Steady Expansion Forecast for Power EPC Market, Projected to Reach $897.46 Billion by 2029

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Power EPC Market Size Valuation Forecast: What Will the Market Be Worth by 2025?
Over the past few years, the power epc market size has experienced considerable growth. A rise from $684.9 billion in 2024 to $720.67 billion in 2025, with a compound annual growth rate (CAGR) of 5.2%, is expected. This growth in the earlier period can be linked to encouraging government policies and rewards for green energy projects, quick urbanization, and industrial growth. Also contributing are the increasing investments of private sector entities in power generation, the heightened focus on energy assurance and dependability, and the drive to electrify sectors like transportation and heating.

Power EPC Market Size Forecast: What's the Projected Valuation by 2029?
Anticipated robust expansion is projected for the power epc market in the upcoming years, with estimations predicting it to reach a value of $897.46 billion by 2029, growing at a compound annual growth rate (CAGR) of 5.6%. This anticipated surge during the forecast period is a result of factors such as the increasing global demand for energy, a shift towards adopting renewable sources of energy, growing consciousness and worries about climate change, upgrades and expansions in grid infrastructure to accommodate modern sources of generation, and the rising incidents of extreme weather phenomena. Notable trends during this forecast period are expected to be innovations in power generating technologies, enhanced energy storage solutions, smart grid technologies, developments in emerging markets, research and development and innovation in the field of energy storage, as well as the integration of digital technologies.

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What Are the Drivers Transforming the Power EPC Market?
The expansion of the power EPC market is projected to be driven by the escalating energy need. Factors contributing to this surge in energy demand include the increasing worldwide population, quick industrialization, urbanization, technological progress, and elevated living standards, which all lead to heightened energy usage in residential, commercial, and industrial sectors. Power EPC services play an integral role in the energy industry, aiding in the efficient design, construction, and management of large-scale power production and distribution projects. For instance, projections by the International Energy Agency, an intergovernmental organization based in France, indicate that global electricity demand will increase by roughly 4% in 2024, a significant rise from 2.5% in 2023. Additionally, the global electricity supply is predicted to increase from 30% in 2023 to 35% in 2025. Thus, the mounting energy demand is a core propeller for the power EPC market.

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What Long-Term Trends Will Define the Future of the Power EPC Market?
Leading corporations in the power EPC market are strategically focusing on the development of advanced products like renewable energy solutions to secure a market advantage. These solutions consist of numerous technologies and procedures geared towards harnessing power from naturally replenishing sources. A prime example of this occurred in June 2022 when Tata Power Solar Systems Limited, a company based in India that provides solar energy services, undertook the commissioning of a 66 MW EPC project for Vibrant Energy. The project forecasts to yield around 110,029 units of energy each year. This installation will also significantly reduce carbon emissions by up to 9 lakh metric tons. Located over 191 acres, the project comprises 1,27,268 solar modules and was notably completed within just nine months.

Which Segments in the Power EPC Market Offer the Most Profit Potential?
The power epcmarket covered in this report is segmented -

1) By Type: Thermal Power Source, Combined Cycle Power Source, Gas based, Nuclear Power Source, Renewable, Other Types
2) By Equipment: Gas Turbines, Steam Turbines, Bailors, Generators, Control Systems, Other Equipment
3) By Application: Power Generation, Power Transmission And Distribution, Other Applications

Subsegments:
1) By Thermal Power Source: Coal-Fired Power Plants, Natural Gas Power Plants, Oil-Fired Power Plants
2) By Combined Cycle Power Source: Natural Gas Combined Cycle (NGCC), Integrated Gasification Combined Cycle (IGCC)
3) By Gas-Based: Open Cycle Gas Turbine (OCGT), Gas Engine Power Plants
4) By Nuclear Power Source: Pressurized Water Reactors (PWR), Boiling Water Reactors (BWR), Small Modular Reactors (SMR)
5) By Renewable: Solar Power Plants, Wind Power Plants, Hydropower Plants, Geothermal Power Plants, Biomass Power Plants
6) By Other Types: Hydrogen Power Systems, Waste-to-Energy Plants

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Which Firms Dominate the Power EPC Market by Market Share and Revenue in 2025?
Major companies operating in the power EPC market are PowerChina, General Electric Company, ABB Ltd., Mitsubishi Heavy Industries Ltd., Siemens Energy AG, Larsen & Toubro Limited, Hitachi Energy Ltd., Bechtel Corporation, Skanska AB, Jacobs Solutions Inc., Fluor Corporation, Doosan Enerbility Co. Ltd., Worley Limited, KBR Inc., Technip Energies, AtkinsRéalis Group Inc., JGC Holdings Corporation, Black & Veatch, Petrofac Limited, Tata Projects, Babcock & Wilcox Enterprises Inc., Sapura Energy Berhad

Which Regions Offer the Highest Growth Potential in the Power EPC Market?
Asia-Pacific was the largest region in the power EPC market in 2024 and it is expected to be the fastest-growing region in the forecast period. The regions covered in the power EPC market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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