Germany Solar Pv Panels Market Size & Outlook, 2023-2030
Germany solar pv panels market, 2018-2030 (US$M)
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Germany solar pv panels market highlights
- The Germany solar pv panels market generated a revenue of USD 4,157.1 million in 2023 and is expected to reach USD 5,255.5 million by 2030.
- The Germany market is expected to grow at a CAGR of 3.4% from 2024 to 2030.
- In terms of segment, thin film was the largest revenue generating technology in 2023.
- Thin Film is the most lucrative technology segment registering the fastest growth during the forecast period.
Solar pv panels market data book summary
| Market revenue in 2023 | USD 4,157.1 million |
| Market revenue in 2030 | USD 5,255.5 million |
| Growth rate | 3.4% (CAGR from 2023 to 2030) |
| Largest segment | Thin film |
| Fastest growing segment | Thin Film |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Thin Film, Crystalline Silicon |
| Key market players worldwide | JinkoSolar Holding Co Ltd DR, Canadian Solar Inc, Hanwha, GCL Technology Holdings Ltd, First Solar Inc, SunPower Corp |
Other key industry trends
- In terms of revenue, Germany accounted for 2.4% of the global solar pv panels market in 2023.
- Country-wise, China is expected to lead the global market in terms of revenue in 2030.
- In Europe, Russia solar pv panels market is projected to lead the regional market in terms of revenue in 2030.
- Croatia is the fastest growing regional market in Europe and is projected to reach USD 1,371.6 million by 2030.
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Solar PV Panels Market Scope
Solar PV Panels Market Companies
| Name | Profile | # Employees | HQ | Website |
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Germany solar pv panels market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to solar pv panels market will help companies and investors design strategic landscapes.
Thin film was the largest segment with a revenue share of 45% in 2023. Horizon Databook has segmented the Germany solar pv panels market based on thin film, crystalline silicon covering the revenue growth of each sub-segment from 2018 to 2030.
Germany is a developed economy and one of the leading markets in Europe. Over the past few years, the country has invested in unconventional power generation technologies to reduce its reliance on conventional sources such as crude oil and coal, as well as to be energy self-sufficient. Germany’s cumulative installation of solar capacity reached 66.5 GW in 2022.
The government has been actively promoting the growth of solar power by launching different incentive schemes and policies. For instance, in October 2022, the German government made various changes to the Renewable Energy Sources Act (EEG).
The policy mandated that 80% of Germany’s electricity should be generated through renewable resources. The act has also increased its Feed-in-Tariff rates to further promote the adoption of residential and industrial solar installations.
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Horizon Databook provides a detailed overview of country-level data and insights on the Germany solar pv panels market , including forecasts for subscribers. This country databook contains high-level insights into Germany solar pv panels market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Germany solar pv panels market size, by technology, 2018-2030 (US$M)
Germany Solar PV Panels Market Outlook Share, 2023 & 2030 (US$M)
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