유럽의 전력 시장 시장 : 점유율 분석, 업계 동향과 통계, 성장 예측(2026-2031년)

According to Mordor Intelligence, the Europe power market size in terms of installed base is expected to grow from 1.95 Terawatt in 2026 to 2.49 Terawatt by 2031, at a CAGR of 5.06% during the forecast period (2026-2031).

This report is Segmented by Power Source (Thermal, Nuclear, and Renewables), End User (Utilities, Commercial and Industrial, and Residential), and Geography (United Kingdom, Germany, France, Spain, Norway, Denmark, Sweden, Poland, Russia, and Rest of Europe). The Market Sizes and Forecasts are Provided in Terms of Installed Capacity (GW).

Europe Power Market Trends and Insights

EU Fit-for-55 & REPowerEU Decarbonization Mandates

Mandated renewable shares of 42.5% by 2030 and net-zero by 2050 have anchored long-term revenue visibility in the european power market for developers, pushing annual solar additions in Germany to 15 GW and onshore wind to 10 GW, triple the 2020-2023 run-rate. Streamlined permitting that caps approvals at 12 months in priority zones is easing deployment backlogs that once stretched five years, while EUR 300 billion of REPowerEU funds redirects recovery spending toward grid reinforcement and battery co-location. Utility investment portfolios are shifting in tandem, allocating more than 50% of 2026 budgets to renewables and digital networks. Grid codes now reward fast-acting battery storage, spurring 10 GWh of additions in 2024. The taxonomy framework is equally influential because "do-no-significant-harm" rules favor projects with recycling or circular-economy plans, leading turbine makers to announce blade-recycling lines in France and Spain.

Record-Low LCOE of Onshore Wind & Utility-Scale Solar

Onshore wind at EUR 35 per MWh and utility solar at EUR 40 per MWh undercut 2024 coal and gas benchmarks by more than 50%, turning renewables into the default capacity choice in the european power market. Efficiency gains are material: 6 MW onshore turbines yield 30% more output than 2020 machines, and bifacial panels raise solar yields by up to 15%. Spain's 2024 tender cleared at EUR 28 per MWh, while the United Kingdom's latest Contracts-for-Difference round delivered offshore wind at GBP 44 per MWh (USD 56). LCOE deflation has a price-paradox, though; high solar penetration in Denmark triggered midday negative wholesale prices on 42 days in 2024, accelerating power-to-X electrolyzer uptake that reached 2 GW that year. Project economics now embed ancillary-service revenue, adding new valuation levers for investors.

Lengthy Grid Permitting & NIMBY Opposition

Grid build-times average 7-10 years, with local challenges adding two to three years, evident in Germany's 700 km SuedLink that will be 13 years old by first power in 2028, highlighting a key challenge for the european power market. France's TSO reports that 40% of projects face lawsuits, especially near coastal landing points for offshore wind connections. In the United Kingdom, a connection queue of 739 GW stretches out to 15 years for some projects, prompting new "first ready, first connected" rules. Spain cut approval windows to 18 months in designated zones, yet implementation lags in Catalonia and Andalusia, keeping uncertainty high. The delays stranded 12 GW of German wind and solar proposals between 2022 and 2024, equal to EUR 15 billion of stalled capital.

Other drivers and restraints analyzed in the detailed report include:

1. Accelerated Coal & Nuclear Phase-Outs Post-2025
2. Digitalisation of Grids (AI-Enabled Predictive O&M)
3. Congested Cross-Border Interconnector Capacity

For complete list of drivers and restraints, kindly check the Table Of Contents.

Segment Analysis

Renewables contributed 59.40% of the European power market in 2025, and their installed base is advancing at an 8.51% CAGR through 2031. Offshore wind is taking the lead, with 5 GW installed in 2024 and a 25 GW construction queue led by Denmark's 3.5 GW Hornsea Three and several North Sea clusters. Onshore wind added 12 GW in 2024, mainly in Spain, Germany, and Sweden, while utility solar added 18 GW, reflecting Spain's record 6 GW contribution. Hydro remains steady at roughly 200 GW, though Austria's 1 GW pumped-storage commissioning in 2024 highlighted renewed interest in long-duration storage. Biomass, waste-to-energy, geothermal, and tidal together stay below 5% of capacity but meet niche circular-economy and island-mode needs. The influx of low-variable-cost renewables is altering dispatch order, pushing thermal plants into peaker roles with 30%-40% capacity factors versus 60% in 2015.

Conventional generation still anchors system stability. Natural-gas turbines provide about 200 GW of flexible backup, and hydrogen-ready models are emerging to cut residual carbon. Nuclear remains prominent in France and the United Kingdom at 120 GW region-wide, despite Germany's exit. Retiring coal blocks free emissions headroom but leave adequacy gaps until sufficient storage comes online. The Europe power market size for flexible backup technologies is therefore gaining investor attention, with pumped-storage, battery farms, and hydrogen-ready gas expected to command more than 15% of new-build spending by 2031.

Complete Report Scope:

• By Power Source
  • Thermal (Coal, Natural Gas, Oil and Diesel)
  • Nuclear
  • Renewables (Solar, Wind, Hydro, Geothermal, Biomass & Waste, Tidal)
• By End User
  • Utilities
  • Commercial and Industrial
  • Residential
• By T&D Voltage Level (Qualitative Analysis only)
  • High-Voltage Transmission (Above 230 kV)
  • Sub-Transmission (69 to 161 kV)
  • Medium-Voltage Distribution (13.2 to 34.5 kV)
  • Low-Voltage Distribution (Up to 1 kV)
• By Geography
  • United Kingdom
  • Germany
  • France
  • Spain
  • Norway
  • Denmark
  • Sweden
  • Poland
  • Russia
  • Rest of Europe

List of Companies Covered in this Report:

1. EDF
2. Enel
3. Iberdrola
4. RWE
5. Engie
6. Statkraft
7. Orsted
8. National Grid
9. Vattenfall
10. E.ON
11. Verbund
12. Fortum
13. SSE
14. CEZ Group
15. Terna
16. TenneT
17. Red Electrica (REE)
18. Agder Energi
19. Energinet
20. REN

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

TABLE OF CONTENTS

1 Introduction

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

2 Research Methodology

3 Executive Summary

4 Market Landscape

• 4.1 Market Overview
• 4.2 Market Drivers
  • 4.2.1 EU Fit-for-55 & REPowerEU decarbonization mandates
  • 4.2.2 Record-low LCOE of onshore wind & utility-scale solar
  • 4.2.3 Accelerated coal & nuclear phase-outs post-2025
  • 4.2.4 Digitalisation of grids (AI-enabled predictive O&M)
  • 4.2.5 Data-centre electricity demand surge (>20 TWh by 2030)
  • 4.2.6 Hydrogen-ready CCGT retrofits unlocking flexible backup
• 4.3 Market Restraints
  • 4.3.1 Congested cross-border interconnector capacity
  • 4.3.2 Lengthy grid permitting & NIMBY opposition
  • 4.3.3 Volatile wholesale prices eroding utility margins
  • 4.3.4 Critical-mineral supply-chain exposure for renewables
• 4.4 Supply-Chain Analysis
• 4.5 Regulatory Landscape
• 4.6 Technological Outlook
• 4.7 Porter's Five Forces
  • 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
  • 4.7.5 Competitive Rivalry

5 Market Size & Growth Forecasts

• 5.1 By Power Source
  • 5.1.1 Thermal (Coal, Natural Gas, Oil and Diesel)
  • 5.1.2 Nuclear
  • 5.1.3 Renewables (Solar, Wind, Hydro, Geothermal, Biomass & Waste, Tidal)
• 5.2 By End User
  • 5.2.1 Utilities
  • 5.2.2 Commercial and Industrial
  • 5.2.3 Residential
• 5.3 By T&D Voltage Level (Qualitative Analysis only)
  • 5.3.1 High-Voltage Transmission (Above 230 kV)
  • 5.3.2 Sub-Transmission (69 to 161 kV)
  • 5.3.3 Medium-Voltage Distribution (13.2 to 34.5 kV)
  • 5.3.4 Low-Voltage Distribution (Up to 1 kV)
• 5.4 By Geography
  • 5.4.1 United Kingdom
  • 5.4.2 Germany
  • 5.4.3 France
  • 5.4.4 Spain
  • 5.4.5 Norway
  • 5.4.6 Denmark
  • 5.4.7 Sweden
  • 5.4.8 Poland
  • 5.4.9 Russia
  • 5.4.10 Rest of Europe

6 Competitive Landscape

• 6.1 Market Concentration
• 6.2 Strategic Moves (M&A, JVs, Funding, PPAs)
• 6.3 Market Share Analysis (Market Rank/Share for key companies)
• 6.4 Company Profiles (includes Global-level Overview, Market-level Overview, Core Segments, Financials, Strategic Information, Products & Services, Recent Developments)
  • 6.4.1 EDF
  • 6.4.2 Enel
  • 6.4.3 Iberdrola
  • 6.4.4 RWE
  • 6.4.5 Engie
  • 6.4.6 Statkraft
  • 6.4.7 Orsted
  • 6.4.8 National Grid
  • 6.4.9 Vattenfall
  • 6.4.10 E.ON
  • 6.4.11 Verbund
  • 6.4.12 Fortum
  • 6.4.13 SSE
  • 6.4.14 CEZ Group
  • 6.4.15 Terna
  • 6.4.16 TenneT
  • 6.4.17 Red Electrica (REE)
  • 6.4.18 Agder Energi
  • 6.4.19 Energinet
  • 6.4.20 REN

7 Market Opportunities & Future Outlook

• 7.1 White-space & Unmet-need Assessment