by Brianna Crandall — May 14, 2014—Of interest to those evaluating alternative energy sources to combat rising energy costs, Transparency Market Research has published a report on the near-term outlook of the green energy market. As TMR notes, depleting energy resources and ever increasing energy demands are encouraging the shift towards use of natural and renewable energy resources for fulfilling these energy demands.
Solar energy is the largely available, non-depleting energy source to humans; however, conversion methods are slightly costlier that are limiting the use of sun energy in widespread applications, explains TMR. This is encouraging the need for other energy sources like wind energy, organic waste, thermal energy and hydro power, among others.
According to the report, growing environmental concerns and regulations from governments to encourage the use of green energy are some of the important factors driving the green energy market growth. Other contributing factors include:
- Growing concerns over limited availability of fossil fuel reserves
- Security of supply
- Dependence on import of fossil fuels
- Support from governments and financial incentives
The green energy market is expected to witness tremendous growth in the near future, as it reduces the emission of harmful greenhouse gases and does not have harmful effects on the environment. Also, these energy sources are efficient, cost effective, and available in large quantity. Governments of most developed nations are engaged in research and development for improving the efficiency of green energy and making it available for a wide range of applications, notes the report.
Some of the key players dominating the market are AAF International, Carrier Corporation, Chevron Energy Solutions, Cooper Industries, Daikin Industries, Ebara Corporation, Emerson, GE Energy, Green Heating, Hitachi, Honeywell, Hubbell Lighting, Johns Manville, Johnson Controls, Korea Energy Management Corporation (KEMCO), LG Electronics, Owens Corning, Pepco Energy Services, Philips, Samsung, Siemens and United Technologies Corporation (UTC).
The research report analyzes the green energy market based on its major geographies and market segmentation: solar energy, wind energy, hydro energy, thermal power and biomass. The report provides detailed analysis of these market segments as well as of current trends, factors driving market growth, restraints, industry structure, and market projections for upcoming years.
Green Energy (Solar PV, Wind Energy, Hydroelectric Power, Bio-fuels, Geothermal Energy) Market—Global Industry Analysis, Market Size, Share, Growth, Trends and Forecast, 2013-2019 is available for sale from the Transparency Market Research Web site.
