Energy Transition Market is expected to grow at a CAGR of 8.7% through 2030F
The Global Energy Transition Market is
increasing due to Corporate Sustainability Initiatives and Energy Security
& Geopolitical Shifts during during the forecast period.
According to TechSci Research
report, “Energy Transition
Market - Global Industry Size, Share, Trends, Competition Forecast &
Opportunities, 2030F, Global Energy Transition Market was valued at USD 3.1
trillion in 2024 and is expected to reach USD 5.2 trillion by 2030 with a CAGR
of 8.7% through 2030. One key driver is
the rising energy security concerns amid geopolitical tensions and fossil fuel
supply disruptions. Countries are increasingly investing in renewable energy
infrastructure, domestic energy production, and diversified energy sources to
reduce dependence on imported oil and gas. This shift enhances national energy
security while promoting long-term economic stability.
Another
critical driver is the growing role of corporate sustainability commitments.
Large multinational corporations are prioritizing net-zero targets, carbon
neutrality, and clean energy procurement as part of their environmental,
social, and governance (ESG) strategies. Many companies are entering power
purchase agreements (PPAs) with renewable energy providers, further driving
market growth.
Furthermore,
the rise of electrification across industries, including electric mobility,
smart buildings, and industrial automation, is increasing electricity demand,
pushing investments in renewable energy and battery storage. The development of
next-generation nuclear energy, biofuels, and waste-to-energy solutions also
contributes to a diversified clean energy mix.
With
advancements in grid modernization, energy efficiency technologies, and
cross-border energy trading, the Global Energy Transition Market continues to
expand, offering long-term economic and environmental benefits worldwide.
Browse over XX market data Figures
spread through XX Pages and an in-depth TOC on the "Global Energy Transition Market"
Based on Type, Energy Efficiency segment
dominated the Energy Transition market, driven by the urgent need to reduce
energy consumption, lower operational costs, and enhance sustainability. With
rising energy demand and increasing environmental concerns, businesses,
governments, and consumers are actively investing in energy-efficient
technologies and solutions to optimize resource utilization. The integration of
advanced smart grid systems, energy management software, and high-efficiency
appliances is playing a crucial role in minimizing energy waste while ensuring
optimal performance across various sectors.
Governments worldwide are enforcing
strict energy efficiency policies and standards, such as the European Green
Deal, the U.S. Energy Star program, and China's Dual Carbon Goals, encouraging
industries and households to adopt LED lighting, smart HVAC systems, and
high-efficiency motors. Additionally, regulatory frameworks promoting net-zero
buildings, green certifications, and retrofitting of aging infrastructure are
further propelling market growth. The industrial sector, which accounts for a
significant portion of global energy consumption, is implementing waste heat
recovery systems, energy-efficient manufacturing processes, and automation
technologies to enhance productivity while reducing emissions.
The increasing penetration of Internet
of Things (IoT)-enabled energy management systems, Artificial Intelligence
(AI)-driven predictive maintenance, and blockchain-based decentralized energy
trading is revolutionizing the way energy is consumed and distributed. Smart
cities and smart buildings are adopting advanced insulation materials, demand
response systems, and real-time energy monitoring solutions to improve
efficiency. The transportation sector is also undergoing a transformation with
the widespread adoption of electric vehicles (EVs), regenerative braking
systems, and lightweight materials, reducing energy usage and reliance on
fossil fuels.
Moreover, corporate sustainability goals
and Environmental, Social, and Governance (ESG) mandates are encouraging
companies to integrate energy-efficient technologies into their operations.
Leading corporations are investing in green data centers, energy-efficient
cooling solutions, and cloud-based energy management platforms to align with
global carbon reduction targets. The financial sector is also playing a pivotal
role by offering green financing, energy efficiency bonds, and low-interest
loans to support businesses in their transition toward sustainable operations.
The economic benefits of energy
efficiency, including lower electricity bills, reduced maintenance costs, and
increased asset value, are compelling industries and households to make
long-term investments in sustainable energy solutions. As innovations continue
to advance, and as regulations become more stringent, the Energy Efficiency
segment is expected to maintain its dominance in the Global Energy Transition
Market, shaping the future of sustainable energy consumption worldwide.
North America is the fastest-growing
region for the Energy Transition market, driven by strong government policies,
increasing investments in renewable energy, and rapid advancements in clean
technologies. The United States and Canada are leading the transition with
aggressive carbon neutrality goals, renewable energy incentives, and
infrastructure modernization. The U.S. Inflation Reduction Act (IRA) of 2022
has significantly boosted investments in solar, wind, hydrogen, and battery
storage, accelerating clean energy adoption across the country. Similarly,
Canada’s Clean Electricity Regulations and net-zero targets are driving
large-scale renewable energy projects.
The region is witnessing rapid expansion
in offshore and onshore wind projects, large-scale solar farms, and battery
storage facilities. Companies are actively investing in smart grids, carbon
capture and storage (CCS), and electrification of transportation, further
supporting market growth. Additionally, the rise of green hydrogen projects and
bioenergy solutions is diversifying the clean energy landscape.
Corporate sustainability commitments are
another key growth driver, with major companies signing power purchase
agreements (PPAs) to source renewable energy for their operations. With
technological innovations, favorable policies, and increasing public and
private sector investments, North America is poised to dominate the global
energy transition market, leading the way toward a low-carbon future.
Key market players in the Energy
Transition Market are: -
- Siemens AG
- General Electric Company
- Vestas Wind Systems A/S
- First Solar, Inc.
- SunPower Corporation
- Tesla, Inc.
- Enphase Energy, Inc.
- Ørsted A/S
- ABB Ltd.
- Schneider Electric SE
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“The Global Energy Transition Market
presents significant opportunities driven by technological advancements,
supportive policies, and increasing investments in renewable energy. The rapid
decline in solar, wind, and battery storage costs has made clean energy more
accessible, opening avenues for large-scale adoption. Emerging markets in
Asia-Pacific, Latin America, and Africa offer untapped potential for renewable
energy expansion, driven by growing electricity demand and government
commitments to sustainability. Green hydrogen production is another major
opportunity, with increasing investments in electrolysis technology to support
industrial decarbonization and energy storage. Global Energy Transition Market is set to witness sustained
opportunities for innovation and development.” said Mr. Karan Chechi, Research
Director of TechSci Research, a research-based global management consulting
firm.
“Energy Transition Market
– Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented By
Type (Renewable Energy, Energy Efficiency, Electrification, Hydrogen, Others),
By Application (Residential, Commercial, Utility Scale), By Region & Competition, 2020-2030F”,
has evaluated the future growth potential of Energy Transition
Market and provides statistics & information on market size,
structure, and future market growth. The report intends to provide cutting-edge
market intelligence and help decision makers take sound investment decisions.
Besides the report also identifies and analyzes the emerging trends along with
essential drivers, challenges, and opportunities in Energy Transition Market.
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