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Europe Renewable Energy Market to Aid the Global Market Growth, Expected to Grow at a CAGR of 7.6% between 2021 and 2026.

According to a new report by EMR titled, ‘Europe Renewable Energy Market Report and Forecast 2021-2026’, the Europe renewable energy market is driving the global market growth, which attained a size of 2455 gigawatts in 2020. The global market is expected to grow further at a CAGR of 7.6% between 2021 and 2026 to attain 3812 gigawatts by 2026.

The Europe renewable energy market is being boosted by the rising awareness among the people about the alarming environmental problems caused by traditional energy sources. The demand for renewable energy is thriving across all regions owing to the deteriorating environmental conditions. The regional market is dominated by hydropower and onshore wind energy.

In August 2020, the Association of Issuing Bodies (AIB) released the statistics which highlighted the usage of renewable energy in Europe, which showed a considerable increase from 2017 to 2018. The increased usage is being supported by the readily available fuel sources, especially those of wind and hydro energy. Within Europe, Germany is the country with the highest capacity installation, followed by France and Spain. In 2018, renewable energy contributed nearly 35% of the total electricity generated in Germany. The region is also exploring solar opportunities and is likely to increase its solar capacity in the coming years.

JinkoSolar Holding Co., Ltd. (NYSE: JKS) is among the largest and the most innovative producers of solar modules globally. In 2020, the company signed an agreement with COSCO Shipping Lines (Greece) S.A. to set up its distribution hub in Europe, catering to Greece, the Balkans, and the EMEA regions. JinkoSolar distributes its solar products and markets its technologies and services to diverse global retail, commercial, and residential consumer base in various countries including China, the United States, the United Kingdom, Japan, Germany, Chile, India, Mexico, Brazil, South Africa, the United Arab Emirates, Italy, Spain, France, and Belgium, among others.

Market Analysis by Type and Country:

  • The types of renewable energy in Europe include hydropower, onshore wind, solar, and bio energy, among others.
  • The major regions for the market include Germany, France, Italy, and the United Kingdom.

Key Findings of the Report:

  • The Europe renewable energy market is being driven by the growing environmental concerns regarding the use of traditional fossil-based use of fuels.
  • The increasing exploration of potential sources of energy is also propelling the market growth further.
  • The rising demand for biomass energy is also boosting the market growth for renewable energy.
  • The shift from fossil fuels to renewable energy is also driving the market growth.
  • The growing demand for electricity is also pushing the market growth further.
  • The increasing demand for sustainable development is further catalysing the market growth.
  • The rising investments by the governments on sourcing renewable energy is expected to further propel the Europe renewable energy market further.

Key Offerings of the Report:

  • The EMR report provides an overview of the Europe renewable energy market for the periods (2016-2020) and (2021-2026).
  • The report also offers the historical (2016-2020) and forecast (2021-2026) markets for the types and major countries in the renewable energy market in Europe.
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

The major key players in the Europe renewable energy market include The Juwi Holding AG, WKN GmbH, ABO Wind, Neoen and JinkoSolar Holding Co., Ltd.,  among others. The comprehensive report covers their market share, capacity, and latest developments like mergers and acquisitions, and capacity expansions.

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Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

EMR leverages its state-of-the-art technological and analytical tools, along with the expertise of its highly skilled team of over a 100 analysts and more than 3000 consultants, to help its clients, ranging from Fortune 1000 companies to small and medium sized enterprises, easily grasp the expansive industry data and help them in formulating market and business strategies, which ensure that they remain ahead of the curve.

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