Market Size of Greece Renewable Energy Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | > 4.20 % |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Greece Renewable Energy Market Analysis
The Greek renewable energy market is expected to witness a CAGR greater than 4.2% during the forecast period, 2022-2027. After the financial crisis, the economy of Greece was recovering steadily, and after the COVID-19 pandemic, the country fell into another financial crisis which adversely affected the renewable energy market in the country. Greece has a high potential for renewable energy, majorly wind, solar, and geothermal will be a significant driver to the market, coupled with the country's effort to meet European environmental standards to reduce carbon emissions. However, the fluctuating economy in the country is expected to be a significant restraint on the market.
- Wind energy is expected to be the fastest-growing segment in the country due to its high potential in the country.
- According to the European Commission, the country aims to cover 61% of its electricity consumption from renewable sources, which is expected to create several opportunities for renewable energy in the future.
- Supportive government policies are expected to become the major driver for the renewable energy segment in the country.
