Ground Mounted Solar EPC Market Size & Share, By Capacity (1 to 3 MW, 3 to 10 MW, 10 to 50 MW, > 50 MW), End Use (Commercial & Industrial, Utility), Regional Outlook, Regional Forecast, Industry Players, Growth Statistics Report 2024-2032

Market Outlook:

Ground Mounted Solar EPC Market exceeded USD 105.6 Billion in 2023 and is expected to reach USD 154.25 Billion by end of the year 2032, witnessing more than 4.3% CAGR between 2024 and 2032.

• Base Year Value (2023): USD 105.6 Billion
• CAGR (2024-2032): 4.3%
• Forecast Year Value (2032): USD 154.25 Billion
• Historical Data Period: 2019-2023
• Largest Region: Asia Pacific
• Forecast Period: 2024-2032

Market Dynamics:

Growth Drivers & Opportunity:

One of the primary growth drivers in the Ground Mounted Solar EPC Market is the increasing global emphasis on renewable energy sources. Governments and organizations worldwide are actively promoting and investing in solar energy to mitigate climate change and reduce dependence on fossil fuels. Incentives such as tax credits, rebates, and favorable policies are encouraging industries and residential sectors to adopt solar solutions, which in turn is propelling the demand for EPC services in ground-mounted solar projects.

Another significant growth driver is technological advancements in photovoltaic (PV) systems and energy storage solutions. Innovations in solar panel efficiency, battery storage capabilities, and tracking systems are making solar energy more accessible and cost-effective. These technological improvements not only enhance the overall performance of ground-mounted solar installations but also attract investments, leading to increased activity in the EPC sector as more firms look to capitalize on these advancements.

The rise of large-scale solar power projects due to the falling costs of solar energy infrastructure is also a vital growth driver. As the economics of solar technology improve, utility companies and independent power producers are increasingly investing in extensive ground-mounted solar farms. These large-scale deployments require specialized EPC services to handle the design, engineering, procurement, and construction, further stimulating the market's growth.

Report Scope

Report Coverage	Details
Segments Covered	Capacity, End Use
Regions Covered	• North America (United States, Canada, Mexico) • Europe (Germany, United Kingdom, France, Italy, Spain, Rest of Europe) • Asia Pacific (China, Japan, South Korea, Singapore, India, Australia, Rest of APAC) • Latin America (Argentina, Brazil, Rest of South America) • Middle East & Africa (GCC, South Africa, Rest of MEA)
Company Profiled	Abengoa, BHEL, Goldi Solar, JUWI, Jakson Group, Mahindra Susten, LARSEN & TOUBRO LI, MITED, SUNEL Group, Tata Power Solar Systems., The SOLA Group, VIKRAM SOLAR LTD., Waaree Energies.

Industry Restraints:

Despite the promising prospects, the Ground Mounted Solar EPC Market faces several restraints, one of which is the regulatory and permitting challenges associated with solar installations. Different regions have varying regulations, and navigating through the permitting process can be time-consuming and complex. These challenges can delay project timelines and increase costs, making it difficult for EPC companies to maintain profitability and efficiency.

Moreover, fluctuations in government policies and incentives can significantly impact the market. Changes in subsidies or support programs for renewable energy can create uncertainty for investors and developers, leading to hesitancy in committing to new solar projects. This volatility can hinder the growth of the Ground Mounted Solar EPC Market as firms may be wary of entering an unstable regulatory environment.

Regional Forecast:

North America

The Ground Mounted Solar EPC market in North America is primarily driven by the increasing adoption of renewable energy sources and supportive government policies aimed at reducing carbon emissions. The U.S. leads the market, with substantial investments in solar infrastructure and a growing number of utility-scale projects. States like California and Texas exhibit high solar capacity due to favorable climates and regulatory frameworks. Canada, while lagging behind the U.S., is seeing increased interest in solar energy, particularly in provinces like Ontario and Alberta, spurred by incentives and initiatives to combat climate change. The overall trend is towards enhanced energy independence and a shift from fossil fuels to sustainable energy solutions.

Asia Pacific

In Asia Pacific, the Ground Mounted Solar EPC market is experiencing rapid growth, led by China, which is the largest producer and consumer of solar energy globally. The Chinese government has implemented aggressive policies to boost solar installations, including subsidies and feed-in tariffs, resulting in a substantial number of ground-mounted solar projects. Japan is emerging as a significant player in the region, focusing on solar energy post-Fukushima, with increased investments in renewable energy. South Korea is also progressing with its Green New Deal initiative, which emphasizes solar energy development as a key component of its energy transformation strategy. The overall growth in this region is also supported by technological advancements and decreasing costs of solar installations.

Europe

The European Ground Mounted Solar EPC market is characterized by strong regulatory support and a commitment to renewable energy transition among member states. The United Kingdom has made significant strides in solar power adoption, with numerous large-scale ground-mounted projects, supported by various initiatives and a focus on energy security. Germany remains a frontrunner in solar energy, with long-established policies promoting renewable sources, leading to widespread adoption of ground-mounted solar systems. France is also prioritizing solar energy, with ambitious targets for solar installation as part of its energy mix. The region is expected to continue its focus on sustainability and reducing reliance on fossil fuels, positioning ground-mounted solar as a pivotal element of its energy strategy.

Segmentation Analysis:

In terms of segmentation, global Ground Mounted Solar EPC market is analyzed on the basis of Capacity, End Use.

Segment Analysis on Ground Mounted Solar EPC Market

By Capacity

The Ground Mounted Solar EPC Market can be segmented by capacity into four key categories: 1 to 3 MW, 3 to 10 MW, 10 to 50 MW, and greater than 50 MW. The segment of 1 to 3 MW is typically driven by smaller commercial and industrial projects, which have seen sustained interest as businesses seek to enhance their sustainability efforts while minimizing energy costs. This category serves as a crucial entry point for many users transitioning to renewable energy. The 3 to 10 MW segment caters to mid-sized businesses and larger installations, providing more substantial energy solutions that can significantly reduce the carbon footprint. The 10 to 50 MW segment primarily targets utility-scale projects, enabling the delivery of large volumes of energy to the grid and appealing to renewable energy mandates and policies aimed at reducing dependency on fossil fuels. Lastly, the segment of greater than 50 MW represents the largest installations, often commissioned by utility providers seeking to meet significant energy demands with renewable sources. This category is poised for significant growth as government incentives and increasing public demand for sustainable energy solutions drive investment in large-scale solar projects.

By End Use

The Ground Mounted Solar EPC Market can also be analyzed based on end use, divided into two main segments: Commercial & Industrial and Utility. The Commercial & Industrial segment has been gaining traction as businesses increasingly recognize the economic benefits of solar energy. This segment not only helps companies reduce electricity costs but also serves as a means to improve their corporate social responsibility profiles. Firms seeking to meet sustainability targets or enhance their energy independence are major contributors to growth in this segment. On the other hand, the Utility segment plays a pivotal role in the overall growth of the solar EPC market. Utility-scale projects are essential for meeting the energy requirements of larger populations, and with the global shift towards renewable energy, utilities are increasingly investing in solar farms. Governmental policies supporting renewable energy initiatives further bolster this segment, marking it as a critical driving force behind the larger market dynamics. As more countries implement favorable regulations and incentives for solar energy, both segments are expected to witness robust growth, thereby contributing significantly to the expansion of the Ground Mounted Solar EPC Market.

Competitive Landscape:

The competitive landscape in the Ground Mounted Solar EPC Market is characterized by a diverse range of players, including established energy companies, specialized EPC (Engineering, Procurement, and Construction) firms, and new entrants focusing on renewable energy solutions. Key trends influencing the market include technological advancements in solar panel efficiency, growing demand for sustainable energy sources, and increasing government initiatives promoting solar energy adoption. Major companies are focusing on strategic partnerships, mergers, and acquisitions to enhance their service offerings and expand their geographic reach. The market is also witnessing a shift towards integrated solutions that combine design, installation, and maintenance services to meet the evolving needs of customers.

Top Market Players

1. First Solar

2. Trina Solar Limited

3. Canadian Solar

4. JinkoSolar

5. SunPower Corporation

6. Siemens Gamesa Renewable Energy

7. Bechtel

8. Enphase Energy

9. Hanwha Q CELLS

10. Longi Solar