Ground Mounted Solar EPC Market Size

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.

Industry

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.

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.