Inside the Renewable Energy Market: Capacity, Demand, Key Drivers and CAGR value of 8.94% | Says Mordor Intelligence
According to a 2025 report on the Renewable Energy Market by Mordor Intelligence, the global market size is projected to increase from 5.08 thousand gigawatts in 2025 to 7.04 thousand gigawatts by 2030, registering a CAGR of 8.94% over the forecast period (2025–2030). Market Overview According to recent market studies, the renewable energy sector is witnessing sustained investment inflows, technological improvements, and expanding project pipelines globally. The market is driven by a mix of policy incentives, environmental regulations, cost reductions in equipment, and the increasing viability of utility-scale and decentralized power generation. Key Trends Shaping the Renewable Energy Market Declining Technology Costs: Solar PV module and wind turbine prices have significantly dropped, improving cost competitiveness with fossil fuels. Grid Modernization and Storage: As renewable penetration rises, investments in smart grids and battery storage are enabling greater system stability an...