Market Size of South Europe Renewable Energy Industry
| Study Period | 2021 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2021 - 2022 |
| CAGR | > 6.00 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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South Europe Renewable Energy Market Analysis
The South Europe Renewable Energy Market is expected to grow at a CAGR of more than 6% during the forecast period.
The market was negatively impacted by COVID-19 in 2020. Currently. The market has reached pre-pandemic levels.
- Over the long term, factors such as supportive government policies and efforts to meet power demand using renewables and decrease dependency on fossils are the long-term drivers of the market's growth.
- On the other hand, factors such as increased environmental awareness and regulations and decreased cost per kilowatt of electricity generated from renewables are expected to boost the market in the long term. On the other hand, the high price of renewable energy storage is expected to restrain the market.
- Nevertheless, new technologies and materials like the latest research on the perovskites are expected to increase the efficiency of the cells, coupled with government focus to decrease dependence on imported fossil fuels fuel are likely to act as potential opportunities.
- Italy is expected to have the largest share of renewable energy among the nations in the forecast period due to its significant electricity consumption and government focus on decreasing dependence on imported fossil fuels. The country is also expected to invest in the research and development of renewable energy, which is likely to aid in market growth.
