Albany, NY -- (SBWIRE) -- 03/18/2015 -- The global green energy market is projected to have a market size of USD 831.99 billion by 2019. This growth is estimated to grow at a CAGR of 8.3% from 2013 to 2019.

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The demand and emphasis on the sustainable, green, and renewable energy sources is exalted due to the depleting energy resources and ever rising energy demands across the world. Green energy is clean energy which is produced by renewable energy sources. This type of energy does not cause any environmental hazards and can be maintained in variable safe conditions. There are many encouraging government regulations which comply with the shift towards the use of renewable and natural energy resources for fulfilling the basic energy demands.

The major factors driving the growth in demand for global green energy market include environmental concerns, rising energy demand, fuel shortage/replacement, renewable portfolio standards and regulations, coal plant retirements, and need for natural gas hedge. Increasing awareness regarding green energy among the world population is majorly tending toward the benefits of green energy and the growth of this market.

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This research report provides details of the market dynamics and the need for energy related environmental and security concerns. It discusses the limiting factors faced due to higher installation costs and the purpose of transforming the market potential to businesses. It offers market insights and data pertaining to the size and growth of various green energy types, along with complete analysis of existing, as well as emerging industry trends. The study report also offers a comprehensive coverage of varied facets such as the economic, environmental, and social issues affecting the green energy business.

The resource types included in this study report are solar photovoltaic, bio-fuels, wind energy, hydropower, and geothermal energy. However, among all the energy kinds, solar photovoltaic is predicted to be the fastest growing sector because of the fall in prices that has captured consumer interest in the solar energy segment. This segment is growing with a CAGR of 14.6% during the period 2013 to 2019. Solar photovoltaic (PV) inverters market was valued at USD 7.15 billion in 2012. Owing to the decline in average selling prices, the freights of solar PV inverters are rising across the world. The market predicted a decline in terms of revenue in 2013, but is expected to increase for the year 2014. The year 2012 also witnessed hydropower as the largest green energy segment, due to a significantly large pre-installed base.

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Commercial sector was the largest in 2012, followed by industrial sector. Nevertheless, with an estimated CAGR of 9.4%, the residential segment is augmented to boost the growth in the global market during the period 2013 to 2019.

Geographically, in terms of revenue, North America was the largest region in the global green energy market in 2012. It held a total market share of 32.2% globally. Subsequently, the Asia Pacific market is driven by increased renewable investments and rising energy demands. The size for green energy in Asia-Pacific is estimated to grow at a CAGR of 10.3% over the period 2013 to 2019. Besides the report discussing the green energy market across regions including North America, Europe, Asia Pacific and Rest of the World (RoW), it also mentions some of the key players that have been profiled in this market. They include, GE Energy, First Solar Inc, ABB Ltd., Alterra Power Corporation, Yingli Green Energy Holding Co. Ltd., Enercon GmbH, Suzlon Energy Ltd., and many more.

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