Southeast Asia Power Generation Epc Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)
The Southeast Asian power generation EPC market is expected to register a CAGR of more than 7% during the forecast period, 2022-2027. The COVID-19 outbreak had a moderate impact on the power generation EPC market across the region, leading to delays in multiple power projects. Still, all the operations were resumed, augmenting the market size. Rapidly growing population and increasing power consumption are the key factors resulting in the growth of the power market. With soaring power demand, numerous new projects are under construction and planning stages, which, in turn, is expected to enhance the market share. In addition, the accelerating deployment of renewable energy sources on a large scale is expected to drive the EPC market across the region. However, low domestic investments and slow processing of tenders are likely to restrain the market growth during the forecast period.
Key HighlightsThe Southeast Asia power generation EPC power market is moderately fragmented. Some of the major companies include Mitsubishi Heavy Industries Ltd, Hyundai Engineering Co. Ltd, Sumitomo Corporation, Poyry PLC, and Indika Energy.
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