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How big is the solar EPC market?

The global Solar EPC (Engineering, Procurement, and Construction) market has been experiencing rapid growth, driven by the increasing demand for renewable energy and solar installations. Here are some key points regarding the size and growth of the market:

  1. Global Market Size: The global Solar EPC market was valued at approximately USD 120 billion in 2023 and is projected to grow at a compound annual growth rate (CAGR) of around 7-9% from 2024 to 2030.

  2. Regional Insights:

    • Asia-Pacific: This region dominates the Solar EPC market, with countries like China, India, and Japan driving much of the demand due to large-scale solar power projects and government incentives.
    • North America: The U.S. solar EPC market is growing steadily, supported by federal and state-level incentives, including the Inflation Reduction Act.
    • Europe: Solar EPC growth is supported by the EU’s commitment to renewable energy, particularly in countries like Germany, Spain, and Italy.

  3. Market Segments:

    • Utility-scale Solar: This segment is the largest and fastest-growing, driven by large solar farms and government-driven energy transition policies.
    • Commercial and Residential: These segments are also expanding, particularly in markets where rooftop solar is becoming more popular.

The Solar EPC market is set to continue growing as governments and businesses push for cleaner energy sources. This makes it a promising area for companies involved in solar energy solutions. 



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