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Utility Solar PV EPC Market Size

Report ID: GMI5073
Published Date: Jul 2021
Report Format: PDF

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Utility Solar PV EPC Market Size

Utility Solar PV EPC Market Size was valued at over USD 45 billion in 2020 and is anticipated to grow at a CAGR of over 10% between 2021 and 2030. The solar PV EPC industry defines the engineering, procurement, and construction of PV farms and further includes services provided by contractors including development, operation & maintenance. Ongoing government initiatives, targets, and rebates on renewable sources along with a large deployment of high-capacity projects will drive the industry outlook.

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Utility Solar PV EPC Market Report Attributes
Report Attribute	Details
Base Year:	2020
Utility Solar PV EPC Market Size in 2020:	45.1 Billion (USD)
Forecast Period:	2021 to 2030
Forecast Period 2021 to 2030 CAGR:	10%
2030 Value Projection:	134.5 Billion (USD)
Historical Data for:	2017 to 2020
No. of Pages:	250
Tables, Charts & Figures:	333
Segments covered:	Capacity
Growth Drivers:	Government initiatives and targets for renewable sources Shifting trend toward sustainable energy over conventional fuel Growing deployment of utility scale projects
Pitfalls & Challenges:	Longer payback period Availability of other clean energy alternatives

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Authors: Ankit Gupta, Riya Gupta

Frequently Asked Questions (FAQ) :

Utility solar PV EPC industry share exceeded USD 45 billion in 2020 and will expand at a CAGR of more than 10% from 2021 to 2030.

The >50 MW to 200 MW systems will register a CAGR of over 10% between 2021 and 2030 driven by their cost competitiveness, extensive resource availability, and escalating capacity potential.

Industry revenue in Asia Pacific will exceed USD 190 billion through 2030 owing to the favorable norms, targets, and incentives provided by various countries for increasing the sustainable energy mix.

Major participants in the global market comprise SUNGROW, L&T, SunPower Corporation, Bharat Heavy Electricals Limited, Tata Power Solar Systems, Ritis Meera Infra Energy, COBRA Group, Trina Solar, Bechtel Corporation, ACME Solar, and others.