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North America Solar EPC Market Trends

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

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North America Solar EPC Market Trends

Growing number of utility scale solar farms coupled with rising investments for solar energy will fuel the product demand. For instance, in February2024, Lightsource bp received USD 348 million financing package for its 2 utility-scale solar projects in Texas. Furthermore, increasing use of modern & smart solutions such as digital twins by major EPC players to improve planning, specifications, operational efficiency & personnel training for projects will complement the business scenario in the forecasted timeframe.

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.