European Rooftop Solar Panel Market Size, Share & Trends Analysis Report by Type (Monocrystalline Solar Panel, Polycrystalline Solar Panel, Thin-Film Solar Panel, and Other Solar Panels) and by End-User (Household Sector and Corporate Sector) and Forecast, 2019-2025. The European rooftop solar panel market is estimated to grow modestly, at a CAGR of around 6.6%, during the forecast period.
The European rooftop solar panel market is estimated to grow modestly, at a CAGR of around 6.6%, during the forecast period. The growth of the European rooftop solar panel market is driven by the increasing investment in solar energy, coupled with a growing focus towards renewable energy sources within the region.
Recent regulatory and economic developments in Europe have changed the perspective for solar energy and brought a positive impact on the market. As the economies of the European region focus on investing in research and development of energy from renewable resources, it is expected to significantly increase the opportunities for the growth of the market in the near future.
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The companies which are contributing to the growth of the European rooftop solar panel market include AxSun Solar GmbH & Co. KG, Canadian Solar, Inc., Hanwha SolarOne Co.
Ltd., SunPower Corp., Juwi Holding AG, and Wuxi Suntech Power Co., Ltd.
The EU is committed to reducing greenhouse gas emissions to 80%-95% below 1990 levels by 2050 in the context of necessary reductions by developed countries. According to the European Solar Energy Association’s (EWEA) new Central Scenario, around 300 TWh of solar energy capacity is projected to be installed in the EU by 2050.
According to Solar power Europe, the level of jobs in the solar sector has fallen from around 180,000 in 2008 to around 110,000 in 2014. Likewise, the Gross Value Added of the sector has fallen from around $12 billion to $7.2 billion in 2014.
This situation is predicted to improve to nearly 140,000 jobs and almost $8.4 billion GVA by 2020. This signifies the positive prospects of the solar power industry in Europe over the coming decade.
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The market players are considerably contributing to the market growth by the adoption of various strategies including new product launch, merger, and acquisition, collaborations with government, funding to the start-ups and technological advancements to stay competitive in the market.
European Rooftop Solar Panel Market Segmentation
European Rooftop Solar Panel Market by Type
- Monocrystalline Solar Panel
- Polycrystalline Solar Panel
- Thin-Film Crystalline Solar Panel
- Amorphous Silicon (a-Si)
- Cadmium Telluride (CdTe)
- Copper Indium Gallium Selenide (CIS/CIGS)
- Other Solar Panels
European Rooftop Solar Panel Market by End-User
- Household Sector
- Corporate Sector
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