About Nigeria Solar EPC
Solar EPC is a comprehensive service model utilized in the development of solar power projects. It refers to the role where a single contractor, typically an EPC Construction) company, acquires the entire project lifecycle of solar system development—from design to installation and commissioning. The Engineering phase deals with designing a solar system on-site and considering energy requirements, ensuring compliance with all technical specifications and regulatory standards. Procurement involves identifying the required equipment, such as the solar panels, inverters, batteries, and other parts, to ensure high-quality equipment for installation. Construction simply means physically putting the solar power system in place, including the preparatory steps on-site, mounting of solar panels, connecting the electrical circuits, and commissioning the system to optimize its performance. Services are used across different sectors for the development and execution of solar energy projects, from residential installations to large-scale commercial and industrial systems. The main application of Solar EPC is to make the entire process of designing, procuring materials, and constructing solar energy systems more efficient, safe, and locally compliant. Solar EPC services are highly helpful in large solar farms because technical expertise, high-quality materials, and accurate resource coordination are required to ensure the success of large-scale solar projects. The growing emphasis on reducing carbon footprints and transitioning to clean energy sources has led to a surge in demand for solar energy may be these factor accelerated the market growth.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. Analyst at AMA Research estimates that nigeria Manufacturers will contribute the maximum growth to Nigeria Nigeria Solar EPC 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.
Sinohydro (China), JuNeng NigLtd (Nigeria), Alten Renewable Energies (France), Gentec Engineering (Africa), Siemens Gamesa Renewable Energy (Spain), Sterling and Wilson Pvt. Ltd. (Nigeria), Trinasolar (China), Enel Spa (Italy), Energo Nigeria (Nigeria), Sahel Capital (Nigeria), DAYSTAR (United States), Green Energy (Nigeria), Lumos (Netherlands), Solar Force Nigeria (Nigeria) and Sun Power Systems (United States) are some of the key players that are part of study coverage.
Segmentation Overview
AMA Research has segmented the market of Nigeria Nigeria Solar EPC market by , Application (Residential Solar EPC, Commercial Solar EPC, Industrial, Remote and Off-Grid Applications and Others) and Region.
On the basis of geography, the market of Nigeria Solar EPC has been segmented into
. If we see Market by Type, the sub-segment i.e. Rooftop will boost the Nigeria Solar EPC market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Technology, the sub-segment i.e. Photovoltaics (PV) will boost the Nigeria Solar EPC market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Integration of solar energy into off-grid and mini-grid systems, Development of solar-hybrid systems for stable power supply and Adoption of innovative technologies to enhance system efficiency and cost-effectiveness
Market Growth Drivers:
Rising demand for renewable energy sources and Environmental concerns and sustainability initiatives
Challenges:
Limited access to financing for solar projects and Fluctuating government policies and regulatory uncertainties
Restraints:
Lack of skilled labour and technical expertise and Competition from other renewable energy sources and conventional power generation
Opportunities:
Developing large-scale solar power plants to feed electricity into the national grid.
Market Leaders and their expansionary development strategies
In September 2024, AMS Renewable Energy, a distributed solar and storage EPC acquired of Collective Solar, a prominent distributed generation solar construction firm. This acquisition marks a significant milestone for AMS Renewable Energy as it continues to expand and address a rapidly growing pipeline of EPC work across the northeast and mid-Atlantic markets.
In February 2023, GE Gas Power, an American energy company, revealed plans to invest in power assets that will add nearly 500 megawatts (MW) to Nigeria's national electricity grid by the second quarter of 2023.
Key Target Audience
Corporate Executives and Entrepreneurs, Research Organizations, Industry Professionals and Business Leaders, Marketing and Advertising Agencies and Others
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.