Market Size of Australia Renewable Energy Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Market Volume (2024) | 51.41 gigawatt |
| Market Volume (2029) | 89.03 gigawatt |
| CAGR (2024 - 2029) | 11.61 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Australia Renewable Energy Market Analysis
The Australia Renewable Energy Market size in terms of installed base is expected to grow from 51.41 gigawatt in 2024 to 89.03 gigawatt by 2029, at a CAGR of 11.61% during the forecast period (2024-2029).
- Over the medium term, the prominent factors driving the growth are the issues related to elevated grid electricity prices and increasing investments in renewable energy generation in the country.
- On the other hand, the market's growth is expected to be hampered by factors like integrating renewables into the main electricity grid, which involves more challenges than installing them in the distributed form.
- Nevertheless, coal-fired power stations, which form a major part of the country's electricity generation, are aging and will retire after a certain period. They will not serve the country in the long run, which creates ample opportunity for the renewable energy market players to carve out a significant place in the power generation mix.
