Report Details:
15 Companies Covered
141 Pages
Market Research Future (MRFR) has published a cooked research report on the “Europe renewable energy market” that contains the information from 2019 to 2035.
The Europe renewable energy market is estimated to register a CAGR of 13.2% during the forecast period of 2025 to 2035.
MRFR recognizes the following companies as the key players in the Europe renewable energy market—Siemens Gamesa SA, EDF Renewables, Ørsted, ACCIONA S.A, Iberdrola, Enel Green Power, Vestas, Brookfield Renewable Partners, First Solar, Canadian Solar, AFICO, and Others.
Europe renewable energy Market Highlights
The Europe renewable energy market is accounted to register a CAGR of 13.2% during the forecast period and is estimated to reach USD 3,657.72 billion by 2035.
The development of advanced energy storage technologies is rapidly emerging as one of the most critical enablers for the continued growth of Europe’s renewable energy market. As the European Union intensifies its efforts to reach net-zero emissions by 2050 and boost energy independence, the ability to store excess renewable energy and dispatch it when needed is essential to address the intermittent nature of solar and wind power. Recent years have witnessed remarkable growth in this sector. In 2023 alone, Europe added 17.2 GWh of new battery energy storage capacity, nearly doubling the previous year’s deployment and underscoring the accelerating momentum. Projections suggest that the EU could see up to 60 GW of battery storage installed by 2030, a sixfold increase from current levels, reflecting both market demand and strong policy direction.
Several cutting-edge storage technologies are beginning to transform the energy landscape. Among them, long-duration energy storage (LDES) technologies such as Liquid Air Energy Storage (LAES) are gaining prominence due to their ability to store energy for extended periods—critical for balancing seasonal fluctuations in renewable generation. One leading example is Highview Power’s LAES project in Manchester, which is designed to deliver 300 MWh of storage capacity and provide energy for up to 20,000 homes for several hours. Other novel approaches, including molten salt, compressed air, and iron-air batteries, are being explored and funded through EU innovation programs aimed at diversifying storage solutions beyond lithium-ion.
In summary, the continued development of advanced energy storage technologies presents a foundational opportunity for Europe’s renewable energy future. These systems are not merely support mechanisms for intermittent generation; they are becoming indispensable assets for grid stability, market flexibility, and energy independence. With the right combination of innovation, regulatory support, and infrastructure investment, Europe is well-positioned to lead the global transition toward a resilient and decarbonized energy system powered by renewables and underpinned by smart, scalable storage solutions.
Segment Analysis
The Europe renewable energy market has been segmented based on type, material type, end-user and Country.
The Europe renewable energy market segmentation, based on type, has been segmented into hydropower, wind energy, solar energy, bioenergy, geothermal energy, and ocean energy. Among these, the wind energy segment is projected to dominate the Europe renewable energy market revenue through the projected period. Based on material type it has been segmented into recycled materials, bio-based materials, and low-impact materials. In the Europe renewable energy market, recycled materials is projected to dominate the Europe renewable energy market revenue through the projected period.
In the end-user segment, the market is categorized into residential, industrial, and commercial. Out of which the industrial held the maximum share in the base year market and is also expected to be holding a significant share in the forecasted period as well.
Country Analysis
By Country, the renewable energy market is segmented into Germany, France, UK, Spain, Italy, Netherlands, Belgium, Austria, Poland, Czech Republic, Slovakia, Hungary, Romania, Baltic Countries, and Rest of Europe. Germany renewable energy market holds the considerable market share and is also forecasted to hold the largest share during the forecast period. The demand for renewable energy is growing in Germany due to prominent factors such as government policies, sustainable growth plans, and technological advancements. For instance, the German government has committed towards energy transition with a target to achieve 80% renewable electricity by the end of the year 2030. Furthermore, the industrial sector's shift from fossil fuel-based electricity utilization to self-generated solar power is fostering the growth of the renewable energy market in Germany.
In addition, the UK will register significant growth in the renewable energy market due to the prominent factors such as increasing public-private partnerships for the development of renewable energy, incentives for the development of renewable projects and others.
Key Findings of the Study
- The Europe renewable energy market is expected to reach 3,657.72 billion by 2035, at a CAGR of 13.2% during the forecast period.
- Germany accounted for the fastest-growing market in the Europe Renewable Energy industry.
- Based on Type, the wind energy segment was attributed to holding the largest market in 2024.
- Based on Material Type, the recycled materials segment was attributed to holding the largest market in 2024.
- Based on End-User, the industrial segment was attributed to holding the largest market in 2024.
- Siemens Gamesa SA, EDF Renewables, Ørsted, ACCIONA S.A, Iberdrola, Enel Green Power, Vestas, Brookfield Renewable Partners, First Solar, Canadian Solar, AFICO, and Others are the key market players.
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