Market Size of Greece Renewable Energy Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | 4.20 % |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Greece Renewable Energy Market Analysis
The Greek renewable energy market is expected to witness a CAGR greater than 4.2% during the forecast period, 2022-2027. After the financial crisis, the economy of Greece was recovering steadily, and after the COVID-19 pandemic, the country fell into another financial crisis which adversely affected the renewable energy market in the country. Greece has a high potential for renewable energy, majorly wind, solar, and geothermal will be a significant driver to the market, coupled with the country's effort to meet European environmental standards to reduce carbon emissions. However, the fluctuating economy in the country is expected to be a significant restraint on the market.
- Wind energy is expected to be the fastest-growing segment in the country due to its high potential in the country.
- According to the European Commission, the country aims to cover 61% of its electricity consumption from renewable sources, which is expected to create several opportunities for renewable energy in the future.
- Supportive government policies are expected to become the major driver for the renewable energy segment in the country.
Greece Renewable Energy Industry Segmentation
The Greek renewable energy market report includes:
| Source | |
| Wind | |
| Solar | |
| Hydro | |
| Other Sources |
Greece Renewable Energy Market Size Summary
The renewable energy market in Greece is poised for growth, driven by the country's substantial potential in wind, solar, and geothermal energy. Despite economic challenges, including the aftermath of the financial crisis and the impact of the COVID-19 pandemic, Greece is making strides towards meeting European environmental standards aimed at reducing carbon emissions. The government's supportive policies are expected to play a crucial role in advancing the renewable energy sector, with wind energy anticipated to be the fastest-growing segment due to its high potential. The European Commission's goal for Greece to cover a significant portion of its electricity consumption with renewable sources is expected to create numerous opportunities in the market.
Greece has set ambitious targets to enhance renewable energy adoption and improve energy efficiency, aiming to significantly reduce fossil fuel consumption by 2030. The Greek government, in collaboration with the European Commission, is implementing reforms and investments under the Recovery Resilience Plan to promote clean energy. Financial support schemes and substantial investments are being directed towards renewable energy projects, including offshore wind power, which are expected to drive market growth. The renewable energy market in Greece is moderately fragmented, with key players such as Enel Green Power and Terna Energy SA actively participating in the sector.
Greece Renewable Energy Market Size - Table of Contents
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1. MARKET OVERVIEW
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1.1 Introduction
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1.2 Renewable Energy Installed Capacity and Forecast, in GW, till 2027
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1.3 Recent Trends and Developments
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1.4 Government Policies and Regulations
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1.5 Market Dynamics
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1.5.1 Drivers
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1.5.2 Restraints
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1.6 Supply Chain Analysis
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1.7 PESTLE Analysis
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2. MARKET SEGMENTATION
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2.1 Source
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2.1.1 Wind
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2.1.2 Solar
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2.1.3 Hydro
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2.1.4 Other Sources
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Greece Renewable Energy Market Size FAQs
What is the current Greece Renewable Energy Market size?
The Greece Renewable Energy Market is projected to register a CAGR of greater than 4.20% during the forecast period (2024-2029)
Who are the key players in Greece Renewable Energy Market?
Enel Green Power, VSB Renewable Energy Hellas L.L.C., Terna Energy S.A., Eunice Energy Group (EEG) and Public Power Corporation S.A. are the major companies operating in the Greece Renewable Energy Market.
