European solar panel market is estimated to grow at a CAGR of 7.0% during the forecast period. The major factors boosting the market growth include a significant rise in the demand for solar energy and increasing incentives for renewable energy sources in the region. For instance, the European Union installed around 8.0 GW of solar power systems in 2018; that is a 36% year-on-year increase over the 5.9 GW connected to the grid in EU-28 in 2017, according to an estimate from Solar Power Europe, the association for the solar power sector in Europe.