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Power Engineering, Procurement, and Construction Market was at US$ 129 Bn in 2021 and is growing to approx US$ 170 Bn by 2030, with a CAGR of 4% | 2022 – 2030.
— Custom Market Insights
SANDY, UTAH, UNITED STATES, November 20, 2022 /EINPresswire.com/ — According to the study, The Global Power Engineering, Procurement, and Construction 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.
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Power Engineering, Procurement, and Construction 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.
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 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 market 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) The Power Engineering, Procurement, and Construction market research offers a comprehensive analysis of the present market and projections through 2020–2030 to help find possibilities to profit from the existing market.
D) The study includes data on the significant market drivers, challenges, and opportunities and their effects.
E) The study elaborates on the SWOT analysis and Porter’s Five Forces model.
F) The market study’s value chain analysis gives a comprehensive picture of the stakeholder’s responsibilities.
Press Release For Power Engineering, Procurement, and Construction 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
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The Power Engineering, Procurement, and Construction 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
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