Power Engineering, Procurement, and Construction (EPC) Market Size, Trends, and Insights By Power Generation (Thermal, Renewables, Hydroelectric, Nuclear), By Equipment (Steam Turbines, Gas Turbines, Boilers, Control Systems, Generators, Others), and By Region - Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2023–2032


Report Code: CMI20100

Published Date: October 2022

Pages: 220+

Category: Energy And Power

Report Snapshot

CAGR: 4%
129B
2021
134B
2022
170B
2030

Source: CMI

Study Period: 2022-2030
Fastest Growing Market: Asia-Pacific
Largest Market: Europe

Major Players

  • Fluor Ltd
  • John Wood PLC
  • Kiewit Corporation
  • McDermott International Inc.
  • Bechtel Corporation
  • Saipem SpA
  • Larsen & Toubro Limited
  • Others

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Reports Description

The market is expanding as a result of the increasing investments in the production of renewable energy.

According to Custom Market Insights (CMI), The Global Power Engineering, Procurement, and Construction EPC Market size was estimated at USD 129 Billion in 2021 and is expected to reach USD 134 billion in 2022 and is expected to hit around USD 170 Billion by 2030, poised to grow at a compound annual growth rate (CAGR) of 4% from 2022 to 2030.

The report examines the Power Engineering, Procurement, and Construction market’s drivers and restraints and their impact analysis. Also, the report mentions global opportunities prevailing in the Power Engineering, Procurement, and Construction market.

Market Overview for Power Engineering, Procurement, and Construction (EPC)

Project planning, acquisition, and construction are the responsibility of EPC firms in response to client requests. These companies are also in charge of commissioning projects, finishing them, and delivering them to owners or clients within a defined time period and budget. Engineers and staff members with specialized knowledge in a certain subject work for these companies and offer suitable solutions for putting together a project in a practical way. Customers can profit by avoiding losses brought on by changes in the cost of raw materials or any other uncertainties (natural or artificial) during the development of a project by choosing an EPC business. The demand for EPC businesses may rise as a result of this factor globally.

COVID-19 Impact Study on the Power Engineering, Procurement, and Construction (EPC) Industry

COVID-19 harmed the market in 2020. The market has now returned to its pre-pandemic levels. Many EPC projects were delayed or abandoned globally as a result of the COVID pandemic’s considerable supply chain delays and budgetary restrictions. It proved to be very difficult for firms that continued to operate during the epidemic to purchase goods.

It costs more to uphold worker safety regulations and social distance standards. Due to the projects’ predetermined budgets, EPC contractors found them to be particularly difficult. Even if the pandemic’s unique nature allowed for exceptions, there were effects on operating expenses and completion schedules. All of this effectively affects the EPC contracts’ profit margins.

Market Growth Factors for the Power Engineering, Procurement, and Construction (EPC) Sector

Increase in the need for power

Electricity demand is anticipated to increase by 2.4% in 2022 after increasing by 6% in 2018, mirroring the average growth rate observed over the five years prior to the Covid-19 crisis.

It is projected that factors such as increasing electricity production and energy consumption demand, as well as changing power generation industry dynamics, will be the primary drivers of long-term demand for the power EPC market. Moreover, improvements in the electrical sector, particularly higher public investment in energy, are projected to be advantageous for the industry.

Global Power Engineering, Procurement, and Construction (EPC) Market 2023–2032 (By Power Generation)

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Switching to renewable energy sources

Hubs that can produce electricity from renewable sources, such as wind, solar, tidal, etc., are being created as a result of a significant shift away from non-renewable energy sources. These EPC projects are frequently quite expensive and use cutting-edge construction methods. In comparison to normal non-energy generating projects, the trend towards the adoption of renewable energy sources will help EPC contractors deliver high-return projects in the same amount of time.

Some countries have also pledged to lessen their carbon footprints, which has spurred corporations and manufacturing facilities to reassess their practices and cut carbon emissions.

Market segmentation for power engineering, procurement, and construction (EPC):

The Power Engineering, Procurement, and Construction market is divided into power generation and equipment for the purposes of our research. Throughout the forecast period of 2022–2030, the demand for renewables based on power generation is anticipated to see a phenomenal CAGR. Renewable energy sources have advanced significantly in recent years. Global renewable generation capacity reached 3,064 gigawatts (GW) by the end of 2021, representing a 9.1% rise in the stock of renewable energy and the largest yearly growth since the 1970s. Two-thirds of the increase in renewable energy can be attributed to the global renewable energy generation capacity, which excludes big hydropower, wind, and solar photovoltaic systems.

Report Scope

Feature of the Report Details
Market Size in 2021 USD 129 Billion
Projected Market Size in 2030 USD 170 Billion
Market Size in 2022 USD 134 Billion
CAGR Growth Rate 4% CAGR (2022-2030)
Base Year 2022
Forecast Period 2023-2032
Prominent 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, and Others
Key Segment By Power Generation, Equipment, and Region
Report Coverage Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors, and Recent Trends
Regional Scope North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America
Buying Options Request tailored purchasing options to fulfill your requirements for research.

Key Insights: 

  • The Power Engineering, Procurement, and Construction market is anticipated to expand annually at a CAGR of about 4% throughout the projected period, according to the study supplied by our research analyst (2022-2030).
  • The Electricity Engineering, Procurement, and Construction industry was estimated to be worth roughly USD 129 billion in revenue in 2021 and is anticipated to be over USD 170 billion by 2030. The market is expected to grow significantly over the coming years as a result of a number of driving factors.
  • 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.
  • The analysis provides information on the key market drivers, obstacles, opportunities, and their results.
  • The SWOT analysis and Porter’s Five Forces model are discussed in further detail in the paper.
  • The value chain analysis of the market study offers a complete picture of the stakeholder’s obligations.

Recent Development

  • In September 2022, NTPC approved BHEL’s request to build a 2660 Megawatt thermal power project in India. The project’s construction will be based on engineering, procurement, and construction.
  • September 2022: An Australian firm called Frontier Energy Ltd. has whittled down its hunt for an engineering, procurement, and construction contractor to only two companies for its 114 MW solar project in Western Australia.

Global Power Engineering, Procurement, and Construction (EPC) Market 2023–2032 (By Billion)

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Regional Landscape

More than 50% of the world’s population and 60% of its largest cities reside in the Asia-Pacific area. Millions of new customers will have access to power in the future as a result of the continent’s rapid industrialization and population increase. For instance, the region’s primary energy consumption climbed from 220,48 exajoules in 2013 to 272,45 exajoules in 2021, according to the BP Statistical Review of World Energy 2022. Moreover, a CAGR of 5.5% is predicted for the EPC services market in the US throughout the projection period.

A growth in infrastructure building in the United States is what is causing the industry to grow. In order to manage projects, evaluate progress based on performance, and complete project development precisely and accurately, engineering, procurement, and building services will be in more demand as infrastructure development picks up. In contrast to China’s hegemony over the regional power EPC market, the energy sector is turning around and converting to cleaner, more sustainable energy sources in order to cut carbon emissions and attain net zero by 2060. For instance, in order to meet the 2030 renewable energy target, the Chinese government planned to construct 450 gigawatts of solar and wind energy-producing facilities in the Gobi Desert region.

Competitive Environment

In the EPC industry, there are both large and small contractors. The market is neither highly consolidated nor extremely fragmented, yet the top ten market participants control more than 60% of the whole market.

Prominent 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 global 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

On the basis of Geography

North America

  • U.S.
  • Canada
  • Mexico
  • Rest of North America

Europe

  • Germany
  • France
  • U.K.
  • Italy
  • Spain
  • Rest of Europe

Asia Pacific

  • China
  • Japan
  • India
  • New Zealand
  • Australia
  • South Korea
  • Rest of Asia Pacific

The Middle East & Africa

  • Saudi Arabia
  • UAE
  • Egypt
  • Kuwait
  • South Africa
  • Rest of the Middle East & Africa

Latin America

  • Brazil
  • Argentina
  • Rest of Latin America

Table of Contents

  • Chapter 1. Preface
    • 1.1 Report Description and Scope
    • 1.2 Research scope
    • 1.3 Research methodology
      • 1.3.1 Market Research Type
      • 1.3.2 Market research methodology
  • Chapter 2. Executive Summary
    • 2.1 Global Power Engineering, Procurement, and Construction EPC Market, (2022 – 2030) (USD Billion)
    • 2.2 Global Power Engineering, Procurement, and Construction EPC Market : snapshot
  • Chapter 3. Global Power Engineering, Procurement, and Construction EPC Market – Industry Analysis
    • 3.1 Power Engineering, Procurement, and Construction Market: Market Dynamics
    • 3.2 Market Drivers
      • 3.2.1 Rising demand for electricity
      • 3.2.2 Shift from non-renewable to renewable energy
    • 3.3 Market Restraints
    • 3.4 Market Opportunities
    • 3.5 Market Challenges
    • 3.6 Porter’s Five Forces Analysis
    • 3.7 Market Attractiveness Analysis
      • 3.7.1 Market attractiveness analysis By Power Generation
      • 3.7.2 Market attractiveness analysis By Equipment
  • Chapter 4. Global Power Engineering, Procurement, and Construction EPC Market- Competitive Landscape
    • 4.1 Company market share analysis
      • 4.1.1 Global Power Engineering, Procurement, and Construction Market: company market share, 2021
    • 4.2 Strategic development
      • 4.2.1 Acquisitions & mergers
      • 4.2.2 New Product launches
      • 4.2.3 Agreements, partnerships, cullaborations, and joint ventures
      • 4.2.4 Research and development and Regional expansion
    • 4.3 Price trend analysis
  • Chapter 5. Global Power Engineering, Procurement, and Construction EPC Market – Power Generation Analysis
    • 5.1 Global Power Engineering, Procurement, and Construction Market overview: By Power Generation
      • 5.1.1 Global Power Engineering, Procurement, and Construction Market share, By Power Generation, 2021 and 2030
    • 5.2 Thermal
      • 5.2.1 Global Power Engineering, Procurement, and Construction Market by Thermal, 2022 – 2030 (USD Billion)
    • 5.3 Renewables
      • 5.3.1 Global Power Engineering, Procurement, and Construction Market by Renewables, 2022 – 2030 (USD Billion)
    • 5.4 Hydroelectric
      • 5.4.1 Global Power Engineering, Procurement, and Construction Market by Hydroelectric, 2022 – 2030 (USD Billion)
    • 5.5 Nuclear
      • 5.5.1 Global Power Engineering, Procurement, and Construction Market by Nuclear, 2022 – 2030 (USD Billion)
  • Chapter 6. Global Power Engineering, Procurement, and Construction EPC Market – Equipment Analysis
    • 6.1 Global Power Engineering, Procurement, and Construction Market overview: By Equipment
      • 6.1.1 Global Power Engineering, Procurement, and Construction Market share, By Equipment, 2021 and 2030
    • 6.2 Steam Turbines
      • 6.2.1 Global Power Engineering, Procurement, and Construction Market by Steam Turbines, 2022 – 2030 (USD Billion)
    • 6.3 Gas Turbines
      • 6.3.1 Global Power Engineering, Procurement, and Construction Market by Gas Turbines, 2022 – 2030 (USD Billion)
    • 6.4 Boilers
      • 6.4.1 Global Power Engineering, Procurement, and Construction Market by Boilers, 2022 – 2030 (USD Billion)
    • 6.5 Control Systems
      • 6.5.1 Global Power Engineering, Procurement, and Construction Market by Control Systems, 2022 – 2030 (USD Billion)
    • 6.6 Generators
      • 6.6.1 Global Power Engineering, Procurement, and Construction Market by Generators, 2022 – 2030 (USD Billion)
    • 6.7 Others
      • 6.7.1 Global Power Engineering, Procurement, and Construction Market by Others, 2022 – 2030 (USD Billion)
  • Chapter 7. Power Engineering, Procurement, and Construction EPC Market – Regional Analysis
    • 7.1 Global Power Engineering, Procurement, and Construction Market Regional Overview
    • 7.2 Global Power Engineering, Procurement, and Construction Market Share, by Region, 2021 & 2030 (USD Billion)
    • 7.3. North America
      • 7.3.1 North America Power Engineering, Procurement, and Construction Market, 2022 – 2030 (USD Billion)
        • 7.3.1.1 North America Power Engineering, Procurement, and Construction Market, by Country, 2022 – 2030 (USD Billion)
    • 7.4 North America Power Engineering, Procurement, and Construction Market, by Power Generation, 2022 – 2030
      • 7.4.1 North America Power Engineering, Procurement, and Construction Market, by Power Generation, 2022 – 2030 (USD Billion)
    • 7.5 North America Power Engineering, Procurement, and Construction Market, by Equipment, 2022 – 2030
      • 7.5.1 North America Power Engineering, Procurement, and Construction Market, by Equipment, 2022 – 2030 (USD Billion)
    • 7.6. Europe
      • 7.6.1 Europe Power Engineering, Procurement, and Construction Market, 2022 – 2030 (USD Billion)
        • 7.6.1.1 Europe Power Engineering, Procurement, and Construction Market, by Country, 2022 – 2030 (USD Billion)
    • 7.7 Europe Power Engineering, Procurement, and Construction Market, by Power Generation, 2022 – 2030
      • 7.7.1 Europe Power Engineering, Procurement, and Construction Market, by Power Generation, 2022 – 2030 (USD Billion)
    • 7.8 Europe Power Engineering, Procurement, and Construction Market, by Equipment, 2022 – 2030
      • 7.8.1 Europe Power Engineering, Procurement, and Construction Market, by Equipment, 2022 – 2030 (USD Billion)
    • 7.9. Asia Pacific
      • 7.9.1 Asia Pacific Power Engineering, Procurement, and Construction Market, 2022 – 2030 (USD Billion)
        • 7.9.1.1 Asia Pacific Power Engineering, Procurement, and Construction Market, by Country, 2022 – 2030 (USD Billion)
    • 7.10 Asia Pacific Power Engineering, Procurement, and Construction Market, by Power Generation, 2022 – 2030
      • 7.10.1 Asia Pacific Power Engineering, Procurement, and Construction Market, by Power Generation, 2022 – 2030 (USD Billion)
    • 7.11 Asia Pacific Power Engineering, Procurement, and Construction Market, by Equipment, 2022 – 2030
      • 7.11.1 Asia Pacific Power Engineering, Procurement, and Construction Market, by Equipment, 2022 – 2030 (USD Billion)
    • 7.12. Latin America
      • 7.12.1 Latin America Power Engineering, Procurement, and Construction Market, 2022 – 2030 (USD Billion)
        • 7.12.1.1 Latin America Power Engineering, Procurement, and Construction Market, by Country, 2022 – 2030 (USD Billion)
    • 7.13 Latin America Power Engineering, Procurement, and Construction Market, by Power Generation, 2022 – 2030
      • 7.13.1 Latin America Power Engineering, Procurement, and Construction Market, by Power Generation, 2022 – 2030 (USD Billion)
    • 7.14 Latin America Power Engineering, Procurement, and Construction Market, by Equipment, 2022 – 2030
      • 7.14.1 Latin America Power Engineering, Procurement, and Construction Market, by Equipment, 2022 – 2030 (USD Billion)
    • 7.15. The Middle-East and Africa
      • 7.15.1 The Middle-East and Africa Power Engineering, Procurement, and Construction Market, 2022 – 2030 (USD Billion)
        • 7.15.1.1 The Middle-East and Africa Power Engineering, Procurement, and Construction Market, by Country, 2022 – 2030 (USD Billion)
    • 7.16 The Middle-East and Africa Power Engineering, Procurement, and Construction Market, by Power Generation, 2022 – 2030
      • 7.16.1 The Middle-East and Africa Power Engineering, Procurement, and Construction Market, by Power Generation, 2022 – 2030 (USD Billion)
    • 7.17 The Middle-East and Africa Power Engineering, Procurement, and Construction Market, by Equipment, 2022 – 2030
      • 7.17.1 The Middle-East and Africa Power Engineering, Procurement, and Construction Market, by Equipment, 2022 – 2030 (USD Billion)
  • Chapter 8. Company Profiles
    • 8.1 Fluor Ltd
      • 8.1.1 Overview
      • 8.1.2 Financials
      • 8.1.3 Product Portfolio
      • 8.1.4 Business Strategy
      • 8.1.5 Recent Developments
    • 8.2 John Wood PLC
      • 8.2.1 Overview
      • 8.2.2 Financials
      • 8.2.3 Product Portfolio
      • 8.2.4 Business Strategy
      • 8.2.5 Recent Developments
    • 8.3 Kiewit Corporation
      • 8.3.1 Overview
      • 8.3.2 Financials
      • 8.3.3 Product Portfolio
      • 8.3.4 Business Strategy
      • 8.3.5 Recent Developments
    • 8.4 McDermott International Inc.
      • 8.4.1 Overview
      • 8.4.2 Financials
      • 8.4.3 Product Portfolio
      • 8.4.4 Business Strategy
      • 8.4.5 Recent Developments
    • 8.5 Bechtel Corporation
      • 8.5.1 Overview
      • 8.5.2 Financials
      • 8.5.3 Product Portfolio
      • 8.5.4 Business Strategy
      • 8.5.5 Recent Developments
    • 8.6 Saipem SpA
      • 8.6.1 Overview
      • 8.6.2 Financials
      • 8.6.3 Product Portfolio
      • 8.6.4 Business Strategy
      • 8.6.5 Recent Developments
    • 8.7 Larsen & Toubro Limited
      • 8.7.1 Overview
      • 8.7.2 Financials
      • 8.7.3 Product Portfolio
      • 8.7.4 Business Strategy
      • 8.7.5 Recent Developments
    • 8.8 KBR Corp.
      • 8.8.1 Overview
      • 8.8.2 Financials
      • 8.8.3 Product Portfolio
      • 8.8.4 Business Strategy
      • 8.8.5 Recent Developments
    • 8.9 ERGIL
      • 8.9.1 Overview
      • 8.9.2 Financials
      • 8.9.3 Product Portfolio
      • 8.9.4 Business Strategy
      • 8.9.5 Recent Developments
    • 8.10 Tekfen Holding
      • 8.10.1 Overview
      • 8.10.2 Financials
      • 8.10.3 Product Portfolio
      • 8.10.4 Business Strategy
      • 8.10.5 Recent Developments
    • 8.11 Tecnimont
      • 8.11.1 Overview
      • 8.11.2 Financials
      • 8.11.3 Product Portfolio
      • 8.11.4 Business Strategy
      • 8.11.5 Recent Developments
    • 8.12 Sime
      • 8.12.1 Overview
      • 8.12.2 Financials
      • 8.12.3 Product Portfolio
      • 8.12.4 Business Strategy
      • 8.12.5 Recent Developments
    • 8.13 Flexitallic
      • 8.13.1 Overview
      • 8.13.2 Financials
      • 8.13.3 Product Portfolio
      • 8.13.4 Business Strategy
      • 8.13.5 Recent Developments

List Of Figures

  • 1. Market research Type
  • 2. Market research methodology
  • 3. Global Power Engineering, Procurement, and Construction EPC Market, 2022 – 2030 (USD Billion)
  • 4. Porter’s Five Forces Analysis
  • 5. Global Power Engineering, Procurement, and Construction EPC Market attractiveness, By Power Generation
  • 6. Global Power Engineering, Procurement, and Construction EPC Market attractiveness, By Equipment
  • 7. Global Power Engineering, Procurement, and Construction EPC Market share by Power Generation, 2022 and 2030 (USD Billion)
  • 8. Global Power Engineering, Procurement, and Construction EPC Market by Thermal, 2022 – 2030 (USD Billion)
  • 9. Global Power Engineering, Procurement, and Construction EPC Market by Renewables, 2022 – 2030 (USD Billion)
  • 10. Global Power Engineering, Procurement, and Construction EPC Market by Hydroelectric, 2022 – 2030 (USD Billion)
  • 11. Global Power Engineering, Procurement, and Construction EPC Market by Nuclear, 2022 – 2030 (USD Billion)
  • 12. Global Power Engineering, Procurement, and Construction EPC Market share by Equipment, 2022 and 2030 (USD Billion)
  • 13. Global Power Engineering, Procurement, and Construction Market by Steam Turbines, 2022 – 2030 (USD Billion)
  • 14. Global Power Engineering, Procurement, and Construction Market by Gas Turbines, 2022 – 2030 (USD Billion)
  • 15. Global Power Engineering, Procurement, and Construction Market by Boilers, 2022 – 2030 (USD Billion)
  • 16. Global Power Engineering, Procurement, and Construction Market by Control Systems, 2022 – 2030 (USD Billion)
  • 17. Global Power Engineering, Procurement, and Construction Market by Generators, 2022 – 2030 (USD Billion)
  • 18. Global Power Engineering, Procurement, and Construction Market by Others, 2022 – 2030 (USD Billion)
  • 19. Global Power Engineering, Procurement, and Construction Market share, by Region, 2022 and 2030
  • 20. North America Power Engineering, Procurement, and Construction Market, 2022 – 2030 (USD Billion)
  • 21. Europe Power Engineering, Procurement, and Construction Market, 2022 – 2030 (USD Billion)
  • 22. Asia Pacific Power Engineering, Procurement, and Construction Market, 2022 – 2030 (USD Billion)
  • 23. Latin America Power Engineering, Procurement, and Construction Market, 2022 – 2030 (USD Billion)
  • 24. The Middle-East and Africa Power Engineering, Procurement, and Construction Market, 2022 – 2030 (USD Billion)

List Of Tables

  • 1. Global Power Engineering, Procurement, and Construction Market: Snapshot
  • 2. Drivers of the Power Engineering, Procurement, and Construction Market: impact analysis
  • 3. North America Power Engineering, Procurement, and Construction Market revenue, By Power Generation, 2022 – 2030 (USD Billion)
  • 4. North America Power Engineering, Procurement, and Construction Market revenue, By Equipment, 2022 – 2030 (USD Billion)
  • 5. U.S. Power Engineering, Procurement, and Construction Market revenue, By Power Generation, 2022 – 2030 (USD Billion)
  • 6. U.S. Power Engineering, Procurement, and Construction Market revenue, By Equipment, 2022 – 2030 (USD Billion)
  • 7. Canada Power Engineering, Procurement, and Construction Market revenue, By Power Generation, 2022 – 2030 (USD Billion)
  • 8. Canada Power Engineering, Procurement, and Construction Market revenue, By Equipment, 2022 – 2030 (USD Billion)
  • 9. Europe Power Engineering, Procurement, and Construction Market revenue, By Power Generation, 2022 – 2030 (USD Billion)
  • 10. Europe Power Engineering, Procurement, and Construction Market revenue, By Equipment, 2022 – 2030 (USD Billion)
  • 11. Germany Power Engineering, Procurement, and Construction Market revenue, By Power Generation, 2022 – 2030 (USD Billion)
  • 12. Germany Power Engineering, Procurement, and Construction Market revenue, By Equipment, 2022 – 2030 (USD Billion)
  • 13. France Power Engineering, Procurement, and Construction Market revenue, By Power Generation, 2022 – 2030 (USD Billion)
  • 14. France Power Engineering, Procurement, and Construction Market revenue, By Equipment, 2022 – 2030 (USD Billion)
  • 15. U.K. Power Engineering, Procurement, and Construction Market revenue, By Power Generation, 2022 – 2030 (USD Billion)
  • 16. U.K. Power Engineering, Procurement, and Construction Market revenue, By Equipment, 2022 – 2030 (USD Billion)
  • 17. Italy Power Engineering, Procurement, and Construction Market revenue, By Power Generation, 2022 – 2030 (USD Billion)
  • 18. Italy Power Engineering, Procurement, and Construction Market revenue, By Equipment, 2022 – 2030 (USD Billion)
  • 19. Spain Power Engineering, Procurement, and Construction Market revenue, By Power Generation, 2022 – 2030 (USD Billion)
  • 20. Spain Power Engineering, Procurement, and Construction Market revenue, By Equipment, 2022 – 2030 (USD Billion)
  • 21. Rest of Europe Power Engineering, Procurement, and Construction Market revenue, By Power Generation, 2022 – 2030 (USD Billion)
  • 22. Rest of Europe Power Engineering, Procurement, and Construction Market revenue, By Equipment, 2022 – 2030 (USD Billion)
  • 23. Asia Pacific Power Engineering, Procurement, and Construction Market revenue, By Power Generation, 2022 – 2030 (USD Billion)
  • 24. Asia Pacific Power Engineering, Procurement, and Construction Market revenue, By Equipment, 2022 – 2030 (USD Billion)
  • 25. China Power Engineering, Procurement, and Construction Market revenue, By Power Generation, 2022 – 2030 (USD Billion)
  • 26. China Power Engineering, Procurement, and Construction Market revenue, By Equipment, 2022 – 2030 (USD Billion)
  • 27. Japan Power Engineering, Procurement, and Construction Market revenue, By Power Generation, 2022 – 2030 (USD Billion)
  • 28. Japan Power Engineering, Procurement, and Construction Market revenue, By Equipment, 2022 – 2030 (USD Billion)
  • 29. India Power Engineering, Procurement, and Construction Market revenue, By Power Generation, 2022 – 2030 (USD Billion)
  • 30. India Power Engineering, Procurement, and Construction Market revenue, By Equipment, 2022 – 2030 (USD Billion)
  • 31. South Korea Power Engineering, Procurement, and Construction Market revenue, By Power Generation, 2022 – 2030 (USD Billion)
  • 32. South Korea Power Engineering, Procurement, and Construction Market revenue, By Equipment, 2022 – 2030 (USD Billion)
  • 33. South-East Asia Power Engineering, Procurement, and Construction Market revenue, By Power Generation, 2022 – 2030 (USD Billion)
  • 34. South-East Asia Power Engineering, Procurement, and Construction Market revenue, By Equipment, 2022 – 2030 (USD Billion)
  • 35. Rest of Asia Pacific Power Engineering, Procurement, and Construction Market revenue, By Power Generation, 2022 – 2030 (USD Billion)
  • 36. Rest of Asia Pacific Power Engineering, Procurement, and Construction Market revenue, By Equipment, 2022 – 2030 (USD Billion)
  • 37. Latin America Power Engineering, Procurement, and Construction Market revenue, By Power Generation, 2022 – 2030 (USD Billion)
  • 38. Latin America Power Engineering, Procurement, and Construction Market revenue, By Equipment, 2022 – 2030 (USD Billion)
  • 39. Brazil Power Engineering, Procurement, and Construction Market revenue, By Power Generation, 2022 – 2030 (USD Billion)
  • 40. Brazil Power Engineering, Procurement, and Construction Market revenue, By Equipment, 2022 – 2030 (USD Billion)
  • 41. Mexico Power Engineering, Procurement, and Construction Market revenue, By Power Generation, 2022 – 2030 (USD Billion)
  • 42. Mexico Power Engineering, Procurement, and Construction Market revenue, By Equipment, 2022 – 2030 (USD Billion)
  • 43. Rest of Latin America Power Engineering, Procurement, and Construction Market revenue, By Power Generation, 2022 – 2030 (USD Billion)
  • 44. Rest of Latin America Power Engineering, Procurement, and Construction Market revenue, By Equipment, 2022 – 2030 (USD Billion)
  • 45. The Middle-East and Africa Power Engineering, Procurement, and Construction Market revenue, By Power Generation, 2022 – 2030 (USD Billion)
  • 46. The Middle-East and Africa Power Engineering, Procurement, and Construction Market revenue, By Equipment, 2022 – 2030 (USD Billion)
  • 47. GCC Countries Power Engineering, Procurement, and Construction Market revenue, By Power Generation, 2022 – 2030 (USD Billion)
  • 48. GCC Countries Power Engineering, Procurement, and Construction Market revenue, By Equipment, 2022 – 2030 (USD Billion)
  • 49. South Africa Power Engineering, Procurement, and Construction Market revenue, By Power Generation, 2022 – 2030 (USD Billion)
  • 50. South Africa Power Engineering, Procurement, and Construction Market revenue, By Equipment, 2022 – 2030 (USD Billion)
  • 51. Rest of Middle-East Africa Power Engineering, Procurement, and Construction Market revenue, By Power Generation, 2022 – 2030 (USD Billion)
  • 52. Rest of Middle-East Africa Power Engineering, Procurement, and Construction Market revenue, By Equipment, 2022 – 2030 (USD Billion)

Report Methodology

In order to get the most precise estimates and forecasts possible, Custom Market Insights applies a detailed and adaptive research methodology centered on reducing deviations. For segregating and assessing quantitative aspects of the market, the company uses a combination of top-down and bottom-up approaches. Furthermore, data triangulation, which examines the market from three different aspects, is a recurring theme in all of our research reports. The following are critical components of the methodology used in all of our studies:

Preliminary Data Mining

On a broad scale, raw market information is retrieved and compiled. Data is constantly screened to make sure that only substantiated and verified sources are taken into account. Furthermore, data is mined from a plethora of reports in our archive and also a number of reputed & reliable paid databases. To gain a detailed understanding of the business, it is necessary to know the entire product life cycle, and to facilitate this, we gather data from different suppliers, distributors, and buyers.

Surveys, technological conferences, and trade magazines are used to identify technical issues and trends. Technical data is also gathered from the standpoint of intellectual property, with a focus on freedom of movement and white space. The dynamics of the industry in terms of drivers, restraints, and valuation trends are also gathered. As a result, the content created contains a diverse range of original data, which is then cross-validated and verified with published sources.

Statistical Model

Simulation models are used to generate our business estimates and forecasts. For each study, a one-of-a-kind model is created. Data gathered for market dynamics, the digital landscape, development services, and valuation patterns are fed into the prototype and analyzed concurrently. These factors are compared, and their effect over the projected timeline is quantified using correlation, regression, and statistical modeling. Market forecasting is accomplished through the use of a combination of economic techniques, technical analysis, industry experience, and domain knowledge.

Short-term forecasting is typically done with econometric models, while long-term forecasting is done with technological market models. These are based on a synthesis of the technological environment, legal frameworks, economic outlook, and business regulations. Bottom-up market evaluation is favored, with crucial regional markets reviewed as distinct entities and data integration to acquire worldwide estimates. This is essential for gaining a thorough knowledge of the industry and ensuring that errors are kept to a minimum.

Some of the variables taken into account for forecasting are as follows:

• Industry drivers and constraints, as well as their current and projected impact

• The raw material case, as well as supply-versus-price trends

• Current volume and projected volume growth through 2030

We allocate weights to these variables and use weighted average analysis to determine the estimated market growth rate.

Primary Validation

This is the final step in our report’s estimating and forecasting process. Extensive primary interviews are carried out, both in-person and over the phone, to validate our findings and the assumptions that led to them.
Leading companies from across the supply chain, including suppliers, technology companies, subject matter experts, and buyers, use techniques like interviewing to ensure a comprehensive and non-biased overview of the business. These interviews are conducted all over the world, with the help of local staff and translators, to overcome language barriers.

Primary interviews not only aid with data validation, but also offer additional important insight into the industry, existing business scenario, and future projections, thereby improving the quality of our reports.

All of our estimates and forecasts are validated through extensive research work with key industry participants (KIPs), which typically include:

• Market leaders

• Suppliers of raw materials

• Suppliers of raw materials

• Buyers.

The following are the primary research objectives:

• To ensure the accuracy and acceptability of our data.

• Gaining an understanding of the current market and future projections.

Data Collection Matrix

Perspective Primary research Secondary research
Supply-side
  • Manufacturers
  • Technology distributors and wholesalers
  • Company reports and publications
  • Government publications
  • Independent investigations
  • Economic and demographic data
Demand-side
  • End-user surveys
  • Consumer surveys
  • Mystery shopping
  • Case studies
  • Reference customers


Market Analysis Matrix

Qualitative analysis Quantitative analysis
  • Industry landscape and trends
  • Market dynamics and key issues
  • Technology landscape
  • Market opportunities
  • Porter’s analysis and PESTEL analysis
  • Competitive landscape and component benchmarking
  • Policy and regulatory scenario
  • Market revenue estimates and forecast up to 2030
  • Market revenue estimates and forecasts up to 2030, by technology
  • Market revenue estimates and forecasts up to 2030, by application
  • Market revenue estimates and forecasts up to 2030, by type
  • Market revenue estimates and forecasts up to 2030, by component
  • Regional market revenue forecasts, by technology
  • Regional market revenue forecasts, by application
  • Regional market revenue forecasts, by type
  • Regional market revenue forecasts, by component

Prominent 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
  • Others

FAQs

“Asia Pacific” region will lead the global Power Engineering, Procurement, and Construction (EPC) market during the forecast period 2022 to 2030.

The key factors driving the market are rising demand for electricity, shift from non-renewable to renewable energy .

The key players operating in the Power Engineering, Procurement, and Construction (EPC) market are 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 global Power Engineering, Procurement, and Construction (EPC) market is expanding growth with a CAGR of approximately 4% during the forecast period (2022 to 2030).

The global Power Engineering, Procurement, and Construction (EPC) market size was valued at USD 129 Billion in 2021 and it is projected to reach around USD 170 Billion by 2030.

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