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Growth potential, market attractiveness and competitive dynamics
Collection : European Business Insights
Last update : September 2025
Price : 4 500 €
Language : French / English
Format : PDF (immediate availability)
Reference : 25WSCO73
REPORT SCOPE AND MARKET OVERVIEW
The installed capacity of photovoltaic power plants exceeded 320 GW in Europe in 2024. Germany is the leading market with over 30% of installed capacity, far adiv of Italy and Spain. Countries with historically high electricity prices, such as Germany and Italy, have had a stronger interest in developing their photovoltaic production than those with traditionally lower prices, such as France.
The photovoltaic industry has taken advantage of the latest energy crisis, and more broadly of the decarbonisation imperatives of European countries, to carve out a place in the energy industry. For the first time, solar energy surpassed coal in European electricity production in 2024. The surge in kilowatt-hour prices observed from 2021 onwards prompted more and more individuals and businesses to install solar panels to reduce their energy bills. In 2023-2024, the attractiveness of photovoltaics also benefited from falling prices for photovoltaic panels.
The European photovoltaic market is dominated by large European operators. Due to the weight of their domestic market, German groups (Greencells Group, Goldbeck Solar, Encavis, etc.) naturally rank first, alongside major European energy companies such as France's Engie and TotalEnergies, Italy's ENI, Spain's Iberdrola and Portugal's EDP. Non-European players, on the other hand, are few and far between. They are focusing on markets with higher growth potential, such as Latin America and South-East Asia.
The upstream part of the photovoltaic value chain, particularly the manufacture of key components, is largely concentrated in China. However, gigafactories are expected to be built on the European continent in the coming years with the aim of strengthening Europe's energy sovereignty. Another risk for the European industry is the possibility of political change within EU Member States. Such a shift could call into question the energy trajectory of these countries to varying degrees.
In this report
Market analysis and outlook to 2030
This study provides a comprehensive overview of the photovoltaic market in Europe. Against a backdrop of declining public support for renewable energy, what are the real prospects for 2030? How can business models be adjusted once subsidies come to an end? And how can deployment strategies be rethought facing strong local opposition?
Identify regions and countries with strong potential
Using an exclusive scoring system, Xerfi's experts have identified the most promising European markets. Based on ten key competitiveness indicators, the study highlights the areas to focus on for the strategic development of photovoltaic operators. Which markets offer the most opportunities? What are the specific attractions of each country?
Deciphering competition and its evolution
The report provides a detailed map of the competition: positioning, geographical location, and profiles of the leaders. Who are the best-performing operators? And what are the main characteristics of the consolidation trend currently underway in the sector?
In around 30 slides, the executive summary provides access to the study's conclusions on market outlook by 2030, competitive dynamics and strategic challenges facing the sector.
Market drivers and demand indicators : renewable energy targets, electricity consumption, solar panel prices, electricity prices, average PV costs, regulatory framework and support mechanisms
The latest market figures in Europe : size and structure of the photovoltaic (PV) market by country and type of power plant, European market dynamics and in five markets (Germany, Italy, Spain, the Netherlands and France)
Xerfi's 2030 forecasts for installed photovoltaic capacity in Europe
Preparing for the transition to a subsidy-free model| Case study: Iberdrola's offering in the power purchase agreement (PPA) market | Voltalia's strategy in the energy storage market
Building a solar panel production chain in Europe | Case study: the gigafactory project in Fos-sur-Mer
Seeking alternatives to land artificialisation : recent initiatives in floating solar power and vertical photovoltaics
Developing a solar panel recycling industry : overview of various European initiatives and recent advances to increase end-of-life panel recycling
Exporting expertise outside Europe : the main target markets and deployment methods
Exclusive ranking of the most attractive photovoltaic markets
Comparative mapping of European countries based on more than ten economic and sectoral criteria
12 fact sheets on the attractiveness of the main countries : Austria, Belgium, France, Germany, Greece, Italy, the Netherlands, Poland, Portugal, Romania, Spain and the United Kingdom
The forces at play in the operation of photovoltaic power plants
Key operator profiles: Elevion Group, Encavis, Eneco, Engie, Goldbeck Solar, Greencells Group, Lightsource bp, RP Global, Sonnedix, TotalEnergies
Groups and companies analyzed in the report
4MAXPOWER
ACCIONA
AES CORPORATION
AKUO
ARKOLIA
AXPO GROUP
BAYWA RE
BETTER ENERGY
Blue Elephant Energy
Bluefield Solar Income Fund
CCE
CVE GROUP
EDF
EDP
EF SOLARE ITALIA
ELEVION GROUP
ENBW
ENCAVIS
ENECO
ENEL GREEN POWER
ENERGIEKONTOR
ENERLAND
ENERPARC
ENERY
ENGIE
ENI
ERG EVOLVING ENERGIES
EUROPEAN ENERGY
GALP ENERGIA
GENERAL SOLAR
GOLDBECK SOLAR
GREENCELLS GROUP
GREENVOLT POWER
IB VOGT
IBERDROLA
JPEE
LIGHTSOURCE BP
NEOEN
POWER CAPITAL RENEWABLE ENERGY
R POWER
REDEN SOLAR
REZOLV ENERGY
RP GLOBAL
RUBIS
RWE
SCATEC
SOLARIA
SOLEIRE RENEWABLES
SONNEDIX
STATKRAFT
SUNLY
TENERGIE
TOTALENERGIES
VOLTALIA
WELINK GROUP
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╳THE PHOTOVOLTAIC MARKET IN EUROPE BY 20304 500 €
September 2025 | EN 4 500 €
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