Mexico Power Epc Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)
The Mexican power EPC market is expected to register a CAGR of more than 3.5% during the forecast period, 2022-2027. The COVID-19 pandemic has drastically impacted the Mexican power EPC market by creating supply chain bottlenecks and delays in constructing power projects like the solar photovoltaic (PV) project in Sonora, which led to an increase in the overall costs of the projects. Factors such as the increasing need for clean power and upcoming power generation projects, particularly going parallel with the pace of urbanization, are expected to drive the demand for Mexico's power EPC market during the forecast period. However, the government's intentions to reduce private investments and make the sector more state-owned can pose a significant threat to market growth during the forecast period.
Key HighlightsThe Mexican power EPC market is moderately fragmented. Some of the major players in the market include Siemens Gamesa Renewable Energy SA, Vestas Wind Systems AS, SENER Engineering Group, Técnicas Reunidas SA, and Acciona SA.
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