Romania Renewable Energy Market Share & Opportunities | 2031
Romania Renewable Energy Market Share & Opportunities | 2031
Segments - Romania Renewable Energy Market by End-users (Commercial, Industrial, Residential, and Others), Types (Wind Power, Bioenergy, Solar Energy, Hydroelectric Power, and Geothermal Energy), and Country - Industry Analysis, Growth, Share, Size, Trends, and Forecast 2023 – 2031
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| Report ID :EP-3922
| 4.8 Rating
| 56 Reviews
| 199 Pages
| Format :
Report Description
The Romania 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 3.1% during 2023–2031. The growth of the market is attributed to the rising government’s policy to fulfil massive electricity demand and development of renewable source of energy in order to reduce reliance on fossil fuels.
Renewable energy is derived from natural resources to produce electric energy from kinetic energy on a regular basis. For instance, wind energy, bioenergy, and solar energy are major types of renewable energy. In wind-based energy, wind turbines are used to convert wind energy to mechanical energy, which is then transformed to electrical energy by a generator. Moreover, renewable energy is booming due to technical advancements that are dropping prices and delivering the potential of a clean energy future. It is feasible to develop greener alternatives to carbon-based energy sources and contribute to achieve world's sustainable development targets by 2030. Although there have been no big increases in both solar and wind projects since 2016, causing the growth of renewable energy to stagnant in 2020.
The COVID-19 pandemic had a huge negative impact on Romania as the government enacted stringent nationwide lockdowns across the country to combat the spread of coronavirus. The majority of the industries were affected by the lockdowns; among them, the tourist and hospitality industry was affected the most. The demand for electricity in the industrial and commercial sectors has decreased dramatically as a result of the countrywide shutdowns. Reduced power consumption caused significant drop in income for the country's major electrical utilities and to alleviate their financial burden. As a result, organizations associated with utilities services have also resorted to mass layoffs to minimize the cost and stay survive.
Romania Renewable Energy Market Trends, Drivers, Restraints, and Opportunities
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Increasing demand to reduce carbon footprints, impacted by the international and regional pressure from several non-government organizations drives the market.
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Encouraging government policies and its series of energy subsidies is a key factor propelling the market.
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Advancement of technologies for the development of renewable energy is expected to boost the market in the coming years.
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Lack of sustainable projects and limited land areas are major challenges that can hamper the market expansion during the forecast period.
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Upcoming renewable energy projects with the support from various public agencies are likely to create lucrative opportunities for the market expansion during the forecast period.
Scope of Romania Renewable Energy Market Report
The report on the Romania renewable energy market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes |
Details |
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Report Title |
Renewable Energy Market - Romania Industry Analysis, Growth, Share, Size, Trends, and Forecast |
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Base Year |
2022 |
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Historic Data |
2016–2021 |
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Forecast Period |
2023–2031 |
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Segmentation |
End-users (Commercial, Industrial, Residential, and Others), and Types (Wind Power, Bioenergy, Solar Energy, Hydroelectric Power, and Geothermal Energy) |
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Country |
Romania |
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Report Coverage |
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast |
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Key Players Covered in the Report |
Siemens Gamesa Renewable Energy SA; CEZ AS; General Electric Company; Energias de Portugal SA; and Enel SpA. |
Romania Renewable Energy Market Segment Insights
Residential segment to expand at a considerable CAGR
On the basis of end-users, the Romania renewable energy market is segmented into commercial, industrial, residential, and others. The residential segment is projected to expand at a considerable CAGR during the forecast period due to the rising energy consumption in residential areas. On the other hand, the industrial segment is anticipated to account for a major market share during the forecast period as to massive demand for energy from several industries for their business operations.
Hydroelectric power segment to hold a significant share of the market
In terms of types, the market is divided into wind power, bioenergy, solar energy, hydroelectric power, and geothermal energy. The hydroelectric power segment is expected to hold a significant share of the market ascribed to rising demand for off-grid energy generation and rural electrification across the states of Romania. However, the wind power segment accounts for a significant market share in the coming years due to the consistent projects to establish energy sources using wind flow at on shore and off shore.
Segments
The Romania renewable energy market has been segmented on the basis of
End-users
- Commercial
- Industrial
- Residential
- Others
Types
- Wind Power
- Bioenergy
- Solar Energy
- Hydroelectric Power
- Geothermal Energy
Country
- Romania
Key Players
- Siemens Gamesa Renewable Energy SA
- CEZ AS
- General Electric Company
- Energias de Portugal SA
- Enel SpA
Competitive Landscape
Key players competing in the Romania renewable energy market are Siemens Gamesa Renewable Energy SA; CEZ AS; General Electric Company; Energias de Portugal SA; and Enel SpA. The mergers and acquisitions of the companies have huge impact on increasing number of transactions involving assets, and representing renewable energy generation capacities. Fantanele-Cogealac Wind Farm, one of the Europe's largest wind farms, had installed a farm having a capacity of 600MW in Constanta County, Romania in December 2012. It aimed to produce roughly 10% of total renewable energy generation and help to meet the renewable energy goal in 2014.
Table Of Content
1. Executive Summary2. 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 (000’ 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 Power
5.3.2. Bioenergy
5.3.3. Solar Energy
5.3.4. Hydroelectric Power
5.3.5. Geothermal Energy
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 Power
7.4.2. Bioenergy
7.4.3. Solar Energy
7.4.4. Hydroelectric Power
7.4.5. Geothermal Energy
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 Power
8.4.2. Bioenergy
8.4.3. Solar Energy
8.4.4. Hydroelectric Power
8.4.5. Geothermal Energy
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 Power
9.4.2. Bioenergy
9.4.3. Solar Energy
9.4.4. Hydroelectric Power
9.4.5. Geothermal Energy
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 Power
10.4.2. Bioenergy
10.4.3. Solar Energy
10.4.4. Hydroelectric Power
10.4.5. Geothermal Energy
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 Power
11.4.2. Bioenergy
11.4.3. Solar Energy
11.4.4. Hydroelectric Power
11.4.5. Geothermal Energy
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. Siemens Gamesa Renewable Energy SA
12.4.2. CEZ AS
12.4.3. General Electric Company
12.4.4. Energias de Portugal SA
12.4.5. Enel SpA
Methodology
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