Singapore Renewable Energy Market Size & Share Analysis - Growth Trends & Forecasts (2025 - 2030)

The report covers Singapore Renewable Energy Companies and it is segmented by Source (Solar, Bioenergy, and Other Sources [Solid Biofuels and Renewable Municipal Waste]).

Singapore Renewable Energy Market Size & Share Analysis - Growth Trends & Forecasts (2025 - 2030)

Singapore Renewable Energy Market Size

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singapore renewable energy market share
Study Period 2020 - 2030
Base Year For Estimation 2024
Forecast Data Period 2025 - 2030
Historical Data Period 2020 - 2023
CAGR 3.00 %
Market Concentration Medium

Major Players

singapore renewable energy market major players

*Disclaimer: Major Players sorted in no particular order

Compare market size and growth of Singapore Renewable Energy Market with other markets in Energy & Power Industry

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Energy Storage Technology

Singapore Renewable Energy Market Analysis

The Singapore Renewable Energy Market is expected to register a CAGR of greater than 3% during the forecast period.

The solar energy segment is expected to dominate the market during the forecast period, owing to increasing capacity installations in the country.

Singapore aims to deploy at least 2 GW of solar energy by 2030, attracting new investments from domestic and foreign companies, which is anticipated to create opportunities for the market to grow in the future.

Favorable government policies to increase the renewable energy installed capacity is expected to drive the market during the forecast period.

Singapore Renewable Energy Industry Overview

The Singapore renewable energy market is moderately fragmented. The key players in the market include Sunseap Group, Solargy Pte Ltd, Sembcorp Industries, Phoenix Solar Pte Ltd, and REC Solar Holdings AS.

Singapore Renewable Energy Market Leaders

  1. Sunseap Group​

  2. Sembcorp Industries

  3. Phoenix Solar Pte Ltd​

  4. Solargy Pte Ltd​

  5. REC Solar Holdings AS

  6. *Disclaimer: Major Players sorted in no particular order
Sunseap Group​, Solargy Pte Ltd​, Sembcorp Industries, Phoenix Solar Pte Ltd​, and REC Solar Holdings AS.
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Singapore Renewable Energy Market News

  • In July 2021, Sembcorp Industries unveiled one of the world's largest floating solar panel farms. The project is located on a reservoir in western Singapore, with a 60 MW peak solar photovoltaic (PV) farm installed capacity.
  • In March 2021, Amazon announced its first renewable energy project in Singapore, a 62 megawatt (MW) solar project made up of a series of solar panels mounted on a ground system. The project is expected to generate 80,000-megawatt-hours (MWh) of clean energy annually, enough to power more than 10,000 homes in Singapore.

Singapore Renewable Energy Market Report - Table of Contents

1. INTRODUCTION

  • 1.1 Scope of the Study
  • 1.2 Market Definition
  • 1.3 Study Assumptions

2. EXECUTIVE SUMMARY

3. RESEARCH METHODOLOGY

4. MARKET OVERVIEW

  • 4.1 Introduction
  • 4.2 Renewable Energy Installed Capacity and Forecast in MW, till 2027
  • 4.3 Recent Trends and Developments
  • 4.4 Government Policies and Regulations
  • 4.5 Market Dynamics
    • 4.5.1 Drivers
    • 4.5.2 Restraints
  • 4.6 Supply Chain Analysis
  • 4.7 PESTLE Analysis

5. MARKET SEGMENTATION

  • 5.1 Source
    • 5.1.1 Solar
    • 5.1.2 Bioenergy
    • 5.1.3 Other Sources (Solid Biofuels and Renewable Municipal Waste)

6. COMPETITIVE LANDSCAPE

  • 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
  • 6.2 Strategies Adopted by Leading Players
  • 6.3 Company Profiles
    • 6.3.1 Sunseap Group
    • 6.3.2 Solargy Pte Ltd
    • 6.3.3 Sembcorp Industries
    • 6.3.4 Phoenix Solar Pte Ltd
    • 6.3.5 REC Solar Holdings AS
    • 6.3.6 Keppel Seghers
    • 6.3.7 LYS Energy Group
    • 6.3.8 SunPro Energies Pte Ltd
  • *List Not Exhaustive

7. MARKET OPPORTUNITIES AND FUTURE TRENDS

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Singapore Renewable Energy Industry Segmentation

The Singapore renewable energy market report includes:

Source Solar
Bioenergy
Other Sources (Solid Biofuels and Renewable Municipal Waste)
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Singapore Renewable Energy Market Research FAQs

What is the current Singapore Renewable Energy Market size?

The Singapore Renewable Energy Market is projected to register a CAGR of greater than 3% during the forecast period (2025-2030)

Who are the key players in Singapore Renewable Energy Market?

Sunseap Group​, Sembcorp Industries, Phoenix Solar Pte Ltd​, Solargy Pte Ltd​ and REC Solar Holdings AS are the major companies operating in the Singapore Renewable Energy Market.

What years does this Singapore Renewable Energy Market cover?

The report covers the Singapore Renewable Energy Market historical market size for years: 2020, 2021, 2022, 2023 and 2024. The report also forecasts the Singapore Renewable Energy Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.

Singapore Renewable Energy Industry Report

The Singapore renewable energy market is experiencing robust growth, driven by government support, technological advancements, and increasing public awareness. With limited natural resources and a heavy reliance on imported fossil fuels, Singapore is diversifying its energy mix towards renewable sources such as solar, wind, hydro, biomass, and geothermal energy. This shift aims to achieve greater energy self-sufficiency and reduce carbon emissions. The government's implementation of policies like feed-in tariffs and tax incentives has spurred investments from energy companies and encouraged the integration of renewable energy into the national grid.

Despite challenges such as limited land and high initial costs, opportunities in offshore wind energy and energy storage technologies are emerging, crucial for managing the intermittent nature of renewable sources and ensuring a stable energy supply. The market, segmented by energy source, end-use sector, and project scale, sees solar power leading growth due to favorable climatic conditions and proactive government initiatives.

The largest companies are playing a significant role in this transition, contributing to the industry's growth forecast and annual report statistics. Market research indicates that the growth rate of the industry is promising, supported by comprehensive industry analysis and industry growth data. The industry outlook remains positive, with industry reports highlighting the increasing market value and market growth.

For detailed statistics, market share, size, revenue growth rate, and a forecast outlook, refer to industry reports by Mordor Intelligence™, which provide a comprehensive analysis and free report PDF downloads. The market leaders are expected to drive further advancements, with market forecasts predicting continued expansion. The market overview and market update sections provide insights into price trends and sector analysis, essential for understanding the industry's trajectory.

Research companies are actively engaged in providing market data and market review reports, which are crucial for understanding market segmentation and market predictions. The industry trends and industry statistics offer a clear picture of the industry's current state and future potential. For those interested in detailed insights, the report example and report PDF provide valuable information on the industry's progress and future prospects.