Key Insights
The South Korean renewable energy market, valued at approximately $X million in 2025 (assuming a logical extrapolation based on the provided CAGR of >5.5% and the stated market size, which is missing), is experiencing robust growth, projected to maintain a CAGR exceeding 5.5% through 2033. This expansion is driven by several factors, including the government's ambitious renewable energy targets to mitigate climate change and enhance energy independence. The increasing awareness of environmental concerns among consumers and businesses further fuels this growth. Key market drivers include substantial investments in renewable energy infrastructure, supportive government policies such as feed-in tariffs and tax incentives, and advancements in renewable energy technologies leading to increased efficiency and cost reductions. The solar and wind segments are expected to lead this growth, propelled by decreasing technology costs and increasing energy demand. However, challenges remain, including land availability constraints for large-scale projects, the intermittent nature of renewable energy sources requiring sophisticated grid management, and the need for further investment in energy storage solutions.
South Korea Renewable Energy Industry Market Size (In Billion)
The market is segmented by renewable energy type, including wind, solar, hydro, and others. Major players like JinkoSolar, Korea Electric Power Corporation, Engie SA, and Hanwha Corp are actively shaping the market landscape through investments in projects, technological advancements, and strategic partnerships. The South Korean government's commitment to renewable energy will likely influence further investments and infrastructure development in the coming years. While regional data is limited to South Korea, the overall market dynamics suggest a promising future for renewable energy adoption and innovation within the country, despite the inherent challenges. The projected growth consistently exceeds the average global growth rates, showcasing the nation's unique position and dedication to renewable energy transition.
South Korea Renewable Energy Industry Company Market Share
South Korea Renewable Energy Industry: 2019-2033 Market Analysis and Forecast
This comprehensive report provides an in-depth analysis of the South Korea renewable energy industry, offering invaluable insights for industry professionals, investors, and policymakers. With a study period spanning 2019-2033, a base year of 2025, and a forecast period of 2025-2033, this report leverages rigorous data analysis to illuminate market trends and growth opportunities. The report includes detailed segmentation analysis across Wind, Solar, Hydro, and Other Renewable Energy types, providing granular insights into market size, growth projections, and competitive dynamics. Expect detailed profiles of key players including JinkoSolar Holding Co Ltd, Korea Electric Power Corporation, Engie SA, POSCO Energy Co Ltd, Korea Hydro and Nuclear Power Company Ltd, Gridwiz Inc, Canadian Solar Inc, Ocean Wind Energy Inc, Hanwha Corp, and S-Energy Co Ltd.
South Korea Renewable Energy Industry Market Structure & Innovation Trends
This section analyzes the South Korean renewable energy market's structure, focusing on market concentration, innovation drivers, regulatory frameworks, and M&A activity. We examine the market share held by leading players and delve into the value of significant M&A deals within the period 2019-2024. The analysis includes an assessment of the influence of government policies and technological advancements on market dynamics. Specific examples of successful innovation and disruptive technologies within the industry are highlighted. The impact of product substitutes and the evolving end-user demographics on market growth will also be addressed. The total market size is estimated at xx Million in 2025, with a xx% market share attributed to the top 5 players. Significant M&A activity observed includes deals valued at approximately xx Million in 2023 and xx Million in 2022. This section comprises approximately 400 words.
South Korea Renewable Energy Industry Market Dynamics & Trends
This section explores the market’s growth drivers, technological disruptions, consumer preferences, and competitive landscape. We analyze the Compound Annual Growth Rate (CAGR) for the forecast period (2025-2033) and examine market penetration rates for various renewable energy technologies. The impact of evolving consumer preferences, such as increasing demand for sustainable energy solutions, is also considered. We dissect the competitive dynamics among key players, considering their strategies and market positioning. The influence of government policies such as renewable energy targets and subsidies will be thoroughly discussed. This section contains approximately 600 words.
Dominant Regions & Segments in South Korea Renewable Energy Industry
This section identifies the leading regions and segments within the South Korean renewable energy market. We provide a detailed analysis of the dominance of specific renewable energy types (Wind, Solar, Hydro, Other) across different regions of South Korea. The analysis will be supported by bullet points outlining key drivers, such as favorable economic policies, robust infrastructure, and geographical suitability for specific renewable energy technologies. This section encompasses approximately 600 words.
- Key Drivers for Dominant Segments:
- Government incentives and subsidies
- Technological advancements and cost reductions
- Suitable geographical conditions
- Growing energy demand and decarbonization targets
South Korea Renewable Energy Industry Product Innovations
This section summarizes recent product developments, applications, and competitive advantages within the South Korean renewable energy sector. We focus on significant technological trends, such as advancements in wind turbine technology and the rising efficiency of solar PV panels. The market fit of these innovations, their impact on cost reduction and market competitiveness are discussed. This section is approximately 100-150 words.
Report Scope & Segmentation Analysis
This section details the market segmentation by type: Wind, Solar, Hydro, and Other. Each segment's growth projections, market size (in Millions), and competitive landscape are analyzed separately. This section is approximately 100-150 words.
- Wind: Growth projections, market size (xx Million in 2025), and competitive landscape.
- Solar: Growth projections, market size (xx Million in 2025), and competitive landscape.
- Hydro: Growth projections, market size (xx Million in 2025), and competitive landscape.
- Other: Growth projections, market size (xx Million in 2025), and competitive landscape.
Key Drivers of South Korea Renewable Energy Industry Growth
This section outlines the key growth drivers, including technological advancements (e.g., increased efficiency of solar panels), supportive government policies (e.g., renewable portfolio standards), and economic factors (e.g., decreasing costs of renewable energy technologies). This section is approximately 150 words.
Challenges in the South Korea Renewable Energy Industry Sector
This section discusses barriers and restraints, such as regulatory hurdles, supply chain disruptions, and competitive pressures from established energy sources. Quantifiable impacts of these challenges on market growth are discussed. This section is approximately 150 words.
Emerging Opportunities in South Korea Renewable Energy Industry
This section highlights emerging trends and opportunities, such as the growing demand for energy storage solutions, the development of offshore wind farms, and the increasing adoption of smart grids. This section is approximately 150 words.
Leading Players in the South Korea Renewable Energy Industry Market
- JinkoSolar Holding Co Ltd
- Korea Electric Power Corporation
- Engie SA
- POSCO Energy Co Ltd
- Korea Hydro and Nuclear Power Company Ltd
- Gridwiz Inc
- Canadian Solar Inc
- Ocean Wind Energy Inc
- Hanwha Corp
- S-Energy Co Ltd
Key Developments in South Korea Renewable Energy Industry
- July 2022: SK D&D acquired 15 units of Siemens Gamesa's SG 5.0-145 wind turbines for South Korea's third-largest wind farm. The Gunwi wind farm, upon completion in 2024, will power 64,000 households.
- June 2022: The South Korean government announced a tender for 2 GW of solar PV capacity through KNREC, prioritizing projects with lower-carbon footprint modules.
Future Outlook for South Korea Renewable Energy Industry Market
This section summarizes the future market potential and strategic opportunities. We discuss the expected growth trajectory based on the identified drivers and opportunities, considering potential challenges. This section is approximately 150 words.
South Korea Renewable Energy Industry Segmentation
-
1. Type
- 1.1. Wind
- 1.2. Solar
- 1.3. Hydro
- 1.4. Other Types
South Korea Renewable Energy Industry Segmentation By Geography
- 1. South Korea
South Korea Renewable Energy Industry Regional Market Share
Geographic Coverage of South Korea Renewable Energy Industry
South Korea Renewable Energy Industry REPORT HIGHLIGHTS
| Aspects | Details |
|---|---|
| Study Period | 2020-2034 |
| Base Year | 2025 |
| Estimated Year | 2026 |
| Forecast Period | 2026-2034 |
| Historical Period | 2020-2025 |
| Growth Rate | CAGR of 9.6% from 2020-2034 |
| Segmentation |
|
Table of Contents
- 1. Introduction
- 1.1. Research Scope
- 1.2. Market Segmentation
- 1.3. Research Methodology
- 1.4. Definitions and Assumptions
- 2. Executive Summary
- 2.1. Introduction
- 3. Market Dynamics
- 3.1. Introduction
- 3.2. Market Drivers
- 3.2.1. 4.; Increasing Power Demand across Industrial Sector4.; Remote Location of Several Industries and the Unreliability of the Power Supply
- 3.3. Market Restrains
- 3.3.1. 4.; High Capital and Operational Expenditures
- 3.4. Market Trends
- 3.4.1. Solar Energy Segment Expected to Witness Significant Growth
- 4. Market Factor Analysis
- 4.1. Porters Five Forces
- 4.2. Supply/Value Chain
- 4.3. PESTEL analysis
- 4.4. Market Entropy
- 4.5. Patent/Trademark Analysis
- 5. South Korea Renewable Energy Industry Analysis, Insights and Forecast, 2020-2032
- 5.1. Market Analysis, Insights and Forecast - by Type
- 5.1.1. Wind
- 5.1.2. Solar
- 5.1.3. Hydro
- 5.1.4. Other Types
- 5.2. Market Analysis, Insights and Forecast - by Region
- 5.2.1. South Korea
- 5.1. Market Analysis, Insights and Forecast - by Type
- 6. Competitive Analysis
- 6.1. Market Share Analysis 2025
- 6.2. Company Profiles
- 6.2.1 JinkoSolar Holding Co Ltd
- 6.2.1.1. Overview
- 6.2.1.2. Products
- 6.2.1.3. SWOT Analysis
- 6.2.1.4. Recent Developments
- 6.2.1.5. Financials (Based on Availability)
- 6.2.2 Korea Electric Power Corporation
- 6.2.2.1. Overview
- 6.2.2.2. Products
- 6.2.2.3. SWOT Analysis
- 6.2.2.4. Recent Developments
- 6.2.2.5. Financials (Based on Availability)
- 6.2.3 Engie SA
- 6.2.3.1. Overview
- 6.2.3.2. Products
- 6.2.3.3. SWOT Analysis
- 6.2.3.4. Recent Developments
- 6.2.3.5. Financials (Based on Availability)
- 6.2.4 POSCO Energy Co Ltd
- 6.2.4.1. Overview
- 6.2.4.2. Products
- 6.2.4.3. SWOT Analysis
- 6.2.4.4. Recent Developments
- 6.2.4.5. Financials (Based on Availability)
- 6.2.5 Korea Hydro and Nuclear Power Company Ltd
- 6.2.5.1. Overview
- 6.2.5.2. Products
- 6.2.5.3. SWOT Analysis
- 6.2.5.4. Recent Developments
- 6.2.5.5. Financials (Based on Availability)
- 6.2.6 Gridwiz Inc
- 6.2.6.1. Overview
- 6.2.6.2. Products
- 6.2.6.3. SWOT Analysis
- 6.2.6.4. Recent Developments
- 6.2.6.5. Financials (Based on Availability)
- 6.2.7 Canadian Solar Inc
- 6.2.7.1. Overview
- 6.2.7.2. Products
- 6.2.7.3. SWOT Analysis
- 6.2.7.4. Recent Developments
- 6.2.7.5. Financials (Based on Availability)
- 6.2.8 Ocean Wind Energy Inc
- 6.2.8.1. Overview
- 6.2.8.2. Products
- 6.2.8.3. SWOT Analysis
- 6.2.8.4. Recent Developments
- 6.2.8.5. Financials (Based on Availability)
- 6.2.9 Hanwha Corp
- 6.2.9.1. Overview
- 6.2.9.2. Products
- 6.2.9.3. SWOT Analysis
- 6.2.9.4. Recent Developments
- 6.2.9.5. Financials (Based on Availability)
- 6.2.10 S-Energy Co Ltd
- 6.2.10.1. Overview
- 6.2.10.2. Products
- 6.2.10.3. SWOT Analysis
- 6.2.10.4. Recent Developments
- 6.2.10.5. Financials (Based on Availability)
- 6.2.1 JinkoSolar Holding Co Ltd
List of Figures
- Figure 1: South Korea Renewable Energy Industry Revenue Breakdown (undefined, %) by Product 2025 & 2033
- Figure 2: South Korea Renewable Energy Industry Share (%) by Company 2025
List of Tables
- Table 1: South Korea Renewable Energy Industry Revenue undefined Forecast, by Type 2020 & 2033
- Table 2: South Korea Renewable Energy Industry Volume Gigawatt Forecast, by Type 2020 & 2033
- Table 3: South Korea Renewable Energy Industry Revenue undefined Forecast, by Region 2020 & 2033
- Table 4: South Korea Renewable Energy Industry Volume Gigawatt Forecast, by Region 2020 & 2033
- Table 5: South Korea Renewable Energy Industry Revenue undefined Forecast, by Type 2020 & 2033
- Table 6: South Korea Renewable Energy Industry Volume Gigawatt Forecast, by Type 2020 & 2033
- Table 7: South Korea Renewable Energy Industry Revenue undefined Forecast, by Country 2020 & 2033
- Table 8: South Korea Renewable Energy Industry Volume Gigawatt Forecast, by Country 2020 & 2033
Frequently Asked Questions
1. What is the projected Compound Annual Growth Rate (CAGR) of the South Korea Renewable Energy Industry?
The projected CAGR is approximately 9.6%.
2. Which companies are prominent players in the South Korea Renewable Energy Industry?
Key companies in the market include JinkoSolar Holding Co Ltd, Korea Electric Power Corporation, Engie SA, POSCO Energy Co Ltd, Korea Hydro and Nuclear Power Company Ltd, Gridwiz Inc, Canadian Solar Inc, Ocean Wind Energy Inc, Hanwha Corp, S-Energy Co Ltd.
3. What are the main segments of the South Korea Renewable Energy Industry?
The market segments include Type.
4. Can you provide details about the market size?
The market size is estimated to be USD XXX N/A as of 2022.
5. What are some drivers contributing to market growth?
4.; Increasing Power Demand across Industrial Sector4.; Remote Location of Several Industries and the Unreliability of the Power Supply.
6. What are the notable trends driving market growth?
Solar Energy Segment Expected to Witness Significant Growth.
7. Are there any restraints impacting market growth?
4.; High Capital and Operational Expenditures.
8. Can you provide examples of recent developments in the market?
July 2022: SK D&D acquired 15 units of Siemens Gamesa's SG 5.0-145 wind turbines for South Korea's third-largest wind farm. As soon as it is completed in 2024, the Gunwi wind farm will produce enough electricity for 64,000 local households, forming part of the country's efforts to reduce reliance on fossil fuels and increase renewable energy generation to 20% by 2030.
9. What pricing options are available for accessing the report?
Pricing options include single-user, multi-user, and enterprise licenses priced at USD 3800, USD 4500, and USD 5800 respectively.
10. Is the market size provided in terms of value or volume?
The market size is provided in terms of value, measured in N/A and volume, measured in Gigawatt.
11. Are there any specific market keywords associated with the report?
Yes, the market keyword associated with the report is "South Korea Renewable Energy Industry," which aids in identifying and referencing the specific market segment covered.
12. How do I determine which pricing option suits my needs best?
The pricing options vary based on user requirements and access needs. Individual users may opt for single-user licenses, while businesses requiring broader access may choose multi-user or enterprise licenses for cost-effective access to the report.
13. Are there any additional resources or data provided in the South Korea Renewable Energy Industry report?
While the report offers comprehensive insights, it's advisable to review the specific contents or supplementary materials provided to ascertain if additional resources or data are available.
14. How can I stay updated on further developments or reports in the South Korea Renewable Energy Industry?
To stay informed about further developments, trends, and reports in the South Korea Renewable Energy Industry, consider subscribing to industry newsletters, following relevant companies and organizations, or regularly checking reputable industry news sources and publications.
Methodology
Step 1 - Identification of Relevant Samples Size from Population Database
Step 2 - Approaches for Defining Global Market Size (Value, Volume* & Price*)
Note*: In applicable scenarios
Step 3 - Data Sources
Primary Research
- Web Analytics
- Survey Reports
- Research Institute
- Latest Research Reports
- Opinion Leaders
Secondary Research
- Annual Reports
- White Paper
- Latest Press Release
- Industry Association
- Paid Database
- Investor Presentations
Step 4 - Data Triangulation
Involves using different sources of information in order to increase the validity of a study
These sources are likely to be stakeholders in a program - participants, other researchers, program staff, other community members, and so on.
Then we put all data in single framework & apply various statistical tools to find out the dynamic on the market.
During the analysis stage, feedback from the stakeholder groups would be compared to determine areas of agreement as well as areas of divergence