Greece Wind Energy Market Size (2024 - 2029)

The Greek wind energy market is poised for growth, driven by increasing demand for wind energy installations and rising investments in new projects, despite challenges posed by the COVID-19 pandemic, which delayed licensing and affected manpower. The onshore segment is anticipated to lead the market due to the growing installed capacity. However, the market's expansion may be constrained by the country's shifting focus towards solar energy for renewable electricity. Greece's National Energy and Climate Plan, which targets significant wind energy capacity by 2030, is expected to offer substantial opportunities for market development.

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Market Size of Greece Wind Energy Industry

Greece Wind Energy Market - Market Summary
Study Period 2020 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2020 - 2022
CAGR 3.00 %
Market Concentration Medium

Major Players

Greece Wind Energy Market Major Players

*Disclaimer: Major Players sorted in no particular order

Greece Wind Energy Market Analysis

The Greek wind energy market is expected to register a CAGR of more than 3% during the forecast period, 2022-2027. The COVID-19 outbreak led to delayed licensing procedures for new wind projects and inadequate manpower for ongoing wind projects. These are the major issues that affected the wind energy sector's growth due to the COVID-19 pandemic. Factors such as increasing demand for wind energy installations and rising investments in ongoing and upcoming wind energy projects are expected to drive the market during the forecast period. However, the rising emphasis on solar energy to provide renewable electricity in the country is expected to restrain Greece's wind energy market.

  • The onshore segment is expected to dominate the market, owing to the increasing onshore wind installed capacity during the forecast period.
  • Greece's National Energy and Climate Plan aims to install 7 GW of wind energy by 2030. This is expected to create several opportunities for the Greek wind energy market soon.
  • The rising emphasis on solar energy is expected to restrain the growth of the Greek wind energy during the forecast period.

Greece Wind Energy Industry Segmentation

The Greek wind energy market report includes:

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Greece Wind Energy Market Size Summary

The Greek wind energy market is poised for growth, driven by increasing demand for renewable energy installations and significant investments in wind projects. Despite challenges posed by the COVID-19 pandemic, such as delayed licensing and manpower shortages, the market is expected to expand, with the onshore segment leading the charge. Greece's National Energy and Climate Plan aims to install substantial wind energy capacity by 2030, creating opportunities for market development. However, the rising focus on solar energy, due to Greece's favorable solar conditions and lower land costs, poses a challenge to the wind energy sector's growth. Solar energy has been attracting major investments, supported by government policies and a robust project pipeline, which could potentially hinder the wind energy market's expansion.

The wind energy sector in Greece is moderately fragmented, with key players like Iberdrola SA, Vestas Wind Systems AS, and Siemens Gamesa Renewable Energy SA actively participating in the market. Recent developments include significant projects and investments, such as Terna Energy's wind projects and Iberdrola's turbine supply contract, which underscore the sector's potential. However, the solar energy sector's rapid growth and the government's commitment to increasing solar capacity by 2030 are expected to maintain solar's dominance in the renewable energy mix. This dynamic landscape suggests that while wind energy will continue to grow, it may face challenges in keeping pace with the burgeoning solar energy sector in Greece.

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Greece Wind Energy Market Size - Table of Contents

  1. 1. MARKET OVERVIEW

    1. 1.1 Introduction

    2. 1.2 Wind Energy Installed Capacity and Forecast, in MW, till 2027

    3. 1.3 Recent Trends and Developments

    4. 1.4 Government Policies and Regulations

    5. 1.5 Market Dynamics

      1. 1.5.1 Drivers

      2. 1.5.2 Restraints

    6. 1.6 Supply Chain Analysis

    7. 1.7 PESTLE Analysis

  2. 2. MARKET SEGMENTATION - BY LOCATION OF DEPLOYMENT (QUALITATIVE ANALYSIS ONLY)

    1. 2.1 Onshore

    2. 2.2 Offshore

Greece Wind Energy Market Size FAQs

The Greece Wind Energy Market is projected to register a CAGR of greater than 3% during the forecast period (2024-2029)

Vestas Wind Systems A/S, Iberdrola SA, Siemens Gamesa Renewable Energy, S.A., General Electric Company and Nordex SE are the major companies operating in the Greece Wind Energy Market.

Greece Wind Energy Report Snapshots

Greece Wind Energy Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)