Clean Energy Infrastructure Market Size, Share, Competitive Landscape and Trend Analysis Report, by Infrastructure Type, by End-Use : Global Opportunity Analysis and Industry Forecast, 2024-2033

Key Market Dynamics

The rise in investments in renewable projects serves as a powerful catalyst thar drives the demand for the clean energy infrastructure market. According to the International Energy Agency, global investments in clean energy could reach an unprecedented $1.8 trillion in 2023, however, this must increase significantly to about $4.5 trillion annually by early 2030 to align with the Net Zero Emissions (NZE) scenario, As global awareness of the need for sustainable and environmentally friendly energy solutions grows, investors are increasingly recognizing the potential and long-term viability of renewable projects. This surge in financial commitments fosters the development of robust clean energy infrastructure, which include various technologies such as solar, wind, hydropower, and energy storage. In addition, rise in global consensus on mitigating climate change has made countries and businesses transition toward cleaner energy sources. This momentum has resulted in an influx of capital into renewable energy projects, ranging from utility-scale installations to distributed generation systems. All these factorsdrive the growth of the clean energy infrastructure market.

High initial capital costs present a significant hurdle to the growth of the clean energy infrastructure market. Establishing renewable energy projects, such as solar, wind, or hydropower facilities, requires substantial upfront investments. These capital-intensive projects involve expenses related to equipment procurement, site preparation, installation, and grid integration. In addition, risk perception associated with the high costs discourage both private and public sector investments. Financial institutions and investors often view the extended payback periods for clean energy projects as a potential deterrent, especially when compared to quicker returns offered by conventional energy investments. All these factors hamper the growth of the clean energy infrastructure market.

The ongoing evolution of solar, wind, hydropower, and other renewable technologies presents significant opportunities for the clean energy infrastructure market. According to International Energy Agency (IEA) , solar PV and wind additions are expected to be more than double compared to 2022. Breakthroughs in solar photovoltaic (PV) technologies, such as improvements in efficiency and reductions in manufacturing costs, have made solar energy increasingly competitive. This opens up opportunities for large-scale solar farms and distributed solar installations, contributing to the diversification of the clean energy mix. All these factors are anticipated to offer new growth opportunities for the clean energy infrastructure market during the forecast period.

Patent Analysis for Clean Energy Infrastructure Market

The U.S. collectively hold more than half of the total clean energy infrastructure patents that indicate strong innovation and investment in this technology in U.S. countries. This suggests fierce competition and a significant focus on clean energy infrastructure R&D in these leading economies. U.S. has the highest patent filed that accounts for 56.1% of the total global patents related to the clean energy infrastructure market. Europe and PCT, although holding smaller percentages of clean energy infrastructure patents individually, collectively contribute to the overall Asian dominance in clean energy infrastructure innovation. This reflects the region's strong presence in materials science and engineering R&D. Recent patent filings in the clean energy infrastructure market span a spectrum of innovations, including advanced compositions of materials, novel production methods for clean energy infrastructure components, sintered compositions for enhanced performance, and innovative compositions for clean energy infrastructure foams.

Parent Market Overview

Renewable energy is derived from natural sources such as wind and sunlight. Solar, geothermal, wind, bioenergy, hydropower, and ocean power are some of the major sources of renewable energy. Currently, renewable energy is utilized in heating, electricity, cooling, and transport sectors. Renewable energy collectively provides around 7% of the world’s energy demand. Renewable energy is relatively more expensive than fossil fuel. Several factors are responsible to drive the usage of renewable energies, the most crucial is global warming due to carbon dioxide (CO2) emission from the combustion of fossil fuels. The concern about the reduction of greenhouse gas emissions, increase in search for energy security along with the aversion to traditional nuclear power, and lack of progression in the application of the nuclear power are expected to drive the demand for geothermal power market during the forecast period.

Hydropower is the single largest source of renewable electricity globally. In 2022, renewable electricity generation from hydropower accounted for nearly 41% of total renewable energy, the largest contribution from hydropower in global renewable-based electricity generation.

Market Segmentation

The clean energy infrastructure market is segmented into infrastructure type, end use, and region. By infrastructure type, the market is classified into power generation facilities, energy storage systems, transmission, and distribution networks. By end use, the market is divided into residential, commercial, and industrial. Region-wise the market is studied across areas such as North America, Europe, Asia-Pacific, and LAMEA.

Asia-Pacific Region Market Outlook

The Asia-Pacific region is emerging as a powerhouse in the clean energy infrastructure market, fueled by rapid economic growth, urbanization, and increase in energy demand. Countries such as China, India, and Japan invest heavily in renewable energy capacity to address energy security concerns and combat air pollution. China leads the world in solar and wind power deployment, supported by government incentives and ambitious clean energy targets. India's focus on expanding access to electricity and promoting renewable energy adoption has led to substantial investments in solar, wind, and hydroelectric projects. Meanwhile, Japan's technological expertise drives innovation in clean energy technologies such as solar panels and energy storage systems.

India, with its rapidly growing economy and population, is making significant strides in clean energy infrastructure development to meet the country's energy needs while addressing environmental challenges. The Indian government has set ambitious targets for renewable energy deployment, including massive expansions in solar and wind power capacity. India has become one of the world's largest markets for solar energy, with extensive solar photovoltaic installations across the country.

Japan is a leader in solar photovoltaic technology, with extensive rooftop solar installations and utility-scale solar farms. Moreover, Japan is investing in offshore wind power, energy storage, and hydrogen energy to diversify its energy mix and enhance energy security. The country's focus on energy efficiency measures and smart grid technologies further strengthens its position in the clean energy infrastructure.

Competitive Landscape

Key players in the clean energy infrastructure market include NextEra Energy, Inc., Enel Spa, Iberdrola, S.A, Canadian Solar., First Solar, SunPower Corporation., ACCIONA ENERGÍA, Suzlon Energy Limited, Adani Group, Tata Power. Other players in the clean energy infrastructure market are Tesla, BYD Company Limited, ABB Group, Vestas.

Recent Key Strategies and Developments

• In August 2023, Suzlon Group, India's leading provider of renewable energy solutions, has secured a significant order for the development of a 31.5 MW wind power project in collaboration with Integrum Energy Infrastructure Private Limited. The project entails the installation of 15 units of Suzlon's S120 - 140m wind turbine generators (WTGs) featuring Hybrid Lattice Tubular (HLT) towers, each with a rated capacity of 2.1 MW. These turbines will be deployed across sites in Maharashtra and Karnataka, two key states for renewable energy development in India. With an anticipated completion date set for May 2024, this project marks another milestone in Suzlon's commitment to advancing sustainable energy infrastructure and contributing to India's renewable energy goals.

• In April 2024, Adani Green Energy Ltd announced a significant milestone in India's renewable energy landscape, as it successfully commissioned 2, 000 MW of solar capacity at the expansive Khavda solar park in Gujarat. With this achievement, Adani Green Energy becomes the first company in India to surpass 10, 000 MW of renewable energy capacity, reaffirming its position as a leader in the sector. The completion of this solar project underscores Adani Green Energy's commitment to driving sustainable energy solutions and contributing to the country's ambitious renewable energy targets.

The impact of these companies on the clean energy infrastructure market is profound, driving technological innovation, expanding applications, and enhancing the scalability of this remarkable material, thus shaping the future dynamics of the industry.

Industry Trends

• According to the International Energy Agency (IEA) , India's installed renewable energy capacity is expected to reach 174 GW in 2023, accounting for about 37% of the country's total energy supply. The report indicates that India has exceeded its target of installing 175 GW of renewable energy capacity by 2022, with a projected capacity of 280 GW by 2025.

• According to the International Renewable Energy Agency, in 2022, the global hydropower installed capacity reached 1,393 gigawatts (GW) , representing a rise of 2.19% compared to 2021. The hydropower installed capacity is expected to grow with the upcoming hydro projects and technological advancements.

• In January 2022, SJVN (Satluj Jal Vidyut Nigam Ltd) bagged a solar project of 125 MW in Uttar Pradesh, India through a bidding process held by the Uttar Pradesh New and Renewable Energy Development Agency (UPNEDA) . The project includes a 75 MW grid-connected solar project in Jalaun and a 50 MW solar project in Kanpur Dehat districts.

• In 2022, China was the global leader in renewable energy deployment. The country's total renewable energy capacity reached 1,160.8 GW in 2022, representing an increase of approximately 13.4% compared to 2021. Hydropower, solar, and wind are the major renewable energy sources in the country

Key Sources Referred

1. International Energy Agency

2. ET Energy World

3. International Renewable Energy Agency

4. India Brand Equity Foundation

5. Department of Energy

6. Invest India

7. National Grid

Key Benefits For Stakeholders

• This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the clean energy infrastructure market analysis from 2024 to 2033 to identify the prevailing clean energy infrastructure market opportunities.

• The market research is offered along with information related to key drivers, restraints, and opportunities.

• Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.

• In-depth analysis of the clean energy infrastructure market segmentation assists to determine the prevailing market opportunities.

• Major countries in each region are mapped according to their revenue contribution to the global market.

• Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.

• The report includes the analysis of the regional as well as global clean energy infrastructure market trends, key players, market segments, application areas, and market growth strategies.