Ground Mounted Solar EPC Market Size & Share 2024 to 2032
Market Size by Capacity (1 to 3 MW, 3 to 10 MW, 10 to 50 MW, > 50 MW), by End Use (Commercial & Industrial, Utility), Regional Outlook & Forecast.
Report ID: GMI9446
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Published Date: May 2024
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Report Format: PDF
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Authors:
Ankit Gupta, Srishti Agarwal
Ground Mounted Solar EPC Market Size
Ground Mounted Solar EPC Market was valued USD 105.6 billion in 2023 and is anticipated to grow at a CAGR of over 4.2% between 2024 and 2032. These refer to large-scale solar energy projects that are installed on the ground, as opposed to rooftops or other elevated structures. EPC systems are turnkey solutions where a single contractor or consortium is responsible for the design, procurement, construction, and commissioning of the solar photovoltaic (PV) system.
Ground Mounted Solar EPC Market Key Takeaways
Market Size & Growth
Key Market Drivers
Challenges
Reducing cost of solar photovoltaic (PV) technology driven by technological advancements, economies of scale, and improvements in manufacturing processes will augment the industry landscape. Ongoing implementation of supportive policies and incentives comprising feed-in tariffs, tax credits, renewable energy targets, and net metering schemes, to promote the adoption of solar energy will strengthen the product demand. Additionally, growing concerns about climate change and air pollution will support the transition towards renewable energy sources, thereby augmenting the product penetration.
Advances in solar PV technology, including improvements in efficiency, durability, and reliability, have made ground-mounted solar EPC systems more attractive and viable, which will strengthen the product demand. Additionally, innovations in tracking systems, inverters, and balance-of-system components have further enhanced the performance and cost-effectiveness of these systems, thereby driving the business scenario.
Ground Mounted Solar EPC Market Trends
Shifting focus of many corporations and institutions to sourcing a significant portion of their energy needs from renewable sources as part of their sustainability strategies will contribute to the business momentum. The systems offer a reliable and cost effective way for companies to procure renewable energy and reduce their carbon footprint, thereby strengthening the product penetration.
Ground Mounted Solar EPC Market Analysis
Based on Capacity, the 10 – 50 MW segment is projected to surpass USD 45.1 billion by 2032 owing to economies of scale, allowing for efficient deployment and lower costs per unit of installed capacity compared to smaller installations. They offer a viable option for corporate renewable energy procurement, providing a stable and cost effective source of clean electricity which will augment the industry landscape. Also, the systems typically require larger land parcels compared to rooftop installations. Across many regions, there is ample available land, including brownfields, degraded land, and agricultural land, suitable for hosting utility-scale solar projects.
Based on end use, the utility segment is set to grow at a CAGR of over 4% through 2032. Ability to integrate into the existing electrical grid infrastructure, providing a reliable source of renewable energy to meet growing electricity demand will strengthen the product adoption. These projects often require grid interconnection agreements and infrastructure upgrades to ensure smooth integration and reliable operation. Furthermore, many regions offer supportive policies and incentives for utility scale solar projects, including feed in tariffs, renewable energy certificates, tax credits, and competitive procurement programs, encouraging investment in larger solar installations, thereby driving the market growth.
Asia Pacific ground mounted solar EPC market is projected to surpass USD 50.5 billion by 2032. Availability of abundant solar resources across major economies of the region including China, India, Australia among others coupled with rapid growth and urbanization will contribute to the product demand. Growing adoption across Corporations, industries, and institutions, leading to large scale investments in solar energy to reduce energy costs, enhance energy security, will lead to a positive business outlook. Furthermore, advances in solar PV technology, including improvements in module efficiency, tracking systems, inverters, and balance-of-system components, are some additional factors driving the industry scenario.
The U.S. has seen significant growth in utility scale solar projects, including ground mounted solar farms and solar parks. These projects contribute to increasing the share of renewable energy in the nation's electricity generation portfolio. Further, net metering policies allow solar energy system owners to receive credits for excess electricity generated and exported to the grid. Many states have implemented Renewable Portfolio Standards (RPS), which mandate utilities to generate a certain percentage of their electricity from renewable sources, including solar energy, thereby driving the industry scenario.
Ground Mounted Solar EPC Market Share
Key players are also prioritizing customer satisfaction and engagement by offering personalized solutions, responsive customer support, and value-added services. Cultivating strong relationships with customers, the companies aim at building brand loyalty and fostering long term growth. Eminent players are investing in research and development to innovate and enhance their offerings by improving efficiency, reliability, and performance metrics, as well as integrating advanced features aiming to differentiate their products and maintain a competitive edge in the market.
Ground Mounted Solar EPC Market Companies
Eminent players operating in the ground mounted solar EPC industry are:
Ground Mounted Solar EPC Industry News
This ground mounted solar EPC market research report includes an in-depth coverage of the industry with estimates & forecast in terms of volume and revenue in (USD Million & MW) from 2021 to 2032, for the following segments:
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Market, By Capacity
Market, By Application
The above information has been provided for the following regions and countries:
Research methodology, data sources & validation process
This report draws on a structured research process built around direct industry conversations, proprietary modelling, and rigorous cross-validation and not just desk research.
Our 6-step research process
1. Research design & analyst oversight
At GMI, our research methodology is built on a foundation of human expertise, rigorous validation, and complete transparency. Every insight, trend analysis, and forecast in our reports is developed by experienced analysts who understand the nuances of your market.
Our approach integrates extensive primary research through direct engagement with industry participants and experts, complemented by comprehensive secondary research from verified global sources. We apply quantified impact analysis to deliver dependable forecasts, while maintaining complete traceability from original data sources to final insights.
2. Primary research
Primary research forms the backbone of our methodology, contributing nearly 80% to overall insights. It involves direct engagement with industry participants to ensure accuracy and depth in analysis. Our structured interview program covers regional and global markets, with inputs from C-suite executives, directors, and subject matter experts. These interactions provide strategic, operational, and technical perspectives, enabling well-rounded insights and reliable market forecasts.
3. Data mining & market analysis
Data mining is a key part of our research process, contributing nearly 20% to the overall methodology. It involves analysing market structure, identifying industry trends, and assessing macroeconomic factors through revenue share analysis of major players. Relevant data is collected from both paid and unpaid sources to build a reliable database. This information is then integrated to support primary research and market sizing, with validation from key stakeholders such as distributors, manufacturers, and associations.
4. Market sizing
Our market sizing is built on a bottom-up approach, starting with company revenue data gathered directly through primary interviews, alongside production volume figures from manufacturers and installation or deployment statistics. These inputs are then pieced together across regional markets to arrive at a global estimate that stays grounded in actual industry activity.
5. Forecast model & key assumptions
Every forecast includes explicit documentation of:
✓ Key growth drivers and their assumed impact
✓ Restraining factors and mitigation scenarios
✓ Regulatory assumptions and policy change risk
✓ Technology adoption curve parameter
✓ Macroeconomic assumptions (GDP growth, inflation, currency)
✓ Competitive dynamics and market entry/exit expectations
6. Validation & quality assurance
The final stages involve human validation, where domain experts manually review filtered data to identify nuances and contextual errors that automated systems might miss. This expert review adds a critical layer of quality assurance, ensuring data aligns with research objectives and domain-specific standards.
Our triple-layer validation process ensures maximum data reliability:
✓ Statistical Validation
✓ Expert Validation
✓ Market Reality Check
Trust & credibility
Verified data sources
Trade publications
Security & defense sector journals and trade press
Industry databases
Proprietary and third-party market databases
Regulatory filings
Government procurement records and policy documents
Academic research
University studies and specialist institution reports
Company reports
Annual reports, investor presentations, and filings
Expert interviews
C-suite, procurement leads, and technical specialists
GMI archive
13,000+ published studies across 30+ industry verticals
Trade data
Import/export volumes, HS codes, and customs records
Parameters studied & evaluated
Every data point in this report is validated through primary interviews, true bottom-up modelling, and rigorous cross-checks. Read about our research process →