Market Size of Italy Renewable Energy Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | 7.10 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Italy Renewable Energy Market Analysis
The Italian renewable energy market is expected to register a CAGR of more than 7.1% during the forecast period, 2022-2027. The COVID-19 impact on the Italian renewable energy market was not explicitly noticeable. The country witnessed a growth of around 0.8% in its renewable power installed capacity in 2019-2020, mainly from solar PV and wind power installations. The Italian renewable energy market is expected to have robust growth in the coming years. The increase will be attributed to two main factors, favorable weather conditions and the availability of substantial funds raised by national and regional forums. However, the market can face bottlenecks due to the dispatch-flexibility issues, as renewables do not provide short-term flexibility as other traditional fuels; instead, they need long-term backup plans.
- The solar type sub-segment is expected to dominate the Italian renewable energy market due to increased solar photovoltaic (PV) installations.
- The country has planned a complete phase-out of coal-fired power by 2025. The national energy plans' targets to reduce carbon emissions have prompted the country to eliminate nuclear and coal fuels from the energy mix. The initiative is expected to create ample opportunities for the renewables-based energy market.
- The Italian government and European Union (EU)'s policies to assist renewable power generation are expected to render tremendous growth to the market.
Italy Renewable Energy Industry Segmentation
The Italian renewable energy market report includes:
| Type | |
| Solar | |
| Wind | |
| Hydro | |
| Other Types (Geothermal and Tidal)) |
Italy Renewable Energy Market Size Summary
The Italian renewable energy market is poised for significant expansion, driven by favorable weather conditions and substantial financial support from national and regional entities. The market's growth is primarily fueled by the solar photovoltaic (PV) segment, which is expected to dominate due to increased installations. The Italian government's commitment to phasing out coal-fired power by 2025 and reducing carbon emissions has created a conducive environment for renewable energy development. Policies from the Italian government and the European Union are further bolstering the market, providing a framework for substantial growth in renewable power generation.
Investments in solar technology have surged, with international and private players contributing to the rapid increase in solar-generated power. The decline in costs for residential photovoltaic systems has also spurred demand, enhancing the solar market's trajectory. The Italian government's plans to increase the share of renewables in power generation and achieve significant solar capacity by 2030 are set to drive further market expansion. Additionally, ongoing projects and policy initiatives, such as the Simplification Decree and investments in transmission links, are expected to mitigate bottlenecks and support the renewable energy sector's growth in the coming years.
Italy 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 Market Size and Demand in USD billion, 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 Type
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2.1.1 Solar
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2.1.2 Wind
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2.1.3 Hydro
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2.1.4 Other Types (Geothermal and Tidal))
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Italy Renewable Energy Market Size FAQs
What is the current Italy Renewable Energy Market size?
The Italy Renewable Energy Market is projected to register a CAGR of greater than 7.10% during the forecast period (2024-2029)
Who are the key players in Italy Renewable Energy Market?
Enel Green Power S.p.A., ERG SpA, EF Solare Italia SpA, Gruppo STG S.r.l and Vestas Wind Systems A/S are the major companies operating in the Italy Renewable Energy Market.
