Market Size of Europe Solar Photovoltaic (PV) Industry
| Study Period | 2020-2029 |
| Base Year For Estimation | 2023 |
| Market Volume (2024) | 294.70 gigawatt |
| Market Volume (2029) | 526.15 gigawatt |
| CAGR (2024 - 2029) | 12.30 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Europe Solar Photovoltaic Market Analysis
The Europe Solar Photovoltaic Market size in terms of installed base is expected to grow from 294.70 gigawatt in 2024 to 526.15 gigawatt by 2029, at a CAGR of 12.30% during the forecast period (2024-2029).
- Over the medium term, factors such as rising demand for electricity across the region, increasing investments on solar energy projects and produce most of the electricity from renewable sources have driven the growth of the market.
- On the other hand, the rising emphasis on natural gas power generation and the availability of natural gas at lower prices for power generation restrains the market growth in the European region.
- Nevertheless, the ambitious solar energy targets are implemented to boost solar PV installation are expected to create lucrative opportunities for the market during the forecast period.
- Germany, with the largest installed capacity of solar photovoltaics, is expected to dominate the European solar photovoltaics (PV) market during the forecast period.
