European Solar Panel Market: Growth, Trends, Future forecasts 2030. AB Solar Novara snc, AM IMPIANTI di Accarini.

By Oliver Townsend Jul 3, 2024
European Solar Panel Market | Business Growth, Development Factors, Current and Future Trends till 2030 | AB Solar Novara snc AM IMPIANTI di Accarini Srl ContourGlobal PLC.jpegOrginal image from: https://www.openpr.com/news/3562758/european-solar-panel-market-business-growth-development

The European solar panel market is experiencing significant growth, estimated to have a CAGR of 11% during the forecast period. This growth is being driven by the increasing demand for solar energy and the rising incentives for renewable energy sources in the region. The government in Germany, for example, has committed to boosting the share of renewables in gross power demand to 80% by 2030, with a target of achieving 200 GW of solar energy capacity by the same year.

Impact of COVID-19 on the European Solar Panel Market

The global economy has been greatly affected by the COVID-19 pandemic, leading to changes in consumer behavior and government regulations. The European government is expected to implement regulatory measures to stimulate growth in the domestic solar energy market post-pandemic. This is likely to include promoting renewable energy sources through solar projects and government incentives to reduce reliance on fossil fuels, ultimately increasing the demand for solar panels in the region.

Market Segmentation and Company Profiles

The European solar panel market is segmented by source, product type, and applications. Companies such as Canadian Solar Inc., First Solar GmbH, and Trina Solar Ltd. are leading players in the market. The report covers market value data analysis, country-wise analysis, and key companies operating in the European solar panel market, offering insights into new product launches and market strategies.

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