In 2023, Germany led the European solar thermal market with a share of 28.51 terajoules, despite a slight decline of 0.15%. Spain, Greece, and Italy followed with growth rates of 3.53%, 2.65%, and 3.87% respectively. Meanwhile, Poland and Finland reported the most significant year-on-year growth at 11.7% and 9.22%. Conversely, Austria and Sweden faced declines of 0.74% and 2.0% respectively. Looking at the five-year compound annual growth rate (CAGR), a mix of growth and declines features prominently across Europe.
Future trends to watch in the European solar thermal sector include:
- Emerging markets in Eastern Europe, with Poland and Romania showing robust growth potential.
- Technological advancements in solar thermal efficiency, potentially boosting adoption rates.
- Policy incentives aiming to offset declines in leader markets like Germany and Austria.
- Integration with other renewable technologies for a comprehensive energy solution.
Top countries in Solar Thermal Available for Final Consumption Share by Country (Terajoules)
| # | 10 Countries | Percent | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Germany | 28.51 | 2023 | +0.26% | -0.15% | View data |
| 2 | 2 Spain | 13.44 | 2023 | +2.83% | +3.53% | View data |
| 3 | 3 Greece | 11.89 | 2023 | +1.93% | +2.65% | View data |
| 4 | 4 Italy | 9.94 | 2023 | +3.44% | +3.87% | View data |
| 5 | 5 France | 8.08 | 2023 | +2.95% | +3.44% | View data |
| 6 | 6 Austria | 6.47 | 2023 | -0.79% | -0.74% | View data |
| 7 | 7 Portugal | 4.28 | 2023 | +3.59% | +3.8% | View data |
| 8 | 8 Poland | 3.73 | 2023 | +7.45% | +11.7% | View data |
| 9 | 9 Cyprus | 2.92 | 2023 | +2.35% | +1.96% | View data |
| 10 | 10 United Kingdom | 2.21 | 2023 | +2.08% | +2.13% | View data |
