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Solar Engineering, Procurement, Construction Market | Report 2031

Global Solar Engineering, Procurement, and Construction Market

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Segments - by Product (Ground Mounted and Rooftop), Technology (Concentrated Solar Power and Photovoltaic), End-user (Commercial, Industrial, Residential, and Utility), and Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2023 - 2031.

CM-2729
4.1 Rating
217 Pages

15-11-2021
70 Reviews

Author :

Raksha Sharma

Fact-checked by :

Vineet Pandey

Editor :

Rucha Phatak

Report Description

Solar Engineering, Procurement, and Construction Market Outlook 2031:

The global solar engineering, procurement, and construction market size was valued at USD 156.30 Billion in 2022 and is projected to reach USD 419.70 Billion by 2031, expanding at a CAGR of 11.6% during the forecast period 2023 - 2031. Due to the growing environmental concerns, as well as strict legislative requirements to reduce GHG emissions. EPC is an acronym for engineering, procurement, and construction.

EPC is a term used in the solar industry to describe a service that includes everything from system design, component sourcing to project installation. It covers everything from coordination to government permissions to maintenance. Customer requirement analysis, site assessment, weather monitoring, structural design, calculation of power generation capability, equipment selection, engineering design, and 3D modelling of the proposed solar power plant are all included in the engineering design.

Global Solar Engineering, Procurement, and Construction Market Dynamics

Growing Focus On Renewable Energy Sources and Positive Clean Energy Outlook

Growing emphasis on renewable energy sources, as well as the positive clean energy outlook as a result of carbon dioxide (CO2) emissions from the combustion of fossil fuels and concern about reducing greenhouse gas emissions, are expected to drive the demand for solar engineering procurement and construction (EPC). Moreover, growing number of projects utilizing renewable energy sources is propelling the market. For example, in July 2020, a 750 MW solar plant was commissioned in Madhya Pradesh. The Rewa Ultra Mega Solar Power consists of three solar producing units, each having a capacity of 250 MW.

Rising Concerns for Fuel Demand

The global solar EPC market as gained significant momentum, owing to the ongoing discussion over environmental degradation. Significant growth in consumer environmental concerns, as well as the implementation of different rigorous rules to reduce greenhouse gas (GHG) emissions, drove organizations to implement effective energy saving techniques such as solar EPC. Significant changes and improvements, as well as increased cost-competitiveness, are expected to have a favorable impact on market dynamics in the future years.

Issues Related to Land Acquisition, Engineering, Supply Chain, Site Operations, and Liaising

Issues related to land acquisition, engineering, supply chain, site operations, and liaising are expected to hinder the global solar EPC market during the forecast period. Every project is unique and, to some extent, necessitates novel ideas and techniques, both on technical and operational fronts. Innovative engineering techniques and procedures help to speed up the project setup. In order to build a novel engineering system, EPC players require extensive geotechnical data, availability of solar resources, and ambient conditions. Appropriate completion as the project schedule is vastly overlapping while the implementation is driven by a lean team is a major challenge.

Growing Demand for Electricity

Global power consumption expanded significantly as a result of economic development and population growth. Rising living standards and infrastructural development are driving the demand for power generation. For example, China's power demand climbed by 4.5 percent in 2019 compared to 2018. In order to accommodate the rising demand, most nations are building new solar power facilities or expanding the capacity of existing ones.

This is expected to promote the expansion of the solar power sector, which is projected to create opportunities for players in the solar engineering procurement and construction market growth during the forecast period.

Increasing Investment in Solar Energy

Several corporations are installing renewable energy facilities as a result of environmental laws. Several countries are focusing on environment-friendly power generation options in order to minimize carbon emissions. Solar energy is one of the most affordable renewable energy sources. As a result, several governments are investing considerably in solar energy. For example, Asia Pacific deployed more than 67 GW of new solar projects in 2019. As a result, such a spectacular yearly installation of solar capacity benefits global industry growth. Increasing investment in solar energy is expected to create opportunities for the players in the solar EPC market.

Scope of Solar Engineering, Procurement, and Construction Market Report

The report on the global solar engineering, procurement, and construction market market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Attributes	Details
Report Title	Solar Engineering, Procurement, and Construction Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
Base Year	2022
Historic Data	2016–2021
Forecast Period	2023–2031
Segmentation	By Product (Ground Mounted and Rooftop), By Technology (Concentrated Solar Power and Photovoltaic), By End-user (Commercial, Industrial, Residential, and Utility)
Regional Scope	Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
Report Coverage	Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, Market Trends, and Revenue Forecast
Key Players Covered in the Report	Candian Solar; BELECTRIC Solar & Battery Holding GmbH; Becthel Corp.; Alsa Solar System LLC; Xylem; Adani Group; Abudant Solar Energy; Blattner Energy; ENERPARC AG; Enviromena; Sterling and Wilson Pvt.Ltd.; Q Cells; Juwi AG; Black and Veatch Holding Co; Renewable Energy System Ltd.; DEPCOM Power; First Solar; Greenspark Solar; STRATA SOLAR; Swinerton Renewable Energy (SOLV Energy); and Hild Energy Pvt. Ltd.

Solar Engineering, Procurement, and Construction Market Segment Insights

The global solar engineering, procurement, and construction market is segmented on the basis of product, technology, end-user, and regions.

In terms of product, the global solar engineering, procurement, and construction market is segmented into ground mounted and rooftop. The rooftop segment is anticipated to account for a substantial share of the market and expand at a significant CAGR due to the increasing installation of rooftop units throughout residential and commercial premises in the current industrial environment.

Based on technology, the global solar engineering, procurement, and construction market is bifurcated into concentrated solar power and photovoltaic. The photovoltaic segment held a considerable share of the market in 2020 and this trend is anticipated to persist during the forecast period owing to the ongoing reforms and expansion across the energy industry.

In terms of end-user, the global solar engineering, procurement, and construction market is segmented into commercial, industrial, residential, and utility. The residential segment held a considerable share of the market in 2020 and is projected to account for a substantial share of the market during the forecast period owing to the favorable regulatory environment, technical advancement, and several reforms such as feed-in tariff, subsidies, and incentives for grid-tied installations along with the continuous development and integration of effective operating technologies.

Solar Engineering, Procurement, and Construction Regional Outlook

Based on regions, the global solar engineering, procurement, and construction market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America held a significant share of the market in 2020 and is anticipated to expand at a substantial CAGR during the forecast period due to the increasing investment in renewable energy sources and favorable government policies in the region is expected to boost the regional market during the forecast period.

The Asia Pacific market is expected to expand significantly for solar engineering, procurement, and construction (EPC) during the forecast period. The region's demand is anticipated to be driven by some of the fastest-growing economies and the rising demand for energy and power engineering procurement and construction (epc) to meet the region's growing population and industries.

Key Benefits for Industry Participants & Stakeholders

In-depth Analysis of the global solar engineering, procurement, and construction market
Historical, Current and Projected Market Size in terms of Value and Volume
Potential & Niche Segments and Regions Exhibiting Promising Growth Covered
Industry Drivers, Restraints and Opportunities Covered in the Study
Recent Industry Trends and Developments
Competitive Landscape & Strategies of Key Players
Neutral Perspective on Global Solar Engineering, Procurement, and Construction Market Performance

Segments

By Product

Ground Mounted
Rooftop

By Technology

Concentrated Solar Power
Photovoltaic

By End-user

Commercial
Industrial
Residential
Utility

By Regions

North America
Europe
Asia Pacific
Latin America
Middle East & Africa

Key Players

Candian Solar
BELECTRIC Solar & Battery Holding GmbH
Becthel Corp.
Alsa Solar System LLC
Xylem
Adani Group
Abudant Solar Energy
Blattner Energy
ENERPARC AG
Enviromena
Sterling and Wilson Pvt.Ltd.
Q Cells
Juwi AG
Black and Veatch Holding Co
Renewable Energy System Ltd.
DEPCOM Power
First Solar
Greenspark Solar
STRATA SOLAR
Swinerton Renewable Energy (SOLV Energy)
Hild Energy Pvt. Ltd.

Competitive Landscape

Top players in the market include Candian Solar; BELECTRIC Solar & Battery Holding GmbH; Becthel Corp.; Alsa Solar System LLC; Xylem; Adani Group; Abudant Solar Energy; Blattner Energy; ENERPARC AG; Enviromena; Sterling and Wilson Pvt.Ltd.; Q Cells; Juwi AG; Black and Veatch Holding Co; Renewable Energy System Ltd.; DEPCOM Power; First Solar; Greenspark Solar; STRATA SOLAR; Swinerton Renewable Energy (SOLV Energy); and Hild Energy Pvt. Ltd.
These companies are considered as key EPC contractors’/ service providers of solar energy modules based on their revenue, product offerings, regional presence, and supply chain management system.
The players are adopting key strategies such as acquisition, collaborations, and geographical expansion where potential opportunity for the Solar Engineering, Procurement, and Construction market.

Table Of Content

Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Solar Engineering, Procurement, and Construction Market Overview
   4.1 Introduction
      4.1.1 Market Taxonomy
      4.1.2 Market Definition
      4.1.3 Macro-Economic Factors Impacting the Market Growth
   4.2 Solar Engineering, Procurement, and Construction Market Dynamics
      4.2.1 Market Drivers
      4.2.2 Market Restraints
      4.2.3 Market Opportunity
   4.3 Solar Engineering, Procurement, and Construction Market - Supply Chain Analysis
      4.3.1 List of Key Suppliers
      4.3.2 List of Key Distributors
      4.3.3 List of Key Consumers
   4.4 Key Forces Shaping the Solar Engineering, Procurement, and Construction Market
      4.4.1 Bargaining Power of Suppliers
      4.4.2 Bargaining Power of Buyers
      4.4.3 Threat of Substitution
      4.4.4 Threat of New Entrants
      4.4.5 Competitive Rivalry
   4.5 Global Solar Engineering, Procurement, and Construction Market Size & Forecast, 2018-2028
      4.5.1 Solar Engineering, Procurement, and Construction Market Size and Y-o-Y Growth
      4.5.2 Solar Engineering, Procurement, and Construction Market Absolute $ Opportunity
   4.6 Key Regulations: Global Solar Engineering, Procurement, and Construction Market
   4.6 Global Solar Power Market: Overview
Chapter 5 Global Solar Engineering, Procurement, and Construction Market Analysis and Forecast By Product
   5.1 Introduction
      5.1.1 Key Market Trends & Growth Opportunities By Product
      5.1.2 Basis Point Share (BPS) Analysis By Product
      5.1.3 Absolute $ Opportunity Assessment By Product
   5.2 Solar Engineering, Procurement, and Construction Market Size Forecast By Product
      5.2.1 Ground Mounted
      5.2.2 Rooftop
   5.3 Market Attractiveness Analysis By Product
Chapter 6 Global Solar Engineering, Procurement, and Construction Market Analysis and Forecast By Technology
   6.1 Introduction
      6.1.1 Key Market Trends & Growth Opportunities By Technology
      6.1.2 Basis Point Share (BPS) Analysis By Technology
      6.1.3 Absolute $ Opportunity Assessment By Technology
   6.2 Solar Engineering, Procurement, and Construction Market Size Forecast By Technology
      6.2.1 Concentrated Solar Power
      6.2.2 Photovoltaic
   6.3 Market Attractiveness Analysis By Technology
Chapter 7 Global Solar Engineering, Procurement, and Construction Market Analysis and Forecast By End-user
   7.1 Introduction
      7.1.1 Key Market Trends & Growth Opportunities By End-user
      7.1.2 Basis Point Share (BPS) Analysis By End-user
      7.1.3 Absolute $ Opportunity Assessment By End-user
   7.2 Solar Engineering, Procurement, and Construction Market Size Forecast By End-user
      7.2.1 Commercial
      7.2.2 Industrial
      7.2.3 Residential
      7.2.4 Utility
   7.3 Market Attractiveness Analysis By End-user
Chapter 8 Global Solar Engineering, Procurement, and Construction Market Analysis and Forecast by Region
   8.1 Introduction
      8.1.1 Key Market Trends & Growth Opportunities by Region
      8.1.2 Basis Point Share (BPS) Analysis by Region
      8.1.3 Absolute $ Opportunity Assessment by Region
   8.2 Solar Engineering, Procurement, and Construction Market Size Forecast by Region
      8.2.1 North America
      8.2.2 Europe
      8.2.3 Asia Pacific
      8.2.4 Latin America
      8.2.5 Middle East & Africa (MEA)
   8.3 Market Attractiveness Analysis by Region
Chapter 9 Coronavirus Disease (COVID-19) Impact
   9.1 Introduction
   9.2 Current & Future Impact Analysis
   9.3 Economic Impact Analysis
   9.4 Government Policies
   9.5 Investment Scenario
Chapter 10 North America Solar Engineering, Procurement, and Construction Analysis and Forecast
   10.1 Introduction
   10.2 North America Solar Engineering, Procurement, and Construction Market Size Forecast by Country
      10.2.1 U.S.
      10.2.2 Canada
   10.3 Basis Point Share (BPS) Analysis by Country
   10.4 Absolute $ Opportunity Assessment by Country
   10.5 Market Attractiveness Analysis by Country
   10.6 North America Solar Engineering, Procurement, and Construction Market Size Forecast By Product
      10.6.1 Ground Mounted
      10.6.2 Rooftop
   10.7 Basis Point Share (BPS) Analysis By Product
   10.8 Absolute $ Opportunity Assessment By Product
   10.9 Market Attractiveness Analysis By Product
   10.10 North America Solar Engineering, Procurement, and Construction Market Size Forecast By Technology
      10.10.1 Concentrated Solar Power
      10.10.2 Photovoltaic
   10.11 Basis Point Share (BPS) Analysis By Technology
   10.12 Absolute $ Opportunity Assessment By Technology
   10.13 Market Attractiveness Analysis By Technology
   10.14 North America Solar Engineering, Procurement, and Construction Market Size Forecast By End-user
      10.14.1 Commercial
      10.14.2 Industrial
      10.14.3 Residential
      10.14.4 Utility
   10.15 Basis Point Share (BPS) Analysis By End-user
   10.16 Absolute $ Opportunity Assessment By End-user
   10.17 Market Attractiveness Analysis By End-user
Chapter 11 Europe Solar Engineering, Procurement, and Construction Analysis and Forecast
11.1 Introduction
   11.2 Europe Solar Engineering, Procurement, and Construction Market Size Forecast by Country
      11.2.1 Germany
      11.2.2 France
      11.2.3 Italy
      11.2.4 U.K.
      11.2.5 Spain
      11.2.6 Russia
      11.2.7 Rest of Europe
   11.3 Basis Point Share (BPS) Analysis by Country
   11.4 Absolute $ Opportunity Assessment by Country
   11.5 Market Attractiveness Analysis by Country
   11.6 Europe Solar Engineering, Procurement, and Construction Market Size Forecast By Product
      11.6.1 Ground Mounted
      11.6.2 Rooftop
   11.7 Basis Point Share (BPS) Analysis By Product
   11.8 Absolute $ Opportunity Assessment By Product
   11.9 Market Attractiveness Analysis By Product
   11.10 Europe Solar Engineering, Procurement, and Construction Market Size Forecast By Technology
      11.10.1 Concentrated Solar Power
      11.10.2 Photovoltaic
   11.11 Basis Point Share (BPS) Analysis By Technology
   11.12 Absolute $ Opportunity Assessment By Technology
   11.13 Market Attractiveness Analysis By Technology
   11.14 Europe Solar Engineering, Procurement, and Construction Market Size Forecast By End-user
      11.14.1 Commercial
      11.14.2 Industrial
      11.14.3 Residential
      11.14.4 Utility
   11.15 Basis Point Share (BPS) Analysis By End-user
   11.16 Absolute $ Opportunity Assessment By End-user
   11.17 Market Attractiveness Analysis By End-user
Chapter 12 Asia Pacific Solar Engineering, Procurement, and Construction Analysis and Forecast
   12.1 Introduction
   12.2 Asia Pacific Solar Engineering, Procurement, and Construction Market Size Forecast by Country
      12.2.1 China
      12.2.2 Japan
      12.2.3 South Korea
      12.2.4 India
      12.2.5 Australia
      12.2.6 South East Asia (SEA)
      12.2.7 Rest of Asia Pacific (APAC)
   12.3 Basis Point Share (BPS) Analysis by Country
   12.4 Absolute $ Opportunity Assessment by Country
   12.5 Market Attractiveness Analysis by Country
   12.6 Asia Pacific Solar Engineering, Procurement, and Construction Market Size Forecast By Product
      12.6.1 Ground Mounted
      12.6.2 Rooftop
   12.7 Basis Point Share (BPS) Analysis By Product
   12.8 Absolute $ Opportunity Assessment By Product
   12.9 Market Attractiveness Analysis By Product
   12.10 Asia Pacific Solar Engineering, Procurement, and Construction Market Size Forecast By Technology
      12.10.1 Concentrated Solar Power
      12.10.2 Photovoltaic
   12.11 Basis Point Share (BPS) Analysis By Technology
   12.12 Absolute $ Opportunity Assessment By Technology
   12.13 Market Attractiveness Analysis By Technology
   12.14 Asia Pacific Solar Engineering, Procurement, and Construction Market Size Forecast By End-user
      12.14.1 Commercial
      12.14.2 Industrial
      12.14.3 Residential
      12.14.4 Utility
   12.15 Basis Point Share (BPS) Analysis By End-user
   12.16 Absolute $ Opportunity Assessment By End-user
   12.17 Market Attractiveness Analysis By End-user
Chapter 13 Latin America Solar Engineering, Procurement, and Construction Analysis and Forecast
   13.1 Introduction
   13.2 Latin America Solar Engineering, Procurement, and Construction Market Size Forecast by Country
      13.2.1 Brazil
      13.2.2 Mexico
      13.2.3 Rest of Latin America (LATAM)
   13.3 Basis Point Share (BPS) Analysis by Country
   13.4 Absolute $ Opportunity Assessment by Country
   13.5 Market Attractiveness Analysis by Country
   13.6 Latin America Solar Engineering, Procurement, and Construction Market Size Forecast By Product
      13.6.1 Ground Mounted
      13.6.2 Rooftop
   13.7 Basis Point Share (BPS) Analysis By Product
   13.8 Absolute $ Opportunity Assessment By Product
   13.9 Market Attractiveness Analysis By Product
   13.10 Latin America Solar Engineering, Procurement, and Construction Market Size Forecast By Technology
      13.10.1 Concentrated Solar Power
      13.10.2 Photovoltaic
   13.11 Basis Point Share (BPS) Analysis By Technology
   13.12 Absolute $ Opportunity Assessment By Technology
   13.13 Market Attractiveness Analysis By Technology
   13.14 Latin America Solar Engineering, Procurement, and Construction Market Size Forecast By End-user
      13.14.1 Commercial
      13.14.2 Industrial
      13.14.3 Residential
      13.14.4 Utility
   13.15 Basis Point Share (BPS) Analysis By End-user
   13.16 Absolute $ Opportunity Assessment By End-user
   13.17 Market Attractiveness Analysis By End-user
Chapter 14 Middle East & Africa (MEA) Solar Engineering, Procurement, and Construction Analysis and Forecast
   14.1 Introduction
   14.2 Middle East & Africa (MEA) Solar Engineering, Procurement, and Construction Market Size Forecast by Country
      14.2.1 Saudi Arabia
      14.2.2 South Africa
      14.2.3 UAE
      14.2.4 Rest of Middle East & Africa (MEA)
14.3 Basis Point Share (BPS) Analysis by Country
   14.4 Absolute $ Opportunity Assessment by Country
   14.5 Market Attractiveness Analysis by Country
   14.6 Middle East & Africa (MEA) Solar Engineering, Procurement, and Construction Market Size Forecast By Product
      14.6.1 Ground Mounted
      14.6.2 Rooftop
   14.7 Basis Point Share (BPS) Analysis By Product
   14.8 Absolute $ Opportunity Assessment By Product
   14.9 Market Attractiveness Analysis By Product
   14.10 Middle East & Africa (MEA) Solar Engineering, Procurement, and Construction Market Size Forecast By Technology
      14.10.1 Concentrated Solar Power
      14.10.2 Photovoltaic
   14.11 Basis Point Share (BPS) Analysis By Technology
   14.12 Absolute $ Opportunity Assessment By Technology
   14.13 Market Attractiveness Analysis By Technology
   14.14 Middle East & Africa (MEA) Solar Engineering, Procurement, and Construction Market Size Forecast By End-user
      14.14.1 Commercial
      14.14.2 Industrial
      14.14.3 Residential
      14.14.4 Utility
   14.15 Basis Point Share (BPS) Analysis By End-user
   14.16 Absolute $ Opportunity Assessment By End-user
   14.17 Market Attractiveness Analysis By End-user
Chapter 15 Competition Landscape
   15.1 Solar Engineering, Procurement, and Construction Market: Competitive Dashboard
   15.2 Global Solar Engineering, Procurement, and Construction Market: Market Share Analysis, 2020
   15.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
      15.3.1 Candian Solar
      15.3.2 BELECTRIC Solar & Battery Holding GmbH
      15.3.3 Becthel Corp.
      15.3.4 Alsa Solar System LLC
      15.3.5 Xylem
      15.3.6 Adani Group
      15.3.7 Abudant Solar Energy
      15.3.8 Blattner Energy
      15.3.9 ENERPARC AG
      15.3.10 Enviromena
      15.3.11 Sterling and Wilson Pvt.Ltd.
      15.3.12 Q Cells
      15.3.13 Juwi AG
      15.3.14 Black and Veatch Holding Company
      15.3.15 Renewable Energy System Ltd.
      15.3.16 DEPCOM Power
      15.3.17 First Solar
      15.3.18 Greenspark Solar
      15.3.19 STRATA SOLAR
      15.3.20 Swinerton Renewable Energy (SOLV Energy)
      15.3.21 Hild Energy Pvt. Ltd

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FAQ Section

Some frequently asked questions about this report!

1. Who are the major players operating in the market?

Major companies include Candian Solar; BELECTRIC Solar & Battery Holding GmbH; Becthel Corp.; Alsa Solar System LLC; Xylem; Adani Group; Abudant Solar Energy; Blattner Energy; ENERPARC AG; and others.

2. Which macroeconomic factors affect the market?

Factors such as growth of rising concerns regarding environment expected to act as a driving force for the market and rising concern related to meet fuel demand are analyzed in the final report.

3. Which is the base year calculated in the global solar engineering, procurement, and construction market report and what is analysis period?

The base year considered for the global solar engineering, procurement, and construction market report is 2020. The complete analysis period is 2018 to 2028, wherein, 2018, and 2019 are the historic years, and the forecast is provided from 2021 to 2028.

4. What is the impact of COVID-19 on the overall market during year 2019 -2020?

The market is expected to witness a significant decrease in growth between 2019 and 2020 owing to the COVID 19 pandemic on the solar engineering, procurement, and construction market.

5. What is the criteria used for selecting company profile?

Factors such as competitive strength and market positioning are key areas considered while selecting top companies to be profiled.

6. What are the major applications of Solar Engineering, Procurement, and Construction driving the market growth?

The major applications of Solar Engineering, Procurement, and Construction are commercial, residential, industrial, and utility.

7. What are the factors driving the growth of Solar Engineering, Procurement, and Construction market?

Growing focus on renewable energy sources and positive clean energy outlook and rising concerns for environment fuel or fossil fuel is estimated to boost the market expansion in the coming years.

8. What additional data analysis is available in report?

In addition to market size (in US$ Million), Company Market Share (in % for base year 2019), and quality parameter overview is provided.

9. How big will be the solar engineering, procurement, and construction market in 2027?

According to this Growth Market Reports report, the Solar Engineering, Procurement, and Construction market is likely to register a CAGR of 11.6% during forecast period 2020-2027, with an anticipated valuation of USD 300,000 Mn by the end of the 2028.