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According to the latest research report released by Technavio, an international market research institution, the global clean energy technology market will increase by 1219.
51 GW from 2019 to 2023, with solar, wind and hydropower accounting for the main increase
.
Due to rapid urbanization and industrialization, the global demand for energy is rising, increasing the use of
fossil fuels.
However, the overuse of fossil fuels leads to increased emissions of carbon dioxide gas, resulting in environmental pollution
.
As a result, there is a growing demand for clean energy as it will help reduce carbon emissions, and these clean energy technologies allow electricity
to be generated from natural resources in an environmentally sustainable way.
The growing demand for clean energy will increase the adoption of clean energy technologies, thereby increasing the growth prospects
of the market.
In addition, clean coal technology is a clean energy technology used to reduce the environmental impact of coal-fired power generation and mitigate climate challenges
.
Because clean coal technology ensures ultra-high efficiency, it is widely used
in the power generation industry.
The growing popularity of clean coal technology can also be attributed to its ability to
reduce CO2 emissions from coal-fired power generation.
These factors will increase the adoption of clean coal technologies and are expected to drive the global clean energy technologies market to grow
at a CAGR of more than 5% during the forecast period.
In terms of market segments, the hydropower technology segment had the largest clean energy technology market share in 2018 due to its ability to provide electricity
based on demand as well as current or seasonal weather conditions.
Although the market share of this segment will decline in the coming years, it will continue to dominate the market in the
next five years.
Regionally, Asia Pacific was the largest clean energy technology market
in 2018.
Asia-Pacific's contribution to the growth of clean energy technology market size will increase during the forecast period due to the increasing
need to curb CO2 emissions from the region.
According to the latest research report released by Technavio, an international market research institution, the global clean energy technology market will increase by 1219.
51 GW from 2019 to 2023, with solar, wind and hydropower accounting for the main increase
.
Due to rapid urbanization and industrialization, the global demand for energy is rising, increasing the use of
fossil fuels.
However, the overuse of fossil fuels leads to increased emissions of carbon dioxide gas, resulting in environmental pollution
.
As a result, there is a growing demand for clean energy as it will help reduce carbon emissions, and these clean energy technologies allow electricity
to be generated from natural resources in an environmentally sustainable way.
The growing demand for clean energy will increase the adoption of clean energy technologies, thereby increasing the growth prospects
of the market.
In addition, clean coal technology is a clean energy technology used to reduce the environmental impact of coal-fired power generation and mitigate climate challenges
.
Because clean coal technology ensures ultra-high efficiency, it is widely used
in the power generation industry.
The growing popularity of clean coal technology can also be attributed to its ability to
reduce CO2 emissions from coal-fired power generation.
These factors will increase the adoption of clean coal technologies and are expected to drive the global clean energy technologies market to grow
at a CAGR of more than 5% during the forecast period.
In terms of market segments, the hydropower technology segment had the largest clean energy technology market share in 2018 due to its ability to provide electricity
based on demand as well as current or seasonal weather conditions.
Although the market share of this segment will decline in the coming years, it will continue to dominate the market in the
next five years.
Regionally, Asia Pacific was the largest clean energy technology market
in 2018.
Asia-Pacific's contribution to the growth of clean energy technology market size will increase during the forecast period due to the increasing
need to curb CO2 emissions from the region.