The Europe Solar Power Equipment Market would witness market growth of 10.7% CAGR during the forecast period (2021-2027).
Solar panels are low-maintenance and can last for more than 30 years. Batteries can be used to store extra power for use at night. Solar energy has also benefited industries in improving their environmental profiles and lowering their operational expenses by allowing them to adopt it. The cost of solar equipment has decreased due to a significant number of technological developments, making it more affordable to household consumers. Additionally, technological improvements such as the advent of smart tracking systems have improved the efficiency of these solar power systems dramatically. Moreover, as fossil fuel reserves deplete, effective utilization of renewable energy sources has become a fundamental requirement.
In emerging markets, new solar power projects are launched and developed at a quick speed. The market for solar power equipment is likely to benefit greatly from greater emphasis on the usage of environment-friendly and green energy. All of these factors would drive the solar power equipment market.
According to the data shared by the European Commission, solar power already provides a major contribution to the European energy mix with 3.6 percent of EU-28 total electricity generation in 2017. Solar power can become a major source of renewable energy in this region, with lower generation costs and more efficiency in converting sunshine to energy. In addition, Photovoltaics concentrated solar power, and solar heating and cooling are becoming the major focus of research and development. Solar-powered solutions for the generation of home hot water, district heating, as well as industrial or commercial uses are being developed through EU research and innovation.
Moreover, as per the Department for Business, Energy, and Industrial Strategy, between 2019 and 2020, a solar generation grew by 4.6%. The biggest rise of 5.2% occurred in England, followed by minor increases of 1.3% in Wales and by 0.3% in Scotland. These increases were fueled by a 1.8% rise in de-rated solar capacity across the UK in comparison to 2019, as well as a slight increase in sun hours within the county.
The Germany market dominated the Europe Solar Power Equipment Market by Country in 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $11,717 Million by 2027. The UK market is experiencing a CAGR of 11.6% during (2021 - 2027). Additionally, The France market would witness a CAGR of 11.6% during (2021 - 2027).
Based on Equipment, the market is segmented into Solar Panels, Mounting, Racking, & Tracking System, and Storage System, and Others. Based on Application, the market is segmented into Utility, Residential, and Non-Residential. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Global Solar Power Equipment Market Size will Hit $202.4 Billion by 2027, at a CAGR of 11.3%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Canadian Solar Inc., First Solar, Inc., Hanwha Q CELLS Co., Ltd., LONGi Green Energy Technology Co., Ltd., SunPower Corporation, Shunfeng International Clean Energy Co., Ltd., Jinko Solar Holding Co., Ltd., Trina Solar Co., Ltd., JA Solar Holdings Co., Ltd., and ABB Group.
Scope of the Study
Market Segments Covered in the Report:
By Equipment
- Solar Panels
- Mounting, Racking, & Tracking System
- Storage System
- Others
By Application
- Utility
- Residential
- Non-Residential
By Country
- Germany
- UK
- France
- Russia
- Spain
- Italy
- Rest of Europe
Key Market Players
List of Companies Profiled in the Report:
- Canadian Solar Inc.
- First Solar, Inc.
- Hanwha Q CELLS Co., Ltd.
- LONGi Green Energy Technology Co., Ltd.
- SunPower Corporation
- Shunfeng International Clean Energy Co., Ltd.
- Jinko Solar Holding Co., Ltd.
- Trina Solar Co., Ltd.
- JA Solar Holdings Co., Ltd.
- ABB Group
Chapter 1. Market Scope & Methodology
1.1 Market Definition
1.2 Objectives
1.3 Market Scope
1.4 Segmentation
1.4.1 Europe Solar Power Equipment Market, by Equipment
1.4.2 Europe Solar Power Equipment Market, by Application
1.4.3 Europe Solar Power Equipment Market, by Country
1.5 Methodology for the research
Chapter 2. Market Overview
2.1 Introduction
2.1.1 Overview
2.1.1.1 Market Composition and Scenario
2.2 Key Factors Impacting the Market
2.2.1 Market Drivers
2.2.2 Market Restraints
Chapter 3. Competition Analysis - Global
3.1 KBV Cardinal Matrix
3.2 Recent Industry Wide Strategic Developments
3.2.1 Partnerships, Collaborations and Agreements
3.2.2 Product Launches and Product Expansions
3.2.3 Acquisition and Mergers
3.2.4 Business Expansions
3.2.5 Geographical Expansions
3.3 Top Winning Strategies
3.3.1 Key Leading Strategies: Percentage Distribution (2017-2021)
3.3.2 Key Strategic Move: (Product Launches and Product Expansions: 2020, Feb – 2022, Feb) Leading Players
Chapter 4. Europe Solar Power Equipment Market by Equipment
4.1 Europe Solar Panels Market by Country
4.2 Europe Mounting, Racking, & Tracking System Market by Country
4.3 Europe Storage System Market by Country
4.4 Europe Others Market by Country
Chapter 5. Europe Solar Power Equipment Market by Application
5.1 Europe Utility Market by Country
5.2 Europe Residential Market by Country
5.3 Europe Non-Residential Market by Country
Chapter 6. Europe Solar Power Equipment Market by Country
6.1 Germany Solar Power Equipment Market
6.1.1 Germany Solar Power Equipment Market by Equipment
6.1.2 Germany Solar Power Equipment Market by Application
6.2 UK Solar Power Equipment Market
6.2.1 UK Solar Power Equipment Market by Equipment
6.2.2 UK Solar Power Equipment Market by Application
6.3 France Solar Power Equipment Market
6.3.1 France Solar Power Equipment Market by Equipment
6.3.2 France Solar Power Equipment Market by Application
6.4 Russia Solar Power Equipment Market
6.4.1 Russia Solar Power Equipment Market by Equipment
6.4.2 Russia Solar Power Equipment Market by Application
6.5 Spain Solar Power Equipment Market
6.5.1 Spain Solar Power Equipment Market by Equipment
6.5.2 Spain Solar Power Equipment Market by Application
6.6 Italy Solar Power Equipment Market
6.6.1 Italy Solar Power Equipment Market by Equipment
6.6.2 Italy Solar Power Equipment Market by Application
6.7 Rest of Europe Solar Power Equipment Market
6.7.1 Rest of Europe Solar Power Equipment Market by Equipment
6.7.2 Rest of Europe Solar Power Equipment Market by Application
Chapter 7. Company Profiles
7.1 Canadian Solar Inc.
7.1.1 Company Overview
7.1.2 Financial Analysis
7.1.3 Segmental and Regional Analysis
7.1.4 Research & Development Expenses
7.2 First Solar, Inc.
7.2.1 Company Overview
7.2.2 Financial Analysis
7.2.3 Segmental and Regional Analysis
7.2.4 Research & Development Expenses
7.3 Hanwha Q CELLS Co., Ltd. (Hanwha Group)
7.3.1 Company Overview
7.3.2 Recent strategies and developments:
7.3.2.1 Partnerships, Collaborations, and Agreements:
7.3.2.2 Product Launches and Product Expansions:
7.3.2.3 Acquisition and Mergers:
7.4 LONGi Green Energy Technology Co., Ltd.
7.4.1 Company Overview
7.4.2 Recent strategies and developments:
7.4.2.1 Product Launches and Product Expansions:
7.5 SunPower Corporation (Infineon Technologies AG)
7.5.1 Company Overview
7.5.2 Financial Analysis
7.5.3 Segmental Analysis
7.5.4 Research & Development Expenses
7.5.5 Recent strategies and developments:
7.5.5.1 Partnerships, Collaborations, and Agreements:
7.5.5.2 Product Launches and Product Expansions:
7.5.5.3 Acquisition and Mergers:
7.6 Shunfeng International Clean Energy Co., Ltd.
7.6.1 Company Overview
7.6.2 Financial Analysis
7.6.3 Segmental and Regional Analysis
7.6.4 Research & Development Expenses
7.7 Jinko Solar Holding Co., Ltd.
7.7.1 Company Overview
7.7.2 Financial Analysis
7.7.3 Regional Analysis
7.7.4 Research & Development Expenses
7.7.5 Recent strategies and developments:
7.7.5.1 Partnerships, Collaborations, and Agreements:
7.8 Trina Solar Co., Ltd.
7.8.1 Company Overview
7.8.2 Recent strategies and developments:
7.8.2.1 Product Launches and Product Expansions:
7.8.2.2 Acquisition and Mergers:
7.8.2.3 Business Expansions:
7.9 JA Solar Holdings Co., Ltd.
7.9.1 Company Overview
7.9.2 Recent strategies and developments:
7.9.2.1 Partnerships, Collaborations, and Agreements:
7.9.2.2 Product Launches and Product Expansions:
7.10. ABB Group
7.10.1 Company Overview
7.10.2 Financial Analysis
7.10.3 Segmental and Regional Analysis
7.10.4 Research & Development Expense
7.10.5 Recent strategies and developments:
7.10.5.1 Geographical Expansions:
TABLE 1 Europe Solar Power Equipment Market, 2017 - 2020, USD Million
TABLE 2 Europe Solar Power Equipment Market, 2021 - 2027, USD Million
TABLE 3 Partnerships, Collaborations and Agreements – Solar Power Equipment Market
TABLE 4 Product Launches And Product Expansions – Solar Power Equipment Market
TABLE 5 Acquisition and Mergers – Solar Power Equipment Market
TABLE 6 Business Expansions – Solar Power Equipment Market
TABLE 7 Geographical Expansions – Solar Power Equipment Market
TABLE 8 Europe Solar Power Equipment Market by Equipment, 2017 - 2020, USD Million
TABLE 9 Europe Solar Power Equipment Market by Equipment, 2021 - 2027, USD Million
TABLE 10 Europe Solar Panels Market by Country, 2017 - 2020, USD Million
TABLE 11 Europe Solar Panels Market by Country, 2021 - 2027, USD Million
TABLE 12 Europe Mounting, Racking, & Tracking System Market by Country, 2017 - 2020, USD Million
TABLE 13 Europe Mounting, Racking, & Tracking System Market by Country, 2021 - 2027, USD Million
TABLE 14 Europe Storage System Market by Country, 2017 - 2020, USD Million
TABLE 15 Europe Storage System Market by Country, 2021 - 2027, USD Million
TABLE 16 Europe Others Market by Country, 2017 - 2020, USD Million
TABLE 17 Europe Others Market by Country, 2021 - 2027, USD Million
TABLE 18 Europe Solar Power Equipment Market by Application, 2017 - 2020, USD Million
TABLE 19 Europe Solar Power Equipment Market by Application, 2021 - 2027, USD Million
TABLE 20 Europe Utility Market by Country, 2017 - 2020, USD Million
TABLE 21 Europe Utility Market by Country, 2021 - 2027, USD Million
TABLE 22 Europe Residential Market by Country, 2017 - 2020, USD Million
TABLE 23 Europe Residential Market by Country, 2021 - 2027, USD Million
TABLE 24 Europe Non-Residential Market by Country, 2017 - 2020, USD Million
TABLE 25 Europe Non-Residential Market by Country, 2021 - 2027, USD Million
TABLE 26 Europe Solar Power Equipment Market by Country, 2017 - 2020, USD Million
TABLE 27 Europe Solar Power Equipment Market by Country, 2021 - 2027, USD Million
TABLE 28 Germany Solar Power Equipment Market, 2017 - 2020, USD Million
TABLE 29 Germany Solar Power Equipment Market, 2021 - 2027, USD Million
TABLE 30 Germany Solar Power Equipment Market by Equipment, 2017 - 2020, USD Million
TABLE 31 Germany Solar Power Equipment Market by Equipment, 2021 - 2027, USD Million
TABLE 32 Germany Solar Power Equipment Market by Application, 2017 - 2020, USD Million
TABLE 33 Germany Solar Power Equipment Market by Application, 2021 - 2027, USD Million
TABLE 34 UK Solar Power Equipment Market, 2017 - 2020, USD Million
TABLE 35 UK Solar Power Equipment Market, 2021 - 2027, USD Million
TABLE 36 UK Solar Power Equipment Market by Equipment, 2017 - 2020, USD Million
TABLE 37 UK Solar Power Equipment Market by Equipment, 2021 - 2027, USD Million
TABLE 38 UK Solar Power Equipment Market by Application, 2017 - 2020, USD Million
TABLE 39 UK Solar Power Equipment Market by Application, 2021 - 2027, USD Million
TABLE 40 France Solar Power Equipment Market, 2017 - 2020, USD Million
TABLE 41 France Solar Power Equipment Market, 2021 - 2027, USD Million
TABLE 42 France Solar Power Equipment Market by Equipment, 2017 - 2020, USD Million
TABLE 43 France Solar Power Equipment Market by Equipment, 2021 - 2027, USD Million
TABLE 44 France Solar Power Equipment Market by Application, 2017 - 2020, USD Million
TABLE 45 France Solar Power Equipment Market by Application, 2021 - 2027, USD Million
TABLE 46 Russia Solar Power Equipment Market, 2017 - 2020, USD Million
TABLE 47 Russia Solar Power Equipment Market, 2021 - 2027, USD Million
TABLE 48 Russia Solar Power Equipment Market by Equipment, 2017 - 2020, USD Million
TABLE 49 Russia Solar Power Equipment Market by Equipment, 2021 - 2027, USD Million
TABLE 50 Russia Solar Power Equipment Market by Application, 2017 - 2020, USD Million
TABLE 51 Russia Solar Power Equipment Market by Application, 2021 - 2027, USD Million
TABLE 52 Spain Solar Power Equipment Market, 2017 - 2020, USD Million
TABLE 53 Spain Solar Power Equipment Market, 2021 - 2027, USD Million
TABLE 54 Spain Solar Power Equipment Market by Equipment, 2017 - 2020, USD Million
TABLE 55 Spain Solar Power Equipment Market by Equipment, 2021 - 2027, USD Million
TABLE 56 Spain Solar Power Equipment Market by Application, 2017 - 2020, USD Million
TABLE 57 Spain Solar Power Equipment Market by Application, 2021 - 2027, USD Million
TABLE 58 Italy Solar Power Equipment Market, 2017 - 2020, USD Million
TABLE 59 Italy Solar Power Equipment Market, 2021 - 2027, USD Million
TABLE 60 Italy Solar Power Equipment Market by Equipment, 2017 - 2020, USD Million
TABLE 61 Italy Solar Power Equipment Market by Equipment, 2021 - 2027, USD Million
TABLE 62 Italy Solar Power Equipment Market by Application, 2017 - 2020, USD Million
TABLE 63 Italy Solar Power Equipment Market by Application, 2021 - 2027, USD Million
TABLE 64 Rest of Europe Solar Power Equipment Market, 2017 - 2020, USD Million
TABLE 65 Rest of Europe Solar Power Equipment Market, 2021 - 2027, USD Million
TABLE 66 Rest of Europe Solar Power Equipment Market by Equipment, 2017 - 2020, USD Million
TABLE 67 Rest of Europe Solar Power Equipment Market by Equipment, 2021 - 2027, USD Million
TABLE 68 Rest of Europe Solar Power Equipment Market by Application, 2017 - 2020, USD Million
TABLE 69 Rest of Europe Solar Power Equipment Market by Application, 2021 - 2027, USD Million
TABLE 70 Key Information – Canadian Solar Inc.
TABLE 71 Key Information – First Solar, Inc.
TABLE 72 Key Information – Hanwha Q CELLS Co., Ltd.
TABLE 73 Key Information – LONGi Green Energy Technology Co., Ltd.
TABLE 74 Key Information – SunPower Corporation
TABLE 75 Key Information – Shunfeng International Clean Energy Co., Ltd.
TABLE 76 Key information – Jinko Solar Holding Co., Ltd.
TABLE 77 Key information – Trina Solar Co., Ltd.
TABLE 78 Key information – JA SOLAR Technology Co., Ltd.
TABLE 79 Key Information – ABB Group
List of Figures
FIG 1 Methodology for the research
FIG 2 KBV Cardinal Matrix
FIG 3 Key Leading Strategies: Percentage Distribution (2017-2021)
FIG 4 Key Strategic Move: (Product Launches and Product Expansions : 2020, Feb – 2022, Feb) Leading Players
FIG 5 Recent strategies and developments: Hanwha Q CELLS Co., Ltd.
FIG 6 Recent strategies and developments: SunPower Corporation
FIG 7 Recent strategies and developments: Trina Solar Co., Ltd.
FIG 8 Recent strategies and developments: JA Solar Holdings Co., Ltd.