New Zealand Renewable Energy Market Share & Forecast | 2031

Segments - New Zealand Renewable Energy Market by Types [Wind, Geothermal, Solar, Hydro, and Other Types], End-users [Residential, Industrial, Commercial, and Others], and Geography [New Zealand]-Industry Analysis, Growth, Share, Size, Trends, and Forecast 2023 – 2031

Author : Raksha Sharma

Fact-checked by : Vineet Pandey

Editor : Swapnil Hedau

Report Description

The New Zealand renewable energy market size was USD XX Billion in 2022 and is likely to reach USD XX Billion by 2031, expanding at a CAGR of 8.5% during 2023–2031. Growth of the market is attributed to increase in energy consumption, traditional power sources unable to meet requirement, and supportive government policies and upcoming projects are having good impact on the market.

A renewable energy can be constantly supplied to tides, waves, rain, and wind. While renewable energy is commonly thought of as a replacement technology and nature’s power has been used for transportation, lighting, heating, and more. Now that people got progressively innovative and less-expensive ways to capture and retain wind and solar energy, renewables are getting an additional necessary power supply.

New Zealand Renewable Energy Market Outlook

The Covid-19 pandemic affected the demand and supply of the New Zealand renewable energy market. Lockdown across the globe, supply chain disorders, and oscillating supply of raw materials forced manufacturers to shut down production leading to unfortunate decline in market growth. Launch of vaccines to combat the Covid-19 pandemic is expected to contribute to the market growth over the forecast period.

New Zealand Renewable Energy Market Trends, Drivers, Restraints, and Opportunities

Increase in consumer purchasing capacity and frequently growing population is projected to boost the market.
Rapid growth in renewable energy manufactures and rapidly growing production capacity is key factor fueling the market during the forecast period.
Increasing price of the fuel and energy is major factor that driving renewable energy market in the coming years.
High price and high maintenances cost are anticipated to restrict market growth during the forecast period.
Lack of awareness about renewable energy possesses a main challenge that can hamper the market expansion in the coming years.
R&D investment and technological advancement in renewable energy market is projected to create lucrative opportunities for the market players.

Scope of New Zealand Renewable Energy Market Report

The report on the New Zealand renewable energy market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Attributes	Details
Report Title	New Zealand renewable energy Market -Industry Analysis, Growth, Share, Size, Trends, and Forecast
Base Year	2022
Historic Data	2016-2021
Forecast Period	2023-2031
Segmentation	Types [Wind, Geothermal, Solar, Hydro, and Other Types], End-users [Residential, Industrial, Commercial, and Others]
Country	New Zealand
Report Coverage	Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
Key Players covered in the Report	Meridian Energy Limited, Tilt Renewables, Genesis Energy L.P., Vestas Wind Systems A/S, GCL System Integration Technology, General Electric Company, Mercury NZ Limited, Contact Energy Limited, Vector Ltd, First Solar Inc., Risen Energy, Siemens Gamesa Renewable Energy SA, General Electric Company, Watercare, and Hanwha Q Cells Co. Ltd.

New Zealand Renewable Energy Market Segment Insights

The wind energy segment is projected to grow as major source of energy in the market

On the basis of types, the New Zealand renewable energy market is segmented into wind, geothermal, solar, hydro, and other types. The wind energy segment is projected to grow as major source of energy in the market due to factors such as increasing population, rising disposable income, and government policies. However, the solar energy segment is growing at rapid pace owing to increased energy consumption, rapid development in renewable energy sector, and traditional power sources are unable to meet requirement.

New Zealand Renewable Energy Market Types

The industrial segment accounts for key share in the market and expected to grow at a rapid pace

Based on end-users, the New Zealand renewable energy market is divided into residential, industrial, commercial, and others. The industrial segment accounts for a key share of the market. Growth of the market is attributed to increasing energy consumption and frequently growing population. However, the residential segment is anticipated to expand at a rapid pace during the forecast period owing to supportive government policies and upcoming projects, cost effective solution for energy generation, and rising environmental awareness.

New Zealand Renewable Energy Market End Users

Regional outlook

In the New Zealand renewable energy market 82.4% energy comes from renewable energy. The utmost large-scale development in the New Zealand renewable energy market in the coming years is the Castle Hill Wind Farm. It has tendency to manufacture the 286 wind turbines with a size equal to 860 MW, which would deliver plenty electricity to supply around 370,000 households. Growth of the market is attributed to increase in energy consumption, continually growing population, cost effective solution for energy generation, and rising environmental awareness.

Segments

The New Zealand renewable energy market has been segmented on the basis of

Types

Wind
Geothermal
Solar
Hydro
Other Types

End-users

Residential
Industrial
Commercial
Others

Geography

New Zealand

Key Players

Meridian Energy Limited
Tilt Renewables
Genesis Energy L.P.
Vestas Wind Systems A/S
GCL System Integration Technology
General Electric Company
Mercury NZ Limited
Contact Energy Limited
Vector Ltd
First Solar Inc.
Risen Energy
Siemens Gamesa Renewable Energy SA
General Electric Company
Watercare
Hanwha Q Cells Co. Ltd.

Competitive Landscape

Key players competing in the New Zealand renewable energy market include Meridian Energy Limited, Tilt Renewables, Genesis Energy L.P., Vestas Wind Systems A/S, GCL System Integration Technology, General Electric Company, Mercury NZ Limited, Contact Energy Limited, Vector Ltd, First Solar Inc., Risen Energy, Siemens Gamesa Renewable Energy SA, General Electric Company, Watercare, and Hanwha Q Cells Co. Ltd.

Some of these players are using several market strategies such as acquisitions, merger, collaborations, partnerships, capacity expansion, and product launches to enhance their market shares and to generate revenue and raise their production line of the business in the coming years.

New Zealand Renewable Energy Market Key Players

Table Of Content

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Renewable Energy Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. Renewable Energy Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. Renewable Energy Market - Supply Chain
  4.5. Global Renewable Energy Market Forecast
     4.5.1. Renewable Energy Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Renewable Energy Market Size (000â€™ Units) and Y-o-Y Growth
     4.5.3. Renewable Energy Market Absolute $ Opportunity
5. Global Renewable Energy Market Analysis and Forecast by Types
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by Types
     5.2.2. Y-o-Y Growth Projections by Types
  5.3. Renewable Energy Market Size and Volume Forecast by Types
     5.3.1. Wind
     5.3.2. Geothermal
     5.3.3. Solar
     5.3.4. Hydro
     5.3.5. Other Types
  5.4. Absolute $ Opportunity Assessment by Types
  5.5. Market Attractiveness/Growth Potential Analysis by Types
6. Global Renewable Energy Market Analysis and Forecast by Region
  6.1. Market Trends
  6.2. Introduction
     6.2.1. Basis Point Share (BPS) Analysis by Region
     6.2.2. Y-o-Y Growth Projections by Region
  6.3. Renewable Energy Market Size and Volume Forecast by Region
     6.3.1. North America
     6.3.2. Latin America
     6.3.3. Europe
     6.3.4. Asia Pacific
     6.3.5. Middle East and Africa (MEA)
  6.4. Absolute $ Opportunity Assessment by Region
  6.5. Market Attractiveness/Growth Potential Analysis by Region
  6.6. Global Renewable Energy Demand Share Forecast, 2019-2026
7. North America Renewable Energy Market Analysis and Forecast
  7.1. Introduction
     7.1.1. Basis Point Share (BPS) Analysis by Country
     7.1.2. Y-o-Y Growth Projections by Country
  7.2. North America Renewable Energy Market Size and Volume Forecast by Country
     7.2.1. U.S.
     7.2.2. Canada
  7.3. Absolute $ Opportunity Assessment by Country
  7.4. North America Renewable Energy Market Size and Volume Forecast by Types
     7.4.1. Wind
     7.4.2. Geothermal
     7.4.3. Solar
     7.4.4. Hydro
     7.4.5. Other Types
  7.5. Basis Point Share (BPS) Analysis by Types
  7.6. Y-o-Y Growth Projections by Types
  7.7. Market Attractiveness/Growth Potential Analysis
     7.7.1. By Country
     7.7.2. By Product Type
     7.7.3. By Application
  7.8. North America Renewable Energy Demand Share Forecast, 2019-2026
8. Latin America Renewable Energy Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
     8.1.3. Latin America Average Pricing Analysis
  8.2. Latin America Renewable Energy Market Size and Volume Forecast by Country
      8.2.1. Brazil
      8.2.2. Mexico
      8.2.3. Rest of Latin America
   8.3. Absolute $ Opportunity Assessment by Country
  8.4. Latin America Renewable Energy Market Size and Volume Forecast by Types
     8.4.1. Wind
     8.4.2. Geothermal
     8.4.3. Solar
     8.4.4. Hydro
     8.4.5. Other Types
  8.5. Basis Point Share (BPS) Analysis by Types
  8.6. Y-o-Y Growth Projections by Types
  8.7. Market Attractiveness/Growth Potential Analysis
     8.7.1. By Country
     8.7.2. By Product Type
     8.7.3. By Application
  8.8. Latin America Renewable Energy Demand Share Forecast, 2019-2026
9. Europe Renewable Energy Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Europe Average Pricing Analysis
  9.2. Europe Renewable Energy Market Size and Volume Forecast by Country
     9.2.1. Germany
     9.2.2. France
     9.2.3. Italy
     9.2.4. U.K.
     9.2.5. Spain
     9.2.6. Russia
     9.2.7. Rest of Europe
  9.3. Absolute $ Opportunity Assessment by Country
  9.4. Europe Renewable Energy Market Size and Volume Forecast by Types
     9.4.1. Wind
     9.4.2. Geothermal
     9.4.3. Solar
     9.4.4. Hydro
     9.4.5. Other Types
  9.5. Basis Point Share (BPS) Analysis by Types
  9.6. Y-o-Y Growth Projections by Types
  9.7. Market Attractiveness/Growth Potential Analysis
     9.7.1. By Country
     9.7.2. By Product Type
     9.7.3. By Application
  9.8. Europe Renewable Energy Demand Share Forecast, 2019-2026
10. Asia Pacific Renewable Energy Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Asia Pacific Average Pricing Analysis
  10.2. Asia Pacific Renewable Energy Market Size and Volume Forecast by Country
     10.2.1. China
     10.2.2. Japan
     10.2.3. South Korea
     10.2.4. India
     10.2.5. Australia
     10.2.6. Rest of Asia Pacific (APAC)
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Asia Pacific Renewable Energy Market Size and Volume Forecast by Types
     10.4.1. Wind
     10.4.2. Geothermal
     10.4.3. Solar
     10.4.4. Hydro
     10.4.5. Other Types
  10.5. Basis Point Share (BPS) Analysis by Types
  10.6. Y-o-Y Growth Projections by Types
  10.7. Market Attractiveness/Growth Potential Analysis
     10.7.1. By Country
     10.7.2. By Product Type
     10.7.3. By Application
  10.8. Asia Pacific Renewable Energy Demand Share Forecast, 2019-2026
11. Middle East & Africa Renewable Energy Market Analysis and Forecast
  11.1. Introduction
     11.1.1. Basis Point Share (BPS) Analysis by Country
     11.1.2. Y-o-Y Growth Projections by Country
     11.1.3. Middle East & Africa Average Pricing Analysis
  11.2. Middle East & Africa Renewable Energy Market Size and Volume Forecast by Country
     11.2.1. Saudi Arabia
     11.2.2. South Africa
     11.2.3. UAE
     11.2.4. Rest of Middle East & Africa (MEA)
  11.3. Absolute $ Opportunity Assessment by Country
  11.4. Middle East & Africa Renewable Energy Market Size and Volume Forecast by Types
     11.4.1. Wind
     11.4.2. Geothermal
     11.4.3. Solar
     11.4.4. Hydro
     11.4.5. Other Types
  11.5. Basis Point Share (BPS) Analysis by Types
  11.6. Y-o-Y Growth Projections by Types
  11.7. Market Attractiveness/Growth Potential Analysis
     11.7.1. By Country
     11.7.2. By Product Type
     11.7.3. By Application
  11.8. Middle East & Africa Renewable Energy Demand Share Forecast, 2019-2026
12. Competition Landscape
  12.1. Global Renewable Energy Market: Market Share Analysis
  12.2. Renewable Energy Distributors and Customers
  12.3. Renewable Energy Market: Competitive Dashboard
  12.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     12.4.1. Meridian Energy Limited
     12.4.2. Tilt Renewables
     12.4.3. Genesis Energy L.P.
     12.4.4. Vestas Wind Systems A/S
     12.4.5. GCL System Integration Technology
     12.4.6. General Electric Company