Philippines Power Generation Epc Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)
The power generation EPC market in the Philippines is expected to register a CAGR of over 5% in the forecast period, 2022-2027. The COVID-19 pandemic did not have much impact on the power generation EPC market as the pandemic caused a temporary decline in power consumption as industries were shut down during some period of time during the pandemic, whereas the EPC market is driven by long term forecasting of power demand. Factors, such as the increasing energy demand, are likely to drive the Philippine's power generation EPC market in the forecast period. However, factors, such as the complexity and expensive nature of coal-fired and natural-gas-fired power plants, coupled with delays in projects, are expected to have a negative impact on the market studied.
Key HighlightsThe Philippine power generation EPC market is moderately consolidated. Some of the key players in this market include UPC Renewables, AECOM, Black & Veatch Corp, JGC Philippines Inc., and Fluor Corporation.
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