Europe Solar Photovoltaic Panel Market Revenues to Cross $84 Bn By 2027 Growth Is Driven by Favourable Policies to Achieve Carbon Neutrality: Ken Research

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Introduction

Solar energy is the radiant energy discharged from the sun, which is harnessed by utilizing numerous solar panel technologies likewise crystalline silicon, and thin film. It is a proficient form of nonconventional energy and a convenient renewable solution toward increasing greenhouse emissions and international warming. In addition, the solar panel entail solar cells that are organized in sandwich-like structure made up of silicon material. The power (DC) introduced by solar panels is then transformed into AC power with the assistance of the solar inverters, which can be utilized by numerous clients, involving commercial, residential and industrial.

Market Revenue Forecast

According to the latest market analysis report by Ken Research, ‘Europe Solar Photovoltaic Panel Market Outlook and Forecast to 2027 - Driven by Favourable Policies to Achieve Carbon Neutrality by 2050 and Integrated Market Structure Enabling Fast Projects’, Europe Solar Photovoltaic Panel Market is predicted to cross USD 84 Bn and observe a CAGR of about 19% over the next 5 years, due to the growth in the demand for energy, favourable government policies and augmenting the incentives for the implementation of renewable energy sources in the region. Additionally, most of the countries across Europe are either enlarging/building new power plants or are moving towards renewable sources of energy especially solar power to encounter the rise in demand.

                                              Europe Solar PV Panel Market

The report broadly classifies this market into 4 segments – by Technology Type, Connectivity, by Deployment Type and by End User Industry. In addition, it covers Geographic segmentation analysing major countries market in detail.

According to the findings of this Ken Research report, among the market segments, Polycrystalline Silicon leads in terms of Technology type while Ground-mounted is the leading Deployment type in this market. And France is the fastest growing individual country market within entire region.

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Market Growth Drivers and Challenges

During 2021, European Commission proposed a new regulatory framework ‘Fit for 55’ to dimmish the Greenhouse Gases (GHG) by 55% by 2030 and accomplish the climate neutrality by 2050. The region also aims on accomplishing the terms of the Paris Agreement which states to restrict the global warming to 1.5 degrees Celsius as associated to the pre-industrial level. With the signing of this agreement, the countries resolve to decrease the greenhouse gas emissions by scaling up the usage of renewable energy such as solar energy.

Ken Research specifies some of the additional drivers that will lead to the growth of solar panels involve proposal by the European Commission for 40% renewable energy utilization by 2030. The European Solar market is also propelled by a net-metering system that utilizes a discount mechanism to balance the annual energy that was conveyed and purchased. The solar PV installed in Europe augmented from 10 GW during 2018 to in 17 GW 2019 such measures.

Land accessibility is one of the foremost challenges in the Europe solar photovoltaic industry based on the observation of Ken Research. The difficulties are faced in retrieving land for ground-mounted PV projects precisely on agricultural land.  For rooftop PV panels and projects, the foremost challenge is the delays of sanction both at administrative and network levels. In addition, at middle and high voltage levels owing to shortage of grid capacity, long delays and project the non-realization are the challenges.

Regional Outlook

Europe is at the forefront of moving aim towards the renewable sources for energy consumption both at commercial and residential level. The increasing implementation of solar energy in residential homes and commercial scale plants, is predicted to introduce the significant requirement for solar photovoltaic panels during the coming years.

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Key Segments Covered in Europe Solar Photovoltaic Panel Market: -

Europe Solar Photovoltaic Panel Market by Technology

Monocrystalline Silicon

Thin-Film

Polycrystalline Silicon

Others

Europe Solar Photovoltaic Panel Market by Connectivity

On-Grid

Off-Grid

Europe Solar Photovoltaic Panel Market by Deployment

Ground-Mounted

Rooftop Solar

Europe Solar Photovoltaic Panel Market by End User Segment

Residential

Commercial

Industrial

Utility

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Europe Solar Photovoltaic Panel Market by Geography and Major Countries

Germany

Spain

The Netherlands

France

Poland

Key Target Audience: -

Solar Cells Manufacturers

Solar Panel Manufacturers

Solar Panel Raw Material Suppliers

Solar Panel Assemblers

Solar Panel Distributors

Solar Energy Equipment Assemblers

Solar Power Generation Equipment Manufacturers

Utilities Departments

Solar Energy Research Organizations

Renewable Energy Research Organizations

Investment Funds

Independent Power Producers (IPP)

Allied/Auxiliary industries for Solar Panels

Potential Investors in Solar Panel Companies

Renewable Energy Providers

Ministries of Energy and Power Generation

Ministries of Energy and Power Distribution

Environment Control and Emission Regulatory Organizations

Time Period Captured in the Report: -

Historical Period: 2017-2021

Forecast Period: 2022-2027F

Companies Mentioned:-

Key Competitors in Europe Solar Photovoltaic Panel Market: -

Jinko Solar

Canadian Solar

First Solar

Hanwha Corporation

SHARP Corporation

Trina Solar

JA Solar Technology Co., Ltd

Photowatt

Solarwatt

Luxor Solar

Megasol Energy Ltd.

SoliTek

Emerging Solar Photovoltaic Panel Companies in Europe

Soluxtec GmbH

AxSun Solar GmbH & Co. KG

aleo solar

Calyxo TS Solar GmbH

Onyx Solar Group LLC

SolarMente

Zytech Solar

4solar

ARIENS SOLAR

Corab

Eolus

SOLEMS S.A.

beem-energy

Sillia Energia

VOLTEC solar

Key Topics Covered in the Report: -

Snapshot of Europe Solar Photovoltaic Panel Market

Industry Value Chain and Ecosystem Analysis

Market size and Segmentation of Europe Solar Photovoltaic Panel Market

Historic Growth of Overall Europe Solar Photovoltaic Panel Market and Segments

Competition Scenario of the Market and Key Developments of Competitors

Porter’s 5 Forces Analysis of Europe Solar Photovoltaic Panel Industry

Overview, Product Offerings, and SWOT Analysis of All the Key Competitors

Covid 19 Impact on the Overall Europe Solar Photovoltaic Panel Market

Future Market Forecast and Growth Rates of the Total Europe Solar Photovoltaic Panel Market and by Segments

Market Size of End User Industries with Historical CAGR and Future Forecasts

Analysis of Europe Solar Photovoltaic Panel Market in Major European Countries

Major Production / Consumption Hubs in the Major Countries

Major Production/Supply and Consumption/Demand Hubs in Each Major Country

Major Country-wise Historic and Future Market Growth Rates of the Total Market and Segments

Overview of Notable Emerging Europe Solar Photovoltaic Panel Companies within Each Major Country

For More Information on the research report, refer to below link: -

Europe Solar Photovoltaic Panel Market

Contact Us: -
Ken Research
Ankur Gupta, Head Marketing & Communications
Support@kenresearch.com
+91-9015378249