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Turkey Renewable Energy Market Share & Opportunities | 2031

Turkey Renewable Energy Market

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Segments - by Types (Hydro, Wind, Solar, Geothermal, and Others) and Country - Industry Analysis, Growth, Share, Size, Trends, and Forecast 2023 – 2031

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Author :

Aamir Ansari

Fact-checked by :

Vineet Pandey

Editor :

Swapnil Hedau

Report Description

The Turkey 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 4.9% during 2023–2031. The growth of the market is attributed to the rising government initiatives to limit dependence on fossil fuels and adoption low-cost and sustainable energy sources.

Renewable energy generation requires carbon neutral sources such as sunlight, wind, rain, tides, and geothermal heat. These types of energy sources stand in contrast to fossil fuels, as they can be replenished for lifetime. Although most renewable energy generation sources; however, some of them are not, such as biomass.

Renewable energy can be used for electricity generation, air & water heating/cooling, transportation, and rural off-grid energy services. While renewable energy is often considered as a new technology, harnessing renewable power has not been new for humankind. For instance, wind power boats to sail the seas and windmills to grind grain.

Increasing innovation and rising number of inexpensive ways to capture & retain wind and solar energy has encouraged companies to enter in the renewable energy market. The expansion in renewables at small- and large-scale is driving the market growth. Homeowners are installing rooftop solar panels and are selling unused power back to the grid to giant offshore wind farms. Even some entire rural communities are relying on renewable energy for heating and lighting.

Turkey Renewable Energy Market Trends, Drivers, Restraints, and Opportunities

Increasing potential of wind energy is expected to create significant opportunities for the wind farm operators and developers in the projected timeline.
Rising energy consumption is projected to boost the market growth during the forecast period.
Growing demand for energy coupled with supportive government policies is driving the renewable energy market, encouraging industry players to invest in the market.
Rising share of renewable energy in the power generation sector is projected to spur the market growth in the coming years.
The COVID-19 pandemic had negatively impacted the renewable energy market owing to delayed projects. However, the market is anticipated to recover soon owing to declining cases. Moreover, the stimulus provided by government state bodies is expected to proliferate the growth of the market.
Lack of proper grid infrastructure to integrate renewable energy sources is expected to hinder the market growth during the forecast period.
Rising number of government bodies to encourage foreign investors in Turkey is speculated to proliferate the growth of the market in the projected timeline.
Increasing R&D investments and ongoing technological advancement can create huge potential in the Turkey renewable energy market. This, in turn, is expected to create significant opportunities for new entrants and emerging players in the market.

Scope of Turkey Renewable Energy Market Report

The report on the Turkey 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	Turkey Renewable Energy Market - Industry Analysis, Growth, Share, Size, Trends, and Forecast
Base Year	2022
Historic Data	2016–2021
Forecast Period	2023–2031
Segmentation	Types (Hydro, Wind, Solar, Geothermal, and Others)
Geographic Zone	Turkey
Report Coverage	Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
Key Players Covered in the Report	IC Ictas Energy Investment Holding; Statkraft AS; Poyry Plc.; Sanko Enerji; and JinkoSolar Holding Co. Ltd.

Turkey Renewable Energy Market Segment Insights

Hydro segment is projected to account for a large market share

On the basis of types, the Turkey renewable energy market is segmented into hydro, wind, solar, geothermal, and others. The hydro segment is expected to hold a key market share during the forecast period owing to declining dependence on fossil fuels, and increasing large-scale investments from the major industry players. Hydropower segment accounted for more than 50% of the total renewable energy installed capacity in Turkey in 2020.

The solar segment is anticipated to exhibit a high CAGR during the forecast period. Increasing awareness about the solar energy systems and declining cost of installation and maintenance of the solar energy grid systems are driving the segment growth. On the other hand, the growing number of government initiatives to deploy large-scale projects to shift the energy generation burden on renewable energy systems is further propelling the growth of the market segment.

Segments

The Turkey renewable energy market has been segmented on the basis of

Types

Hydro
Wind, Solar
Geothermal
Others

Country

Turkey

Key Players

IC Ictas Energy Investment Holding;
Statkraft AS
Poyry Plc.
Sanko Enerji
JinkoSolar Holding Co. Ltd.

Competitive Landscape

Key players competing in the Turkey renewable energy market include IC Ictas Energy Investment Holding, Statkraft AS, Poyry Plc., Sanko Enerji, and JinkoSolar Holding Co. Ltd.

Industry players are engaging in partnerships, acquisitions, and mergers to expand their market share.

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. Hydro
     5.3.2. Wind, Solar
     5.3.3. Geothermal
     5.3.4. Others
  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. Hydro
     7.4.2. Wind, Solar
     7.4.3. Geothermal
     7.4.4. Others
  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. Hydro
     8.4.2. Wind, Solar
     8.4.3. Geothermal
     8.4.4. Others
  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. Hydro
     9.4.2. Wind, Solar
     9.4.3. Geothermal
     9.4.4. Others
  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. Hydro
     10.4.2. Wind, Solar
     10.4.3. Geothermal
     10.4.4. Others
  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. Hydro
     11.4.2. Wind, Solar
     11.4.3. Geothermal
     11.4.4. Others
  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. IC Ictas Energy Investment Holding;
     12.4.2. Statkraft AS
     12.4.3. Poyry Plc.
     12.4.4. Sanko Enerji
     12.4.5. JinkoSolar Holding Co. Ltd.

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