Power up: Industry growth will accelerate as demand for renewable power increases

Over the past five years, the Renewable Power industry has grown slowly in response to weak growth in demand alongside steady increases in electricity rates. While the industry has benefited from an improving economy that has resulted in increased consumer spending and rising demand from commercial sources, industrial output has only risen weakly in response to declining commodity prices between 2014 and 2016 that prompted slashed activity in a wide range of industries. Over the next five years, IBISWorld forecasts the industry will benefit from rising commodity prices, which, alongside increased consumer spending, should stimulate demand from industrial and commercial sources...read more.

Industry Statistics & Market Size
Annual Growth 13-18
Forecast Growth 18-23

Industry Threats & Opportunities

  • Revenue is expected to grow in line with strengthening demand for renewable power
  • As US industrial production picked up, demand for electricity increased
  • Electricity trade with the United States is forecast to fluctuate over the next five years
  • Industry Report - Industry Analysis Chapter

    The Renewable Power industry in Canada exhibited slow growth over the past five years. Industry demand is somewhat inelastic, as most consumers, businesses and manufacturers consider electricity a major necessity. As a result, electricity consumption is historically stable, typically following trends in overall population growth. In addition, electricity prices are often set by provincial regulatory agencies. Although the degree of price regulation varies from province to province, government regulation generally shields electricity prices from volatile market forces. Over the past five years, electric power consumption has risen only marginally, although prices have steadily increased. Overall, IBISWorld expects industry revenue to rise at an annualized rate of 0.8% to $28.6 bi...purchase to read more.

    Additional Insights for the Renewable Power Industry

    IBISWorld identifies 250 Key Success Factors for a business.The most important for the Renewable Power Industry are

  • Ability to accommodate environmental requirements
  • Ready access to investment funding
  • Access to power grid
  • IBISWorld analysts also discuss how external factors such as Electric power consumption and Price of electric power in the Renewable Power industry impact industry performance..

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    What's in this report

    What is the Renewable Power Industry?

    This industry generates power by harnessing resources that are replenished naturally. Industry facilities include hydro, solar, wind, geothermal, biomass and other types of power plants that use renewable energy. Renewable power typically emits fewer pollutants than fossil fuel power generators.

    Industry Products
  • Public utility hydroelectric power
  • Privately owned hydroelectric power
  • Wind Power
  • Biomass
  • Solar power
  • Industry Activities
  • Generating electricity through hydraulic turbines
  • Generating electricity through tidal power
  • Generating electricity through solar panels
  • Generating electricity through wind turbines
  • Generating electricity through biomass generators
  • Generating electricity through geothermal power
  • Generating electricity through other forms of renewable power
  • Table of Contents

    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    Executive Summary
    Key External Drivers
  • Electric power consumption
  • Price of electric power
  • World price of natural gas
  • World price of steaming coal
  • Industrial capacity utilization

  • Current Performance
  • Demand and renewable generation
  • Growing wind and solar
  • Profit growth
  • Fluctuations in US demand
  • Chart: Revenue Growth

  • Industry Outlook
  • Demand and prices
  • Competition
  • Industry expansion
  • Table: Renewable Power Industry Revenue Outlook

  • Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Renewable Power Industry Lifecycle vs The Economy

  • Supply Chains
    Key Buying Industries
  • Electric Power Transmission in Canada
  • Manufacturing In Canada

  • Key Selling Industries
  • Engine & Turbine Manufacturing in Canada
  • Heavy Infrastructure Construction in Canada
  • Semiconductor & Other Electronic Component Manufacturing in Canada
  • Sewage Treatment Facilities in Canada
  • Transmission Line Construction in Canada
  • Water Supply & Irrigation Systems in Canada
  • Wind Turbine Manufacturing in Canada

  • Products & Services
  • Public utility hydroelectric power
  • Wind Power
  • Privately owned hydroelectric power
  • Biomass
  • Solar power
  • Chart: Renewable Power Industry Products and Services Segmentation

  • Demand Determinants
    Major Markets
  • Residential markets
  • Industrial markets
  • Commercial markets
  • Exports
  • Chart: Major Market Segmentation for the Renewable Power Industry

  • International Trade
    Business Locations
    Chart: Business Locations by State
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
  • Chart: Cost Structure Benchmarking – Sector vs Renewable Power

  • Basis of Competition
  • Internal competition
  • External competition

  • Barriers to Entry
  • Table: Barrier to Entry Checklist for the Renewable Power Industry

  • Industry Globalization
    Hydro-Quebec, BC Hydro, Manitoba Hydro, Ontario Power Generation Inc.,
  • Table: Hydro-Quebec - financial performance
  • Table: BC Hydro - financial performance
  • Table: Manitoba Hydro - financial performance
  • Table: Ontario Power Generation Inc. - financial performance

  • Capital Intensity
  • Chart: Level of Capital Intensity for the Renewable Power Industry
  • Chart: Tools of the Trade: Growth Strategies for Success

  • Technology & Systems
    Revenue Volatility
  • Chart: Volatility vs Industry Growth

  • Regulation & Policy
    Industry Assistance
    Table: Industry Data for the Renewable Power Industry
  • Industry Revenue (2009-2023)
  • Industry Gross Product (2009-2023)
  • Establishments (2009-2023)
  • Businesses (2009-2023)
  • Employment (2009-2023)
  • Exports (2009-2023)
  • Imports (2009-2023)
  • Wages (2009-2023)
  • Renewable electricity generation (2009-2023)

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
  • Biological material that typically comprises plants and plant material.
  • Crown Corporation
  • Businesses or enterprises owned solely by the federal or provincial governments.
  • Geothermal Energy
  • Geothermal energy is typically composed of heat that is stored in the earth.
  • Joule
  • The amount of energy required to produce one watt of power for one second.
  • What Our Customers Say

    Why buy this report?

    IBISWorld’s Renewable Power market research report is a comprehensive guide to market size and growth prospects. Our industry reports offer strategic industry analysis of the factors influencing companies, including new product developments, economic, lifestyle and demographic influences, distribution and supply chain factors and pricing issues. Full analysis accompanies our data forecasts to illustrate how the market responds to emerging industry trends.

    IBISWorld industry market research reports enable you to:
    • Find out about key industry trends
    • Identify threats and opportunities
    • Inform your decisions for marketing, strategy and planning
    • Quickly build competitive intelligence
    This report on Renewable Power:
    • Provides Market Size information to assist with planning and strategic decisions.
    • Includes the necessary information to perform SWOT, PEST and STEER analysis.
    • Helps you understand market dynamics to give you a deeper understanding of industry competition and the supply chain.
    • Analyses key performance and operational metrics so that you can benchmark against your own business, that of your customers’ businesses, or your competitors’ businesses.
    The Renewable Power market research report includes:
    • Historical data and analysis for the key drivers of this industry
    • A five-year forecast of the market and noted trends
    • Detailed research and segmentation for the main products and markets
    • An assessment of the competitive landscape and market shares for major companies
    • And of course, much more

    IBISWorld reports on thousands of industries around the world. Our clients rely on our information and data to stay up-to-date on industry trends across all industries. With this IBISWorld Industry Research Report on Renewable Power, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

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