Greece Solar Energy Market Outlook 2031
The Greece Solar Energy Market size was USD XX Billion in 2022 and is likely to reach USD XX Billion by 2031, expanding at a CAGR of 4.3% during 2023–2031. The growth of the market is attributed to various elements such as rising focus to renewable energy and strict regulatory policies for sustainable energy source in Greece.
Solar energy is basically derived from the radiation from the Sun and is especially designed and equipped for delivering heat or producing power. The aggregate sum of solar energy on Earth is boundless and available in abundance to ensure the expected energy prerequisites in future.
If reasonably tackled, this profoundly diffused source of solar power can possibly fulfill all future energy needs. Above all, the necessary enhancement of the energy blend is rapidly rising globally over the recent years due to wide demand for power and petroleum gas consumption for various industries. Such endeavors to further develop energy productivity and lessen the production expenses and framework advancement are key aspects of the market expansion.
Greece accounts for a large share: As far as a country, the Greece solar energy market is expected to constitute a key share of the market during the forecast period. Greece has the second biggest limit in Europe after Germany. The principle portion of RES in Greece is, hence, photovoltaic installations.
Greece is in the Top 10 for energy creation from renewables and the 5th worldwide solar water warming authority limit per capita. Greece means to before long supplant petroleum derivative with hydrogen in industry on a fabulous scale. The European Union might want to help this endeavor with billions in appropriations, including COVID-19 help.
Greece Solar Energy Market Trends, Drivers, Restraints and Opportunities
- Rising demand for solar energy and high consumption of power across industries are estimated to positively influence the market growth during the forecast period.
- Stringent government policies towards sustainable environment and expansion of renewable resources in Europe presents a key driver of the market expansion.
- Expanding in the utilization of wind energy to generate inexhaustible power in the nation is a key challenge projected to limit the market growth.
- High cost of installation is a major restraining factor projected to hamper the market growth during the forecast period.
- Wide exploration and availability of engineers to experiment several cost-effective means for development of effective solar energy acts as a key factor offering several growth opportunities of the market.
Scope of Greece Solar Energy Market Report
The report on the Greece solar energy market includes an assessment of the market, trends, segments, and markets. Overview and dynamics have also been included in the report.
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Attributes
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Details
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Report Title
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Solar Energy Market - Greece Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2022
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Historic Data
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2016–2021
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Forecast Period
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2023–2031
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Segmentation
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Types, (Solar Photovoltaic and Concentrated Solar Power)
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Country
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Greece
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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Meca Solar (Mecanizados Solares, S.L.); Juwi Holding AG; JinkoSolar Holding Co., Ltd; Hellenic Petroleum Renewables (Hellenic Petroleum S.A.); and ENTEC S.p.A.
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Greece Solar Energy Market Segment Insights
Solar photovoltaic segment is expected to expand at a rapid pace
Based on types, the market is divided into solar photovoltaic and concentrated solar power. The solar photovoltaic (PV) segment is expected to grow at a rapid pace during the forecast period owing to wide demand of the product type. In 2018, the solar PV segment represented more than 25% of the absolute environmentally friendly power supply, creating 3792 Gig watt-Hour (GWh) of power.
Moreover, solar PV is less expensive and can be introduced on roofs in examination with CSP innovation, which presents key driving factor of the segment growth. A huge part of the solar power industry uses solar photovoltaic PV cells. These cells are connected together in chains to form larger units known as modules or panels.
The concentrated solar power segment is expected to grow at a robust pace during the forecast period. This is due to the fact that the concentrated solar provides better grid stability then solar PV cells.
Segments
The Greece solar energy market has been segmented on the basis of
Types
- Solar Photovoltaic (PV)
- Concentrated Solar Power (CSP)
Country
Key Players
Competitive Landscape
Key players competing in the Greece solar energy market are Meca Solar (Mecanizados Solares, S.L.); Juwi Holding AG; JinkoSolar Holding Co., Ltd; Hellenic Petroleum Renewables (Hellenic Petroleum S.A.); and ENTEC S.p.A. Some of these players have adopted several business development or market expansion strategies such as partnerships, collaborations, expansion of production units, and acquisitions to increase their market share and expand their consumer base globally.
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