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The Research Report is Updated with 2020 Base Year, 2021 Estimated year and Forecast till 2030 with Market Insights.
With the dip in global production, the GDP has contracted in 2020 and impacted the market across the world. Upon placing a Sample Request, you will receive an updated report with 2020 as base year, 2021 as estimated year and forecast to 2030. This will have market drivers, recovery rate in the market, insights and competitive analysis.
The Europe Microgrid market is anticipated to observe a modest phase of growth, with a marginal improvement observed in the production of power and energy in the region over the last few years and the energy policies undertaken by various governments across the region that are encouraging a major shift towards clean energy. The member states of the European Union (EU) are working to reach the targets that have been agreed to on energy and climate. At least 20 percent reduction in greenhouse gas emissions is planned to be achieved by 2020. The EU aims to achieve at least 20 percent of its energy consumption from renewable sources, by which it plans to attain an energy saving of close to 20 percent or more. Nearly half of the EU member states are closing in on their renewable energy targets that are prescribed to be achieved by year 2020. The European Union having committed to fulfilling the agenda of Sustainable Development that had been set for 2030 and its 17 Sustainable Development Goals (SDG) adopted by the United Nations (UN) in September, 2015 is working towards achieving the targets set at a considerable pace. The primary energy consumption in the various nations in Europe had risen only marginally from 2050 million tonnes per oil equivalent in 2017 to 2050.7 million tonnes per oil equivalent in 2018. We provide a comprehensive analysis of the scope of the market, including the yearly growth of the Europe Microgrid market by revenues, market segments and gain indicators that are driving the growth of the market. Our report also points out the dominant market trends and opportunities that are available, including market restraints that may impact the growth of the market. The Europe Microgrid market is anticipated to register significant absolute $ opportunity value in 2027 as compared to the value attained in 2019.
About 45 percent of its energy are being produced in the European Union, while the rest of the energy which constitutes about 55 percent is being imported as of 2017. The sources of energy in the EU are obtained from petroleum products (including crude oil), natural gas, solid fossil fuels, nuclear energy and renewable energy. Renewable energy being the highest contributing source of energy production in the EU constitutes about 30 percent of the total EU energy production in 2017. Further, about 28 percent was contributed by Nuclear Energy. Other sources of energy production such as solid fuels (19 percent), natural gas (14 percent) and crude oil (10 percent) also form part of total EU energy production.
The total generation of electricity by fuel in entire Europe region was around 4077.3 TWh in 2018, as compared to 4061.8 TWh generated in the year 2017. The rate of growth of carbon-dioxide (CO2) emissions released by Europe between the years 2007 and 2017 was -1.5 percent, while the growth rate of CO2 emissions was -1.6 percent in the year 2018. Out of the global CO2 emission contributions made, Europe had contributed around 12.5 percent of the world’s share in the year 2018. The production of coal in the EU has been on the decline since 2010, with about 1553.87 TWh of power generated in 2016 as compared to 1927.16 TWh of power generated in the year 2010. About 3.1 million GWh of electricity was generated in the EU in the year 2017. Combustible fuels contributed to around half of the net electricity generated in the year 2017.
There was a drop in energy emissions observed throughout the region of Europe by about 1.3 percent in the year 2018. Moreover, a shift has been made towards using lower-carbon energy sources by many nations in the European region. The dependency on energy through imports was hovering between 53 to 55 percent in the European region during the last few years.
Petroleum products that included crude oil was the major energy product that was imported which accounted for nearly two-thirds of energy imports. Other products included were gas (26 percent) and solid fossil fuels (8 percent) that were imported by EU region. About 30 percent of extra-EU’s crude oil imports had been supplied by Russia. Similarly, natural gas and solid fuel (mostly coal) imports comprising of 40 percent and 39 percent of imports also were being supplied by Russia.
About two-thirds of the total energy available are consumed by end users in the EU region. Petroleum products formed the maximum source of energy consumption in the EU constituting about 41 percent of the energy consumed in the region. The consumption of renewable energy is greater than nine percent, on account of other sources of renewable energy being included under electricity such as hydropower, wind power and others. Of all the sectors, about one-third of energy consumption is accounted for by the transport sector.
Electricity consumption in the EU is mainly coming from power stations that burn fossil fuels that account for about 44 percent of the electricity consumed. Further, consumption of renewable energy is about 31 percent and nuclear power plants consume about 25 percent of energy. About 11 percent share of energy consumption comes from renewable energy sources such as wind turbines, while hydropower plants consume 10 percent of energy. The total gross production of electricity was about 3294 TWh in the EU during 2017. Renewable energy sources formed the largest share of 30.5 percent in terms of production. Further, nuclear power plants, gas fired plants and coal fired plants contributed to a share of about 25.2 percent, 21.1 percent and 20.1 percent respectively.
CO2 emissions in countries such as United Kingdom and France had dropped to their lowest levels. On the other hand, hydroelectric and nuclear power stations in France had increased with coal and gas plants recording a lower utilization in the year 2018 as compared to 2017. Moreover, the United Kingdom had recorded one of its lowest levels of fossil fuel consumption in the last fifty (50) years. The decreasing use of fossil fuels in the EU, followed by improvements made in energy efficiency, increasing use of renewable energy sources such as hydro, wind and solar photovoltaic power for energy consumption is driving the demand for alternative sustainable energy sources which is anticipated to drive the growth of the market over the forecast period.
Our overall market analysis on the Europe Microgrid market includes recent trends, opportunities coupled with inclusive macro-economic indicators that are leading to the growth of the market. Moreover, our bottom-up and top-down approach to calculate the market numbers along with detailed segmentation and regional average pricing analysis is provided in the report. Additionally, our report highlights correlation and regression analysis, demand and supply risk, followed by strategies to attract potential customers. Furthermore, our report includes Y-o-Y growth rate and absolute $ opportunity value that the Europe Microgrid market is estimated to record in 2027 as compared to this year.
A separate section in the report highlights regional scenario in market which includes Europe (further segmented on a country/regional level including Germany, U.K., France, Italy, Spain, BENELUX, Netherlands, NORDIC, Poland, Hungary, Russia, Turkey, and Rest of Europe).
A complete section on competitive landscape provides an understanding of the companies in current strategic report based upon various parameters which includes overview of the company, business strategy, major product offerings, key performance indicators, risk analysis, recent development, regional presence and SWOT analysis. There is a separate section which has been provided on the market share of key players in this market, as well as the competitive positioning of the players.
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