North Europe Renewable Energy Market Size & Share Analysis - Growth Trends & Forecasts (2025 - 2030)

The Report Covers the Top Renewable Energy Companies in North Europe and the market is segmented by Type (Wind, Hydro, Solar, and Others) and Geography (Sweden, Norway, UK, and the Rest of North Europe). The market size and forecasts are provided in installed capacity (GW).

North Europe Renewable Energy Market Size & Share Analysis - Growth Trends & Forecasts (2025 - 2030)

North Europe Renewable Energy Market Size

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North Europe Renewable Energy Market Summary
Study Period 2021 - 2030
Base Year For Estimation 2024
Forecast Data Period 2025 - 2030
Historical Data Period 2021 - 2023
CAGR 4.00 %
Market Concentration Low

Major Players

North Europe Renewable Energy Market Major Players

*Disclaimer: Major Players sorted in no particular order

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North Europe Renewable Energy Market Analysis

The North Europe Renewable Energy Market is expected to register a CAGR of greater than 4% during the forecast period.

COVID-19 negatively impacted the market in 2020. Currently, the market has reached pre-pandemic levels.

  • Over the medium term, factors such as rising environmental concerns, government policies for incentives and tax benefits for renewable project development, and the high cost of grid expansion are expected to drive the market. Also, advancement in technology, leading to renewable energy technology manufacturing cost reduction and an increase in power generation efficiency, is a significant factor in the growth of the North Europe renewable energy market.
  • On the other hand, high initial CAPEX is likely to restrain the growth of the North Europe renewable energy market in the coming years.
  • However, the increasing focus on producing clean energy and the gradual shift from energy generation from conventional sources such as coal and natural gas to clean energy is expected to create an excellent opportunity for the renewable energy players in the region.
  • Norway has dominated the renewable energy market in the region due to supportive government policies.

North Europe Renewable Energy Industry Overview

The North Europe Renewable Energy Market is fragmented. Some of the key players in this market include (not in particular order) Ørsted AS, Vestas Wind Systems AS, Statkraft AS, E-CO Energi Holding As, and Vattenfall AB.

North Europe Renewable Energy Market Leaders

  1. Ørsted AS

  2. Vestas Wind Systems AS

  3. Statkraft AS

  4. E-CO Energi Holding As

  5. Vattenfall AB

  6. *Disclaimer: Major Players sorted in no particular order
Pactiv Evergreen, Amcor Ltd, Genpack LLC, Graham Packaging Company, Ball Corporation
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North Europe Renewable Energy Market News

  • August 2022: Ørsted announced that the world's largest installed wind farm, Hornsea 2, is fully operational. The 1.3GW offshore wind farm comprises 165 wind turbines, located 89km off the Yorkshire Coast, which will help power over 1.4 million United Kingdom homes with low-cost, clean, and secure renewable energy.
  • June 2022: OX2 applied for a permit to build a massive 5.5 gigawatt (GW) offshore wind farm in the Baltic Sea. If approved, it will be the world's largest single offshore wind farm. The USD18 billion offshore wind farm will feature up to 370 wind turbines with a maximum height of 370 meters (1,213 feet).

North Europe Renewable Energy Market Report - Table of Contents

1. INTRODUCTION

  • 1.1 Scope of the Study
  • 1.2 Market Definition
  • 1.3 Study Assumptions

2. EXECUTIVE SUMMARY

3. RESEARCH METHODOLOGY

4. MARKET OVERVIEW

  • 4.1 Introduction
  • 4.2 Installed Capacity and Forecast in MW, till 2027
  • 4.3 Installed Total Renewable Energy Capacity, in MW, by Country, 2021
  • 4.4 Recent Trends and Developments
  • 4.5 Market Dynamics
    • 4.5.1 Drivers
    • 4.5.2 Restraints
  • 4.6 Supply Chain Analysis
  • 4.7 Porter's Five Forces Analysis
    • 4.7.1 Bargaining Power of Suppliers
    • 4.7.2 Bargaining Power of Consumers
    • 4.7.3 Threat of New Entrants
    • 4.7.4 Threat of Substitutes Products and Services
    • 4.7.5 Intensity of Competitive Rivalry

5. MARKET SEGMENTATION

  • 5.1 Type
    • 5.1.1 Wind
    • 5.1.2 Hydro
    • 5.1.3 Solar
    • 5.1.4 Others
  • 5.2 Geography
    • 5.2.1 Sweden
    • 5.2.2 Norway
    • 5.2.3 United Kingdom
    • 5.2.4 Rest of North Europe

6. COMPETITIVE LANDSCAPE

  • 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
  • 6.2 Strategies Adopted by Leading Players
  • 6.3 Company Profiles
    • 6.3.1 Siemens Gamesa Renewable Energy SA
    • 6.3.2 General Electric Company
    • 6.3.3 Orsted AS
    • 6.3.4 Vestas Wind Systems AS
    • 6.3.5 E.ON SE
    • 6.3.6 Statkraft AS
    • 6.3.7 E-CO Energi
    • 6.3.8 Vattenfall AB
    • 6.3.9 Nordex SE
  • *List Not Exhaustive

7. MARKET OPPORTUNITIES AND FUTURE TRENDS

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North Europe Renewable Energy Industry Segmentation

Renewable energy is collected from renewable resources that are naturally replenished on a human timescale. It includes sources such as sunlight, wind, water movement, and geothermal heat.

The North European Renewable Energy Market is segmented by type and geography. By type, the market is segmented into wind, hydro, solar, and others. The report also covers the market size and forecasts for the renewable energy market in major countries. For each segment, the market sizing and forecasts have been done based on installed capacity (GW).

Type Wind
Hydro
Solar
Others
Geography Sweden
Norway
United Kingdom
Rest of North Europe
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North Europe Renewable Energy Market Research FAQs

What is the current North Europe Renewable Energy Market size?

The North Europe Renewable Energy Market is projected to register a CAGR of greater than 4% during the forecast period (2025-2030)

Who are the key players in North Europe Renewable Energy Market?

Ørsted AS, Vestas Wind Systems AS, Statkraft AS, E-CO Energi Holding As and Vattenfall AB are the major companies operating in the North Europe Renewable Energy Market.

What years does this North Europe Renewable Energy Market cover?

The report covers the North Europe Renewable Energy Market historical market size for years: 2021, 2022, 2023 and 2024. The report also forecasts the North Europe Renewable Energy Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.

North Europe Renewable Energy Industry Report

Statistics for the 2025 North Europe Renewable Energy market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. North Europe Renewable Energy analysis includes a market forecast outlook for 2025 to 2030 and historical overview. Get a sample of this industry analysis as a free report PDF download.