Market Size of West Europe Renewable Energy
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | > 6.00 % |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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West Europe Renewable Energy Market Analysis
The renewable energy market in West Europe is expected to register a CAGR of more than 6% during the forecast period.
The market was mildly impacted by the COVID-19 pandemic. However, the market has since recovered and is expected to grow steadily during the forecast period.
- Over the long term, the increasing power demand in different countries of the region is the primary factor for the estimated growth of the market during the forecast period.
- On the flip side, rising investments in gas-fired capacity and LNG import capabilities are expected to restrain the market during the forecast period.
- Nevertheless, the commercialization of energy generation from new and novel renewable energy sources, such as marine and tidal energy, is expected to provide several opportunities for the market during the forecast period.
- France is dominating West Europe with more than 65 GW of installed renewable energy capacity in 2022 and is expected to continue its dominance during the forecast period.
