Solar EPC Global Market Report 2025

The solar EPC (engineering, procurement, and construction) refers to the process of designing, planning, and installation of solar power plants or systems, including engineering, procurement, and construction services. This involves sourcing and acquiring all the necessary materials, equipment, and components required for the solar project.

The main mounting types of solar EPC are ground, rooftop, and floating. Rooftop refers to the installation of solar power systems on the roofs of buildings that involves designing, installing, and maintaining solar power systems on rooftops. The various technologies include concentrated solar power and photovoltaic, which are used by several end-users, such as residential, commercial, industrial.

Note that the outlook for this market is being affected by rapid changes in trade relations and tariffs globally. The report will be updated prior to delivery to reflect the latest status, including revised forecasts and quantified impact analysis. The report's Recommendations and Conclusions sections will be updated to give strategies for entities dealing with the fast-moving international environment.

The sharp escalation of U.S. tariffs and resulting trade tensions in spring 2025 are significantly affecting the electrical and electronics sector. Key components such as semiconductors, display panels, and rare-earth metals crucial for batteries and motors are now facing heavy duties. Consumer electronics companies are seeing profit margins shrink, as fierce competition makes it difficult to pass on rising costs to consumers. At the same time, industrial electronics firms are experiencing project delays due to shortages of tariff-impacted parts like printed circuit boards. In response, businesses are shifting assembly operations to tariff-exempt nations, building up inventory reserves, and redesigning products to reduce reliance on restricted materials.

The main mounting types of solar EPC are ground, rooftop, and floating. Rooftop refers to the installation of solar power systems on the roofs of buildings that involves designing, installing, and maintaining solar power systems on rooftops. The various technologies include concentrated solar power and photovoltaic, which are used by several end-users, such as residential, commercial, industrial.

The solar epc market size has grown strongly in recent years. It will grow from $232.58 billion in 2024 to $246.41 billion in 2025 at a compound annual growth rate (CAGR) of 5.9%. The growth in the historic period can be attributed to government incentives and subsidies, decreasing costs of solar technology, environmental awareness and sustainability, energy independence goals, rising energy demand.

The solar epc market size is expected to see strong growth in the next few years. It will grow to $302.47 billion in 2029 at a compound annual growth rate (CAGR) of 5.3%. The growth in the forecast period can be attributed to focus on decentralized energy systems, development of floating solar projects, government commitments to renewable energy, global transition to clean energy, environmental awareness and sustainability. Major trends in the forecast period include bifacial solar technology adoption, energy storage integration, digitalization and IoT integration, floating solar farms, green financing and sustainable investments, decentralized energy generation, innovations in solar tracking systems.

The forecast of 5.3% growth over the next five years reflects a sligth reduction of 0.2% from the previous projection. This reduction is primarily due to the impact of tariffs between the US and other countries. This is likely to directly affect the US through higher expenses for mounting structures and tracking systems, sourced from India and Mexico, increasing overall project costs for engineering, procurement and construction firms. The effect will also be felt more widely due to reciprocal tariffs and the negative effect on the global economy and trade due to increased trade tensions and restrictions.

The growing demand for renewable energy sources is expected to drive the growth of the solar EPC (Engineering, Procurement, and Construction) market. Renewable energy refers to energy derived from naturally replenishing resources, such as sunlight, wind, rain, tides, waves, geothermal heat, and biomass. Solar EPC plays a crucial role in the implementation of solar energy projects by offering a comprehensive approach that includes design, procurement, and construction. This method helps optimize costs, ensure quality, and streamline the entire process, making it essential for the development and expansion of renewable energy, particularly solar power. For instance, in September 2024, according to data published by the UK Department for Energy Security and Net Zero, renewable energy accounted for 51.6% of total energy generation in Q2 2024, marking a 9.9 percentage point increase compared to Q2 2023. Solar PV accounted for three-quarters of these new installations. Therefore, the rising demand for renewable energy sources is fueling the growth of the solar EPC market.

Major companies operating in the solar EPC market are introducing utility-scale solar engineering, procurement, and construction (EPC) divisions to expand their renewable energy services portfolio and gain a competitive edge in the market. Utility-scale solar EPC units are essential to the development of large-scale solar energy projects because they guarantee the effective design, construction, and commissioning of the systems for maximum energy production. For instance, in September 2022, Jingoli Power, a US-based company that offers solar EPC, launched a new solar engineering, procurement, and construction (EPC) division to expand its renewable energy services portfolio. The new EPC unit aims to leverage the company's program and project management, construction, and materials management experience to support reliable utility-scale solar development. The expansion of the EPC Solar unit supports the execution of two US EPC projects with Lightsource BP and plans to take on utility-scale solar projects in the future.

In April 2022, SinglePoint Inc., a US-based renewable energy and sustainable solutions provider, completed the acquisition of the Boston Solar Company for an undisclosed amount. This acquisition is part of SinglePoint's strategy to curate a portfolio of renewable energy-focused companies, with a focus on solar, EV charging, and energy storage. The acquisition enables SinglePoint to offer best-in-class national solutions for customers seeking premium solar installation services, thereby enhancing its position as a one-stop shop for renewable energy solutions. The Boston Solar Company LLC is a US-based company that provides full solar EPC (engineering, procurement, and construction) services to residential and commercial customers.

Major companies operating in the solar EPC market are Bechtel Corp., Siemens Gamesa Renewable Energy S.A., Adani Group, Canadian Solar Inc., Xylem Inc., First Solar Inc., Black & Veatch Holding Company, Blattner Energy, Renewable Energy System Ltd., Juwi AG, Sterling and Wilson Pvt. Ltd., Anesco Ltd., Vikram Solar Limited, DEPCOM Power Inc., Q Cells, Core Development Group, Alas Solar System LLC, Sunel Group, Enerparc AG, Greenspark Solar, BELECTRIC Solar & Battery Holding GmbH, Strata Solar LLC, Hild Energy Pvt. Ltd., LNB Renewable, Eternia Solar, Swinerton Renewable Energy, Tata Power Solar Systems Ltd.

North America was the largest region in the solar EPC market in 2024. The regions covered in the solar EPC market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the solar EPC market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The solar EPC market includes revenues earned by entities by providing end-to-end solar energy services, project development, operations and management, and the installation of solar panels and related equipment. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

Solar EPC Global Market Report 2025 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses on solar epc market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

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Where is the largest and fastest growing market for solar epc ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward, including technological disruption, regulatory shifts, and changing consumer preferences? The solar epc market global report from the Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

• The market characteristics section of the report defines and explains the market.
• The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
• The forecasts are made after considering the major factors currently impacting the market. These include:

The forecasts are made after considering the major factors currently impacting the market. These include the technological advancements such as AI and automation, Russia-Ukraine war, trade tariffs (government-imposed import/export duties), elevated inflation and interest rates.

• Market segmentations break down the market into sub markets.
• The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth.
• The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
• The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.

Scope

• Markets Covered:1) By Mounting Type: Ground; Rooftop; Floating
• 2) By Technology: Concentrated Solar Power; Photovoltaic
• 3) By End-User: Residential; Commercial; Industrial
• Subsegments:
• 1) By Ground: Fixed Tilt Ground Mount; Single Axis Tracking Ground Mount; Dual Axis Tracking Ground Mount
• 2) By Rooftop: Residential Rooftop; Commercial Rooftop; Industrial Rooftop
• 3) By Floating: Fixed Floating Solar Systems; Tracking Floating Solar Systems
• Companies Mentioned:Bechtel Corp.; Siemens Gamesa Renewable Energy S.A.; Adani Group; Canadian Solar Inc.; Xylem Inc.; First Solar Inc.; Black & Veatch Holding Company; Blattner Energy; Renewable Energy System Ltd.; Juwi AG; Sterling and Wilson Pvt. Ltd.; Anesco Ltd.; Vikram Solar Limited; DEPCOM Power Inc.; Q Cells; Core Development Group; Alas Solar System LLC; Sunel Group; Enerparc AG; Greenspark Solar; BELECTRIC Solar & Battery Holding GmbH; Strata Solar LLC; Hild Energy Pvt. Ltd.; LNB Renewable; Eternia Solar; Swinerton Renewable Energy; Tata Power Solar Systems Ltd.
• Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
• Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
• Time Series: Five years historic and ten years forecast.
• Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
• Data Segmentations: country and regional historic and forecast data, market share of competitors, market segments.
• Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
• Delivery Format: PDF, Word and Excel Data Dashboard.