Canada Renewable Energy Market Size & Share Analysis - Growth Trends & Forecasts (2025 - 2030)

The report covers Canada Renewable Energy Companies and it is segmented by Type (Hydro Energy, Wind Energy, Solar Energy, Bioenergy, Tidal Energy) and End User (Residential, Commercial and Industrial, and Transportation).

Canada Renewable Energy Market Size & Share Analysis - Growth Trends & Forecasts (2025 - 2030)

Canada Renewable Energy Market Size

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Canada Renewable Energy Market Summary
Study Period 2020 - 2030
Base Year For Estimation 2024
Forecast Data Period 2025 - 2030
Historical Data Period 2020 - 2023
CAGR 9.00 %
Market Concentration Low

Major Players

Canada Renewable Energy Market Major Players

*Disclaimer: Major Players sorted in no particular order

Compare market size and growth of Canada Renewable Energy Market with other markets in Energy & Power Industry

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Canada Renewable Energy Market Analysis

The Canada Renewable Energy Market is expected to register a CAGR of greater than 9% during the forecast period.

  • The wind energy segment is expected to witness significant growth during the forecast period due to the several upcoming wind power projects in the country.
  • The Canadian government pledged to phase out coal in the coming years, creating ample opportunities for deeper penetration of renewables in the energy sector. In 2021, the Ministry of Environment and Climate Change implemented a plan to phase out coal-fired electricity by 2030 and achieve carbon neutrality by 2050.
  • The tremendously high government support for renewables-based power generation is expected to bolster the market's growth in the future.

Canada Renewable Energy Industry Overview

The Canadian renewable energy market is fragmented. Some of the key players include Canadian Solar Inc., Electricite de France SA (EDF Renewables), Engie SA, Siemens Gamesa Renewable Energy SA, and Vestas Wind Systems AS.

Canada Renewable Energy Market Leaders

  1. Canadian Solar Inc.

  2. Electricite de France SA (EDF Renewables)

  3. Engie SA

  4. Siemens Gamesa Renewable Energy SA

  5. Vestas Wind Systems AS

  6. *Disclaimer: Major Players sorted in no particular order
Canada Renewable Energy Market Concentration
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Canada Renewable Energy Market News

  • In January 2022, Canada planned a new utility-scale solar power project, Fox Coulee Solar Project, in Alberta. The 85.6-MW solar PV power project will be developed by two companies, Aura Power Developments and Subra GP, in a single phase. Its construction will be started in 2022 and is expected to be in service by 2023.
  • In April 2021, Canadian bakery products company Bimbo Canada entered two VPPAs (Virtual Power Purchase Agreements) with RES Canada to buy power from two upcoming wind and solar power plants in the country. The two 15-year VPPAs will deliver 50 MW of electricity for the company's 16 bakeries, 14 distribution centers, and 191 depots. The power plants will be operational by the end of 2022.

Canada Renewable Energy Market Report - Table of Contents

1. INTRODUCTION

  • 1.1 Scope of the Study
  • 1.2 Market Definition
  • 1.3 Study Assumptions

2. RESEARCH METHODOLOGY

3. EXECUTIVE SUMMARY

4. MARKET OVERVIEW

  • 4.1 Introduction
  • 4.2 Market Size and Demand Forecast in USD billion, till 2027
  • 4.3 Recent Trends and Developments
  • 4.4 Government Policies and Regulations
  • 4.5 Market Dynamics
    • 4.5.1 Drivers
    • 4.5.2 Restraints
  • 4.6 Supply Chain Analysis
  • 4.7 PESTLE Analysis

5. MARKET SEGMENTATION

  • 5.1 Type
    • 5.1.1 Hydro Energy
    • 5.1.2 Wind Energy
    • 5.1.3 Solar Energy
    • 5.1.4 Bioenergy
    • 5.1.5 Tidal Energy
  • 5.2 End User
    • 5.2.1 Residential
    • 5.2.2 Commercial and Industrial
    • 5.2.3 Transportation

6. COMPETITIVE LANDSCAPE

  • 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
  • 6.2 Strategies Adopted by Leading Players
  • 6.3 Company Profiles
    • 6.3.1 Canadian Solar Inc.
    • 6.3.2 Electricite de France SA (EDF Renewables)
    • 6.3.3 Engie SA
    • 6.3.4 Siemens Gamesa Renewable Energy SA
    • 6.3.5 Vestas Wind Systems AS
    • 6.3.6 Acciona SA
    • 6.3.7 EDP Renovaveis SA
    • 6.3.8 Enel SpA
    • 6.3.9 IOGEN Corporation
    • 6.3.10 Bio-EnPower Inc.
  • *List Not Exhaustive

7. MARKET OPPORTUNITIES AND FUTURE TRENDS

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Canada Renewable Energy Industry Segmentation

The scope of the Canadian renewable energy market report includes:

Type Hydro Energy
Wind Energy
Solar Energy
Bioenergy
Tidal Energy
End User Residential
Commercial and Industrial
Transportation
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Canada Renewable Energy Market Research FAQs

What is the current Canada Renewable Energy Market size?

The Canada Renewable Energy Market is projected to register a CAGR of greater than 9% during the forecast period (2025-2030)

Who are the key players in Canada Renewable Energy Market?

Canadian Solar Inc., Electricite de France SA (EDF Renewables), Engie SA, Siemens Gamesa Renewable Energy SA and Vestas Wind Systems AS are the major companies operating in the Canada Renewable Energy Market.

What years does this Canada Renewable Energy Market cover?

The report covers the Canada Renewable Energy Market historical market size for years: 2020, 2021, 2022, 2023 and 2024. The report also forecasts the Canada Renewable Energy Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.

Canada Renewable Energy Industry Report

The renewable energy market in Canada is set for remarkable growth, driven by government policies and the rise of zero-energy buildings. With Canadian renewable energy companies leading the charge, focusing on hydropower, wind, and other sources, the market is expanding notably in both industrial and residential sectors. Government incentives and the shift towards zero-energy buildings are propelling the demand for renewable solutions, emphasizing Canada's commitment to sustainable practices. Globally, the energy market is shifting towards more sustainable options, supported by decreasing costs and technological advancements in renewable energy. Despite challenges from fossil fuels and a centralized electricity sector, the future looks bright for renewable energy in Canada, offering vast opportunities for growth and innovation. Canadian companies are crucial to the global transition towards sustainable energy, highlighting the importance of renewable energy in Canada's landscape. For detailed market insights, Mordor Intelligence™ provides statistics on Canada's renewable energy market share, size, and growth rate, including a forecast outlook and historical overview. Get a sample of this industry analysis as a free report PDF download.