The Turkey renewable energy market size is anticipated to register a considerable CAGR during the forecast period, 2021–2028. 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.
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 |
2020 |
Historic Data |
2018–2019 |
Forecast Period |
2021–2028 |
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. |
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 Covered in the Report
The Turkey renewable energy market has been segmented on the basis of
Types
Country
Key Players
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.
Segments Covered in the Report
The Turkey renewable energy market has been segmented on the basis of
Types
Country
Key Players
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.
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