Global Renewable Energy Market Set to Hit $3.875 Trillion by 2035

The global renewable energy market is projected to reach $3.875 trillion by 2035, expanding at a compound annual growth rate of 12.5% between 2025 and 2035. According to Transparency Market Research Inc., this marks more than a threefold increase compared to 2024, highlighting the accelerating shift toward clean energy solutions.

This expansion is being driven by the widespread adoption of solar, wind, hydro, and other renewable technologies, supported by strong government initiatives. The report notes that governments, corporations, and communities around the world are prioritising renewable energy to fight climate change, reduce carbon emissions, and secure energy independence. At the same time, technological progress, falling costs, and favourable policy frameworks are making renewables increasingly competitive with conventional energy sources.

By 2035, renewables are expected to dominate global power generation, propelled by commitments to achieve net-zero targets and reduce reliance on fossil fuels. The market will also see the mainstream use of renewable-powered green hydrogen, significant expansion of offshore wind and floating solar projects, greater deployment of decentralised microgrids to serve remote areas, and deeper integration of clean energy into heavy industries and transportation.

Growth will be led by the Asia-Pacific region, followed by Europe and North America, reflecting large-scale investments and robust government support. Major players including Iberdrola, Enel, Ørsted, and NextEra are strengthening their positions through extensive renewable portfolios, long-term power purchase agreements, and advanced digital operations designed to maximise efficiency and reliability.