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Power Market in Western Europe to 2020: Increasing Focus on Renewable Power to Change the Energy Mix
Power Market in Western Europe to 2020: Increasing Focus on Renewable Power to Change the Energy Mix
Germany and France, Largest Power Markets by Installed Capacity in the Western Europe
kent,
sidcup,
United Kingdom
(prbd.net)
15/06/2010
"Power Market in Western Europe to 2020: Increasing Focus on Renewable Power to Change the Energy Mix"
GBI Research, the leading business intelligence provider, has released its latest report, “Power Market in Western Europe to 2020: Increasing Focus on Renewable Power to change the Energy Mix”. The report gives an in-depth analysis of the top 10 Western Europe- power markets, (France, Germany, Austria, The United Kingdom, Spain, The Netherlands, Switzerland, Sweden, Norway and Italy). . The research analyzes the regulatory framework and infrastructure of the power sector in these 10 countries. It provides a detailed forecast of the installed capacity by thermal, hydro, renewable and nuclear sources in each of the top 10 countries up to 2020. The report also includes detailed information on the active and upcoming power plants in the top 10 Western Europe power markets.
Germany emerges as the largest power market by installed capacity among the Western Europe countries with a share of 21.5% in the total installed capacity. France is the second largest market having a share of 17.5% in total installed capacity. This was followed by Italy and Spain having a share of 14.7% and 14.2% in the total installed capacity. United Kingdom has a market share of 12.7% in total installed capacity and is the fifth largest country by installed capacity among the Western Europe countries.
Most of the Western Europe countries will see a growth in electricity consumption. Increase in electricity consumption will require increased generation in the countries. This region has shown increased consumption during the period 2000-2008 due to industrialization, increasing population and extreme climate conditions. In the year 2009, the total consumption of the entire Western Europe declined due to the economic downturn. Since the industry sector, which consumes the highest percentage of electricity, was negatively affected by the global economic downturn, there was an overall decline in total power consumption during this period.
With an upturn in the global economy expected from 2010, electricity consumption is expected to increase moderately during the forecast period 2010-2020. However, the electricity consumption will be strongly impacted by electricity prices and energy efficiency policies.
Electricity demand contracted in 2009 owing to the global economic downturn and a decline in economic activities in the region. However, during the forecast period 2010-2020, the demand for electricity is expected to increase and hence new power plants are expected to be built to maintain a sustainable reserve margin in the region. These countries are increasing their power generating capacities to meet their growing electricity demand. Owing to this, demand for power is growing quickly translating to wide area of growth opportunities in all segments of the power sector.
The countries are actively augmenting its capacity through clean energy sources, namely, wind ,solar photovoltaic and other renewables. Countries such as Germany, France, United Kingdom and Austria have set target to generate 30%, 20%, 15% and 34% respectively from renewable sources by 2020/ 2025. In order to achieve this target, the Government has undertaken several incentives in the form of tax relief, capital cost grants and subsidies.
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