Market Size of East Asia Renewable Energy Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | > 8.00 % |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
East Asia Renewable Energy Market Analysis
The East Asian renewable energy market is expected to register a CAGR of more than 8% during the forecast period.
The market was slightly affected by the COVID-19 pandemic but has since recovered and is expected to grow steadily during the forecast period.
- Over the long term, factors such as increasing power demand and investment in renewable energy in different countries in the region are expected to drive the market studied.
- On the other hand, rising investments in coal-fired capacity in China and gas-fired capacity in Japan, South Korea, and Taiwan are expected to slow down the growth of the market during the forecast period.
- Nevertheless, the commercialization of energy generation from new and novel renewable energy sources such as marine and tidal energy is expected to provide several opportunities for the market during the forecast period.
- With more than 1160 GW of installed renewable energy capacity as of 2022, China is expected to continue its dominance in the renewable energy market during the forecast period.
East Asia Renewable Energy Industry Segmentation
Renewable energy refers to the energy that is generated from natural resources that can be replenished or renewed on a human timescale, such as solar, wind, hydro, geothermal, and biomass. Unlike fossil fuels, which are finite resources that are extracted from the earth and cannot be replenished, renewable energy sources are constantly replenished by nature and do not produce harmful emissions or pollution.
The East Asian renewable energy market is segmented by type, application, and geography (China, Japan, Taiwan, South Korea, and the rest of East Asia). By type, the market is segmented into solar, wind, hydro, and others. By application, the market is segmented into residential, commercial, and utility. The report also covers the market size and forecasts for the renewable energy market across major countries in the region. For each segment, market sizing and forecasts have been done based on installed capacity (GW).
| Source | |
| Solar | |
| Wind | |
| Hydro | |
| Other Sources |
| Geogrpahy | |
| China | |
| Japan | |
| South Korea | |
| Taiwan | |
| Rest of East Asia |
East Asia Renewable Energy Market Size Summary
The East Asian renewable energy market is poised for significant growth, driven by increasing power demand and substantial investments across the region. Despite the initial impact of the COVID-19 pandemic, the market has shown resilience and is expected to expand steadily. China, with its vast installed capacity, continues to lead the market, bolstered by its ambitious renewable energy projects and strategic focus on solar and wind energy. The country's dominance is further supported by its role as a major manufacturing hub for solar equipment, enabling rapid capacity additions. However, the market faces challenges from rising investments in coal and gas-fired capacities in countries like China, Japan, South Korea, and Taiwan, which could potentially slow down growth. Nonetheless, the exploration and commercialization of novel renewable energy sources, such as marine and tidal energy, present new opportunities for market expansion.
In Japan, the solar energy sector is experiencing robust growth, although land constraints and grid congestion pose challenges to utility-scale solar development. The country has been focusing on residential and commercial solar installations, utilizing rooftops to overcome land scarcity. South Korea is also making strides in solar energy, with significant investments in utility-scale projects and a strong solar manufacturing sector. The East Asian renewable energy market remains fragmented, with key players like Siemens Gamesa Renewable Energy, Jinko Solar Holding, and Trina Solar Limited contributing to the competitive landscape. Collaborative projects, such as the solar park in Taiwan and the solar capacity development in Japan, highlight the ongoing efforts to enhance renewable energy infrastructure in the region.
East Asia Renewable Energy Market Size - Table of Contents
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1. MARKET OVERVIEW
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1.1 Introduction
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1.2 Installed Capacity and Forecasts in GW, till 2028
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1.3 Recent Trends and Developments
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1.4 Government Policies and Regulations
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1.5 Market Dynamics
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1.5.1 Drivers
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1.5.2 Restraints
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1.6 Supply Chain Analysis
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1.7 Porter's Five Forces Analysis
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1.7.1 Bargaining Power of Suppliers
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1.7.2 Bargaining Power of Consumers
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1.7.3 Threat of New Entrants
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1.7.4 Threat of Substitute Products and Services
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1.7.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 Source
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2.1.1 Solar
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2.1.2 Wind
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2.1.3 Hydro
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2.1.4 Other Sources
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2.2 Geogrpahy
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2.2.1 China
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2.2.2 Japan
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2.2.3 South Korea
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2.2.4 Taiwan
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2.2.5 Rest of East Asia
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East Asia Renewable Energy Market Size FAQs
What is the current East Asia Renewable Energy Market size?
The East Asia Renewable Energy Market is projected to register a CAGR of greater than 8% during the forecast period (2024-2029)
Who are the key players in East Asia Renewable Energy Market?
JinkoSolar Holding Co Ltd. , Siemens Gamesa Renewable Energy SA , Xinjiang Goldwind Science & Technology Co., Ltd , Trina Solar Limited and Eurus Energy Holdings Corporation are the major companies operating in the East Asia Renewable Energy Market.
