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[Latest] Global Power Engineering Procurement and Construction (EPC) Market Size, Forecast, Share Surpass US$ 170Bn 2030

Custom Market Insights

Custom Market Insights

Power Engineering Procurement and Construction (EPC) Market was at US$ 129 Bn in 2021 and is growing to approx US$ 170 Bn by 2030, with a CAGR 4%, 2022 - 2030.

The Global Power Engineering Procurement and Construction (EPC) Market was estimated at USD 129 Bn in 2021 and is anticipated to reach around USD 170 Bn by 2030, growing at a CAGR 4%, 2022 - 2030.”
— Custom Market Insights

AUSTIN, TEXAS, UNITED STATES, March 23, 2023 /EINPresswire.com/ -- According to the study, The Global Power Engineering Procurement and Construction (EPC) Market was estimated at USD 129 Billion in 2021 and is anticipated to reach around USD 170 Billion by 2030, growing at a CAGR of roughly 4% between 2022 and 2030.

Get a sample of the report: https://www.custommarketinsights.com/request-for-free-sample/?reportid=20100

Power Engineering Procurement and Construction (EPC) Market: Overview

Power on a large scale involves energy infrastructure projects, and the construction of power production, transmission, and distribution projects are undertaken under the terms of an EPC contract. Engineering, procurement, and commissioning are referred to as EPC. Engineering and procurement involve developing a project’s thorough engineering plan and acquiring all the tools and raw materials required. Delivering a working facility to the client includes the construction of these projects.

Power Engineering Procurement and Construction (EPC) Market: Growth Drivers

Due to the rising need for power globally, there is an increase in the demand for power plant EPC. In addition, the demand for electricity generation has increased due to global urbanization and industrialization, which is expected to drive the global power plant EPC market throughout the forecast period. Furthermore, it is projected that developments in renewable energy, gas turbines, and digital technologies would increase investments in the worldwide power generation sector. This will likely fuel the global power plant EPC market throughout the forecast year.

Urbanization and population growth have increased the requirement for power. The need for control has also increased as industrial development worldwide has increased. As a result, significant investments are being made in power plants’ global engineering, procurement, and construction (EPC) industry.

Report URL: : https://www.custommarketinsights.com/report/power-engineering-procurement-and-construction-market/

Key Insights:

A) As per the analysis shared by our research analyst, the Power Engineering Procurement and Construction (EPC) market is estimated to grow annually at a CAGR of around 4% over the forecast period (2022-2030).
B) In terms of revenue, the Power Engineering Procurement and Construction (EPC) market size was valued at around USD 129 Billion in 2021 and is projected to reach USD 170 Billion by 2030. Due to a variety of driving factors, the market is predicted to rise at a significant rate.
C) In order to identify opportunities to capitalise on the current industry, Power Engineering, Procurement, and Construction market research provides a thorough study of the current market and estimates through 2020–2030.
D) The analysis provides information on the key market drivers, obstacles, opportunities, and their results.
E) The SWOT analysis and Porter’s Five Forces model are discussed in further detail in the paper.
F) The value chain analysis of the market study offers a complete picture of the stakeholder’s obligations.

Press Release For Power Engineering Procurement and Construction (EPC) Market : https://www.custommarketinsights.com/press-releases/power-engineering-procurement-and-construction-epc-market/

Regional Landscape

From 2022 to 2030, Asia Pacific will lead the worldwide power plant EPC market because of the region’s rapid industrialization and automation expansion. The tendency is expected to persist during the forecast period, especially in nations like China, Japan, India, and South Korea. Japan and India are following China’s investments in renewable energy facilities.

It is anticipated that the Middle East & Africa, and Latin America will be lucrative regions of the global power plant EPC market during the projected period. This is because these regions’ markets are growing significantly. On the other hand, the market is anticipated to grow slowly in North America and Europe. Since the markets in North America and Europe are well-developed, there will probably be few investments made there in the foreseeable future.

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Key Players

Fluor Ltd
John Wood PLC
Kiewit Corporation
McDermott International Inc.
Bechtel Corporation
Saipem SpA
Larsen & Toubro Limited
KBR Corp.
ERGIL
Tekfen Holding
Tecnimont
Sime
Flexitallic

The Power Engineering Procurement and Construction (EPC) Market is segmented as follows:

By Power Generation

Thermal
Renewables
Hydroelectric
Nuclear

By Equipment

Steam Turbines
Gas Turbines
Boilers
Control Systems
Generators
Others

By Geography

North America

The USA
Canada
Mexico
Europe
The UK
Germany
France
Italy
Russia
Rest of Europe

Asia Pacific

China
India
Japan
South Korea
Malaysia
Philippines
Rest of Asia-pacific

Latin America

Brazil
Rest of Latin America
Middle East and Africa
GCC
North Africa
South Africa
Rest of Middle East & Africa

Get a sample of the report: https://www.custommarketinsights.com/request-for-free-sample/?reportid=20100

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About Us

Custom Market Insights is a market research and advisory company delivering business insights and market research reports to large, small, and medium-scale enterprises. We assist clients with strategies and business policies and regularly work towards achieving sustainable growth in their respective domains.

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