ENERGY

Industries · Energy

The foundation of the 21st-century economy

Energy and renewables are the power on which AI, industry, transport and daily life will run: a $7.3 trillion market driven by climate imperatives, energy security and the electricity demand of the digital age.

The opportunity

Spending at unprecedented scale

From solar projects that now dominate new generation capacity, to technologies growing at 60–80% a year, to hydrogen corridors spanning continents, the opportunities are huge. From $1 billion tenders in India and Egypt to the grid modernisation required worldwide, governments and corporations are spending at unprecedented scale.

So is the complexity. High capital costs, storage limitations, grid bottlenecks and supply chain vulnerabilities mean success requires deep expertise and strategic guidance. Technology evolves faster than organisations can adapt, and regulations shift with political winds.

Key market data at a glance

The numbers that command attention

A $7.3 trillion market growing at double-digit rates, driven by falling technology costs, policy support and insatiable demand from the AI revolution.

$1.7 tn → $7.3 tnTotal energy industry, 2025 to 2034: 17.2% annual growth
$1.08 tn → $1.84 tnGlobal renewable energy market, 2025 to 2034: 6.17% CAGR (2026–2034)
$20.86 bn → $89.32 bnHydrogen energy storage market, 2025 to 2032
11.4%Hydrogen infrastructure CAGR, 2026–2036
57.53%Solar’s share of the renewable energy market in 2026
+270 TWhIncrease in solar generation in 2022, up 26%
Market structure

Who generates and who buys

Type · 2026Market share by typeSolar: 57.53%
Wind: strong growth (7.51% CAGR)
Hydropower: significant and stable
End users · 2024End-user segmentsUtility: 53.96%
Industrial: growing rapidly
Residential: 14.88% (projected 2026)
Commercial: significant
AIShare of companies prioritising AIOil & gas: 79%
Power & utilities: 77%
Chemicals: 70%
Mining: 59%
Renewables: 53%
Hydrogen

The long-duration solution

Hydrogen is the only scalable solution for seasonal storage and hard-to-abate industrial sectors.

The market: hydrogen storage is projected to grow at 4.58% CAGR through 2032, reaching nearly $90 billion. Hydrogen infrastructure, including pipelines, storage caverns and refuelling stations, is growing at 11.4% CAGR.

The opportunity: electrolyser manufacturing, pipeline networks, storage cavern development and international shipping corridors. The UK’s HyNet North West cluster combines blue hydrogen production, dedicated hydrogen pipelines and CO₂ transport and storage, serving multiple industrial customers.

Finance

Who funds energy in emerging markets

Development finance institutions are among the largest funders of energy infrastructure in emerging markets.

The International Renewable Energy Agency (IRENA) works with policymakers worldwide to design systemic innovations that attract private investment. The Climate Finance Leadership Initiative (CFLI) India, launched with a $1.2 billion UK government package, aims to mobilise private finance for green infrastructure.

Major recent tenders

Examples of what is out there

01Saudi Arabia (solar & wind)

Round 7 of the National Renewable Energy Program covers 5.3 GW of solar and wind independent power projects. Qualified bidders were announced in January 2026, and developers have since submitted their bids.

02Saudi Arabia (gas power)

In late September 2026, 13 firms were qualified to bid for new gas-fired independent power plants, a sign that investment in power generation continues at scale.

03Global

The World Bank, the African Development Bank and other multilateral institutions fund hundreds of energy projects every year, from grid expansion to off-grid solutions.

Our role

The future is powered by renewables

Our job is to help you not just participate, but lead: to turn complexity into clarity and uncertainty into advantage. The future is powered by renewables, and we are here to help you build it.

Planning an energy project or bid?

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