Power EPC Market is estimated to be valued at USD 732.23 Bn in 2025 and is expected to reach USD 1,130.41 Bn by 2032, growing at a compound annual growth rate (CAGR) of 6.4% from 2025 to 2032.
Report Coverage
Report Details
Base Year:
2024
Market Size in 2025:
USD 732.23 Bn
Historical Data for:
2020 To 2024
Forecast Period:
2025 To 2032
Forecast Period 2025 to 2032 CAGR:
6.40%
2032 Value Projection:
USD 1,130.41 Bn
The global power EPC market has witnessed significant growth in recent years, driven by the increasing demand for energy infrastructure development worldwide. Power Engineering, Procurement, and Construction (EPC) refers to the process of designing, procuring, and constructing power generation facilities, including thermal power plants, hydroelectric plants, nuclear power plants, and renewable energy projects. The power EPC market encompasses a wide range of services, from feasibility studies and design to procurement, construction, commissioning, and maintenance. With the growing emphasis on sustainable energy solutions and the need to meet rising energy demands, the power EPC market is poised for substantial growth in the coming years. This blog aims to provide an overview of the global power EPC market, its key drivers, challenges, and future prospects.
Market Dynamic:
The global power EPC market is influenced by several factors that drive its growth, present challenges, and offer opportunities for industry players. One of the primary drivers is the increasing demand for electricity, fueled by population growth, urbanization, and industrialization in emerging economies. Governments worldwide are investing in power infrastructure development to meet this growing demand, creating a conducive environment for power EPC projects. Additionally, the shift towards renewable energy sources, such as solar, wind, and hydropower, is driving the demand for EPC services in the clean energy sector. However, the market also faces restraints, such as the high capital costs associated with power projects, regulatory complexities, and geopolitical uncertainties. These factors can impact project timelines, budgets, and overall market growth. Moreover, the power EPC market is highly competitive, with numerous players vying for projects, leading to pricing pressures and margin compression. Despite these challenges, the market presents significant opportunities for companies that can offer innovative solutions, leverage digital technologies, and adapt to the changing energy landscape. The increasing focus on smart grids, energy storage, and distributed energy resources opens up new avenues for power EPC players to expand their services and tap into emerging market segments.
Key Features of the Study:
This report provides in-depth analysis of the global power EPC market, and provides market size (USD Bn) and compound annual growth rate (CAGR%) for the forecast period (2025-2032), considering 2024 as the base year
It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
This study also provides key insights about market drivers, restraints, opportunities, new product launches or approvals, market trends, regional outlook, and competitive strategies adopted by key players
It profiles key players in the global power EPC market based on the following parameters - company highlights, products portfolio, key highlights, financial performance, and strategies
Key companies covered as a part of this study include Siemens AG, General Electric, Fluor Corporation, Bechtel Corporation, McDermott International, ABB Ltd., Kiewit Corporation, Black & Veatch, Jacobs Engineering Group, Samsung C&T Corporation, Larsen & Toubro, Power Construction Corporation of China, Toshiba Corporation, Babcock & Wilcox, and Chiyoda Corporation
Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
The global power EPC market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global power EPC market
Market Segmentation
Type of Power Generation Insights (Revenue, USD Bn, 2020 - 2032)
Thermal Power
Renewable Energy (Solar, Wind, Hydro)
Nuclear Power
Others
Service Insights (Revenue, USD Bn, 2020 - 2032)
Engineering
Procurement
Construction
Commissioning
Equipment Insights (Revenue, USD Bn, 2020 - 2032)
Steam Turbines
Gas Turbines
Boilers
Control Systems
Generators
Others
Regional Insights (Revenue, USD Bn, 2020 - 2032)
North America
U.S.
Canada
Latin America
Brazil
Argentina
Mexico
Rest of Latin America
Europe
Germany
U.K.
Spain
France
Italy
Russia
Rest of Europe
Asia Pacific
China
India
Japan
Australia
South Korea
ASEAN
Rest of Asia Pacific
Middle East
GCC Countries
Israel
Rest of Middle East
Africa
South Africa
North Africa
Central Africa
Key Players Insights
Siemens AG
General Electric
Fluor Corporation
Bechtel Corporation
McDermott International
ABB Ltd.
Kiewit Corporation
Black & Veatch
Jacobs Engineering Group
Samsung C&T Corporation
Larsen & Toubro
Power Construction Corporation of China
Toshiba Corporation
Babcock & Wilcox
Chiyoda Corporation
Table of Contents
1. Research Objectives and Assumptions
Research Objectives
Assumptions
Abbreviations
2. Market Purview
Report Description
Market Definition and Scope
Executive Summary
Global Power EPC Market, By Type of Power Generation
Global Power EPC Market, By Service
Global Power EPC Market, By Equipment
Global Power EPC Market, By Region
3. Market Dynamics, Regulations, and Trends Analysis
Market Dynamics
Impact Analysis
Key Highlights
Regulatory Scenario
Product Launches/Approvals
PEST Analysis
PORTER's Analysis
Market Opportunities
Regulatory Scenario
Key Developments
Industry Trends
4. Global Power EPC Market, By Type of Power Generation, 2020-2032, (USD Bn)
Introduction
Market Share Analysis, 2025 and 2032 (%)
Y-o-Y Growth Analysis, 2021 - 2032
Segment Trends
Thermal Power
Introduction
Market Size and Forecast, and Y-o-Y Growth, 2020-2032, (USD Bn)
Renewable Energy (Solar, Wind, Hydro)
Introduction
Market Size and Forecast, and Y-o-Y Growth, 2020-2032, (USD Bn)
Nuclear Power
Introduction
Market Size and Forecast, and Y-o-Y Growth, 2020-2032, (USD Bn)
Others
Introduction
Market Size and Forecast, and Y-o-Y Growth, 2020-2032, (USD Bn)
5. Global Power EPC Market, By Service, 2020-2032, (USD Bn)
Introduction
Market Share Analysis, 2025 and 2032 (%)
Y-o-Y Growth Analysis, 2021 - 2032
Segment Trends
Engineering
Introduction
Market Size and Forecast, and Y-o-Y Growth, 2020-2032, (USD Bn)
Procurement
Introduction
Market Size and Forecast, and Y-o-Y Growth, 2020-2032, (USD Bn)
Construction
Introduction
Market Size and Forecast, and Y-o-Y Growth, 2020-2032, (USD Bn)
Commissioning
Introduction
Market Size and Forecast, and Y-o-Y Growth, 2020-2032, (USD Bn)
6. Global Power EPC Market, By Equipment, 2020-2032, (USD Bn)
Introduction
Market Share Analysis, 2025 and 2032 (%)
Y-o-Y Growth Analysis, 2021 - 2032
Segment Trends
Steam Turbines
Introduction
Market Size and Forecast, and Y-o-Y Growth, 2020-2032, (USD Bn)
Gas Turbines
Introduction
Market Size and Forecast, and Y-o-Y Growth, 2020-2032, (USD Bn)
Boilers
Introduction
Market Size and Forecast, and Y-o-Y Growth, 2020-2032, (USD Bn)
Control Systems
Introduction
Market Size and Forecast, and Y-o-Y Growth, 2020-2032, (USD Bn)
Generators
Introduction
Market Size and Forecast, and Y-o-Y Growth, 2020-2032, (USD Bn)
Others
Introduction
Market Size and Forecast, and Y-o-Y Growth, 2020-2032, (USD Bn)
7. Global Power EPC Market, By Region, 2020 - 2032, Value (USD Bn)