The global renewable energy market is projected to experience significant growth in the next decade. By 2025, worldwide electricity generation from renewable sources is expected to reach 8.74 trillion kWh, with an annual growth rate of 4.22% from 2025 to 2029 . The market size is forecast to expand to $2.15 trillion by 2025 , and further to over $2 trillion by 2030 .
Key drivers of this growth include increased investment in sustainability, transition away from fossil fuels, and technological advancements like automation and artificial intelligence . Regions such as the EU-27 are showing strong commitment, with a projected 5.62% annual growth rate from 2025 to 2029 . The United States is also witnessing significant shifts towards renewable energy, driven by federal incentives and corporate sustainability commitments .
Globally, environmental concerns, rapid urbanization, and economic growth in emerging regions are contributing to the market's expansion . This trend is reflected across various international groups, including G7, G20, and NAFTA countries, all of which are projecting substantial growth in renewable energy generation .