Renewable energy insurance to bag $28b by 2034

This reflects a compound annual growth rate (CAGR) of 4.22%.

The global renewable energy insurance market is projected to grow steadily over the next decade, rising from $19.41b in 2025 to $28.16b by 2034, according to Market Research Future. 

This reflects a compound annual growth rate (CAGR) of 4.22% from 2025 to 2034.

In 2024, the market was valued at $18.62b, with growth supported by rising investments in renewable energy infrastructure, mounting climate-related risks, and evolving regulatory requirements mandating insurance coverage for clean energy projects.

The expansion of wind, solar, and hydroelectric installations worldwide has driven demand for tailored insurance products covering risks such as construction delays, equipment failure, and business interruption.