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.
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
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: -
https://www.kenresearch.com/business-research/europe-solar-photovoltaic-...
Contact Us: -
Ken Research
Ankur Gupta, Head Marketing & Communications
Support@kenresearch.com
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