Solar EPC sector continues to fragment - IHS Markit

Facebook
Twitter
LinkedIn
Reddit
Email
The market research firm noted that the three leading EPC firms in 2018, Sterling and Wilson, TBEA Xinjiang Sunoasis and Sungrow Power Supply Co had global market shares of 2.9%, 1.6% and 1.3%, respectively. Image: NextEra

According to the latest ‘Solar EPC and O&M Provider Tracker’ report from IHS Markit, the EPC sector has yet to experience any effective market leaders or consolidation. 

IHS Markit noted that the largest 30 EPC companies installed 19GW of non-residential PV in 2018, which accounted for just 21% of the total global market, down from 23% in 2017, highlighting the ongoing fragmentation of the sector. 

This article requires Premium SubscriptionBasic (FREE) Subscription

Unlock unlimited access for 12 whole months of distinctive global analysis

Photovoltaics International is now included.

  • Regular insight and analysis of the industry’s biggest developments
  • In-depth interviews with the industry’s leading figures
  • Unlimited digital access to the PV Tech Power journal catalogue
  • Unlimited digital access to the Photovoltaics International journal catalogue
  • Access to more than 1,000 technical papers
  • Discounts on Solar Media’s portfolio of events, in-person and virtual

Or continue reading this article for free

The market research firm noted that the three leading EPC firms in 2018, Sterling and Wilson, TBEA Xinjiang Sunoasis and Sungrow Power Supply Co had global market shares of 2.9%, 1.6% and 1.3%, respectively.

The big change was India-based Sterling and Wilson overtaking long-term market leader, TBEA, installing 2.7GW of PV systems in 2018, up 127% from the previous year. 

Josefin Berg, research & analysis manager, Solar & Energy Storage, at IHS Markit  said, “Sterling and Wilson’s rising market share come partly as the result of the company’s continued leadership in India’s expanding photovoltaic (PV) market. EPC solar installations in the country rose by 39 percent last year. However, Sterling and Wilson also benefitted from large overseas projects, most notably the 1.2-gigawatt (GW) Sweihan project in Abu Dhabi—which will be the world’s largest solar plant when operating.”

IHS Markit also noted that the non-residential PV market outside of China increased 34% in 2018, driven by growth in India, Australia, Europe, the Middle East and Latin America, expanding the global footprint for the EPC and O&M business. 

As a result, seven of the 15 largest companies outside of China—including Sterling and Wilson, ACS, Acciona and BayWa—installed projects in more than one geographical region.

Read Next

August 4, 2025
Indian solar PV module manufacturer Vikram Solar will supply 250MW of n-type modules to Bondada Group for its solar project in Maharashtra.
August 4, 2025
Waaree Energies has commissioned a 1.8GW solar module manufacturing line at its factory in Chikhli, Navsari district, Gujarat.
August 4, 2025
Spanish energy utility giant Iberdrola has sold its Mexican power business for US$4.2 billion, as part of its shift to focus on US and UK electricity transmission networks.
August 4, 2025
Australia’s Productivity Commission said the country should phase out subsidies for renewables and replace them with market-based incentives.
August 1, 2025
DSD Renewables has raised US$238 million to bolster its portfolio of solar projects in 12 US states plus the District of Colombia.
August 1, 2025
The Q3 edition of our downstream solar PV journal, PV Tech Power, is now available to download.

Subscribe to Newsletter

Upcoming Events

Media Partners, Solar Media Events
September 2, 2025
Mexico City, Mexico
Solar Media Events
September 16, 2025
Athens, Greece
Solar Media Events
September 30, 2025
Seattle, USA
Solar Media Events
October 1, 2025
London, UK
Solar Media Events
October 2, 2025
London,UK