Market Size of Turkey Solar Energy Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | > 6.00 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Turkey Solar Energy Market Analysis
The Turkey solar energy market is expected to register a CAGR of more than 6% during the forecast period.
COVID-19 negatively impacted the market in 2020. Presently the market is likely to reach pre-pandemic levels.
- In the medium term, factors such as the decreasing reliance on fossil fuel-based power generation by the government and the declining cost of solar PV modules will likely drive the Turkey solar energy market.
- On the other hand, Turkey's dependence on hydropower due to mountainous terrain for electricity generation will act as a restraint for the market.
- Nevertheless, the efforts to strengthen energy security and ambitious goals to reduce greenhouse gas emissions by using renewable energy sources serve as an opportunity for the Turkey solar energy market.
