About EPC for battery energy storage system
EPC project is a form of contracting arrangement used in the energy industry Epc contractors take full responsibility for the engineering, equipment procurement, construction, commissioning, testing, and turnover of a completed project to the owner having historically been favored by energy project owners and their project finance lenders, due largely to the benefits of having a single, creditworthy counterparty responsible for all delivery aspects of fully completed and properly performing project. EPC agreements have been utilized on Battery energy storage systems projects, largely to reduce equipment procurement costs to the owner. Increasing in both frequency and scale. Energy storage systems are establishing themselves as a viable option for deployment across the entire electricity infrastructure as grid-connected energy storage assets or in a combination with other grid assets such as hybrid generators. It is quickly becoming apparent the multifunctional operational capabilities of an energy storage system
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 20.3% |
Competition among existing players is due to the stiff market share occupied by leading players. The industry leader is engaged in offering innovative and superior quality products to cater to the ever-growing demand for Epc for battery energy storage systems. The companies are implementing strategic activities such as acquisitions and mergers along with collaboration with companies in other industries to aid them in improving sustenance and maintaining their competitive advantage Analyst at AMA Research estimates that United States Manufacturers will contribute the maximum growth to Global EPC for battery energy storage system market throughout the forecasted period. Established and emerging Manufacturers should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Burns & McDonnell (United States), Canadian Solar. (Canada), Nidec Industrial Solutions (Italy), Belectric (Germany), SOLV Energy (United States), Farella Braun + Martel LLP (United States), BSR Group Holdings Limited (United Kingdom), M. A. Mortenson Company (United States), Blue Ridge Power (United States), Black & Veatch Holding Company (United States), Baker-Electric (United States) and Bridgelink Engineering (United States) are some of the key players that are part of study coverage.
Segmentation Overview
AMA Research has segmented the market of Global EPC for battery energy storage system market by , Application (Residential, Non-Residential and Others) and Region.
On the basis of geography, the market of EPC for battery energy storage system has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Agreement Type, the sub-segment i.e. Construction & installation will boost the EPC for battery energy storage system market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Battery Type, the sub-segment i.e. Lithium-ion Battery will boost the EPC for battery energy storage system market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Increasing demand for electricity
Market Growth Drivers:
Rising investment toward developing facilities that use renewable sources of energy
Challenges:
EPC is the most time-consuming task during the engineering phase
Restraints:
High raw material and labor cost
Opportunities:
Increasing advancement in EPC Service
In November 2022, Canadian Solar Inc. announced to launch its Japan's flagship mega-project, the 100 MWp Azuma Kofuji solar project located in Fukushima prefecture.
Key Target Audience
EPC for battery energy storage system Manufacturers Suppliers and Distributors, Venture Capitalists and Private Equity Firms, New Entrants/Investors, Strategic Business Planners, Government Regulatory, Research Organizations and End-Use Industries
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.