for retail real estate landlords and tenants. North America was the largest region in the energy as a service market in 2022. Middle East and Africa are expected to be the fastest-growing regions in the energy as a service market during the forecast period. The regions covered in the global energy as a service market analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the energy as a service market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The energy as a service service market includes revenues earned by entities by providing cloud-based energy services and solutions to monitor and manage energy requirements based on real-data collections and also procuring, storing, and producing energy solutions. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The energy as a service market research report is one of a series of new reports from The Business Research Company that provides energy as a service market statistics, including energy as a service industry global market size, regional shares, competitors with an energy as a service market share, detailed energy as a service market segments, market trends and opportunities, and any further data you may need to thrive in the energy as a service industry. This energy as a service market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future state of the industry.

Green hydrogen gas is created by dividing water into hydrogen and oxygen using an electrolyzer that can be powered by renewable energy sources. Green hydrogen is environmentally friendly and can be stored and converted back to energy or heat when required. The main types of technologies in green hydrogen are alkaline electrolyzer, proton exchange membrane electrolyzer, and solid oxide electrolyzer. Alkaline electrolyzers work by transporting hydroxide ions from the cathode to the anode through the electrolyte, with hydrogen created on the cathode side. It is used in power generation, transport, and others are implemented in various verticals such as petrochemicals, food and beverages, medical, chemical, glass, and others. The global green hydrogen market is segmented – 1) By Technology: Alkaline Electrolyzer, Proton Exchange Membrane Electrolyzer, Solid Oxide Electrolyzer 2) By Application: Power Generation, Transport, Other Applications 3) By End-Use Industry: Petrochemicals, Food And Beverages, Medical, Chemical, Glass, Other End-Use Industries The global green hydrogen market size will grow from $1.06 billion in 2022 to $1.48 billion in 2023 at a compound annual growth rate (CAGR) of 38.8%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of global green hydrogen is expected to grow to $5.48 billion in 2027 at a CAGR of 38.7%. The increasing environmental concerns are expected to propel the growth of the green hydrogen market in the forecast period. Green hydrogen is a hydrogen-based fuel that is made by electrolyzing water with electricity supplied by low-carbon sources. It will help in reducing carbon emissions and provide care to our planet. For instance, International Energy Agency (IEA) aims to bring global energy-related carbon dioxide emissions to net zero by 2050. Fossil fuels are one of the main contributors to poor air quality and they account for 80% of all the energy worldwide. Additionally, IEA estimates that by 2050 around 1.77 million premature deaths will occur due to indoor air pollution, and around 4.97 million premature deaths will occur due to outdoor air pollution. According to World Health Organization, an estimated 4.2 to 7 million people die from air pollution worldwide every year, and nine out of ten people breathe air that contains high levels of pollutants. Therefore, increasing environmental concerns drive the growth of the green hydrogen market. Major players in the green hydrogen market are Air Liquide, Air Products and Chemicals Inc., Ballard Power Systems, Engie, Fuel Cells Works, Green Hydrogen Systems, Hydrogenics, Linde PLC., Nel Hydrogen, Nikola Motors, Plug Power Inc., Siemens Energy Global GmbH & Co. KG, Solena Group, Toshiba Energy Systems & Solutions Corporation, Enapter, ERGOSUP, Loop Energy Inc., and Tianjin Mainland Hydrogen Equipment Co. Ltd. Scaling up of technologies is an emerging trend in the green hydrogen market. Advanced analytics is used in the green hydrogen market, it can transform data into business intelligence with actionable insights. Analytics can provide corrective action recommendations to maximize yields for green hydrogen, churning, and learning through data from plants, tanks, and pipes. By forecasting the failures, energy losses can also be prevented. Kaiserwetter is one such company that is using analytics to address several green hydrogen challenges. Analytics can also be useful in providing blockchain solutions that can help in green hydrogen tracking. For instance, in February 2021, Acciona, a Spanish firm that develops and manages infrastructure and renewable energy, developed GreenH2chain, a blockchain-based platform that allows clients from all over the world to verify and visualize the complete green hydrogen value chain in real time. In July 2021, PowerTap Hydrogen Capital Corp., Canada-based hydrogen production and dispensing fuelling company acquired a 49% stake in AES-100 Inc., for an undisclosed amount. The acquisition is expected to assure the rapid global deployment of PowerTap’s hydrogen refueling stations. AES-100 Inc., is a Canada-based green hydrogen technology company that is focused on fuel cells for the transportation Industry. Europe was the largest region in the green hydrogen market in 2022. The regions covered in the green hydrogen market analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the green hydrogen market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA. The green hydrogen market consists of sales of various electrolyzers such as atmospheric alkaline electrolyzers and pressurized alkaline electrolyzers. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The green hydrogen market research report is one of a series of new reports from The Business Research Company that provides green hydrogen market statistics, including green hydrogen industry global market size, regional shares, competitors with a green hydrogen market share, detailed green hydrogen market segments, market trends and opportunities, and any further data you may need to thrive in the green hydrogen industry. This green hydrogen market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.