Market Size of Southeast Asia Renewable Energy Industry
| Study Period | 2024 - 2029 |
| Base Year For Estimation | 2023 |
| Market Volume (2024) | 116.02 gigawatt |
| Market Volume (2029) | 165.97 gigawatt |
| CAGR (2024 - 2029) | 7.40 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Southeast Asia Renewable Energy Market Analysis
The Southeast Asia Renewable Energy Market size in terms of installed base is expected to grow from 116.02 gigawatt in 2024 to 165.97 gigawatt by 2029, at a CAGR of 7.40% during the forecast period (2024-2029).
- Coal-fired power generation is the dominant form of power generation in Southeast Asia. However, renewable power generation and battery costs registered a significant decline in recent years, combined with the drying up of the finances for coal-fired power plants. This is expected to drive the renewable energy sector in Southeast Asia during the forecast period.
- However, the lack of international companies' investments and the delay in the practical deployment of projects are expected to hinder the market's growth.
- The Southeast Asian region has insufficient indigenous fossil fuel resources to meet its growing energy demand, thus creating significant opportunities for renewable energy installations, which can then solve the region's ever-increasing energy demand.
- Vietnam has a high potential for renewable energy, thus creating its dominance in the region's renewable energy market during the forecast period.
