Home > Energy & Power > Electrical Equipment > Solar Parts and Components > Ground Mounted Solar EPC Market

Ground Mounted Solar EPC Market Size

Report ID: GMI9446
Published Date: May 2024
Report Format: PDF

Download Free Sample

Ground Mounted Solar EPC Market Size

Ground Mounted Solar EPC Market was valued USD 105.6 billion in 2023 and is anticipated to grow at a CAGR of over 4.2% between 2024 and 2032. These refer to large-scale solar energy projects that are installed on the ground, as opposed to rooftops or other elevated structures. EPC systems are turnkey solutions where a single contractor or consortium is responsible for the design, procurement, construction, and commissioning of the solar photovoltaic (PV) system.

To get key market trends

Download Free Sample

Reducing cost of solar photovoltaic (PV) technology driven by technological advancements, economies of scale, and improvements in manufacturing processes will augment the industry landscape. Ongoing implementation of supportive policies and incentives comprising feed-in tariffs, tax credits, renewable energy targets, and net metering schemes, to promote the adoption of solar energy will strengthen the product demand. Additionally, growing concerns about climate change and air pollution will support the transition towards renewable energy sources, thereby augmenting the product penetration.

Ground Mounted Solar EPC Market Report Attributes
Report Attribute	Details
Base Year:	2023
Ground Mounted Solar EPC Market Size in 2023:	USD 105.6 Billion
Forecast Period:	2024 to 2032
Forecast Period 2024 to 2032 CAGR:	4.2%
2032 Value Projection:	USD 152.8 Billion
Historical Data for:	2021 to 2023
No. of Pages:	120
Tables, Charts & Figures:	25
Segments covered:	Capacity, End Use and Region
Growth Drivers:	Rising adoption of sustainable energy sources Introduction of industry driven schemes and norms Extensive private and public sector support
Pitfalls & Challenges:	Challenges with permitting od suitable land

Learn more about the key segments shaping this market

Download Free Sample

Advances in solar PV technology, including improvements in efficiency, durability, and reliability, have made ground-mounted solar EPC systems more attractive and viable, which will strengthen the product demand. Additionally, innovations in tracking systems, inverters, and balance-of-system components have further enhanced the performance and cost-effectiveness of these systems, thereby driving the business scenario.

Authors: Ankit Gupta, Srishti Agarwal

Frequently Asked Questions (FAQ) :

The market size of ground mounted solar EPC was reached USD 105.6 billion in 2023 and is anticipated to grow at 4.2% CAGR from 2024 to 2032, owing to the rising adoption of sustainable energy sources.

The utility segment in the ground mounted solar EPC market is set to grow at over 4% CAGR up to 2032, driven by the ability to integrate into the existing electrical grid infrastructure for providing a reliable source of renewable energy to meet growing electricity demand.

Asia Pacific ground mounted solar EPC market size will record over USD 50.5 billion by 2032, favored by the availability of abundant solar resources across major economies of the region including China, India, Australia among others coupled with rapid growth and urbanization.

Abengoa, BHEL, CJR Renewables, Goldi Solar, JUWI, Jakson Group, Mahindra Susten, LARSEN & TOUBRO LIMITED, Siemens Gamesa Renewable Energy, SUNEL Group, Tata Power Solar Systems Ltd., The SOLA Group, VIKRAM SOLAR LTD. and Waaree Energies Ltd.