The Germany renewable energy market size is projected to expand at a considerable CAGR during the forecast period, 2021–2028. The growth of the market is attributed to the rising environmental & ethical concern among people, growing cost of production, depletion of fossil fuel supplies, rising emission of greenhouse gases, and favorable policies as well as rules for renewable energy.
Renewable energy is generated from the natural source that are safe for environment and are cost effective. Renewable energy plays a vital role in the energy security and decreasing greenhouse gas emissions. It helps to decrease the imports for energy and also reduces the use of fossil fuels for generating energy. Germany highly target the final energy consumption of the country followed by electricity, heat, and transport sector.
Renewable energy also known as clean energy is majorly used as new technology by utilizing nature’s power for transportation, heating, lighting, and others. Renewables are becoming most important source of power as it is less expensive and most innovative way to use, retain, and capture the energy. Germany was called first main renewable energy economy in the world. In 2014 it had globe’s largest capacity installed of a photovoltaic.
Market Trends, Drivers, Restraints, and Opportunities
- Increasing investments in renewable energy infrastructure is estimated to propel the market expansion during the forecast period.
- Rapid growth in renewable energy sector is major factor driving the market growth in the coming years.
- Growing government rules and regulations regarding renewable energy is anticipated to fuel the market expansion in the coming years.
- High cost of set up at initial stage is projected to hamper the market growth during the forecast period.
- R&D investment and technological advancement in renewable energy is expected to offer significant opportunities for the market players.
Scope of Renewable Energy Market Report
The report on the Germany renewable energy 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
|
Germany Renewable Energy Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
|
|
Base Year
|
2020
|
|
Historic Data
|
2018–2019
|
|
Forecast Period
|
2021–2028
|
|
Segmentation
|
Source Types (Wind, Bioenergy, Solar, Hydro, and Others), End-users (Industrial, Commercial, Residential, and Others)
|
|
Regional Scope
|
Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
|
|
Report Coverage
|
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
|
|
Key Players Covered in the Report
|
The Tata Power Company Ltd.; Enel Spa.; EDF; Invenergy; ABB Ltd.; Innergex; Xcel Energy Inc.; Geronimo Energy; ACCIONA; General Electric; Senvion S.A.; SunPower Corp.; Siemens Gamesa Renewable Energy SA; and Centrotherm International AG
|
Renewable Energy Market Segment Insights
Solar segment is projected to account for a large market share
Based on source types, the Germany renewable energy market is divided into wind, bioenergy, solar, hydro, and others. The solar segment is expected to constitute a key share of the market during the forecast period owing to versatile installation, improved security of the power grids, less energy lost during the long distance transport, and economic savings. However, the wind segment is anticipated to expand at a rapid pace during the forecast period due to cost effective, it can be built on the existing farms or ranches, a domestic source of energy, and it is sustainable.
Industrial segment is projected to hold a key market share
On the basis of end-users, the market is segmented into industrial, commercial, residential, and others. The industrial segment is expected to represent a key share of the market in the coming years due to rising demand for sustainable, sufficient, and secure energy supply and high usage in various industries such as chemical, manufacturing, healthcare, food & beverages, and others.
On the other hand, the commercial & residential segment is anticipated to expand at a rapid pace during the forecast period owing to growing demand for power from various hotels, societies, and hospitals. Increasing inclination among the integration of various electrical distribution links in residential & commercial sector is projected to boost the market.
Segments
The Germany renewable energy market has been segmented on the basis of
Source Types
- Wind
- Bioenergy
- Solar
- Hydro
- Others
End-users
- Industrial
- Commercial
- Residential
- Others
Country
Key Players
- The Tata Power Company Ltd.
- Enel Spa.
- EDF
- Invenergy
- ABB Ltd.
- Innergex
- Xcel Energy Inc.
- Geronimo Energy
- ACCIONA
- General Electric
- Senvion S.A.
- SunPower Corp.
- Siemens Gamesa Renewable Energy SA
- Centrotherm International AG
Competitive Landscape
Key players competing in the Germany renewable energy market include The Tata Power Company Ltd.; Enel Spa.; EDF; Invenergy; ABB Ltd.; Innergex; Xcel Energy Inc.; Geronimo Energy; ACCIONA; General Electric; Senvion S.A.; SunPower Corp.; Siemens Gamesa Renewable Energy SA; and Centrotherm International AG. Some of these players are engaged in several market strategies such as mergers, acquisitions, partnerships, collaborations, capacity expansion, and product launches to enhance their market shares.
Request For Customization
Enquiry Before Buying
Speak With Analyst
