Planned Solar Projects and Government Incentives are Fueling the Demand for Solar Photovoltaic Panel in the Europe Market: Ken Research

 Impact of COVID-19 on Europe Solar Photovoltaic Panel Market: The shutdown of various manufacturing facilities has led to a decrease in the demand for power equipment hence affecting the solar PV panel market during the initial period of COVID-19 pandemic. Utility-scale projects had witnessed delays due to supply chain disruption, labor constraints, and construction delays for the initial few days. The distributed PV was more at risk as it relies on both individuals and SMEs who were severely affected by the Covid-19 lockdown. Despite of Covid-19 crisis the Solar PV Panel Market in Europe witnessed positive growth, owing to the continuous efforts to reach the climate goals. For instance, the Netherlands witnessed an addition of almost 3GW in 2020, and Poland grew by 28% as compared to 2019 becoming a ‘newcomer’ as it installed more than 1 GW in 2020.

Rising Prevalence of Rooftop Solar:  Over the next few years, the Solar Photovoltaic Panel market in Europe is growing due to the government policies and initiatives mandating solar panels on the rooftops of all commercial and new buildings. The new government regulation of mandating solar installation on new buildings in several cities of Germany as the country’s geography is more favorable for rooftop PV installation is likely to drive the market for rooftop solar.

Surging Demand for Utility Scale Projects: The utility segment is the largest end-user segment in the Europe Solar Photovoltaic Panel market. The large market share is attributed to a huge number of projects under construction and in pipelines. It is further aided by the growing demand for clean electricity. In Poland, the growth of utility large-scale projects is due to the fact that the country is already experiencing a shortage in energy production capacity and is likely to increase the demand for solar as the regulatory barriers are obstructing onshore wind development.

Analysts at Ken Research in their latest publication “Europe Solar Photovoltaic Panel Market Outlook and Forecast to 2027 - Driven by Favorable Policies to Achieve Carbon Neutrality by 2050 and Integrated Market Structure Enabling Fast Projects: Ken Research” believe that the Solar Photovoltaic Panel is expected to grow owing to the various government regulation of mandating panels on the rooftops of all commercial and new buildings and a huge number of projects under construction and in pipelines.

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

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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

Frequently Asked Questions:

What is the Study Period of this Market Report?

The Europe Solar Photovoltaic Panel Market is covered from 2017 – 2027 in this report, which includes a forecast for the period 2022-2027.

What is the Future Growth Rate of Europe Solar Photovoltaic Panel Market?

The Europe Solar Photovoltaic Panel Market is expected to witness a CAGR of about 19% over the next 5 years.

What are the Key Factors Driving the Europe Solar Photovoltaic Panel Market?

Net-metering system and favourable government policies are expected to be the primary drivers of this market.

Which is the Fastest Growing Technology Segment within the Europe Solar Photovoltaic Panel Market?

Monocrystalline Silicon is the fastest growing technology segment within the Europe Solar Photovoltaic Panel Market.

Who are the Key Players 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., and SoliTek are the major companies operating in Europe Solar Photovoltaic Panel Market.

Europe Solar Photovoltaic Panel Market by Technology, by Connectivity, by Deployment, by End-User, and Major Countries, Market Size and Growth, Market Outlook and Forecast by Revenue (2017-2027): Ken Research

 Solar Photovoltaic Panel Market Definition and Overview

Solar Photovoltaic (PV) Panel is a device that produces electricity from sunlight. The panels are also known as solar cells or photovoltaic modules. The photovoltaic panels are made up of small photovoltaic cells which produce about 1 or 2 watts of power and are comprised of semiconducting material, usually silicone. The cells are sandwiched between protective materials in a combination of glass or plastic to withstand outdoor conditions. When the sun shines over the solar cells an electric field is created which generates electrical energy. The PV cells can be connected in chains to form modules or panels. Several modules can be connected to form arrays or can be used individually. The arrays can be connected to an electrical grid to form a complete PV system. This modular structure helps the PV system to meet any kind of electric power need.  Hence, PV panels help in the reduction of greenhouse gas emissions and allow sustainable development for electricity production.

Europe Solar Photovoltaic Panel Market Outlook, Drivers, and Challenges

The Solar Photovoltaic Panel Market in Europe is expected to witness strong growth of at least 10% CAGR over the next five years, owing to the rise in the demand for energy and increasing incentives for the adoption of renewable energy sources in the region. Furthermore, most of the countries in Europe are either expanding/building new power plants or are shifting towards renewable sources of energy especially solar power to meet the rise in demand.

In 2021, European Commission proposed a new regulatory framework ‘Fit for 55’ to reduce Greenhouse Gases (GHG) by 55% by 2030 and achieve climate neutrality by 2050. The region also focuses on achieving the terms of the Paris Agreement which states to limit global warming to 1.5 degrees Celsius as compared to the pre-industrial level. With the signing of this agreement, the countries resolve to reduce greenhouse gas emissions by scaling up the use of renewable energy such as solar energy. Some of the additional drivers that will lead to the growth of solar panels include proposal by the European Commission for 40% renewable energy usage by 2030. The European Solar market is also driven by a net-metering system that uses a discount mechanism to balance the annual energy that was delivered and purchased. The solar PV installed in Europe grew from 10 GW in 2018 to in 17 GW 2019 such measures.

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Land accessibility is one of the major challenges in the Europe solar photovoltaic market. The difficulties are faced in accessing land for ground-mounted PV projects specifically on agricultural land.  For rooftop PV, the major challenge is the length of permitting times both at administrative and network levels. In addition, at middle and high voltage levels due to lack of grid capacity, long delays and project non-realization are the challenges.

Europe Solar Photovoltaic Panel Market Value Chain Analysis

The solar photovoltaic panel value chain consists of a raw material provider that provides raw materials such as crystalline silicon, thin film, and others. Raw materials are then processed into ingot casting and wafer manufacturing to form the solar cells by the manufacturers. The solar cells are interconnected in matrix to form Solar Module. Several solar modules are connected to form solar panels by photovoltaic panel manufacturers. The solar panels are used by solar energy equipment assemblers to build solar energy plants which are distributed through different channels to the end-user segments such as residential, commercial, industrial, and utilities sectors.

 

Europe Solar Photovoltaic Panel Market Segmentation

Europe solar photovoltaic panel market can be segmented by type of Technology into categories such as Monocrystalline Silicon, Thin Film and Polycrystalline Silicon. Based on the Connectivity, the market is categorized as On-Grid and Off-Grid. Based on Deployment, the market is categorized as Ground-Mounted and Rooftop Solar. From the demand side, the market can be segmented into Residential, Commercial, Industrial and Utilities categories. Geographically, the major country markets in Europe are Germany, Spain, the Netherlands, France and Poland.

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Europe Solar Photovoltaic Panel Market Competitive Landscape of Major Competitors

Some key competitors in the Europe solar photovoltaic panel market are Hanwha, JinkoSolar Holding Co., Ltd, First Solar, JA Solar Technology Co., Ltd, Canadian Solar Inc. and Trina Solar Co., Ltd.

Impact of Covid-19 on Europe Solar Photovoltaic Panel Market

The shutdown of various manufacturing facilities has led to a decrease in the demand for the power equipment hence affecting the solar PV panel market. Utility-scale projects had witnessed delays due to supply chain disruption, labor constraints, and construction delays for the initial few days. The distributed PV was more at risk as it relies on both individuals and SMEs who were severely affected by the Covid-19 lockdown. Despite of Covid-19 crisis the Solar PV Panel Market in Europe witnessed positive growth, owing to the continuous efforts to reach the climate goals. For instance, the Netherlands witnessed an addition of almost 3GW in 2020, and Poland grew by 28% as compared to 2019 becoming a ‘newcomer’ as it installed more than 1 GW in 2020.

Key Segments Covered in Europe Solar Photovoltaic Panel Market:-

Europe Solar Photovoltaic Panel Market By Technology

Monocrystalline Silicon

Thin Film

Polycrystalline Silicon

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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

Europe Solar Photovoltaic Panel Market, By Geography and Major Countries

Germany

Spain

The Netherlands

France

Poland

Key Competitors in Europe Solar Photovoltaic Panel Market:-

Hanwha

JinkoSolar Holding Co., Ltd

First Solar

JA Solar Technology Co., Ltd

Canadian Solar Inc.

Trina Solar Co., Ltd

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Time Period Captured in the Report:-

Historical Period: 2017-2021

Forecast Period: 2022-2027F

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

For any queries or feedback, reach out to the author at Support@kenresearch.com

Contact Us:-

Ken Research

Ankur Gupta, Head Marketing & Communications

ankur@kenresearch.com

+91-9015378249