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The Australia renewable energy market attained a capacity of 56.23 gigawatts (GW) in 2024, largely due to the diversification of energy sources, which enhances national energy security by lessening the reliance on imported fossil fuels. The market is expected to grow at a CAGR of 10.40% from 2025 to 2034, reaching 151.24 gigawatts by 2034. This robust growth reflects Australia’s commitment to sustainable energy, driven by abundant natural resources, supportive government policies, and increasing global demand for clean energy solutions.
The Australia energy storage market, valued at 6.93 GW in 2024, has seen significant growth, driven by its ability to enhance grid stability by balancing supply and demand, thus preventing blackouts. The market is forecasted to grow at a compound annual growth rate (CAGR) of 19.40% from 2025 to 2034, potentially reaching 40.81 GW by 2034, as energy storage systems enable individuals and businesses to store energy for later use, reducing dependence on external power sources and enhancing energy security. As the global energy landscape evolves, Australia is making strategic investments in energy storage technologies to secure a reliable, sustainable energy future.
The Australia energy drink market attained a volume of 131.52 million litres in 2024, driven by increasing demand for healthier, low-sugar, and functional drinks, which cater to Australia’s health-conscious consumers. The market is expected to grow at a CAGR of 5.59% from 2025 to 2034, potentially reaching 226.58 million litres by 2034, with Australia’s busy, on-the-go lifestyle further boosting demand for convenient and portable energy drinks. This growth is not only a reflection of changing consumer preferences but also a result of broader shifts in the global energy drink industry, where performance, health benefits, and convenience are becoming key driving factors.
The Australia used car market, valued at nearly AUD 65.96 billion in 2023, is projected to experience substantial growth, driven by the proliferation of peer-to-peer distribution channels. Amidst increasing wait times for new vehicles and rising consumer preference for cost-effective automobile models, the industry is expected to grow at a robust CAGR of 5.50% from 2024 to 2032. By 2032, the market is anticipated to reach around AUD 106.80 billion, reflecting not only a surge in demand for used cars among middle-income consumers but also from school-going graduates who prefer modern and yet affordable pickups.
The Australia smartphones market size, valued at nearly AUD 8.41 billion in 2023, is projected to experience substantial growth, driven by the growing demand for premium smartphones among consumers. With the increasing integration of generative AI tools into smartphones, the industry is expected to grow at a robust CAGR of 2.00% from 2024 to 2032. By 2032, the market is anticipated to reach around AUD 10.05 billion, reflecting rising consumer appeal for iOS smartphones, driven by the rapid expansion of e-commerce channels.
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