Skip to content

IHS Markit: Global EPC market grew 34% last year


From pv magazine global

Taking China out of the equation, the ‘rest of the world’ market for the provision of engineering, procurement and construction (EPC) services for non-residential solar expanded 34% last year, according to IHS Markit’s Solar EPC and O&M Provider Tracker.

The latest edition of the tracker noted increasing market fragmentation, with the 30 largest EPC companies installing a combined 19 GW of solar generation capacity, a figure which represented just 21% of the market, down slightly from the 23% share held by the top 30 EPCs in 2017. Indian business Sterling & Wilson was named market leader having more than doubled its 2017 PV installations figure, from 1.2 GW of capacity to 2.7 GW last year.

“Sterling and Wilson’s rising market share comes partly as the result of the company’s continued leadership in India’s expanding photovoltaic market,” said Josefin Berg, research and analysis manager for solar and energy storage at IHS Markit. “EPC solar installations in the country rose by 39% last year. However, Sterling and Wilson also benefited from large overseas projects, most notably the 1.2 gigawatt Sweihan project in Abu Dhabi.”

Internationalization emerged as a broader trend among the market leading EPCs, with seven of the top 15 companies working on projects in more than one region. AustraliaEurope, the Middle East and Latin America were named by IHS as key growth markets alongside India.

Growth outside the world’s biggest solar marketplace enabled the leading Chinese EPCs to weather the storm caused by Beijing’s 31/5 policy decision to reduce public subsidies for PV. Though it surrendered the top spot it had held since 2015 to Sterling & Wilson, TBEA Xinjiang Sunoasis remained the market leader in China and registered only a slight decline in its market share, from 1.8% in 2017 to 1.6% last year.

Inverter maker Sungrow rose to second place in China and third globally with a 1.3% market share.

This content is protected by copyright and may not be reused. If you want to cooperate with us and would like to reuse some of our content, please contact:



Related content

Elsewhere on pv magazine...

Leave a Reply

Please be mindful of our community standards.

Your email address will not be published. Required fields are marked *

By submitting this form you agree to pv magazine using your data for the purposes of publishing your comment.

Your personal data will only be disclosed or otherwise transmitted to third parties for the purposes of spam filtering or if this is necessary for technical maintenance of the website. Any other transfer to third parties will not take place unless this is justified on the basis of applicable data protection regulations or if pv magazine is legally obliged to do so.

You may revoke this consent at any time with effect for the future, in which case your personal data will be deleted immediately. Otherwise, your data will be deleted if pv magazine has processed your request or the purpose of data storage is fulfilled.

Further information on data privacy can be found in our Data Protection Policy.

This website uses cookies to anonymously count visitor numbers. To find out more, please see our Data Protection Policy.

The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this.