Global Power Plant EPC Market was valued at US $ 119.2 Bn. in 2020. Global Power Plant EPC Market size is estimated to grow at a CAGR of 3.2%.

Power Plant EPC Market Overview:

The market report for Power Plant EPC provides a comprehensive analysis of the competition together with data on market share and company profiles for the top international rivals. The study's scope covers a thorough analysis of the Power Plant EPC Market as well as the variables affecting regional variances in the sector's growth.

Market Scope:

Extensive primary research was conducted to collect data and verify key figures once market engineering, which involved market statistics calculations, market size estimates, market projections, market breakdown, and data triangulation, was finished. Top-down, bottom-up, and other data triangulation approaches were frequently used throughout the market engineering process to conduct market estimates and forecasting for the overall market segments and sub-segments described in this study. All data gathered during the market engineering process is subjected to extensive qualitative and quantitative analysis in order to give crucial information throughout the study.

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Drivers:

The government's initiative to increase the contribution of renewable energy as well as the development of cutting-edge and efficient technologies like supercritical and ultra-supercritical coal power plants are predicted to create a number of opportunities for the power plant EPC market during the forecast period. The expansion of power-related projects around the world is anticipated to fuel the market for power plant EPC during the anticipated time frame.

Governments are increasing their investments in the power generation sector as a result of growing concerns about the supply and availability of energy. Global urbanisation, industrialization, and population growth are all driving up demand for more power generation, which is anticipated to drive the growth of the power plant EPC market over the course of the forecast period.

Segmentation:

The Power Plant EPC Market is divided into the Thermal Power Source, Gas-based, Nuclear Power Source, Renewable, and Others segments based on type. In 2020, the segment for Thermal Power Sources accounted for 47.1 percent of the market. Energy from coal, natural gas, and oil sources is included in the segment of thermal power sources. In 2020, more than half of the electricity generated worldwide came from thermal power sources. China generated 56370 MW of power from thermal power plants in 2020, making Asia-Pacific the region with the largest market for them. The biggest thermal power plant in the world is being constructed, for instance, in Taiwan. It is a coal-fired power plant with an installed capacity of 5,788MW.

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Key Players:

Both primary and secondary research are carried out to determine the market's leaders and forecast market revenue. The in-depth interviewees for the main study included CEOs, marketing executives, and seasoned front-line workers, to name just a few notable thought leaders and subject matter experts. In-depth interviews with significant thought leaders and business experts, including CEOs, marketing executives, and seasoned front-line personnel, were done as part of the primary research.

Reviewing the annual and financial reports of the major manufacturers was done as part of the secondary study. To compute percentage splits, market shares, growth rates, and global market breakdowns, secondary data is used. The outcomes of these calculations are then contrasted with original information. The following companies dominate the Power Plant EPC market:

• Doosan Heavy Industries and Construction
• TATA Project
• Thermax Global
• Worley Parsons
• SK Engineering and Construction
• China National Electric Wire and Cable I/E Corp
• Datang International Power Generation Company Limited
• ShanDong Energy Group CO. Ltd.
• China Energy Engineering Corporation
• Bharat Heavy Electricals Ltd.
• Larsan and Toubro Ltd.
• Sterlite Power Transmission Ltd.
• Technip
• Saipem
• Samsung Engineering
• Petrofac

Regional Analysis:

The specific market driving forces and changes in market legislation affecting present and future market trends are also included in the regional market research report for Power Plant EPC . In order to assess the potential market as a whole and identify profitable patterns to build a stronger foundation, current and upcoming trends are researched. The current environment and expected trends form the foundation of the regional market's evaluation.

COVID-19 Impact Analysis on Power Plant EPC Market:

The growth of end-user industries using Power Plant EPC declined between January 2020 and May 2020 as a result of a halt in operations. These nations included China, the United States, the United Kingdom, Spain, France, Italy, and Spain. As a result, both the market for Power Plant EPC manufacturers and the earnings of businesses involved in these industries saw a dramatic fall. The market's growth in 2020 was impacted by this. End-user business demand for Power Plant EPC has been significantly reduced as a result of lockdowns and an increase in COVID-19 incidents globally.

Key Questions Answered in the Power Plant EPC Market Report are:

• What market sector represented the most percentage of Power Plant EPC in 2021?
• To what extent is the marketplace competitive?
• What are the main elements impacting the development of the Power Plant EPC market?
• Which region commands the largest market share in Power Plant EPC ?
• What is the expected CAGR for the market from 2022 to 2029?

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