Market Size of Japan Renewable Energy Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | 3.55 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Japan Renewable Energy Market Analysis
Japan's renewable energy market size is expected to grow from 144.39 gigawatts in 2023 to 171.90 gigawatts by 2028, registering a CAGR of 3.55% during the forecast period (2023-2028).
- Over the long term, the growing demand for clean energy sources is expected to stimulate the market growth of Japan's renewable energy market. Furthermore, supportive government programs and advancements in renewable energy technologies are also expected to drive the market's growth.
- On the other hand, increasing penetration of natural gas for power generation is expected to restrain Japan's renewable energy market during the forecast period.
- Nevertheless, the technological advancements in solar PV manufacturing will likely create lucrative growth opportunities for the Japanese renewable energy market in the forecast period.
