European Solar Power Equipment Market Size, Share and Growth Forecasts to 2027: 10.7% Compound Annual Growth Forecast During 2021-2027 – ResearchAndMarkets.com
DUBLIN–(BUSINESS WIRE)–The “Europe Solar Power Equipment Market Size, Share & Industry Trends Analysis Report By Equipment, By Application, By Country and Growth Forecast, 2021-2027” report has been added to ResearchAndMarkets.com’s offering.
The Europe Solar Power Equipment Market is expected to witness market growth of 10.7% CAGR during the forecast period (2021 2027).
Solar panels are low-maintenance and can last for more than 30 years. Batteries can be used to store extra power for use at night. Solar energy has also benefited industries in improving their environmental profiles and lowering their operational expenses by allowing them to adopt it. The cost of solar equipment has decreased due to a significant number of technological developments, making it more affordable to household consumers. Additionally, technological improvements such as the advent of smart tracking systems have improved the efficiency of these solar power systems dramatically. Moreover, as fossil fuel reserves deplete, effective utilization of renewable energy sources has become a fundamental requirement.
In emerging markets, new solar power projects are launched and developed at a quick speed. The market for solar power equipment is likely to benefit greatly from greater emphasis on the usage of environment-friendly and green energy. All of these factors is expected to drive the solar power equipment market.
According to the data shared by the European Commission, solar power already provides a major contribution to the European energy mix with 3.6 percent of EU-28 total electricity generation in 2017. Solar power can become a major source of renewable energy in this region, with lower generation costs and more efficiency in converting sunshine to energy. In addition, Photovoltaics concentrated solar power, and solar heating and cooling are becoming the major focus of research and development. Solar-powered solutions for the generation of home hot water, district heating, as well as industrial or commercial uses are being developed through EU research and innovation.
As per the Department for Business, Energy, and Industrial Strategy, between 2019 and 2020, a solar generation grew by 4.6%. The biggest rise of 5.2% occurred in England, followed by minor increases of 1.3% in Wales and by 0.3% in Scotland. These increases were fueled by a 1.8% rise in de-rated solar capacity across the UK in comparison to 2019, as well as a slight increase in sun hours within the county.
The German market dominated the Europe Solar Power Equipment Market by Country in 2020, and is expected to continue to be a dominant market till 2027; thereby, achieving a market value of $11,717 Million by 2027. The UK market is experiencing a CAGR of 11.6% during (2021 – 2027). Additionally, the French market is expected to witness a CAGR of 11.6% during (2021 – 2027).
Market Segments Covered in the Report:
By Equipment
- Solar Panels
- Mounting, Racking, & Tracking System
- Storage System
By Application
- Utility
- Residential
- Non-Residential
By Country
- Germany
- UK
- France
- Russia
- Spain
- Italy
- Rest of Europe
List of Companies Profiled in the Report:
- Canadian Solar
- First Solar
- Hanwha Q CELLS
- LONGi Green Energy Technology
- SunPower
- Shunfeng International Clean Energy
- Jinko Solar Holding
- Trina Solar
- JA Solar Holdings
-
ABB Group
Key Topics Covered:
Chapter 1. Market Scope & Methodology
Chapter 2. Market Overview
2.1 Introduction
2.1.1 Overview
2.1.1.1 Market Composition and Scenario
2.2 Key Factors Impacting the Market
2.2.1 Market Drivers
2.2.2 Market Restraints
Chapter 3. Competition Analysis – Global
3.1 Publisher Cardinal Matrix
3.2 Recent Industry Wide Strategic Developments
3.2.1 Partnerships, Collaborations and Agreements
3.2.2 Product Launches and Product Expansions
3.2.3 Acquisition and Mergers
3.2.4 Business Expansions
3.2.5 Geographical Expansions
3.3 Top Winning Strategies
3.3.1 Key Leading Strategies: Percentage Distribution (2017-2021)
3.3.2 Key Strategic Move: (Product Launches and Product Expansions: 2020, Feb – 2022, Feb) Leading Players
Chapter 4. Europe Solar Power Equipment Market by Equipment
4.1 Europe Solar Panels Market by Country
4.2 Europe Mounting, Racking, & Tracking System Market by Country
4.3 Europe Storage System Market by Country
4.4 Europe Others Market by Country
Chapter 5. Europe Solar Power Equipment Market by Application
5.1 Europe Utility Market by Country
5.2 Europe Residential Market by Country
5.3 Europe Non-Residential Market by Country
Chapter 6. Europe Solar Power Equipment Market by Country
6.1 Germany Solar Power Equipment Market
6.2 UK Solar Power Equipment Market
6.3 France Solar Power Equipment Market
6.4 Russia Solar Power Equipment Market
6.5 Spain Solar Power Equipment Market
6.6 Italy Solar Power Equipment Market
6.7 Rest of Europe Solar Power Equipment Market
Chapter 7. Company Profiles
For more information about this report visit https://www.researchandmarkets.com/r/axt4jm
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