ENERGY TRANSITION MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)

Market Concentration and Competitive Landscape

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Growing Consumer Demand for Sustainable and Clean Energy Solutions

Alongside government push, energy customers too are pulling the transition through their evolving requirements and preferences. Consumers today want reliable electricity which is also environment-friendly and economically efficient. They are increasingly willing to directly invest in clean technologies or opt for renewable energy supply programs. For individual households, rooftop solar systems and home batteries are attractive propositions to lower power bills through self-generation and storage. Over a million homes in countries like Australia, Germany and U.S. have already adapted such integrated solar-plus-storage solutions.

Businesses appreciate the branding and marketing benefits stemming from sustainable energy use. Many big corporations such as Siemens AG, General Electric Company, Vestas Wind Systems A/S, etc. now publicly commit to science-based emissions targets and sourcing a specific percentage of operations from renewables. Technology giants like Google, Facebook, and Amazon satisfy a major part of electricity demand through massive corporate renewable power purchase agreements. The manufacturing sector too sees a competitive advantage in switching to round-the-clock clean power through on-site solar plus wind hybrid projects. Companies at the forefront of sustainability stand to attract and retain top talent as well as gain customer favor in environment-conscious markets.

Individual consumer expectations on sustainability are also shaping energy policies indirectly. More young buyers today research sources and carbon footprint of the products they purchase. Automakers acknowledge this preference and rapidly expand electric vehicle ranges reducing dependence on oil.

• Siemens AG
• General Electric Company
• Vestas Wind Systems A/S
• First Solar, Inc.
• SunPower Corporation
• Tesla, Inc.
• Enphase Energy, Inc.
• Ørsted A/S
• ABB Ltd.
• Schneider Electric SE
• NextEra Energy, Inc.
• Canadian Solar Inc.
• Brookfield Renewable Partners L.P.
• Duke Energy Corporation
• BP plc