Power Epc Market

Power EPC Market - Global Market Share, Trends, Analysis and Forecast, 2023-2032
Frequently asked questions about this report

The power EPC market size was estimated to be US$ 191.64 Billion in 2022.

The power EPC market is expected grow at a CAGR of 6.6% between 2023 to 2032.

The power EPC (Engineering, Procurement, and Construction) market is being driven by several factors, including the growing demand for electricity, increasing investments in the renewable energy sector, and the need for modernizing the existing power infrastructure.

The largest segment is the Distribution segment. This is because the distribution network consists of the last-mile infrastructure that delivers electricity to end consumers, such as households, businesses, and industries.

China and India are the largest markets for Power EPC in the region, with a significant number of power plant construction and modernization projects.

ABB Ltd., Black & Veatch, Doosan Heavy Industries & Construction Co., Ltd., General Electric Company, Hyundai Engineering & Construction Co., Ltd., Larsen & Toubro Limited, Mitsubishi Electric Corporation, Mitsubishi Heavy Industries, Ltd., Schneider Electric SE, Siemens AG, Skanska AB, Sterling and Wilson Private Limited, Sumitomo Electric Industries, Ltd., TechnipFMC plc, Toshiba Corporation among others, are the major players in this market.

The major growth strategies adopted by these companies are investing in research and development to develop innovative and efficient products that meet the evolving needs of customers.