Market Size of Belarus Renewable Energy Industry
| Study Period | 2021 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2021 - 2022 |
| CAGR | > 18.00 % |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Belarus Renewable Energy Market Analysis
The Belarusian renewable energy market is expected to register a CAGR of over 18% during the forecast period.
The market was negatively impacted by COVID-19. Presently the market has now reached pre-pandemic levels.
- Factors, such as targets set by the country to reduce the carbon footprint and significantly declining prices of renewable energy installations, are likely to drive the Belarusian renewable energy market. Increasing renewable energy installed capacity and upcoming projects in the country, are likely to drive the Belarusian renewable energy market over the forecast period.
- However, the long investment return period is expected to restrain the Belarusian renewable energy market.
- The Belarusian government has set a target of getting 10% of the total power generation from renewable energy by 2030, thus, decreasing greenhouse gas emissions by 25% to 30% compared to 1990. This is likely to create several opportunities for the Belarusian renewable energy market in the future.
