Market Size of France Renewable Energy Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | > 7.40 % |
| Market Concentration | Medium |
Major Players.webp)
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
France Renewable Energy Market Analysis
The French renewable energy market is expected to witness a CAGR of greater than 7.4% during the forecast period, 2022-2027. France has been one of the worst affected countries due to the COVID-19 pandemic and was the first to implement large-scale lockdowns and enact bans on the freedom of movement. As a result, renewable energy manufacturers and service providers reduced output significantly, and manufacturers further slowed down the value chain and felt the economic impact of the pandemic. Even though the country did not meet its specified renewable energy targets in 2020, there was an increase of 2 GW of renewable energy installed capacity. However, in October 2021, the French Recovery Plan from COVID-19 was formulated, and the government announced a EUR 30 billion investment plan for 2030, including EUR 8 billion dedicated to energy technology investment in the decarbonization of industry. This has made a positive impact on the renewable energy market in the country. Major factors driving the market include declining lithium-ion battery prices and rapid adoption of electric vehicles due to the growing renewable sector. On the other hand, electricity generation from nuclear is likely to hinder the growth of renewable energy.
- The solar energy segment is expected to dominate the market during the forecast period, owing to increasing solar PV installations across the country.
- Plans to integrate renewable energy with the national grids are expected to create a significant amount of opportunity for the renewable energy market in the near future.
- Electricity generation from nuclear energy is expected to restrain France's renewable energy market during the forecast period.
France Renewable Energy Industry Segmentation
The scope of the French Renewable Energy Market report includes:
| By Type | |
| Solar | |
| Wind | |
| Hydro | |
| Other Types |
France Renewable Energy Market Size Summary
The French renewable energy market is poised for significant growth, driven by a combination of government initiatives and technological advancements. Despite the challenges posed by the COVID-19 pandemic, which initially slowed down the sector, France has made substantial investments to boost its renewable energy capacity. The government's Recovery Plan, with a focus on decarbonizing industry, has positively impacted the market. Key drivers include the decreasing costs of lithium-ion batteries and the increasing adoption of electric vehicles, which are closely linked to the expansion of renewable energy. However, the dominance of nuclear energy in France's electricity generation poses a challenge to the growth of renewables, as it continues to account for a significant portion of the country's energy mix.
Solar energy is expected to be the leading segment within the renewable sector, supported by ambitious targets and policies aimed at expanding solar photovoltaic installations. France's Multi-Year Energy Program and various government measures are set to accelerate solar power development, with a focus on integrating renewable energy into national grids. The country's commitment to increasing solar capacity is evident in its plans to install substantial gigawatts of solar power by 2028. Despite the strong push for solar energy, the reliance on nuclear power remains a significant constraint, as it continues to be a major source of electricity. The market is moderately fragmented, with key players like Engie SA, EDF Renewables, and TotalEnergies SE actively contributing to the sector's development.
France Renewable Energy Market Size - Table of Contents
-
1. MARKET OVERVIEW
-
1.1 Introduction
-
1.2 Renewable Energy Installed Capacity and Forecast, in GW, till 2027
-
1.3 Recent Trends and Developments
-
1.4 Government Policies and Regulations
-
1.5 Market Dynamics
-
1.5.1 Drivers
-
1.5.2 Restraints
-
-
1.6 Supply Chain Analysis
-
1.7 PESTEL Analysis
-
-
2. MARKET SEGMENTATION
-
2.1 By Type
-
2.1.1 Solar
-
2.1.2 Wind
-
2.1.3 Hydro
-
2.1.4 Other Types
-
-
France Renewable Energy Market Size FAQs
What is the current France Renewable Energy Market size?
The France Renewable Energy Market is projected to register a CAGR of greater than 7.40% during the forecast period (2024-2029)
Who are the key players in France Renewable Energy Market?
EDF Renewables, Engie SA, Vestas, TotalEnergies SE and Siemens Gamesa Renewable Energy SA are the major companies operating in the France Renewable Energy Market.
