Global Power Engineering, Procurement, and Construction (EPC) Market Size study & Forecast, by Power Generation (Thermal, Hydroelectric, Nuclear, Renewables) and Regional Analysis, 2022-2029

Global Power Engineering, Procurement, and Construction (EPC) Market Size study & Forecast, by Power Generation (Thermal, Hydroelectric, Nuclear, Renewables) and Regional Analysis, 2022-2029

Global Power Engineering, Procurementa, and Construction (EPC) Market is valued approximately USD XXX billion in 2021 and is anticipated to grow with a healthy growth rate of more than XXX% over the forecast period 2022-2029. Power Engineering, procurement, and construction (EPC) contracts are a type of agreement employed by the private sector to carry out construction projects on significant and intricate infrastructure investments. The Power Engineering, Procurement, and Construction (EPC) market is expanding because of factors such as increasing electricity generation and increased government spending. For instance: according to Energy Information Administration, the electricity generation went from 0.2%, in the year 1990 to 12%, in the year 2021. Additionally, rising demand for the renewable energy is expected to boost the growth of the Power Engineering, Procurement, and Construction (EPC) Market. The global market for renewable energy is expected to expand to 50% by 2050, according to the International Renewable Energy Agency (IRENA), hitting 30% by 2030. Up to 36% more renewable power is anticipated to be part of the global energy mix as a result of greater energy efficiency and improved energy productivity. The IEA predicts that by 2050, solar PV, wind, and biofuels will generate about 80% of the electricity in the world. However, Supply chain disruptions in the market may halt market growth.

The key regions considered for the Global Power Engineering, Procurement, and Construction (EPC) Market study includes Asia Pacific, North America, Europe, Latin America, and Rest of the World. Asia-Pacific dominated the space in terms of revenue, owing to rapid urbanization Europe is expected to grow significantly during the forecast period, owing to rising investments in the renewable energy

Major market player included in this report are:
Mitsubishi Heavy Industries Ltd
Fluor Ltd
John Wood PLC
Kiewit Corporation
McDermott International Inc.
Bechtel Corporation
Saipem SpA
Larsen & Toubro Limited
KBR Inc
Tata Power Solar Systems

Recent Developments in the Market:
 In June 2022, Tata Power Solar Systems started an engineering, procurement, and construction (EPC) project for Radiant Energy that is 66 megawatts (MW) in size. As a consequence of this project, annual energy production will be 110,029 units, and carbon emissions will be reduced by up to 9 lakh tons.
 In May 2022, Aluminum Bahrain BSC (Alba) and Mitsubishi Heavy Industries Ltd (MHI) inked a contract in May 2022 to expand Power Station 5 at Alba by constructing a brand-new 680.9 megawatts (MW) Combined Cycle Gas Turbine Power Block.

Global Power Engineering, Procurement, and Construction (EPC) Market Report Scope:
Historical Data 2019-2020-2021
Base Year for Estimation 2021
Forecast period 2022-2029
Report Coverage Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered Power Generation and Region
Regional Scope North America; Europe; Asia Pacific; Latin America; Rest of the World

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.

The detailed segments and sub-segment of the market are explained below:
By Power Generation:
Thermal
Hydroelectric
Nuclear
Renewables

By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World


Companies Mentioned

Mitsubishi Heavy Industries Ltd
Fluor Ltd
John Wood PLC
Kiewit Corporation
McDermott International Inc.
Bechtel Corporation
Saipem SpA
Larsen & Toubro Limited
KBR Inc
Tata Power Solar Systems

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