Germany Renewable Energy Market Size (2024 - 2029)

The Germany Renewable Energy Market is anticipated to experience significant growth in its installed base over the forecast period, driven by supportive government policies and increasing demand for renewable energy sources. Despite challenges such as harsh climatic conditions and competition from conventional energy sources, the market is poised for expansion. The transition towards solar PV, wind, and hydroelectric power is expected to substantially contribute to the market's development, creating opportunities for further growth in the coming years.

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Market Size of Germany Renewable Energy Industry

Germany Renewable Energy Market Summary
Study Period 2020 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2020 - 2022
CAGR (2024 - 2029) 7.27 %

Major Players

Germany Renewable Energy Market Major Players

*Disclaimer: Major Players sorted in no particular order

Germany Renewable Energy Market Analysis

The Germany Renewable Energy Market size in terms of installed base is expected to grow from 170.56 gigawatt in 2024 to 241.36 gigawatt by 2029, at a CAGR of 7.27% during the forecast period (2024-2029).

  • Over the medium term, factors such as supportive government policies and efforts to meet the rising power demand using renewable energy sources are expected to grow significantly and drive the Germany renewable energy market during the forecast period.
  • On the other hand, factors like harsh climatic conditions and using other conventional energy are restraining factors for the German renewable energy market.
  • Nevertheless, by 2050, solar PV, wind, and hydro are estimated to produce approximately 85% of Germany's electricity generation, which in turn is expected to create an opportunity for the market during the forecast period.

Germany Renewable Energy Industry Segmentation

Renewable energy is the energy collected from renewable resources such as sunlight, wind, water movement, and geothermal heat that are naturally replenished.

The German renewable energy market is segmented by source. The market is segmented by source into solar, wind, hydro, bioenergy, and other types. For each segment, the market size and forecasts have been done based on installed capacity.

Source
Solar
Wind
Hydro
Bioenergy
Other Renewable Energy Sources
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Germany Renewable Energy Market Size Summary

The Germany renewable energy market is poised for significant growth, driven by supportive government policies and a commitment to meeting increasing power demands through renewable sources. The transition from fossil fuels to renewable energy is a key focus, with solar PV, wind, and hydro expected to dominate electricity generation by 2050. Despite challenges such as harsh climatic conditions and competition from conventional energy sources, the market is set to expand, with wind energy playing a pivotal role. The country's strategic initiatives, including the Renewable Energy Sources Act, are designed to bolster renewable electricity production and reduce import dependency, aligning with Germany's broader energy security goals.

Wind energy, in particular, is experiencing robust growth, supported by government targets and the inherent advantages of offshore installations. The ongoing expansion of wind capacity, both onshore and offshore, underscores its potential to lead the market. The German renewable energy sector is semi-fragmented, with key players like Siemens Gamesa Renewable Energy SA and General Electric Company contributing to its development. Recent developments, such as RWE's acquisition of a stake in the Nordseecluster offshore wind farms and Mercedes-Benz's plans for a wind farm, highlight the dynamic nature of the market. These efforts are part of a broader strategy to enhance energy security and transition towards a sustainable energy future.

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Germany Renewable Energy Market Size - Table of Contents

  1. 1. MARKET OVERVIEW

    1. 1.1 Introduction

    2. 1.2 Renewable Energy Installed Capacity Forecast, 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 Supportive Government Policies for Renewable Energy installation

        2. 1.5.1.2 Rising Efforts to Reduce Dependency over Fossil Fuel Sources of Power Generation

      2. 1.5.2 Restraints

        1. 1.5.2.1 Harsh Climatic Conditions and the Use of Other Conventional Energy

    6. 1.6 Supply Chain Analysis

    7. 1.7 PESTLE Analysis

  2. 2. MARKET SEGMENTATION

    1. 2.1 Source

      1. 2.1.1 Solar

      2. 2.1.2 Wind

      3. 2.1.3 Hydro

      4. 2.1.4 Bioenergy

      5. 2.1.5 Other Renewable Energy Sources

Germany Renewable Energy Market Size FAQs

The Germany Renewable Energy Market size is expected to reach 170.56 gigawatt in 2024 and grow at a CAGR of 7.27% to reach 241.36 gigawatt by 2029.

In 2024, the Germany Renewable Energy Market size is expected to reach 170.56 gigawatt.

Germany Renewable Energy Market Report Snapshots

Germany Renewable Energy Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)