Power Plant EPC Market: Introduction

  • Growing population and urbanization have augmented the demand for power. Also, rise in industrial development all over the globe has boosted the demand for power. As a result, the global power plant engineering, procurement, and construction (EPC) market is witnessing high investments
  • The engineering, procurement and construction contractors carry out detailed design and layout of a project right from manufacture of systems and functional testing to procurement of materials and equipment. Then, they deliver a functioning asset or facility to their clients.
  • Investments in the power generation sector in various countries are increasing to fulfill the energy demand in these countries. This, in turn, is anticipated to boost the global power plant EPC market during the forecast period.
  • EPC contractors largely focus on comprehensive engineering from manufacture of key power equipment, such as boilers, turbines, and generators, to engineering, construction, and commissioning activities

Are you a start-up willing to make it big in the business? Grab an exclusive PDF sample of this report

Key Drivers of Global Power Plant EPC Market

  • Demand for power plant EPC is increasing across the globe, due to rise in the demand for power worldwide. Growth in urbanization and industrialization worldwide has augmented the demand for electricity generation, which is anticipated to boost the global power plant EPC market during the forecast period.
  • Moreover, advancements in gas turbines, renewable energy, and digital solutions are anticipated to boost investments in the global power generation industry. This, in turn, is likely to propel the global power plant EPC market during the forecast period.

Key Developments

  • On December 23, 2019, Doosan Heavy Industries & Construction (DHIC) signed an agreement to supply gas turbines to Korea Western Power Co. The new power plant would be located in the Gimpo city of the Gyeonggi province. The construction is scheduled to commence by 2020 and it would be completed by 2022. The company plans to carry out a demonstration project on a large gas turbine for power plants, which the company has developed in-house. DHIC has planned to ship gas turbines and install them at the Gimpo CHP plant by 2021 and it would implement a two-year demonstration project once the construction is over.

Asia Pacific to Hold a Major Share of Global Power Plant EPC Market

  • Based on region, the global power plant EPC market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
  • Asia Pacific is anticipated to dominate the global power plant EPC market from 2019 to 2027, owing to growth in industrialization and automation in the region. The trend is projected to continue during the forecast period, especially in countries such as China, India, Japan, and South Korea.
  • China is witnessing high investments in renewable power plants, followed by India and Japan.
  • Middle East & Africa and Latin America are anticipated to be attractive regions of the global power plant EPC market during the forecast period. The market in these regions is expanding at a significant pace.
  • Saudi Arabia has announced a plan to build the world’s largest solar power project worth US$ 200 Bn, which would end the country’s dependence on oil. This solar power plant would supply enough electricity not only to Saudi Arabia but much of the Middle East.
  • The market in North America and Europe is estimated to expand at a sluggish pace during the forecast period. The market in North America and Europe is mature and hence, it is likely to witness low investments in the near future.

Expanding operations in future? To get the perfect launch ask for a custom report

Key Players Operating in Global Market:

Top companies operating in the global power plant EPC market are:

  • Doosan Heavy Industries & Construction
  • TATA Projects
  • Thermax Global
  • Worley Parsons
  • SK Engineering & Construction

Global Power Plant EPC Market: Research Scope

Global Power Plant EPC Market, by Type

  • Thermal Power Source
  • Combined-cycle Power Source
  • Gas-based
  • Nuclear Power Source
  • Renewable
    • Hydro
    • Solar
    • Wind
  • Others

Global Power Plant EPC Market, by Equipment

  • Gas Turbines
  • Steam Turbines
  • Boilers
  • Generators
  • Control Systems
  • Others

Global Power Plant EPC Market, by Region

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • U.K.
    • France
    • Italy
    • Spain
    • Russia & CIS
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Australia
    • ASEAN
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Venezuela
    • Rest of Latin America
  • Middle East & Africa
    • Saudi Arabia
    • UAE
    • Qatar
    • Nigeria
    • Rest of Middle East & Africa

The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.

The study is a source of reliable data on:

  • Market segments and sub-segments
  • Market trends and dynamics
  • Supply and demand
  • Market size
  • Current trends/opportunities/challenges
  • Competitive landscape
  • Technological breakthroughs
  • Value chain and stakeholder analysis

The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.

A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.

Highlights of the report:

  • A complete backdrop analysis, which includes an assessment of the parent market
  • Important changes in market dynamics
  • Market segmentation up to the second or third level
  • Historical, current, and projected size of the market from the standpoint of both value and volume
  • Reporting and evaluation of recent industry developments
  • Market shares and strategies of key players
  • Emerging niche segments and regional markets
  • An objective assessment of the trajectory of the market
  • Recommendations to companies for strengthening their foothold in the market

Note:Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

Custom Market Research Services

TMR offers custom market research services that help clients to get information on their business scenario required where syndicated solutions are not enough.


Power Plant Epc Market

Pre Book