COVID-19 Impact on Renewable Energy Market by Technology, End-User and Region - Global Forecast to 2021 - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--May 1, 2020--
The “COVID-19 Impact on Renewable Energy Market by Technology (Wind and Solar), End-User (Utilities, Captive (Industrial, Commercial and Residential) and Region - Global Forecast to 2021” report has been added to ResearchAndMarkets.com’s offering.
The Global Renewable Energy Market Size is Projected to Grow from USD 184.3 Billion in 2020 to USD 226.1 Billion by 2021.
The coronavirus pandemic is adding to the uncertainties that the global oil industry face as it contemplates new investments and business strategies. The pressures on companies are increasing, as they need to show that they can deliver not just the energy that economies rely on but also can reduce emissions that the world needs to tackle the climate change challenges.
The solar segment dominated the renewable energy industry during the forecast period
The solar segment, by technology type, is expected to dominate the global renewable energy market during the forecast period. The solar energy producers’ product portfolio includes inverters, cells, and modules. Some of the major solar energy producers are Canadian Solar (Canada), Jinko Solar (China), SunPower (US), and Tina Solar (China). These manufacturers are still operating with limited production capacities.
The solar producers are negotiating contractual scheduling with their customers. Canadian Solar, which has its substantial PV manufacturing operations in China, has limited cases where the company has to change the shipping schedules. The company is largely able to deliver its orders on-time. This shows that the manufacturers are trying to deliver on time, which is expected to fuel the overall solar segment in the renewable energy market.
The utilities/power producers segment is projected to be the largest renewable energy market during the forecast period
The utilities/power producers segment, by end-user type, is expected to dominate the global renewable energy market during the forecast period. Strict lockdown regulations are stopping people and goods from a free movement, thereby creating a heavy blow to the demand for transport fuels. This is the right time for the utilities to make the transition to 100% renewable energy.
Utilities/power producers, who had already shifted or are planning to shift to the renewable energy sector will be the gainers during the forecast period. Also, the long-term and reliable government policies and increased energy independence are expected to be the key motives for utilities making the transition to 100% renewables in the future.
Asia Pacific is projected to be the largest and optimistic market during the forecast period
Asia Pacific is the largest renewable energy market, by region, during the forecast period. China and India are two big renewable energy markets in the region, which is the reason for market growth in the region. Several of the top ten solar PV manufacturers (in terms of module shipments) are based in China, including Jinko Solar, JA Solar, Trina Solar, LONGi Solar, Risen Energy, GCL System, and Suntech. These companies are expected to resume their operation by the end of April 2020 because of limited COVID-19 cases in China. This is likely to drive the renewable energy market in the region because North America and Europe are still under strict lockdown regulations.
Key Topics Covered:
1.2 Confirmed Cases and Deaths By Geography
2 Covid-19 Impact Renewable Energy Ecosystem
2.1 Value Chain of Renewable Industry
2.2 Impact on Value Chain
2.2.1 Raw Materials/Suppliers
2.2.3 Transport and Logistics
2.2.4 Grid Connection
2.2.6 Operation and Maintenance
2.3 Macroeconomic Indicators/
3 Customer Analysis
3.1 Shift in Solar Power Producers
3.1.1 Disruption in the Industry
3.1.2 Key Initiatives to Mitigate/Reduce the Impact and to Resume/Improve Production
3.1.3 Solar Energy Supply Chain
3.1.4 New Market Opportunities/Growth Opportunites
3.2 Shift in Wind Energy Producers
3.2.1 Disruption in the Industry
3.2.2 Key Initiatives to Mitigate/Reduce the Impact and to Resume/Improve Production
3.1.3 Wind Energy Supply Chain
3.2.4 New Market Opportunities/Growth Opportunites
4 Disruptions in Renewable Energy Market
4.1 Biggest Gainers and Losers By Technology
4.2 Biggest Gainers and Losers By End Users
4.2.1 Utilities/Power Producers
4.2.2 Captive (Commercial, Industrial, and Residential)
5 Short Term Strategies of Renewable Energy Companies Due to Covid-19 Impact
5.1 Impact on Wind Energy Companies Portfolio
5.2 Impact on Solar Energy Companies Portfolio
5.3 Winning Strategies to Gain Market Share
5.3.1 Short Term Strategies
5.3.3 Long Term Strategies
6 Impact of Covid-19 in Renewable Energy Market
6.1 Renewable Energy By Technology Type
6.2 Renewable Energy By End-User
6.2.1 Utilities/Power Producers
6.3.1 North America
6.3.3 Asia Pacific
6.3.4 Middle East & Africa
6.3.5 South America
For more information about this report visit https://www.researchandmarkets.com/r/hiwtbc
View source version on businesswire.com:https://www.businesswire.com/news/home/20200501005198/en/
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SOURCE: Research and Markets
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PUB: 05/01/2020 04:46 AM/DISC: 05/01/2020 04:46 AM