Report cover image

Energy Transition Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Publisher Fortune Business Insights Pvt. Ltd.
Published Jan 01, 2025
Length 222 Pages
SKU # FOB19472356

Description

Energy Transition Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032



Growth Factors of Energy Transition Market

The global energy transition market size was valued at USD 1,769.80 billion in 2023. The market is projected to grow from USD 2,056.97 billion in 2024 to USD 6,474.40 billion by 2032, exhibiting a CAGR of 15.41% during the forecast period.

The energy transition is the global shift from fossil fuels to low-carbon and renewable energy sources, reshaping how energy can be produced, distributed, and utilized. This transition aims to improve energy security, reduce greenhouse gases, combat climate change, and foster sustainable development.

Rising environmental concerns and commitments, such the Paris Agreement’s 1.5°C target, emphasize the urgent need to reduce greenhouse gas emissions and mitigate climate risks. Major sectors, such as electricity generation and transportation, heavily rely on fossil fuels, which drive carbon emissions. This dependency highlights the critical need for adopting renewable energy to reduce environmental impact, thereby driving energy transition market growth.

Energy efficiency, particularly in residential and commercial building, is crucial for reducing energy waste, cutting costs, energy waste, and optimizing resource use, making it a core component of the energy transition. Moreover, the transportation sector is accelerating its shifts from internal combustion engine vehicles to battery electric and hybrid electric vehicles, driven by OEM investments and government incentives, which supports overall energy transition efforts.

Comprehensive Analysis of the Energy Transition Market

In terms of type, the market is classified into electrification, energy efficiency, renewable energy, and others. The electrification segment is slated to capture the key energy transition market share during the forecast period. Efforts to electrify transport and buildings are central to lowering CO2 emissions in the Net Zero by 2050 Scenario, with electric vehicles and heat pumps playing critical roles in emission reductions. On the basis of sector, the market is fragmented into transportation, power & utility, and others. The power & utility segment held the apex position in the market in 2023. Growing manufacturing capacity in India, the U.S., and the EU supports the solar PV supply chain, while China continues to lead in solar energy production. Based on geography, the market is studied across Europe, North America, Asia Pacific, Latin America, and the Middle East & Africa.

China and India are leading the market in the Asia Pacific region, with India targeting 450 GW of renewable energy capacity by 2030, including 280 GW from solar. The Energy Policy Act (EPA) in the U.S. emphasizes energy efficiency, renewable energy, and climate change technologies, creating a supportive regulatory environment that promotes energy transition.

The major players in the market are GE Vernova (U.S.), Iberdrola, S.A. (Spain), NextEra Energy, Inc. (U.S.), Constellation (U.S.), First Solar (U.S.), Ørsted A/S (Denmark), Dongfang Electric Corporation (China), ABB (Switzerland), Eaton (Ireland), Siemens AG (Germany), Danfoss (Denmark), Enel X S.r.l. (Italy), Ameresco (U.S.), Daikin Industries Ltd. (Japan), and Orion Energy Systems, Inc. (U.S.). The energy transition market emphasizes significant investments and a robust product portfolio from key players such as and Siemens, GE Vernova, and Ørsted A/S. Recently ABB and Korea Electric Power Corporation (KEPCO) signed a Memorandum of Understanding to enhance the stability of Jeju Island's power grid and support the transition to green energy.

The U.S. Department of State introduced the Clean Energy Transition Accelerator (CETA) project in Argentina in August 2024, offering USD 500,000 in technical support through its Department of Energy. This project was designed to lower greenhouse gas emissions and facilitate a faster transition to clean energy in Argentina.

Segmentation Table

Global Energy Transition Market Scope

Study Period 2019-2032

Base Year 2023

Forecast Period 2024-2032

Historical Period 2019-2022

Growth Rate CAGR of 15.41% from 2024 to 2032

Unit Value (USD Billion)

Segmentation By Type, Sector, and Region

Segmentation By Type

Renewable Energy

Electrification

Energy Efficiency

Others

By Sector

Power & Utility

Transportation

Others

By Region

North America (By Type, Sector, and Country)

U.S. (By Sector)

Canada (By Sector)

Europe (By Type, By Sector, and By Country)

U.K. (By Sector)

Germany (By Sector)

France (By Sector)

Italy (By Sector)

Spain (By Sector)

Rest of Europe (By Sector)

Asia Pacific (By Type, Sector, and Country)

China (By Sector)

India (By Sector)

Australia (By Sector)

Japan (By Sector)

South Korea (By Sector)

Rest of Asia Pacific (By Sector)

Latin America (By Type, Sector, and Country)

Brazil (By Sector)

Mexico (By Sector)

Rest of Asia Pacific (By Sector)

Middle East & Africa (By Type, Sector, and Country)

GCC (By Sector)

South Africa (By Sector)

Rest of the Middle East & Africa (By Sector)

Table of Contents

222 Pages
1. Introduction
1.1. Research Scope
1.2. Market Segmentation
1.3. Research Methodology
1.4. Definitions & Assumptions
2. Executive Summary
3. Market Dynamics
3.1. Market Drivers
3.2. Market Restraints
3.3. Market Opportunities
4. Key Insights
4.1. Key Emerging Trends – For Major Countries
4.2. Latest Technological Advancement
4.3. Insight on Regulatory Landscape
4.4. Porters Five Forces Analysis
4.5. Impact of COVID-19 on the Global Energy Transition Market
5. Global Energy Transition Market (USD Billion) Analysis, Insights, and Forecast, 2019-2032
5.1. Key Findings
5.2. Market Analysis, Insights, and Forecast – By Type
5.2.1. Renewable Energy
5.2.2. Electrification
5.2.3. Energy Efficiency
5.2.4. Others
5.3. Market Analysis, Insights, and Forecast – By Sector
5.3.1. Power & Utility
5.3.2. Transportation
5.3.3. Others
5.4. Market Analysis, Insights, and Forecast – By Region
5.4.1. North America
5.4.2. Europe
5.4.3. Asia Pacific
5.4.4. Latin America
5.4.5. Middle East and Africa
6. North America Energy Transition Market (USD Billion) Analysis, Insights, and Forecast, 2019-2032
6.1. Key Findings
6.2. Market Analysis, Insights, and Forecast – By Type
6.2.1. Renewable Energy
6.2.2. Electrification
6.2.3. Energy Efficiency
6.2.4. Others
6.3. Market Analysis, Insights, and Forecast – By Sector
6.3.1. Power & Utility
6.3.2. Transportation
6.3.3. Others
6.4. Market Analysis, Insights, and Forecast – By Country
6.4.1. U.S. Market Analysis, Insights, and Forecast –By Sector
6.4.1.1. Power & Utility
6.4.1.2. Transportation
6.4.1.3. Others
6.4.2. Canada Market Analysis, Insights, and Forecast – By Sector
6.4.2.1. Power & Utility
6.4.2.2. Transportation
6.4.2.3. Others
7. Europe Energy Transition Market (USD Billion) Analysis, Insights, and Forecast, 2019-2032
7.1. Key Findings
7.2. Market Analysis, Insights, and Forecast – By Type
7.2.1. Renewable Energy
7.2.2. Electrification
7.2.3. Energy Efficiency
7.2.4. Others
7.3. Market Analysis, Insights, and Forecast – By Sector
7.3.1. Power & Utility
7.3.2. Transportation
7.3.3. Others
7.4. Market Analysis, Insights, and Forecast – By Country
7.4.1. UK Market Analysis, Insights, and Forecast – By Sector
7.4.1.1. Power & Utility
7.4.1.2. Transportation
7.4.1.3. Others
7.4.2. Germany Market Analysis, Insights, and Forecast – By Sector
7.4.2.1. Power & Utility
7.4.2.2. Transportation
7.4.2.3. Others
7.4.3. France Market Analysis, Insights, and Forecast – By Sector
7.4.3.1. Power & Utility
7.4.3.2. Transportation
7.4.3.3. Others
7.4.4. Italy Market Analysis, Insights, and Forecast – By Sector
7.4.4.1. Power & Utility
7.4.4.2. Transportation
7.4.4.3. Others
7.4.5. Spain Market Analysis, Insights, and Forecast – By Sector
7.4.5.1. Power & Utility
7.4.5.2. Transportation
7.4.5.3. Others
7.4.6. Rest of Europe Market Analysis, Insights, and Forecast – By Sector
7.4.6.1. Power & Utility
7.4.6.2. Transportation
7.4.6.3. Others
8. Asia Pacific Energy Transition Market (USD Billion) Analysis, Insights, and Forecast, 2019-2032
8.1. Key Findings
8.2. Market Analysis, Insights, and Forecast – By Type
8.2.1. Renewable Energy
8.2.2. Electrification
8.2.3. Energy Efficiency
8.2.4. Others
8.3. Market Analysis, Insights, and Forecast – By Sector
8.3.1. Power & Utility
8.3.2. Transportation
8.3.3. Others
8.4. Market Analysis, Insights, and Forecast – By Country
8.4.1. China Market Analysis, Insights, and Forecast – By Sector
8.4.1.1. Power & Utility
8.4.1.2. Transportation
8.4.1.3. Others
8.4.2. Japan Market Analysis, Insights, and Forecast – By Sector
8.4.2.1. Power & Utility
8.4.2.2. Transportation
8.4.2.3. Others
8.4.3. India Market Analysis, Insights, and Forecast – By Sector
8.4.3.1. Power & Utility
8.4.3.2. Transportation
8.4.3.3. Others
8.4.4. Australia Market Analysis, Insights, and Forecast – By Sector
8.4.4.1. Power & Utility
8.4.4.2. Transportation
8.4.4.3. Others
8.4.5. South Korea Market Analysis, Insights, and Forecast – By Sector
8.4.5.1. Power & Utility
8.4.5.2. Transportation
8.4.5.3. Others
8.4.6. Rest of Asia Pacific Market Analysis, Insights, and Forecast – By Sector
8.4.6.1. Power & Utility
8.4.6.2. Transportation
8.4.6.3. Others
9. Latin America Energy Transition Market (USD Billion) Analysis, Insights, and Forecast, 2019-2032
9.1. Key Findings
9.2. Market Analysis, Insights, and Forecast – By Type
9.2.1. Renewable Energy
9.2.2. Electrification
9.2.3. Energy Efficiency
9.2.4. Others
9.3. Market Analysis, Insights, and Forecast – By Sector
9.3.1. Power & Utility
9.3.2. Transportation
9.3.3. Others
9.4. Market Analysis, Insights, and Forecast – By Country
9.4.1. Brazil Market Analysis, Insights, and Forecast – By Sector
9.4.1.1. Power & Utility
9.4.1.2. Transportation
9.4.1.3. Others
9.4.2. Mexico Market Analysis, Insights, and Forecast – By Sector
9.4.2.1. Power & Utility
9.4.2.2. Transportation
9.4.2.3. Others
9.4.3. Rest of Latin America Market Analysis, Insights, and Forecast – By Sector
9.4.3.1. Power & Utility
9.4.3.2. Transportation
9.4.3.3. Others
10. Middle East and Africa Energy Transition Market (USD Billion) Analysis, Insights, and Forecast, 2019-2032
10.1. Key Findings
10.2. Market Analysis, Insights, and Forecast – By Type
10.2.1. Renewable Energy
10.2.2. Electrification
10.2.3. Energy Efficiency
10.2.4. Others
10.3. Market Analysis, Insights, and Forecast – By Sector
10.3.1. Power & Utility
10.3.2. Transportation
10.3.3. Others
10.4. Market Analysis, Insights, and Forecast – By Country
10.4.1. GCC Market Analysis, Insights, and Forecast – By Sector
10.4.1.1. Power & Utility
10.4.1.2. Transportation
10.4.1.3. Others
10.4.2. South Africa Market Analysis, Insights, and Forecast – By Sector
10.4.2.1. Power & Utility
10.4.2.2. Transportation
10.4.2.3. Others
10.4.3. Rest of Middle East & Africa Market Analysis, Insights, and Forecast – By Sector
10.4.3.1. Power & Utility
10.4.3.2. Transportation
10.4.3.3. Others
11. Competitive Analysis
11.1. Company Market Share Analysis, 2023
11.2. Company Profile
11.2.1. Iberdrola, S.A.
11.2.1.1. Business Overview
11.2.1.2. Function and Service Offerings
11.2.1.3. Recent Developments
11.2.1.4. Financials (Based on Availability)
11.2.2. GE Vernova
11.2.2.1. Business Overview
11.2.2.2. Function and Service Offerings
11.2.2.3. Recent Developments
11.2.2.4. Financials (Based on Availability)
11.2.3. NextEra Energy, Inc.
11.2.3.1. Business Overview
11.2.3.2. Function and Service Offerings
11.2.3.3. Recent Developments
11.2.3.4. Financials (Based on Availability)
11.2.4. Constellation
11.2.4.1. Business Overview
11.2.4.2. Function and Service Offerings
11.2.4.3. Recent Developments
11.2.4.4. Financials (Based on Availability)
11.2.5. First Solar
11.2.5.1. Business Overview
11.2.5.2. Function and Service Offerings
11.2.5.3. Recent Developments
11.2.5.4. Financials (Based on Availability)
11.2.6. Ørsted A/S
11.2.6.1. Business Overview
11.2.6.2. Function and Service Offerings
11.2.6.3. Recent Developments
11.2.6.4. Financials (Based on Availability)
11.2.7. Dongfang Electric Corporation
11.2.7.1. Business Overview
11.2.7.2. Function and Service Offerings
11.2.7.3. Recent Developments
11.2.7.4. Financials (Based on Availability)
11.2.8. ABB
11.2.8.1. Business Overview
11.2.8.2. Function and Service Offerings
11.2.8.3. Recent Developments
11.2.8.4. Financials (Based on Availability)
11.2.9. Eaton
11.2.9.1. Business Overview
11.2.9.2. Function and Service Offerings
11.2.9.3. Recent Developments
11.2.9.4. Financials (Based on Availability)
11.2.10. Siemens AG
11.2.10.1. Business Overview
11.2.10.2. Function and Service Offerings
11.2.10.3. Recent Developments
11.2.10.4. Financials (Based on Availability)
11.2.11. Danfoss
11.2.11.1. Business Overview
11.2.11.2. Function and Service Offerings
11.2.11.3. Recent Developments
11.2.11.4. Financials (Based on Availability)
11.2.12. Enel X S.r.l.
11.2.12.1. Business Overview
11.2.12.2. Function and Service Offerings
11.2.12.3. Recent Developments
11.2.12.4. Financials (Based on Availability)
11.2.13. Ameresco
11.2.13.1. Business Overview
11.2.13.2. Function and Service Offerings
11.2.13.3. Recent Developments
11.2.13.4. Financials (Based on Availability)
11.2.14. Daikin Industries Ltd.
11.2.14.1. Business Overview
11.2.14.2. Function and Service Offerings
11.2.14.3. Recent Developments
11.2.14.4. Financials (Based on Availability)
11.2.15. Orion Energy Systems, Inc.
11.2.15.1. Business Overview
11.2.15.2. Function and Service Offerings
11.2.15.3. Recent Developments
11.2.15.4. Financials (Based on Availability)

Pricing

Currency Rates
How Do Licenses Work?

How Do Licenses Work?

The primary function of a report license is to define how many people within a company are authorized to use the purchased report. This is separate to how a report might be delivered. Unless specifically identified otherwise, the purchase option is Single User. Below is a helpful description of that license, along with a sampling of others most commonly offered.

  • This license allows only one user to have access to and to use/read the report. It is not one user at a time or one user group; it is an individual who will be reading and utilizing the report.

  • This license allows for the entire purchasing company to read and use the report. This is the license level that would allow for a report to be placed on an internal company shared drive for access by all employees of that direct company. This license does not extend to parent or sister company use.

  • This license is designed to allow an entire department within a company full access to a report. The departmental license is a great option for companies that have more than one location and the department is spread out all over the country/world

  • This license is for companies that have one location where they want the report to be accessible by all employees within that physical location.

  • This is the most flexible of the licensing options. Some publishers will allow you to get a license for a preset number of people (typically 5). These licenses are ideal for small work groups.

License options are at the discretion of each publisher. As such, not all licenses indicated above are available for every product. If you are uncertain of the best license for your needs or would like a license that is not proactively available, please contact us and we will be happy to assist.

Head shot

Questions or Comments?

Our team has the ability to search within reports to verify it suits your needs. We can also help maximize your budget by finding sections of reports you can purchase.
Chat Now
Contact Us