Growth of the renewable energy transition market is the global commitment to mitigating climate change and reducing carbon emissions, is expected to drive market expansion in the near future at a CAGR of 6.60% during the forecast period 2025 to 2034

Market Research Future (MRFR) has published a cooked research report on the “Global Renewable Energy Transition Market” that contains information from 2018 to 2032. The Renewable Energy Transition market is estimated to register a CAGR of 6.60% during the forecast period of 2025 to 2034.

MRFR recognizes the following companies as the key players in the global Renewable Energy Transition market— Exelon Corporation, Duke Energy Corporation, Pacific Gas and Electric Company, Southern Company, American Electric Power, Edison International, Repsol, Brookfield Renewable Partners, Plug Power Inc., Enphase, First Solar.

Renewable Energy Transition Market Highlights

The global Renewable Energy Transition market is accounted to register a CAGR of 6.60% during the forecast period and is estimated to reach USD 1.09 billion by 2034.

The renewable energy transition market is experiencing robust growth globally, driven by increasing awareness of climate change, government commitments to reduce carbon emissions, and advancements in renewable technologies. Investments in solar and wind energy projects are surging, supported by declining costs and favorable policies, while the integration of energy storage solutions and smart grid technologies further enhances the viability and efficiency of renewable energy systems.

Browse In-depth Details [Table of Content, List of Figures, List of Tables] of Renewable Energy Transition Market Research Report

Segment Analysis

The global Renewable Energy Transition market has been segmented based on type and application.

On the basis of type, the market is segmented into Wind Power, Solar Power, Bioenergy and Hydropower. The hydropower segment was attributed to holding the largest market share in 2022, due to its established infrastructure, reliability, and scalability.

Based on application, the global Renewable Energy Transition market has been segmented into Residential, Commercial and Utility Scale. The residential segment was expected to hold the largest market share in 2022, due to growing awareness of environmental sustainability in homeowners.

Regional Analysis

The global Renewable Energy Transition market, based on region, has been divided into the North America, Europe, Asia-Pacific, and Rest of the World. North America consists of US and Canada. The Europe Renewable Energy Transition market comprises of Germany, France, the UK, Italy, Spain, and the rest of Europe. The Renewable Energy Transition market in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The Rest of the World Renewable Energy Transition market comprises of Middle East, Africa, and Latin America.

The largest market share for Renewable Energy Transition was maintained by the North American regional sector. This increase is attributed to a growing commitment to reduce carbon emissions and combat climate change, with governments, businesses, and consumers increasingly favoring sustainable energy sources. Policy support, including incentives, tax credits, and ambitious renewable energy targets, further propels the transition to cleaner alternatives such as wind, solar, and hydroelectric power. Additionally, advancements in renewable energy technologies with decreasing costs and a shift in public perception toward eco-friendly practices, contribute to the expanding market.

Moreover, the Europe market has been persistently growing over the forecast period. The demand for Renewable Energy Transition is driven by ambitious sustainability goals and commitments to reduce carbon emissions, as reflected in the European Green Deal. Supportive policies, incentives, and investments in renewable energy sources, like wind and solar, contribute to the region's transition toward a low-carbon energy system.

Additionally, Asia Pacific is anticipated to experience the quickest growth over the forecast period due to commitment to mitigating climate change and reducing carbon emissions. Governments across region are increasingly implementing supportive policies, such as feed-in tariffs and renewable energy targets, encouraging the adoption of clean energy sources. Additionally, the region's vast renewable energy potential, is attracting substantial investments and fostering the development of sustainable and resilient energy infrastructure.

Furthermore, the rest of the world's Renewable Energy Transition market is divided into the Middle East, Africa, and Latin America. This growth is attributed to an increasing recognition of the region's vast renewable energy potential, coupled with a commitment to diversify energy sources and reduce dependence on fossil fuels.

Key Findings of the Study

• The global Renewable Energy Transition market is expected to reach USD 1.09 billion by 2034, at a CAGR of 6.60% during the forecast period.


• The Asia-Pacific region accounted for the fastest-growing global market due to commitment to sustainable development, government initiatives promoting clean energy, and the increasing need for diversification of energy sources.


• Based on application, the residential segment was attributed to holding the largest market in 2022, with an approximate market share of 45–64%.


• Exelon Corporation, Duke Energy Corporation, Pacific Gas and Electric Company, Southern Company, American Electric Power, Edison International, Repsol, Brookfield Renewable Partners, Plug Power Inc., Enphase, First Solar.