Utility Solar PV EPC Market Anticipated To Witness Robust Growth, Surpassing $98.86 Billion By 2029

The Utility Solar PV EPC Market Report by The Business Research Company delivers a detailed market assessment, covering size projections from 2025 to 2034. This report explores crucial market trends, major drivers and market segmentation by [key segment categories].

What Is the Current Utility Solar PV EPC Market Size and Its Estimated Growth Rate?
The market size of utility solar pv epc has been expanding swiftly in the past few years. There is anticipated growth from $61.94 billion in 2024 to about $68.89 billion in 2025, and this translates to a compound annual growth rate (CAGR) of 11.2%. The growth observed during the historic period can be linked to several factors which include government policies and incentives, renewable energy goals, support from the public and focus on environmental conservation, stability and reliability of the grid, and the global transition towards renewable energy.

Strong expansion is projected for the utility solar pv epc market in the coming years, with expected growth reaching up to $98.86 billion in 2029, thus displaying a compound annual growth rate (CAGR) of 9.5%. This predicted growth during the forecast period can be tied to progress in project financing, integration with energy storage, competitive procurement mechanisms, corporate power purchase agreements (PPAs), shifts in the global energy demand, and objectives related to curbing climate change. The forecast period is likewise expected to witness significant trends such as the integration of energy storage, hybrid solar projects, application of digital twin technology, usage of grid-forming inverters, development of floating solar farms and decentralized solar power plants, the employment of bidirectional inverters for grid services, community solar efforts, and the advancement in weather forecasting for solar farms.

Purchase the full report for exclusive industry analysis:
https://www.thebusinessresearchcompany.com/purchaseoptions.aspx?id=14217

How Are Emerging Segments Shaping the Utility Solar PV EPC Market Landscape?
The utility solar pv epc market covered in this report is segmented -

1) By Type: Ground-Mounted, Rooftop
2) By Storage: With Storage, Without Storage
3) By End User: Residential, Commercial, Utility uses

Subsegments:
1) By Ground-Mounted: Fixed Tilt Ground-Mounted Systems, Single Axis Tracking Systems, Dual Axis Tracking Systems
2) By Rooftop: Residential Rooftop Systems, Commercial Rooftop Systems, Industrial Rooftop Systems

Get your free sample here:
https://www.thebusinessresearchcompany.com/sample.aspx?id=14217&type=smp

Which Growth Factors Are Influencing Utility Solar PV EPC Market Expansion?
The growing demand for electricity and the requirement for dependable power generation are anticipated to spur the expansion of the utility solar PV EPC market. Electricity is an energy form derived from the flow of charged particles, usually electrons, through a conductor. There is an escalating demand to generate electricity from utility-scale solar photovoltaic (PV) projects to reduce greenhouse gas emissions and mitigate climate change impacts. It provides a substantial and scalable clean energy source, hastening solar energy deployment, and aiding in the shift to more renewable and sustainable energy. As per the data from GOV.UK, a UK government agency, in September 2024, the renewable energy production in 2023 was about the same as in 2022, hitting a record of 135.8 TWh, a 0.3 percent rise from the previous year. Wind generation rose by 2.2 percent to a historic 82.3 TWh, while solar generation increased by 4.1 percent, touching a record 13.9 TWh. Consequently, the rising electricity demand and the necessity for trustworthy power generation catalyze the growth of the utility solar PV EPC market.

Who Are the Dominant Players Across Different Utility Solar PV EPC Market Segments?
Major companies operating in the utility solar PV EPC market are Power Construction Corporation of China, Larsen & Toubro Limited, Trina Solar Co.Ltd., Canadian Solar Inc., Sungrow Power Supply Co. Ltd., Swinerton Renewable Energy Inc., Risen Energy Co. Ltd., Bharat Heavy Electricals Limited, First Solar Inc., SunPower Corporation, JUWI AG, Tata Power Solar Systems Limited, Sterling and Wilson Private Limited, ACME Solar Holdings Limited, TBEA Co. Ltd., Q Cells Co. Ltd., BElectric, STEAG GmbH, Topsun Energy (Hong Kong) Co. Ltd., ALSA Solar Systems LLC, Eiffage SA, Enerparc AG, Ritis Meera Infra Energy Private Limited, Enerparc AG, Ritis Meera Infra Energy

What Are the Latest Developing Trends in the Utility Solar PV EPC Market?
Significant growth is being observed in the utility solar PV EPC market, especially among the major companies, owing to advancements in energy storage technologies. These advancements within the utility solar PV EPC augment the development of battery energy storage systems (BESS), facilitating consistent power supply and allowing for smoother integration of solar energy into the grid. The enhanced energy storage addresses grid reliability issues and mitigates the inconsistency linked with solar power. For example, Canadian Solar's e-STORAGE, a leading solar modules manufacturer from Canada, rolled out its optimized SolBank 3.0, a utility-scale energy storage system, in December 2023. Encased in a 20-ft container, SolBank 3.0 incorporates high energy density cells, advanced safety mechanisms, smart liquid cooling, and active balance system controls. Providing a power of up to 2.35 MW and a capacity of 5 MWh, it demonstrates a significant capacity increase of up to 45% at the product level and a reduction of up to 40% in balance of system costs.

Get the full report for exclusive industry analysis:
https://www.thebusinessresearchcompany.com/report/utility-solar-pv-epc-global-market-report

Which Geographic Regions Are Expected to Dominate the Utility Solar PV EPC Market in the Coming Years?
Asia-Pacific was the largest region in the utility solar PV EPC market in 2024. The regions covered in the utility solar PV EPC market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Utility Solar PV EPC Market?
2. What is the CAGR expected in the Utility Solar PV EPC Market?
3. What Are the Key Innovations Transforming the Utility Solar PV EPC Industry?
4. Which Region Is Leading the Utility Solar PV EPC Market?

Why This Report Matters:

Competitive overview: This report analyzes the competitive landscape of the 3D imaging software market, evaluating key players on market share, revenue, and growth factors.

Informed Decisions: Understand key strategies related to products, segmentation, and industry trends.

Efficient Research: Quickly identify market growth, leading players, and major segments.

Connect with us on:
LinkedIn: https://in.linkedin.com/company/the-business-research-company,
Twitter: https://twitter.com/tbrc_info,
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ.

Contact Us
Europe: +44 207 1930 708,
Asia: +91 88972 63534,
Americas: +1 315 623 0293 or
Email: mailto:info@tbrc.info

Learn More About The Business Research Company
With over 15,000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Our flagship product, the Global Market Model delivers comprehensive and updated forecasts to support informed decision-making.

This release was published on openPR.