North America Renewable Energy Market (2025-2031) | Forecast, Outlook, Analysis, Companies, Share, Size, Trends, Growth, Industry, Value, Revenue

North America Renewable Energy Market Highlights

Report Name	North America Renewable Energy Market
Forecast Period	2025-2031
CAGR	6.8%
Forecast Size	USD 2.5 trillion by 2031
Growing Sector	Utilities

Topics Covered in North America Renewable Energy Market Report

The North America Renewable Energy Market Report thoroughly covers the market by Countries, Technology, and End-User. The North America Renewable Energy Market Outlook report provides an unbiased and detailed analysis of the ongoing North America Renewable Energy Market trends, opportunities/high growth areas, and market drivers. This would help stakeholders devise and align their market strategies according to the current and future market dynamics.

North America Renewable Energy Market Size & Analysis

North America Renewable Energy Market was valued at USD 1.5 trillion and is expected to reach USD 2.4 trillion, growing at a CAGR of around 6.8% from 2025 to 2031. Renewable energy refers to the energy that is generated from natural sources, such as sunlight, wind, rain, tides, geothermal heat, and biomass. Unlike fossil fuels which are finite resources, renewable energy sources are infinite and can be continuously replenished. This makes renewable energy a promising solution for addressing the growing concerns of climate change and depleting natural resources.

North America Renewable Energy Market Synopsis

The North America Renewable Energy market is experiencing significant growth which is driven by the increasing awareness about climate change and increasing investments in renewable energy projects. Key players in the market focus on strategic partnerships and acquisitions to enhance their market positions. Additionally, technological advancements and declining costs have made renewable energy more accessible and attractive to both consumers and businesses. Overall, the North America Renewable Energy market shows strong potential for robust growth and development.

According to 6Wresearch, the North America Renewable Energy Market is anticipated to grow at a CAGR of 6.8% during 2025-2031. One of the major drivers of the North America Renewable Energy Market is the increasing awareness about climate change and the need for sustainable practices which pushes both consumers and businesses toward greener alternatives. Additionally, advancements in technology make renewable energy sources like solar and wind more efficient and cost-effective, which in turn fuels the growth of the market. Furthermore, the declining costs of renewable energy infrastructure, from solar panels to wind turbines, make renewable energy a financially viable option for a wide range of businesses. Moreover, increasing investment in renewable energy projects drives the growth of the market, as companies aim to meet sustainability goals and appeal to eco-conscious consumers.

However, the North America Renewable Energy Market faces several formidable challenges that hinder its growth. One of the key challenges is the high initial costs of renewable energy projects, such as solar and wind farms, cwhich an be a significant barrier for investors and developers. Additionally, the integration of renewable energy into the existing grid poses technical difficulties, particularly in terms of maintaining stability and reliability, which in turn hampers the growth of the market. Furthermore, government policy uncertainties create an unpredictable environment for long-term investments, which in turn limits the growth potential of the market. Moreover, the irregular nature of renewable energy sources like wind and solar power can complicate grid reliability, which in turn hinders the growth of the market.

North America Renewable Energy Market: Leading Players

Some of the prominent players in the North America Renewable Energy Market include NextEra Energy Inc., Enel Green Power, First Solar Inc., Invenergy LLC, and Canadian Solar Inc. These companies have a robust presence in the North American market and invest in developing new projects. They also invest in research and development to improve technology and efficiency.

North America Renewable Energy Market: Government Initiatives

The governments in the North America plays a pivotal role in the growth of the Renewable Energy Market through several initiatives. One of the key initiatives is the Clean Energy for Rural and Remote Communities program by the government of Canada that funds renewable energy solutions to reduce reliance on diesel in remote areas. Additionally, the Energy Transition Law by the government of Mexico, which aims to increase the share of clean energy in the national grid by setting ambitious renewable energy targets, fuels the growth of the market. Furthermore, the Clean Energy for America Act by the United States government, offers tax incentives to companies that invest in clean energy technologies, propels the growth of the market. Moreover, introduction of Zero-Emission Vehicle Infrastructure Program by the government of Canada, which aims to build a robust network of EV charging stations nationwide and make sustainable transportation more accessible, leads to the growth of the market.

Future Insights of the Market

The North America Renewable Energy market is poised to witness substantial growth in the coming years. This surge is due to the increasing awareness about climate change and increasing investments in renewable energy projects. Additionally, technological advancements and declining costs of renewable energy further contributes to the market expansion. Overall, the future of the North America Renewable Energy market looks promising, with ample opportunities for growth and development.

Market Segmentation by Countries

According to Ravi Bhandari, Research Head, 6Wresearch, the United States segment is the dominant segment in the industry and will continue to grow in the coming years. This growth is due to the strong support and incentives for renewable energy development by the United States government which have led to a significant increase in installations of solar and wind energy projects.

Market Segmentation by Technology

Based on Technology, the solar segment is the dominant segment in the industry and will continue to grow in the coming years. This growth is due to the declining costs of solar technology, government incentives and policies, and increasing adoption by residential and commercial consumers.

Market Segmentation by End-User

In terms of End-User, the utilities segment is the leading segment in the industry and will continue to grow in the coming years. This growth is due to the increasing adoption of clean energy sources by utility companies as they strive to meet renewable energy targets and reduce their carbon footprint. 

Key Attractiveness of the Report

• 10 Years Market Numbers.
• Historical Data Starting from 2021 to 2024
• Base Year: 2024
• Forecast Data until 2031.
• Key Performance Indicators Impacting the Market.
• Major Upcoming Developments and Projects.

Key Highlights of the Report:

• North America Renewable Energy Market Outlook
• Market Size of North America Renewable Energy Market, 2024
• Forecast of North America Renewable Energy Market, 2031
• Historical Data and Forecast of North America Renewable Energy Revenues & Volume for the Period 2021 - 2031
• North America Renewable Energy Market Trend Evolution
• North America Renewable Energy Market Drivers and Challenges
• North America Renewable Energy Price Trends
• North America Renewable Energy Porter's Five Forces
• North America Renewable Energy Industry Life Cycle
• Historical Data and Forecast of North America Renewable Energy Market Revenues & Volume By Technology for the Period 2021 - 2031
• Historical Data and Forecast of North America Renewable Energy Market Revenues & Volume By Wind for the Period 2021 - 2031
• Historical Data and Forecast of North America Renewable Energy Market Revenues & Volume By Solar for the Period 2021 - 2031
• Historical Data and Forecast of United States Renewable Energy Market Revenues & Volume By Technology for the Period 2021 - 2031
• Historical Data and Forecast of United States Renewable Energy Market Revenues & Volume By Wind for the Period 2021 - 2031
• Historical Data and Forecast of United States Renewable Energy Market Revenues & Volume By Solar for the Period 2021 - 2031
• Historical Data and Forecast of Canada Renewable Energy Market Revenues & Volume By Technology for the Period 2021 - 2031
• Historical Data and Forecast of Canada Renewable Energy Market Revenues & Volume By Wind for the Period 2021 - 2031
• Historical Data and Forecast of Canada Renewable Energy Market Revenues & Volume By Solar for the Period 2021 - 2031
• Historical Data and Forecast of North America Renewable Energy Market Revenues & Volume By End-User for the Period 2021 - 2031
• Historical Data and Forecast of North America Renewable Energy Market Revenues & Volume By Utilities for the Period 2021 - 2031
• Historical Data and Forecast of North America Renewable Energy Market Revenues & Volume By Captive Industrial for the Period 2021 - 2031
• Historical Data and Forecast of North America Renewable Energy Market Revenues & Volume By Commercial for the Period 2021 - 2031
• Historical Data and Forecast of North America Renewable Energy Market Revenues & Volume By Residential for the Period 2021 - 2031
• Historical Data and Forecast of United States Renewable Energy Market Revenues & Volume By End-User for the Period 2021 - 2031
• Historical Data and Forecast of United States Renewable Energy Market Revenues & Volume By Utilities for the Period 2021 - 2031
• Historical Data and Forecast of United States Renewable Energy Market Revenues & Volume By Captive Industrial for the Period 2021 - 2031
• Historical Data and Forecast of United States Renewable Energy Market Revenues & Volume By Commercial for the Period 2021 - 2031
• Historical Data and Forecast of United States Renewable Energy Market Revenues & Volume By Residential for the Period 2021 - 2031
• Historical Data and Forecast of Canada Renewable Energy Market Revenues & Volume By End-User for the Period 2021 - 2031
• Historical Data and Forecast of Canada Renewable Energy Market Revenues & Volume By Utilities for the Period 2021 - 2031
• Historical Data and Forecast of Canada Renewable Energy Market Revenues & Volume By Captive Industrial for the Period 2021 - 2031
• Historical Data and Forecast of Canada Renewable Energy Market Revenues & Volume By Commercial for the Period 2021 - 2031
• Historical Data and Forecast of Canada Renewable Energy Market Revenues & Volume By Residential for the Period 2021 - 2031
• North America Renewable Energy Market - Key Performance Indicators
• North America Renewable Energy Market - Import Export Trade Statistics
• North America Renewable Energy Market - Opportunity Assessment By Countries
• North America Renewable Energy Market - Opportunity Assessment By Technology
• North America Renewable Energy Market - Opportunity Assessment By End-User
• North America Renewable Energy Market - Top Companies Market Share
• North America Renewable Energy Market - Top Companies Profiles
• North America Renewable Energy Market - Comparison of Players in Technical and Operating Parameters
• North America Renewable Energy Market - Strategic Recommendations

Markets Covered

The report offers a comprehensive study of the subsequent market segments:

By Countries

• United States
• Canada

By Technology

• Wind
• Solar

By End-User

• Utilities
• Captive Industrial
• Commercial
• Residential