Solar Energy Market Size in Ukraine to Grow by 932.10 MW: Report

The solar energy market in Ukraine is fragmented due to the presence of numerous international and regional players. The market constitutes pure-play, industry-focused, as well as diversified vendors.

The competition in the market is high due to the presence of a wide range of competitors offering many products and solutions. However, the high capital requirement will render the threat of rivalry to be moderate.

Technavio identifies Afore Ukraine, Atmosphere - Nature Technologies LLC, Ekotekhnik Ukraine LLC, Energy System Group, Intersource Ltd., SolarGaps, Solars Re-Energy Group, SUNSAY energy, Tesla Energo, and Voltage Group as major market participants.

The market is primarily driven by increasing developments in the implementation of renewable energy. Over the years, renewable technology has considerably evolved and is competing with fossil fuel-based power generation technology.

The rising concerns over carbon emissions has increased investments in renewable energy sources, including solar power. This is creating a huge demand for solar power generation technologies, thereby driving the market in focus.