Europe Power Market Size (2024 - 2029)

The Europe power market is anticipated to experience significant growth over the forecast period, driven by increasing urbanization and rising power demand. However, challenges such as reduced financial support and the blacklisting of certain countries may impede this growth. Despite these obstacles, the European Union's ambitious carbon emission reduction targets are expected to open substantial opportunities in the renewable energy sector, positively influencing the market size.

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Market Size of Europe Power Industry

Europe Power Market Summary
Study Period 2020 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2020 - 2022
CAGR 5.91 %
Market Concentration Low

Major Players

Europe Power Market Major Players

*Disclaimer: Major Players sorted in no particular order

Europe Power Market Analysis

The Europe power market is estimated to be at 1.85 terawatt by the end of this year and is projected to reach 2.47 terawatt in the next five years, registering a CAGR of over 5.91% during the forecast period.

  • Over the medium term, the increasing degree of urbanization and power demand is expected to drive the market.
  • On the other hand, decreased financial support and the blacklisting of countries like Bulgaria by various financial institutions will likely hinder market growth.
  • Nevertheless, the ambitious goals set by the European Union for reducing its carbon emissions are expected to create enormous opportunities in the renewable energy segment for the Europe Power Market.

Europe Power Industry Segmentation

Power is the generation of electricity through various primary sources such as coal, hydro, solar, thermal, etc. In utilities, it's a step prior to its delivery to end users. Transmission and distribution take place after the process.Under this, the power generated is distributed via high-voltage lines (transmission lines) and low-voltage lines (distribution lines) as per the requirements of the end user.

The European power market is segmented by power generation, power transmission and distribution, and geography. By power generation, the market is segmented into thermal, hydroelectric, renewable, and other types. The report also covers the market size and forecasts for the power market across major countries (Norway, Germany, the Netherlands, the United Kingdom, Italy, and the Rest of Europe) in the region. For each segment, the market sizing and forecasts have been done based on installed capacity in gigawatts (GW).

Power Generation
Thermal
Hydroelectric
Renewables
Other Types
Geography
Norway
Germany
Netherlands
The United Kingdom
Italy
Rest of Europe
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Europe Power Market Size Summary

The Europe power market is experiencing a dynamic transformation driven by increasing urbanization and rising power demand. However, challenges such as reduced financial support and geopolitical issues, like the blacklisting of countries such as Bulgaria, pose potential obstacles to market expansion. Despite these challenges, the European Union's ambitious carbon reduction targets are fostering significant opportunities in the renewable energy sector. The market is witnessing a substantial shift towards renewable energy sources, including wind, solar, and biomass, as Europe aims to enhance its energy independence and reduce reliance on fossil fuels, particularly in the wake of geopolitical tensions like the Russian invasion of Ukraine.

Germany stands out as a key player in this transition, with its robust energy transition initiatives and commitment to phasing out nuclear power by 2023. The country's increasing electricity demand, driven by population growth and infrastructure development, is being met through substantial investments in renewable energy. Germany's ambitious targets for renewable energy, particularly solar and wind power, are supported by government incentives and regulatory measures aimed at promoting solar rooftop installations. The European power market remains fragmented, with major players like Statkraft AS, Enel Green Power SpA, and Electricite de France SA actively participating in the sector's evolution. Collaborative projects, such as EDF's development of small modular reactors in Italy, highlight the ongoing efforts to align with the region's long-term carbon neutrality goals.

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Europe Power Market Size - Table of Contents

  1. 1. MARKET OVERVIEW

    1. 1.1 Introduction

    2. 1.2 Installed Power Capacity and Forecast in GW, till 2028

    3. 1.3 Recent Trends and Developments

    4. 1.4 Government Policies and Regulations

    5. 1.5 Market Dynamics

      1. 1.5.1 Drivers

        1. 1.5.1.1 Increase in Adoption of Renewable Energy Sources

      2. 1.5.2 Restraints

        1. 1.5.2.1 High Initial Investment Cost and Limited Natural Resources

    6. 1.6 Supply Chain Analysis

    7. 1.7 Porter's Five Forces Analysis

      1. 1.7.1 Bargaining Power of Suppliers

      2. 1.7.2 Bargaining Power of Consumers

      3. 1.7.3 Threat of New Entrants

      4. 1.7.4 Threat of Substitute Products and Services

      5. 1.7.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION

    1. 2.1 Power Generation

      1. 2.1.1 Thermal

      2. 2.1.2 Hydroelectric

      3. 2.1.3 Renewables

      4. 2.1.4 Other Types

    2. 2.2 Power Transmission & Distribution

    3. 2.3 Geography

      1. 2.3.1 Norway

      2. 2.3.2 Germany

      3. 2.3.3 Netherlands

      4. 2.3.4 The United Kingdom

      5. 2.3.5 Italy

      6. 2.3.6 Rest of Europe

Europe Power Market Size FAQs

The Europe Power Market is projected to register a CAGR of 5.91% during the forecast period (2024-2029)

Statkraft AS , Enel Green Power S.p.A , National Grid plc , Agder Energi SA and Electricite de France SA are the major companies operating in the Europe Power Market.

Europe Power Market Report Snapshots

Europe Power Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)