Australia Power Epc Market- Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)
The Australian power EPC market is expected to witness a CAGR of around 6.56% during the forecast period of 2022-2027. The country was hit hard by the COVID-19 outbreak. Power EPC contractors in Australia faced disruption in the procurement of necessary equipment for projects like Neoen solar projects currently in the development phase due to the lockdown, which affected the scheduled commercial operations of the projects. Factors like favorable government schemes for small-scale solar power generation and upcoming large-scale solar power projects are expected to drive the market. Despite the presence of driving factors, the increasing share of alternative clean energy sources, hydro and wind power, and an expected delay in large-scale solar power projects are expected to restrain the growth of the market.
Key HighlightsThe Australian power EPC market is moderately consolidated. Some of the major companies include Origin Energy Ltd, Stanwell Corporation Limited, InterGen Services Inc., EnergyAustralia Holdings Ltd, and AGL Energy Limited.
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