Top 3 Markets and Notable Players in the APAC Region

As for the top three renewable energy markets in the APAC region, China takes the lead. It has the highest renewable energy market share, accounting for over 40% of the installed capacity in the region. The market for renewable energy in China is characterized by a dominant focus on wind and solar power. In fact, China is the largest producer of both. China Energy, State Power Investment Corporation, and China Guodian Corporation are the biggest players in China’s renewable energy market.

India comes in second as the largest renewable energy market in the APAC region. India’s total installed capacity stands at over 95 GW, and the country has set an ambitious target of achieving 175 GW of renewable energy capacity by 2022. Adani Green Energy, Tata Power, and ReNew Power are the dominant players in India’s renewable energy market.

In third place is Japan, boasting an immense installed capacity of over 57 GW. The land of the rising sun is paving the way in the renewable energy market, with a primary focus on solar power, and has set an ambitious target of achieving 24% of its energy mix from renewable sources by 2030. Leading the charge in the Japanese renewable energy market are the likes of SoftBank Group, Tokyo Electric Power Company, and JERA.

Up-and-Coming Markets and New Players to Look Out For

Vietnam, Australia, and South Korea are emerging as the exciting up-and-coming markets for renewable energy in the APAC region, with significant investment and promising growth projected in the years to come. These markets are characterized by growing energy demand, favorable government policies, and the influx of new players.

Vietnam, with an installed renewable energy capacity of over 10 GW, is shooting for the stars with a target of achieving 21% of its energy mix from renewable sources by 2030. The market is expected to soar to new heights, with a projected addition of over 23 GW of renewable energy capacity in the coming decade. Trungnam Group, AC Energy, and B.Grimm Power are the titans leading the way in this promising market.

Australia, with its wealth of natural resources like solar and wind power, has set its sights high, targeting a 50% renewable energy mix by 2030. The market is predicted to surge forward, with over 50 GW of renewable energy capacity projected to be added in the next decade. The likes of AGL Energy, Origin Energy, and Macquarie Group are the heavyweights leading the charge in the Australian renewable energy market.

Last but certainly not least, South Korea is making strides towards a cleaner energy future, with a target of achieving 20% of its energy mix from renewable sources by 2030. The market is expected to see an addition of over 30 GW of renewable energy capacity in the coming decade, with industry leaders such as Korea Electric Power Corporation, Hanwha Energy, and SK E&S leading the charge.

In summary, the renewable energy landscape in the APAC region is evolving at a breakneck pace. The market is dominated by industry titans such as state-owned companies, power utilities, and conglomerates, but new players like independent power producers and foreign investors are entering the fray, bringing with them fresh perspectives and innovative ideas. It is an exhilarating time for industry players and investors alike to capitalize on the vast opportunities that await in the quest for a cleaner and more sustainable energy future.