Europe Solar Panel & Coating Market Outlook, 2027

Europe market has shown continuous growth in the previous year. There is huge potential in countries of Europe. Germany is the leading solar market, they have newly installed 5.3GW and followed by Spain have installed 3.8GW, the Netherland with 3.3GW and Poland with 3.2GW. As of total Europe has installed around 34% solar panels. Some of the major problems have made slow development in solar power. Permitting obstacle and electricity grid is the major problems. European Union are working in this to make enough supply of solar panels energy. Germany has made investment in residential and small commercial systems which would attract the consumers to install. This will enhance households to eliminate financial problem and also they will save electricity bill also. Spain has maintained second position in Europe after Germany. They have installed in wide areas. It is also known to be world’s largest market for subsidy-free solar but the problem lies is for rapid deployment of solar grid in large volumes. As said in the draft by commission that major installation of solar energy in large volumes and become less dependent is because Europe was more dependent to Russia natural gas. To consume less of natural gas and use more of electricity generate through solar power made Europe to be install in large volumes in wide region areas. Adding to this European Commission has also made sure that will be installing and rebuilding Europe’s manufacturing for solar installation. Anti-dumping and anti-subsidy has also been imposed to protect the European manufacturers so that no other countries can disturb these companies.

According to the research report, “Europe Solar Panel & Coating Market Outlook, 2027” published by Bonafide Research, the solar panel & coating market is anticipated to grow at a CAGR of more than 10% in terms of value during this forecasted period. Growing investment by major market players in the research pf solar panel coating has impacted the market growth. New models of thin film technology has been introduced which is made through coating of cadmium telluride in solar panels. The future in solar energy is to eliminate the use fossil and reduce carbon emission. Due to the cost reduction and supportive policies, there is large-scale manufacturing of solar panel. It is accounted to be growth and supply of electricity to more than 40% in the Europe. With continuous advancement in technology, it has been observed in huge installation of solar power. This has also led acceleration of clean energy deployment and leading to generate new job opportunities. Land availability has made advantage to install in large areas, since majority of the installation is ground mounted and it requires large areas. Deployment of solar power has addressed and made easy in job creation, save on electricity and better generation for electricity. To improve this rooftop solar installation can be done so that distribution of solar energy. This could benefit both private and public consumers.

European project has projected to make and create more energy from the roads by installing near parking and bus stops. This will lead to save cost-effective and effective way of using the solar power energy. Another project and its goal is to develop sustainable cross-border collaboration, applying research and innovative ideas will also enhance. Thin and flexible solar panel cells is made through silicon-cadmium and then made into different forms. This will lead into custom-made to mass production of solar panels. Therefore rapid growth in solar capacity will have potential harvesting and storing of solar energy. Solar power has become the cheapest mode for generation of power. With installation in large volumes and intense sunlight it will produce into KW and lead to GW. This will add in their economy and increase the GDP. Cost for new panels have also decreased and therefore mass installation will happen in each households all over Europe. It was tough to compete with other region because other countries were already ahead in their product development and technology wise. They still tried and now they have managed to equal the innovation and production of solar power. Some companies like Solarwatt or Sonnen provide unique solutions for storing electricity and sharing the same with others for procurement of solar power. As the price for storage technology have fallen, there is sharp rise in self-supply and lot of investment have been done to initiate a new solar power production.

Solar panels are segmented in different types and solar panel coating. Different types of solar panels are monocrystalline solar panel, polycrystalline and thin film solar panel. In Europe, polycrystalline solar panel dominating, it has the majority of the market share and in forecast period as well it will dominate the market. Solar panel coating has got various forms. In coating, the most demanded product is anti-reflective and in the forecast period as well it will dominate the market share. In Europe there are several companies which are dominating in all over Europe. Hanwha Q cells, REC groups, Kioto Solar, Victron Enregy and Lorentz, this companies are leading and with time-to-time they have introduced new products. New products and new solar panels have increased the efficiency rate.

Covid-19 Impact:
Lockdown brought economy crisis and made everything negative scenario. European solar power is more dependent solar power, since there is more use of electric vehicles. There was continuous installation of solar panels so that enough electricity is generated. Covid-19 made everything in chaos and disruption due to supply of panels in different places. All the work stopped due to quarantine. This led to large demand for installation for ready-to-charge infrastructure. With renewables power increase, the building for solar power is creating more risk. Investment in this solar power was decreased as everyone suffered huge loss. The economy was in huge risk as all the market fell abruptly. Companies instead of new investment they all were intended to cover their losses and safeguard liquidity and ensure stable operations.

Major Companies present in the market:
Hanwha Q cells, REC groups, Kioto Solar, Victron Enregy, Lorentz, Atersa group, Megasol Enregy, Luxor Solar, Solarwatt, IBC Solar, Aleo Solar, Sunerg Solar

Considered in this report:
• Geography: Europe
• Historic year: 2016
• Base year: 2021
• Estimated year: 2022
• Forecasted year: 2027

Aspects covered in this report
• Europe Solar panel & Coating Market with its value and forecast along with its segments
  • Country wise Solar panel & Coating market analysis
  • Application wise Solar panel coating market distribution
  • Various drivers and challenges
  • On-going trends and developments
  • Top profiled companies
  • Strategic recommendation

Countries covered in the report:
• Germany
• UK
• France
• Netherland
• Sweden
• Italy
• Spain

By application Solar panel type in the report:
• Monocrystalline solar panel
• Polycrystalline solar panel
• Thin film solar panel

Technical types of Solar panel Coating in the report:
• Anti-Reflective
• Hydrophobic
• Self-cleaning
• Anti-soiling
• Anti-abrasion

The approach of the report:
This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and listing out the companies that are present in the market. The secondary research consists of third-party sources such as press releases, annual report of companies, analyzing the government generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducted trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers in regional aspects, tier aspects, age group, and gender. Once we have primary data with us we have started verifying the details obtained from secondary sources.

Intended audience:
This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to solar panel & coating industry, government bodies and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.

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Manmayi Raval

Research Consultant

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