Market Size of South Europe Renewable Energy Industry
| Study Period | 2021 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2021 - 2022 |
| CAGR | 6.00 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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South Europe Renewable Energy Market Analysis
The South Europe Renewable Energy Market is expected to grow at a CAGR of more than 6% during the forecast period.
The market was negatively impacted by COVID-19 in 2020. Currently. The market has reached pre-pandemic levels.
- Over the long term, factors such as supportive government policies and efforts to meet power demand using renewables and decrease dependency on fossils are the long-term drivers of the market's growth.
- On the other hand, factors such as increased environmental awareness and regulations and decreased cost per kilowatt of electricity generated from renewables are expected to boost the market in the long term. On the other hand, the high price of renewable energy storage is expected to restrain the market.
- Nevertheless, new technologies and materials like the latest research on the perovskites are expected to increase the efficiency of the cells, coupled with government focus to decrease dependence on imported fossil fuels fuel are likely to act as potential opportunities.
- Italy is expected to have the largest share of renewable energy among the nations in the forecast period due to its significant electricity consumption and government focus on decreasing dependence on imported fossil fuels. The country is also expected to invest in the research and development of renewable energy, which is likely to aid in market growth.
South Europe Renewable Energy Industry Segmentation
Renewable energy is a form of energy obtained from a source that can be replenished over time and leaves a negligible carbon footprint on the environment upon utilization. Renewable energy sources include solar, wind, geothermal, biomass, water, and tides. Renewable energy is often termed an alternative energy source as it is an alternative to fossil fuels.
The South Europe Renewable Energy Market is segmented by type and geography. By type, the market is segmented into hydropower, solar, wind, and others. The report also covers the market size and forecasts for the renewable market across major countries in the region. For each segment, the market sizing and forecasts have been done based on installed capacity (GW).
| Type | |
| Hydropower | |
| Solar | |
| Wind | |
| Others |
| Geography | |
| Italy | |
| Spain | |
| Portugal | |
| Others |
South Europe Renewable Energy Market Size Summary
The South Europe Renewable Energy Market is poised for significant growth, driven by supportive government policies and a shift towards renewable energy sources to reduce reliance on fossil fuels. The market has rebounded to pre-pandemic levels after the setbacks caused by COVID-19. Key factors propelling this growth include increased environmental awareness, regulatory support, and decreasing costs of renewable energy generation. However, challenges such as the high cost of renewable energy storage could pose constraints. Technological advancements, particularly in materials like perovskites, offer promising opportunities to enhance energy efficiency. Italy is expected to lead the market due to its substantial electricity consumption and commitment to reducing fossil fuel imports, alongside investments in renewable energy research and development.
Wind energy is the dominant form of renewable energy in South Europe, with significant potential for both onshore and offshore installations. Countries like France, Greece, Italy, Portugal, and Spain are focusing on expanding their wind energy capacity, with ambitious targets for offshore wind installations. Despite being relatively developed, South European countries continue to invest in renewable energy to meet future electricity demands and achieve net-zero goals. Italy, in particular, is rapidly advancing its renewable energy infrastructure, with plans for substantial new installations to reduce gas import dependency. The market is characterized by partial fragmentation, with key players such as Enel Green Power S.p.A., ContourGlobal PLC, and Acciona SA actively contributing to the sector's growth.
South Europe 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 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 Porter's Five Forces Analysis
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1.7.1 Bargaining Power of Suppliers
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1.7.2 Bargaining Power of Consumers
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1.7.3 Threat of New Entrants
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1.7.4 Threat of Substitutes Products and Services
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1.7.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 Type
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2.1.1 Hydropower
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2.1.2 Solar
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2.1.3 Wind
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2.1.4 Others
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2.2 Geography
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2.2.1 Italy
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2.2.2 Spain
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2.2.3 Portugal
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2.2.4 Others
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South Europe Renewable Energy Market Size FAQs
What is the current South Europe Renewable Energy Market size?
The South Europe Renewable Energy Market is projected to register a CAGR of greater than 6% during the forecast period (2024-2029)
Who are the key players in South Europe Renewable Energy Market?
Enel Green Power S.p.A., Contour Global PLC, Acciona S.A., Abengoa SA and Energias de Portugal SA are the major companies operating in the South Europe Renewable Energy Market.
