European Solar Panel Market 2022-2028

European Solar Panel Market Size, Share & Trends Analysis Report by Type (Solvent Polycrystalline Solar Panel, Monocrystalline Solar Panels, Amorphous Solar Panels), and by Application (Commercial, Industrial, Residential, Others) Forecast Period (2022-2028)

The European solar panel market is estimated to grow at a significant CAGR of 11.0% during the forecast period. A solar panel, often known as a PV panel, is a group of solar (or photovoltaic) cells that generate electricity using natural sunlight. It is made up of multiple solar cells that are placed in a grid-like pattern on the surface and are constructed of silicon, boron, and phosphorus. Solar panels are becoming more popular around the world because they do not cause pollution and their installation aids in the reduction of harmful greenhouse gas emissions. In addition, advances in quantum physics and nanotechnology are expected to boost their effectiveness.

The European solar panel market is segmented based on type and end-user. Based on type, the market is classified into monocrystalline silicon, polycrystalline silicon, and thin film. Monocrystalline silicon panels are environment-friendly and non-toxic. Monocrystalline silicon rooftop solar panel has the highest efficiency rate of ~20% among all major solar panels. Thin-film solar panels are used in residential and commercial sectors, however, due to low efficiency, they are not as popular as polycrystalline and monocrystalline solar panels. Based on the end-user, the market is segmented into residential, commercial, industrial, and others. Solar panels are widely used by house owners to reduce electricity bills. Solar energy is a renewable and non-polluting energy source, which is very useful for household applications. Solar panels cut down the bills and are more secure than any other electric resource.

The European solar panel market comprises the UK, Germany, Italy, Spain, France, and the Rest of Europe. Germany is anticipated to hold the largest share of the European solar panel market. A large number of installations were reported in the country, which is led by government initiatives to encourage the adoption of solar power. This is expected to increase the adoption of solar power for domestic and commercial purposes, thereby, creating opportunities for the growth of the market over the forecast period. Further, there is a large number of players within these regions such as Canadian Solar, JinkoSolar, and Trina Solar, which are significantly contributing to the market.

The key market players in the European solar panel market are Canadian Solar, Inc., SunPower Corp., First Solar, Inc., Renewable Energy Corp. (REC) Group, and Trina Solar Ltd. To sustain a strong position in the market, these players adopt different marketing strategies such as mergers and acquisitions, partnerships, collaborations, R&D, project development, geographical expansion so on. For an instance, Canadian Solar Inc., a global technology leader, and developer of system solutions in the solar sector announced the global launch of next-generation PV modules in June 2020. This launch of solar PV models pushes solar energy closer to achieving ever-lower Levelized electricity costs ("LCOE"). As a result, the worldwide rooftop solar panel market is being driven by new product releases and corporate expansion through mergers and acquisitions.

Research Methodology

The market study of the European solar panel market is incorporated by extensive primary and secondary research conducted by the research team at research has been conducted to refine the available data to break down the market into various segments, and derive the total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior, and macroeconomic factors. Numbers extracted from secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives as possible, managers, key opinion leaders, and industry experts. Primary research brings authenticity to our reports.

Secondary Sources Include

• Financial reports of companies involved in the market.
• Whitepapers, research papers, and news blogs.
• Company websites and their product catalog.

The report provides an in-depth analysis of the market size, and intended quality of the service preferred by consumers. The report will serve as a source for a 360-degree analysis of the market thoroughly integrating different models.

Market Segmentation

1. European Solar Panel Market Research and Analysis by Type.
2. European Solar Panel Market Research and Analysis by Application.

The Report Covers

• Comprehensive research methodology of the European solar panel market.
• This report also includes a detailed and extensive market overview with key analyst insights.
• An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
• Analysis of regional regulations and other government policies impacting the European solar panel market.
• Insights about market determinants that are stimulating the European solar panel market.
• Detailed and extensive market segments with the regional distribution of forecasted revenues.
• Extensive profiles and recent developments of market players.