Austria Renewable Energy Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)
The Austrian renewable energy market is expected to register a CAGR of around 12.5% during the forecast period. The COVID-19 outbreak did not affect the renewable energy market significantly, as the country witnessed hassle-free execution of projects in 2020. In 2020, the solar PV capacity grew by 30% compared to 2019. The other renewable technologies, particularly wind and hydro, also witnessed steady growth in their installed capacities. The Austrian renewable energy market is likely to develop in the future due to the continuous technological developments and the availability of substantial funds by public and private organizations to develop the renewable energy sector. However, the high oil and gas security in the form of oil and gas storage and well-developed value chain infrastructure is expected to hinder the market’s growth in the future.
Key HighlightsThe Austrian renewable energy market is fragmented. Some of the key players include Wien Energy GmbH, Engie SA, Austria Energy Group, Andritz AG, and GreenTech Cluster Styria GmbH.
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