According to research report titled, ‘Utility Solar PV EPC Market Size, By Capacity (≤10 MW, >10 MW to 50 MW, >50 MW to 200 MW, >200 MW), Industry Analysis Report, Regional Outlook, Application Potential, Covid-19 Impact Analysis, Competitive Market Share & Forecast, 2021 – 2030,’ available with MarketStudyReport, global utility solar PV EPC market is anticipated to amass notable gains during 2021-2030.
 

Escalating demand for solar power, growing environmental concerns, and rising emphasis on using clean energy at affordable rates are propelling the growth of global utility solar PV EPC market.
 

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It is worth noting here that several prominent experts have predicted that fossil fuels will be eliminated from the electricity sector by mid 2030s while renewable energy is slated to be the preferred source of power by 2050.
 

In addition, increasing government initiatives, declining cost of solar power, focus towards using renewable resources, and surging deployment of utility rate projects are aiding industry outlook. On the contrary, longer payback period and easy availability of other clean energy substitutes are likely to hamper the remuneration scope of the marketplace in the coming years.
 

By capacity, global utility solar PV EPC market is split into < 100 MW, > 10 MW to 50 MW, >50 MW to 200 MW, and >200 MW.
 

Regionally, North America, Europe, Middle East & Africa, Asia Pacific, and Latin America are the major benefactors to the industry expansion. Among these, Latin America market was worth USD 2 billion in 2020 and is projected to showcase lucrative growth trends during 2021-2030.
 

Meanwhile, Middle East & Africa market held a substantial share in 2020 and is poised to expand at a CAGR of 9% over 2021-2030.
 

Risen Energy Co. Ltd., Mahindra Susten Pvt. Ltd., Bharat Heavy Electricals Limited, STEAG GmbH, Bechtal Corporation, Akuo Energy SAS, Hanwha Q Cells GmbH, First Solar Inc., Canadian Solar Inc., Trina Solar Co. Ltd., KEC International Limited., Larsen & Toubro Ltd., Tata Power Solar Systems Limited, Swinerton Renewable Energy (SRE), RCR Tomlinson Ltd., STEAG Solar Energy Solutions GmbH, and Sterling & Wilson Solar Ltd. are the prominent companies operating in global utility solar PV EPC market.