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North America Solar EPC Market Analysis

Report ID: GMI8917
Published Date: Apr 2024
Report Format: PDF

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North America Solar EPC Market

North America Solar EPC Market size was valued at USD 33.8 billion in 2023 and is anticipated to grow at a CAGR of 6.3% from 2024 to 2032. It refers to the process of designing, procuring and constructing solar energy systems, such as photovoltaic (PV) power plants or rooftop installations. The companies are responsible for the entire project lifecycle, from initial planning and engineering to installation, testing, and commissioning.

North America Solar EPC Market

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Ongoing adoption by major authorities to fulfil clean energy requirements across multiple applications in line with increasing research and development initiatives will augment the business landscape. For instance, according to the SEIA, for the first nine months of 2022, solar constituted 45% of new electricity generation capacity in the U.S. Moreover, significant variations and upgrades in line with adoption of effective manufacturing practices by EPC players will drive the industry outlook.

North America Solar EPC Market Report Attributes
Report Attribute	Details
Base Year:	2023
North America Solar EPC Market Size in 2023:	USD 33.8 Billion
Forecast Period:	2024 to 2032
Forecast Period 2024 to 2032 CAGR:	6.3%
2032 Value Projection:	USD 56.8 Billion
Historical Data for:	2019 to 2023
No. of Pages:	100
Tables, Charts & Figures:	220
Segments covered:	Technology, Classification, End-Use and Country
Growth Drivers:	Rising deployment of clean energy sources Increasing investments by the governing authorities Upgradation of existing infrastructure
Pitfalls & Challenges:	Supply chain disruptions

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Authors: Ankit Gupta, Srishti Agarwal

Frequently Asked Questions (FAQ) :

North America Solar EPC industry size was registered at USD 33.8 billion in 2023 and will grow at a 6.3% CAGR between 2024 and 2032, propelled by increasing environmental awareness and corporate sustainability goals coupled with supportive government policies and incentives.

The ground mounted solar EPC market will record more than 5.5% industry share by 2032, primarily due to vast open spaces suitable for solar installations, favorable government policies, and declining costs of solar technology.

The PV solar EPC will achieve USD 56.5 billion by 2032, driven by increasing demand for a commercially viable, dependable, and efficient solution with substantial potential for long-term growth in renewable energy.

Prominent companies, including Abengoa, Bechtel Corporation, BHEL, Black & Veatch Holding Company, Canadian Solar, JUWI, L&T Construction, Siemens Gamesa Renewable Energy, S.A., SynerGen Solar, Vikram Solar Ltd are operating in the North America Solar EPC industry.