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Europe Solar EPC Market Trends

Report ID: GMI8676
Published Date: Mar 2024
Report Format: PDF

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Europe Solar EPC Market Trends

Ongoing policy frameworks, technological product advancements, and environmental considerations will improve the market dynamics. The EU has set ambitious renewable energy targets, aiming for at least 32% of final energy consumption to come from renewable sources by 2030. This directive provides a regulatory framework that supports the deployment of solar energy projects, driving the demand for solar EPC services. Moreover, the European countries are using competitive auctions to procure solar energy capacity. Ongoing collaborations with EPC companies to ensure project competitiveness and successful project execution will positively strengthen the product demand.

Authors: Ankit Gupta, Srishti Agarwal

Frequently Asked Questions (FAQ) :

European market for solar EPC was reached USD 79.1 billion in 2023 and is anticipated to witness 5.3% CAGR from 2024 to 2032, due to its assistance in design, procurement of all necessary materials and components, and construction of a complete solar power plant or project.

Europe solar EPC market from the PV technology segment may exceed USD 123.5 billion by 2032, due to significant decrease in the cost of photovoltaic (PV) panels, making solar installations more accessible and affordable for a broader range of customers.

Germany solar EPC market size is set to grow at over USD 30.5 billion by 2032 owing to favorable government policies, technological advancements, economic incentives, and societal support for renewable energy.

Few of the leading solar EPC firms in Europe are AE Solar, BELECTRIC, Comal SpA, CJR Renewables, CHINT SOLAR (ZHEJIANG) CO., LTD., Equans, Elmya EPC, and Fraunhofer CSP, among others.