Potential Impact of COVID-19 on Solar EPC Market

Posted by anna on January 5th, 2021

Global Solar EPC Market: Introduction

The global solar EPC market has been displaying a robust growth rate over the last few years. The increasing number of favorable regulatory reforms and the rise in support by various governments, in terms of initiatives and funding, has reflected positively on this market. Renewable integration targets, investment subsidies, and self-consumption scheme have strengthened the business landscape of this market significantly. The swift growth in economy, especially across emerging nations, and the rise in the demand for energy has further driven the demand for solar EPC across the world.

In this research report, the global solar EPC market has been thoroughly evaluated, using quantitative and qualitative assessment techniques. It has estimated the market’s performance over the period from 2018 to 2026 on the basis of the key trends and market dynamics. It also offers precise evaluations of the main segments and each of the regional markets for solar EPC across the world.

Global Solar EPC Market: Notable Developments

  • The United Nations (UN) recently introduced a global initiative Mission 2020, which aims at bringing new urgency to the worldwide climate conversation through stressing on significant reduction in GHG emission level by the end of 2020.

Some of the key players in the global solar EPC market are Canadian Solar, Trina, First Solar, Enviromena, SunPower, ALSA, Conergy, Akuo Energy, TBEA, Belectric, Yingli Green Energy, Topsun, Eiffage, and Swinerton. Technological innovations and advancements are among the top business strategies of these players. They are focusing more on introducing new products with advanced technologies in a bid to remain in the competition. Over the coming years, they are likely to consider regional expansion to strengthen their reach across the world.

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Global Solar EPC Market Dynamics

Increasing Concerns over Environment Fuel Demand

Thanks to the ongoing debate on environment deterioration, the global solar EPC market has gained significant momentum. The substantial increase in environmental concerns among consumers and the enforcement of various stringent regulations to curb greenhouse gases (GHG) emissions have prompted organizations to adopt efficient energy conservation measures. Solar EPC is one of them and an important one among them. Over the coming years, considerable variations and upgrades, together with the rising cost-competitiveness is expected to influence the market dynamics positively.

North America to Retain Leadership

Regionally, North America has been leading the global solar EPC market, with the U.S. emerging as the world leader. The scenario is likely to remain so over the next few years. The increasing number of initiatives, directed towards reducing the reliance on fossil fuel, together with a positive financial mechanism that promote installation of sustainable energy technologies, is expected to boost the demand for solar EPC in North America over the next few years.

The solar EPC market in Europe is also demonstrating a considerably high growth rate and is expected to continue doing so in the near future. Favourable policies by the government towards the uptake of sustainable technologies is supporting the growth of this regional market. Among others, Asia Pacific is projected to witness a decent growth in its solar EPC market over the forthcoming years.


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