Press release
Energy Transition Market Growth Driven by Global Decarbonization Goals
Energy Transition Market
The Global Energy Transition Market is experiencing rapid growth as nations and industries prioritize renewable energy, decarbonization, and advanced technologies to combat climate change. Valued at USD 2.87 Trillion in 2023, the market is projected to grow at a robust CAGR of 9.4% from 2024 to 2030, reaching USD 5.39 Trillion by 2030. This press release explores the market's growth trajectory, regional insights, mergers and acquisitions, and key developments across Vietnam, Thailand, Japan, South Korea, Singapore, the US, and Europe.
๐๐จ ๐๐ฑ๐ฉ๐ฅ๐จ๐ซ๐ ๐ญ๐ก๐ข๐ฌ ๐ฌ๐ฎ๐๐ฃ๐๐๐ญ ๐ฆ๐๐ญ๐ญ๐๐ซ ๐๐ฎ๐ซ๐ญ๐ก๐๐ซ, ๐ฉ๐ฅ๐๐๐ฌ๐ ๐๐ฅ๐ข๐๐ค ๐จ๐ง ๐ญ๐ก๐ ๐ฅ๐ข๐ง๐ค ๐ฉ๐ซ๐จ๐ฏ๐ข๐๐๐: https://www.maximizemarketresearch.com/request-sample/191270/
๐๐ข๐๐ญ๐ง๐๐ฆ: ๐๐ง๐๐ซ๐ ๐ฒ ๐๐ซ๐๐ง๐ฌ๐ข๐ญ๐ข๐จ๐ง ๐๐๐ซ๐ค๐๐ญ ๐๐ซ๐จ๐ฐ๐ญ๐ก ๐ข๐ง ๐๐๐ง๐๐ฐ๐๐๐ฅ๐ ๐๐ซ๐จ๐ฃ๐๐๐ญ๐ฌ
Vietnam's energy transition market is growing due to its commitment to renewable energy projects, particularly solar and wind. Companies like First Solar and Siemens Gamesa are actively investing in Vietnam's renewable energy infrastructure. Recent government policies promoting renewable energy adoption have bolstered market growth, making Vietnam a key player in the Asia-Pacific energy transition landscape.
๐๐ก๐๐ข๐ฅ๐๐ง๐: ๐๐ฉ๐ฉ๐จ๐ซ๐ญ๐ฎ๐ง๐ข๐ญ๐ข๐๐ฌ ๐ข๐ง ๐๐ซ๐๐๐ง ๐๐ง๐๐ซ๐ ๐ฒ ๐๐ง๐๐ซ๐๐ฌ๐ญ๐ซ๐ฎ๐๐ญ๐ฎ๐ซ๐
Thailand's energy transition market is driven by its ambitious renewable energy targets under the "Power Development Plan." Key players such as TotalEnergies and ENGIE are partnering with local firms to develop solar farms and wind projects. Thailand's focus on green hydrogen and smart grid technology presents significant opportunities for growth.
๐๐๐ฉ๐๐ง: ๐๐ซ๐๐ง๐๐ฌ ๐ข๐ง ๐๐๐ฏ๐๐ง๐๐๐ ๐๐ง๐๐ซ๐ ๐ฒ ๐๐ซ๐๐ง๐ฌ๐ข๐ญ๐ข๐จ๐ง ๐๐๐๐ก๐ง๐จ๐ฅ๐จ๐ ๐ข๐๐ฌ
Japan is a global leader in advanced energy transition technologies, particularly in hydrogen fuel cells and offshore wind energy. Companies like Mitsubishi Heavy Industries and Toyota are spearheading projects to reduce carbon emissions. Recent collaborations with European firms for hydrogen energy systems highlight Japan's forward-thinking approach in energy transition.
๐๐จ๐ฎ๐ญ๐ก ๐๐จ๐ซ๐๐: ๐๐จ๐ง๐ฌ๐จ๐ฅ๐ข๐๐๐ญ๐ข๐จ๐ง ๐ข๐ง ๐๐๐ง๐๐ฐ๐๐๐ฅ๐ ๐๐ง๐๐ซ๐ ๐ฒ ๐๐๐ซ๐ค๐๐ญ
South Korea's energy transition market is thriving, supported by its ambitious "Carbon Neutrality 2050" agenda. Companies like Hanwha Q Cells and Doosan Heavy Industries are leading renewable energy projects. Recent mergers and acquisitions in the offshore wind energy sector have strengthened South Korea's position as a key renewable energy player in the region.
๐๐ข๐ง๐ ๐๐ฉ๐จ๐ซ๐: ๐๐ง๐๐ซ๐ ๐ฒ ๐๐ซ๐๐ง๐ฌ๐ข๐ญ๐ข๐จ๐ง ๐๐๐ซ๐ค๐๐ญ ๐๐ฉ๐ฉ๐จ๐ซ๐ญ๐ฎ๐ง๐ข๐ญ๐ข๐๐ฌ ๐ข๐ง ๐๐ซ๐๐๐ง ๐๐ฎ๐ฌ๐ญ๐๐ข๐ง๐๐๐ข๐ฅ๐ข๐ญ๐ฒ
Singapore is leveraging its advanced infrastructure and smart city initiatives to drive energy transition. Companies like Sembcorp Industries and Sunseap Group are developing solar rooftops and floating solar farms. Recent government investments in energy storage systems and green hydrogen projects are creating significant opportunities for innovation and growth.
๐๐๐ ๐๐ซ ๐ญ๐จ ๐๐ข๐ฌ๐๐จ๐ฏ๐๐ซ ๐ฐ๐ก๐๐ญ'๐ฌ ๐ฐ๐ข๐ญ๐ก๐ข๐ง? ๐๐๐๐ฎ๐ซ๐ ๐ฒ๐จ๐ฎ๐ซ ๐ฌ๐๐ฆ๐ฉ๐ฅ๐ ๐๐จ๐ฉ๐ฒ ๐จ๐ ๐ญ๐ก๐ ๐ซ๐๐ฉ๐จ๐ซ๐ญ ๐ญ๐จ๐๐๐ฒ: https://www.maximizemarketresearch.com/request-sample/191270/
๐๐ง๐ข๐ญ๐๐ ๐๐ญ๐๐ญ๐๐ฌ: ๐๐ง๐๐ซ๐ ๐ฒ ๐๐ซ๐๐ง๐ฌ๐ข๐ญ๐ข๐จ๐ง ๐๐๐ซ๐ค๐๐ญ ๐๐ซ๐จ๐ฐ๐ญ๐ก ๐ข๐ง ๐๐๐ง๐๐ฐ๐๐๐ฅ๐ ๐๐ง๐ ๐๐ ๐๐๐๐ญ๐จ๐ซ๐ฌ
The US leads the global energy transition market, with strong investments in solar, wind, and electric vehicle infrastructure. Major players like NextEra Energy and Tesla are focusing on large-scale renewable energy projects and battery storage systems. Federal policies such as the Inflation Reduction Act are accelerating the energy transition across industries.
๐๐ฎ๐ซ๐จ๐ฉ๐: ๐๐ฉ๐๐๐ญ๐ข๐จ๐ง ๐ข๐ง ๐๐ง๐๐ซ๐ ๐ฒ ๐๐ซ๐๐ง๐ฌ๐ข๐ญ๐ข๐จ๐ง ๐๐๐ซ๐ค๐๐ญ ๐๐จ๐ฅ๐ข๐๐ข๐๐ฌ ๐๐ง๐ ๐๐ซ๐๐๐ญ๐ข๐๐๐ฌ
Europe remains at the forefront of the energy transition market, driven by stringent environmental regulations and aggressive renewable energy targets. Companies like Vestas Wind Systems and EDF Renewables are investing in cutting-edge technologies like offshore wind turbines and green hydrogen plants. Recent updates in the EU's "Fit for 55" plan underline Europe's leadership in global decarbonization efforts.
๐๐ง๐จ๐ฐ ๐๐จ๐ซ๐ ๐๐๐จ๐ฎ๐ญ ๐๐ก๐ ๐๐๐ฉ๐จ๐ซ๐ญ: https://www.maximizemarketresearch.com/request-sample/191270/
๐๐ง๐๐ซ๐ ๐ฒ ๐๐ซ๐๐ง๐ฌ๐ข๐ญ๐ข๐จ๐ง ๐๐๐ซ๐ค๐๐ญ ๐๐๐ ๐ฆ๐๐ง๐ญ๐๐ญ๐ข๐จ๐ง:
๐๐ฒ ๐๐ฒ๐ฉ๐
Renewable Energy
Wind Power
Solar Power
Bioenergy
Hydropower
Energy Efficiency
Electrification
Hydrogen
Others
The energy transition market is divided into five categories: renewable energy, energy efficiency, electrification, hydrogen, and others. In 2023, renewable energy led the energy transition market, and it is likely to continue to do so during the forecast period. Renewable energy comes from natural sources like sunlight and wind. Some of the primary sources of renewable energy are hydropower, solar, wind, geothermal, biofuel, and ocean power. Several factors influence the rising usage of renewable energy, the most significant of which being the link between global warming and carbon dioxide (CO2) emissions from fossil fuel combustion.
๐๐ฒ ๐๐ฉ๐ฉ๐ฅ๐ข๐๐๐ญ๐ข๐จ๐ง
Residential
Commercial
Utility Scale
Based on application, the energy transition market is divided into residential, commercial, and utility segments. In 2022, the residential segment led the energy transition market, and this trend is likely to continue during the forecast period. Several factors contribute to rising residential demand in the market, including an increase in demand for electric water heaters from water heating applications such as space heating, bathing, cleaning, cooking, and others, which is expected to drive the growth of the energy transition during the forecast period.
๐ ๐จ๐ซ ๐๐๐๐ฉ๐๐ซ ๐ฆ๐๐ซ๐ค๐๐ญ ๐ข๐ง๐ฌ๐ข๐ ๐ก๐ญ๐ฌ, ๐ฉ๐๐ซ๐ฎ๐ฌ๐ ๐ญ๐ก๐ ๐ฌ๐ฎ๐ฆ๐ฆ๐๐ซ๐ฒ ๐จ๐ ๐ญ๐ก๐ ๐ซ๐๐ฌ๐๐๐ซ๐๐ก ๐ซ๐๐ฉ๐จ๐ซ๐ญ: //www.maximizemarketresearch.com/market-report/energy-transition-market/191270/
๐๐ง๐๐ซ๐ ๐ฒ ๐๐ซ๐๐ง๐ฌ๐ข๐ญ๐ข๐จ๐ง ๐๐๐ซ๐ค๐๐ญ ๐๐๐ฒ ๐๐ฅ๐๐ฒ๐๐ซ๐ฌ:
1. Exelon Corporation
2. Duke Energy Corporation
3. Pacific Gas and Electric Company
4. Southern Company
5. American Electric Power
6. Edison International
7. Repsol
8. Brookfield Renewable Partners
9. Plug Power Inc.
10. Enphase
๐๐ก๐๐๐ค ๐จ๐ฎ๐ญ ๐จ๐ฎ๐ซ ๐ญ๐ซ๐๐ง๐๐ข๐ง๐ ๐ฌ๐ญ๐ฎ๐๐ข๐๐ฌ ๐ญ๐จ ๐ฎ๐ง๐๐๐ซ๐ฌ๐ญ๐๐ง๐ ๐ข๐ง๐๐ฎ๐ฌ๐ญ๐ซ๐ฒ ๐ฌ๐ก๐ข๐๐ญ๐ฌ:
Titanium Dioxide Market https://www.maximizemarketresearch.com/market-report/titanium-dioxide-market/126802/
Hydrogel Market https://www.maximizemarketresearch.com/market-report/global-hydrogel-market/30928/
Global Utility Terrain Vehicle Market https://www.maximizemarketresearch.com/market-report/global-utility-terrain-vehicle-market/62805/
System on Chip Market https://www.maximizemarketresearch.com/market-report/global-system-on-chip-market/33954/
Mobile Advertising Market https://www.maximizemarketresearch.com/market-report/mobile-advertising-market/47176/
FPV Drone Market https://www.maximizemarketresearch.com/market-report/fpv-drone-market/211053/
Engineering Services Outsourcing Market https://www.maximizemarketresearch.com/market-report/global-engineering-services-outsourcing-market/20898/
Global Automotive Power Sliding Door Market https://www.maximizemarketresearch.com/market-report/global-automotive-power-sliding-door-market/99008/
Global Wheeled Loading Shovel Market https://www.maximizemarketresearch.com/market-report/global-wheeled-loading-shovel-market/117312/
Flameproof Motors Market https://www.maximizemarketresearch.com/market-report/global-flameproof-motors-market/81905/
๐๐จ๐ง๐ญ๐๐๐ญ ๐๐๐ฑ๐ข๐ฆ๐ข๐ณ๐ ๐๐๐ซ๐ค๐๐ญ ๐๐๐ฌ๐๐๐ซ๐๐ก:
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๐๐๐จ๐ฎ๐ญ ๐๐๐ฑ๐ข๐ฆ๐ข๐ณ๐ ๐๐๐ซ๐ค๐๐ญ ๐๐๐ฌ๐๐๐ซ๐๐ก:
Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.
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