Hungary Renewable Energy Market

Hungary Renewable Energy Market by Source (Solar, Wind, Biofuel, Hydropower, and Others) and Country - Industry Analysis, Growth, Share, Size, Trends, and Forecast 2021 – 2028

  • Report ID: EP-2733
  • Author: Growth Market Reports
  • Rating: 4.8
  • Total Reviews: 2
  • No. Of Pages: 188
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The Hungary renewable energy market size is expected to expand at a significant CAGR during the forecast period, 2021–2028. The growth of the market is attributed to the expanding renewable energy installation capacity and planned projects in order to meet their long-term carbon-free goal.

Hungary is considered a medium power in international affairs, owing to its cultural and economic clout. It is a developed country with a high-income economy that scores extremely high on the Human Development Index, with universal health care and tuition-free secondary education for its residents.

Hungary Renewable Energy Market summary

Hungary road, rail, aviation, and water transportation systems are all well-developed. Budapest, Hungary capital has the world's second-oldest subterranean metro system.

Hungary is a member of the European Union, and as such, it participates in the EU's renewable energy plan. The EU approved the renewable energy directive in 2009, which set a 20 percent renewable energy target for the EU by 2020. Wind should provide 26-35 percent of the EU's power by 2030, saving Europe €56 billion in avoided fuel expenses per year. Hungary's national authors predict that 14.7 percent of total energy consumption will be renewable by 2020, above their 13 percent binding objective by 1.7 percentage points.

Renewable energies contributed for almost 10% of Hungary electrical output in 2018. The government is counting on biomass and solar energy to meet its self-imposed goal of generating at least 14.65 percent of its power from renewable sources during forecast period.

In 2019, 653 megawatts of additional capacity were added to the system (2018: 410 megawatts). Hungary has a total installed solar capacity of 1,450 megawatts by the end of 2019. By 2023, the Solar Europe Association forecasts the industry to have grown to more than 3,700 megawatts.

Hungary was formerly one of the EU's most coal-dependent members; now, with the EU boosting lignite costs as a means of decreasing greenhouse gas emissions, Hungary is moving its attention to renewables as its primary source of energy.

According to Hungary government that a forecasted price decrease of up to 30% in photovoltaics will allow the nation to achieve the EU's planned energy rules, which require all 28 EU countries to get 20% of their energy from renewable sources by 2020.

Market Trends, Drivers, Restraints, and Opportunities

  • Increasing demand for carbon-free electricity is anticipated to boost the market in the coming years.
  • Rising pressure for reduction in carbon emission is projected to drive the market during the forecast period.
  • The European Union was encouraged to increase the cost of a pollution permit in a year due to the frequency of climate change consequences.
  • Rapid growth in power-driven transportation is the main factor driving the market during the forecast period.
  • High investments in development of renewal power projects are expected to hamper the market growth.
  • Global pandemic covid -19 has affected the energy market adversely due to negative demand and temporary delay in renewable energy projects.

Scope of the Report

The report on Hungary renewable energy Market the global market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Attributes

Details

Report Title

Hungary Renewable Energy Market - Industry Analysis, Growth, Share, Size, Trends, and Forecast

Base Year

2020

Historic Data

2018–2019

Forecast Period

2021–2028

Segmentation

Types (Solar, Hydro, Bioenergy, and Others)

Country Scope

Hungary

Report Coverage

Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast

Key Players Covered in the Report

MVM Group; MET Holding AG; E.ON SE Sponsored ADR; China National Machinery Import and Export Corporation

Hungary Renewable Energy Market Segment Insights

Solar segment is projected to account for a key market share

Based on types, the Hungary renewable energy market is divided into solar, hydro, bioenergy, and others. The solar segment is expected to hold a key share of the market during the forecast period owing to solar photovoltaic (PV) capacity started to grow rapidly in recent years due to rooftop photovoltaic (PV) installations is on the rise. However, solar panels are subject to an environmental tax (recycle charge) that is exorbitant by worldwide standards.

Hungary Renewable Energy Market types

Segments

Segments Covered in the Report
The Hungary renewable energy market has been segmented on the basis of
Types

  • Solar
  • Hydro
  • Bioenergy
  • Others

Country

  • Hungary

Key Players

  • MVM Group
  • MET Holding AG
  • E.ON SE Sponsored ADR
  • China National Machinery Import and Export Corporation

 

Competitive Landscape

Key players competing in the Hungary renewable energy market include MVM Group; MET Holding AG; E.ON SE Sponsored ADR; China National Machinery Import and Export Corporation.

Some of these players are focusing on business strategies such as mergers, acquisitions, partnerships, collaborations, capacity expansion, and product launches to increase their market shares. For Instance,

In 2018, ABO Wind purchased a six-megawatt solar project, finished planning, and linked the park to the grid in 2019.

In April 2020 ABO Wind commissioned a second solar project with 6.5 megawatts peak installed capacity.

Hungary Renewable Energy Market keyplayers

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Renewable Energy Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. Renewable Energy Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. Renewable Energy Market - Supply Chain
  4.5. Global Renewable Energy Market Forecast
     4.5.1. Renewable Energy Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Renewable Energy Market Size (000’ Units) and Y-o-Y Growth
     4.5.3. Renewable Energy Market Absolute $ Opportunity
5. Global Renewable Energy Market Analysis and Forecast by Types
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by Types
     5.2.2. Y-o-Y Growth Projections by Types
  5.3. Renewable Energy Market Size and Volume Forecast by Types
     5.3.1. Solar
     5.3.2. Hydro
     5.3.3. Bioenergy
     5.3.4. Others
  5.4. Absolute $ Opportunity Assessment by Types
  5.5. Market Attractiveness/Growth Potential Analysis by Types
6. Global Renewable Energy Market Analysis and Forecast by Region
  6.1. Market Trends
  6.2. Introduction
     6.2.1. Basis Point Share (BPS) Analysis by Region
     6.2.2. Y-o-Y Growth Projections by Region
  6.3. Renewable Energy Market Size and Volume Forecast by Region
     6.3.1. North America
     6.3.2. Latin America
     6.3.3. Europe
     6.3.4. Asia Pacific
     6.3.5. Middle East and Africa (MEA)
  6.4. Absolute $ Opportunity Assessment by Region
  6.5. Market Attractiveness/Growth Potential Analysis by Region
  6.6. Global Renewable Energy Demand Share Forecast, 2019-2026
7. North America Renewable Energy Market Analysis and Forecast
  7.1. Introduction
     7.1.1. Basis Point Share (BPS) Analysis by Country
     7.1.2. Y-o-Y Growth Projections by Country
  7.2. North America Renewable Energy Market Size and Volume Forecast by Country
     7.2.1. U.S.
     7.2.2. Canada
  7.3. Absolute $ Opportunity Assessment by Country
  7.4. North America Renewable Energy Market Size and Volume Forecast by Types
     7.4.1. Solar
     7.4.2. Hydro
     7.4.3. Bioenergy
     7.4.4. Others
  7.5. Basis Point Share (BPS) Analysis by Types
  7.6. Y-o-Y Growth Projections by Types
  7.7. Market Attractiveness/Growth Potential Analysis
     7.7.1. By Country
     7.7.2. By Product Type
     7.7.3. By Application
  7.8. North America Renewable Energy Demand Share Forecast, 2019-2026
8. Latin America Renewable Energy Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
     8.1.3. Latin America Average Pricing Analysis
  8.2. Latin America Renewable Energy Market Size and Volume Forecast by Country
      8.2.1. Brazil
      8.2.2. Mexico
      8.2.3. Rest of Latin America
   8.3. Absolute $ Opportunity Assessment by Country
  8.4. Latin America Renewable Energy Market Size and Volume Forecast by Types
     8.4.1. Solar
     8.4.2. Hydro
     8.4.3. Bioenergy
     8.4.4. Others
  8.5. Basis Point Share (BPS) Analysis by Types
  8.6. Y-o-Y Growth Projections by Types
  8.7. Market Attractiveness/Growth Potential Analysis
     8.7.1. By Country
     8.7.2. By Product Type
     8.7.3. By Application
  8.8. Latin America Renewable Energy Demand Share Forecast, 2019-2026
9. Europe Renewable Energy Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Europe Average Pricing Analysis
  9.2. Europe Renewable Energy Market Size and Volume Forecast by Country
     9.2.1. Germany
     9.2.2. France
     9.2.3. Italy
     9.2.4. U.K.
     9.2.5. Spain
     9.2.6. Russia
     9.2.7. Rest of Europe
  9.3. Absolute $ Opportunity Assessment by Country
  9.4. Europe Renewable Energy Market Size and Volume Forecast by Types
     9.4.1. Solar
     9.4.2. Hydro
     9.4.3. Bioenergy
     9.4.4. Others
  9.5. Basis Point Share (BPS) Analysis by Types
  9.6. Y-o-Y Growth Projections by Types
  9.7. Market Attractiveness/Growth Potential Analysis
     9.7.1. By Country
     9.7.2. By Product Type
     9.7.3. By Application
  9.8. Europe Renewable Energy Demand Share Forecast, 2019-2026
10. Asia Pacific Renewable Energy Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Asia Pacific Average Pricing Analysis
  10.2. Asia Pacific Renewable Energy Market Size and Volume Forecast by Country
     10.2.1. China
     10.2.2. Japan
     10.2.3. South Korea
     10.2.4. India
     10.2.5. Australia
     10.2.6. Rest of Asia Pacific (APAC)
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Asia Pacific Renewable Energy Market Size and Volume Forecast by Types
     10.4.1. Solar
     10.4.2. Hydro
     10.4.3. Bioenergy
     10.4.4. Others
  10.5. Basis Point Share (BPS) Analysis by Types
  10.6. Y-o-Y Growth Projections by Types
  10.7. Market Attractiveness/Growth Potential Analysis
     10.7.1. By Country
     10.7.2. By Product Type
     10.7.3. By Application
  10.8. Asia Pacific Renewable Energy Demand Share Forecast, 2019-2026
11. Middle East & Africa Renewable Energy Market Analysis and Forecast
  11.1. Introduction
     11.1.1. Basis Point Share (BPS) Analysis by Country
     11.1.2. Y-o-Y Growth Projections by Country
     11.1.3. Middle East & Africa Average Pricing Analysis
  11.2. Middle East & Africa Renewable Energy Market Size and Volume Forecast by Country
     11.2.1. Saudi Arabia
     11.2.2. South Africa
     11.2.3. UAE
     11.2.4. Rest of Middle East & Africa (MEA)
  11.3. Absolute $ Opportunity Assessment by Country
  11.4. Middle East & Africa Renewable Energy Market Size and Volume Forecast by Types
     11.4.1. Solar
     11.4.2. Hydro
     11.4.3. Bioenergy
     11.4.4. Others
  11.5. Basis Point Share (BPS) Analysis by Types
  11.6. Y-o-Y Growth Projections by Types
  11.7. Market Attractiveness/Growth Potential Analysis
     11.7.1. By Country
     11.7.2. By Product Type
     11.7.3. By Application
  11.8. Middle East & Africa Renewable Energy Demand Share Forecast, 2019-2026
12. Competition Landscape
  12.1. Global Renewable Energy Market: Market Share Analysis
  12.2. Renewable Energy Distributors and Customers
  12.3. Renewable Energy Market: Competitive Dashboard
  12.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     12.4.1. MVM Group
     12.4.2. MET Holding AG
     12.4.3. E.ON SE Sponsored ADR
     12.4.4. China National Machinery Import and Export Corporation
     12.4.5.  

Segments Covered in the Report
The Hungary renewable energy market has been segmented on the basis of
Types

  • Solar
  • Hydro
  • Bioenergy
  • Others

Country

  • Hungary

Key Players

  • MVM Group
  • MET Holding AG
  • E.ON SE Sponsored ADR
  • China National Machinery Import and Export Corporation

 

Key players competing in the Hungary renewable energy market include MVM Group; MET Holding AG; E.ON SE Sponsored ADR; China National Machinery Import and Export Corporation.

Some of these players are focusing on business strategies such as mergers, acquisitions, partnerships, collaborations, capacity expansion, and product launches to increase their market shares. For Instance,

In 2018, ABO Wind purchased a six-megawatt solar project, finished planning, and linked the park to the grid in 2019.

In April 2020 ABO Wind commissioned a second solar project with 6.5 megawatts peak installed capacity.

Hungary Renewable Energy Market keyplayers

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