Report Code : CVMI24071685 | Published Date : March 12, 2025
The Power Plant EPC (Engineering, Procurement, and Construction) Market is experiencing substantial growth, driven by rising global electricity demand, the expansion of renewable energy initiatives, and investments in upgrading grid infrastructure. The market was valued at USD XX billion in 2019 and grew to USD XX billion in 2023. It is projected to expand at a CAGR of XX% from 2024 to 2031, reaching USD XX billion by the end of that period
Power Plant EPC Market Key Market Insights
EPC contractors play a crucial role in designing, constructing, and commissioning power generation facilities, including thermal, hydro, solar, wind, and nuclear power plants. The shift toward smart grid integration, AI-driven plant monitoring, and energy-efficient construction of power plants is reshaping the industry
Power Plant EPC Market Growth Drivers
- Rising Demand for Power Infrastructure and Electricity Generation Capacity – Both governments and private entities are investing in large-scale power plant construction and modernization projects
- Expansion of Renewable Energy and Clean Power Initiatives – The growth of solar, wind, and hybrid power plants is increasing EPC demand
- Technological Advancements in AI-Driven Power Plant Management and Smart Grid Integration – Innovations in automation, predictive maintenance, and digital twin technology are improving efficiency.
- Government Regulations and Funding for Sustainable Energy Projects – Policies that support decarbonization, energy storage, and grid stability are accelerating market growth
Power Plant EPC Market Regional Trends
- North America excels due to investments in renewable energy and modernization of the smart grid
- Europe is making progress with EU-wide sustainability policies and initiatives for a carbon-neutral energy transition
- The Asia-Pacific region leads as China, India, and Japan increase their power generation capacity
- Latin America and the MEA are emerging markets that benefit from grid modernization and independent power producer (IPP) projects
ClearView Market Insights Analysis;
The Power Plant EPC Market is poised for continuous growth, driven by increasing electricity demand, heightened investments in renewable energy, and advancements in smart grid infrastructure. Companies that invest in AI-powered plant monitoring, modular power plant construction, and integrated EPC solutions will lead this evolving sector.
Reasons To Buy

Scope

Key Players
- Bechtel Corporation
- Fluor Corporation
- KBR Inc.
- McDermott International Ltd.
- Samsung Engineering Co. Ltd.
- Hyundai Engineering & Construction Co. Ltd.
- Toshiba Plant Systems & Services Corporation
- Doosan Heavy Industries & Construction Co. Ltd.
- Technip Energies
- Larsen & Toubro Limited
Global Power Plant EPC Market Report
- 1. Global Power Plant EPC Market Research Report
- 1.1 Study Objectives
- 1.2 Global Power Plant EPC Market - Overview
- 1.3 Reason to Read This Report
- 1.4 Methodology and Forecast Analysis
- 2.1 Global Power Plant EPC Market Research Report – Detailed Scope and Definitions
- 2.1.1 By Fuel Type
- 2.1.2 By Plant Type
- 2.1.3 By Service
- 2.1.4 By Region
- 3.1. Drivers - Macro-Economic Based, Supply Side, and Demand Side Drivers
- 3.2. Restraints – By Fuel Type, By Plant Type, By Service, By Country
- 3.3. Opportunities – By Fuel Type, By Plant Type, By Service, By Country
- 3.4. Trends – By Fuel Type, By Plant Type, By Service, By Country
- 3.5. PEST Analysis
- 3.6. Porters Five Rule Analysis
- 3.7. Company’s Share Analysis (CSA) by Region or By Country
- 3.8. Global Power Plant EPC Market Research Report – DROTs Impact Analysis
- 4.1. Market Performance Review & Future Outlook: Assessing 2019 - 2023 and Predicting 2024 - 2031 Trends (USD Millions)
- 4.2. Annual Market Trend Assessment – Year-on-Year (YoY) Growth Analysis (%)
- 4.3. Incremental Market Value/Volume Opportunity between 2019 - 2023 and 2024 - 2031
- 4.4. Market Shares Analysis in Years - 2019, 2023, 2024 and 2031
- 5.1 Renewable Energy (Solar
- 5.1.1 Market Performance Review & Future Outlook: Assessing 2019 - 2023 and Predicting 2024 - 2031 Trends (USD Millions)
- 5.1.2 Annual Market Trend Assessment – Yearly Growth Observation (Y-O-Y)(%)
- 5.1.3 Incremental Market Value/Volume Opportunity between 2019 - 2023 and From 2024 to 2031
- 5.1.4 Market Shares Analysis in Years - 2019, 2023, 2024 and 2031
- 5.2 Wind
- 5.2.1 Market Performance Review & Future Outlook: Assessing 2019 - 2023 and Predicting 2024 - 2031 Trends (USD Millions)
- 5.2.2 Annual Market Trend Assessment – Yearly Growth Observation (Y-O-Y)(%)
- 5.2.3 Incremental Market Value/Volume Opportunity between 2019 - 2023 and From 2024 to 2031
- 5.2.4 Market Shares Analysis in Years - 2019, 2023, 2024 and 2031
- 5.3 Hydro
- 5.3.1 Market Performance Review & Future Outlook: Assessing 2019 - 2023 and Predicting 2024 - 2031 Trends (USD Millions)
- 5.3.2 Annual Market Trend Assessment – Yearly Growth Observation (Y-O-Y)(%)
- 5.3.3 Incremental Market Value/Volume Opportunity between 2019 - 2023 and From 2024 to 2031
- 5.3.4 Market Shares Analysis in Years - 2019, 2023, 2024 and 2031
- 5.4 Biomass)
- 5.4.1 Market Performance Review & Future Outlook: Assessing 2019 - 2023 and Predicting 2024 - 2031 Trends (USD Millions)
- 5.4.2 Annual Market Trend Assessment – Yearly Growth Observation (Y-O-Y)(%)
- 5.4.3 Incremental Market Value/Volume Opportunity between 2019 - 2023 and From 2024 to 2031
- 5.4.4 Market Shares Analysis in Years - 2019, 2023, 2024 and 2031
- 5.5 Fossil Fuels (Coal
- 5.5.1 Market Performance Review & Future Outlook: Assessing 2019 - 2023 and Predicting 2024 - 2031 Trends (USD Millions)
- 5.5.2 Annual Market Trend Assessment – Yearly Growth Observation (Y-O-Y)(%)
- 5.5.3 Incremental Market Value/Volume Opportunity between 2019 - 2023 and From 2024 to 2031
- 5.5.4 Market Shares Analysis in Years - 2019, 2023, 2024 and 2031
- 5.6 Natural Gas
- 5.6.1 Market Performance Review & Future Outlook: Assessing 2019 - 2023 and Predicting 2024 - 2031 Trends (USD Millions)
- 5.6.2 Annual Market Trend Assessment – Yearly Growth Observation (Y-O-Y)(%)
- 5.6.3 Incremental Market Value/Volume Opportunity between 2019 - 2023 and From 2024 to 2031
- 5.6.4 Market Shares Analysis in Years - 2019, 2023, 2024 and 2031
- 5.7 Oil)
- 5.7.1 Market Performance Review & Future Outlook: Assessing 2019 - 2023 and Predicting 2024 - 2031 Trends (USD Millions)
- 5.7.2 Annual Market Trend Assessment – Yearly Growth Observation (Y-O-Y)(%)
- 5.7.3 Incremental Market Value/Volume Opportunity between 2019 - 2023 and From 2024 to 2031
- 5.7.4 Market Shares Analysis in Years - 2019, 2023, 2024 and 2031
- 5.8 Nuclear Energy
- 5.8.1 Market Performance Review & Future Outlook: Assessing 2019 - 2023 and Predicting 2024 - 2031 Trends (USD Millions)
- 5.8.2 Annual Market Trend Assessment – Yearly Growth Observation (Y-O-Y)(%)
- 5.8.3 Incremental Market Value/Volume Opportunity between 2019 - 2023 and From 2024 to 2031
- 5.8.4 Market Shares Analysis in Years - 2019, 2023, 2024 and 2031
- 6.1 Combined Cycle Power Plants
- 6.1.1 Market Performance Review & Future Outlook: Assessing 2019 - 2023 and Predicting 2024 - 2031 Trends (USD Millions)
- 6.1.2 Annual Market Trend Assessment – Yearly Growth Observation (Y-O-Y)(%)
- 6.1.3 Incremental Market Value/Volume Opportunity between 2019 - 2023 and From 2024 to 2031
- 6.1.4 Market Shares Analysis in Years - 2019, 2023, 2024 and 2031
- 6.2 Thermal Power Plants
- 6.2.1 Market Performance Review & Future Outlook: Assessing 2019 - 2023 and Predicting 2024 - 2031 Trends (USD Millions)
- 6.2.2 Annual Market Trend Assessment – Yearly Growth Observation (Y-O-Y)(%)
- 6.2.3 Incremental Market Value/Volume Opportunity between 2019 - 2023 and From 2024 to 2031
- 6.2.4 Market Shares Analysis in Years - 2019, 2023, 2024 and 2031
- 6.3 Hydroelectric Power Plants
- 6.3.1 Market Performance Review & Future Outlook: Assessing 2019 - 2023 and Predicting 2024 - 2031 Trends (USD Millions)
- 6.3.2 Annual Market Trend Assessment – Yearly Growth Observation (Y-O-Y)(%)
- 6.3.3 Incremental Market Value/Volume Opportunity between 2019 - 2023 and From 2024 to 2031
- 6.3.4 Market Shares Analysis in Years - 2019, 2023, 2024 and 2031
- 6.4 Wind Farms
- 6.4.1 Market Performance Review & Future Outlook: Assessing 2019 - 2023 and Predicting 2024 - 2031 Trends (USD Millions)
- 6.4.2 Annual Market Trend Assessment – Yearly Growth Observation (Y-O-Y)(%)
- 6.4.3 Incremental Market Value/Volume Opportunity between 2019 - 2023 and From 2024 to 2031
- 6.4.4 Market Shares Analysis in Years - 2019, 2023, 2024 and 2031
- 6.5 Solar Power Plants
- 6.5.1 Market Performance Review & Future Outlook: Assessing 2019 - 2023 and Predicting 2024 - 2031 Trends (USD Millions)
- 6.5.2 Annual Market Trend Assessment – Yearly Growth Observation (Y-O-Y)(%)
- 6.5.3 Incremental Market Value/Volume Opportunity between 2019 - 2023 and From 2024 to 2031
- 6.5.4 Market Shares Analysis in Years - 2019, 2023, 2024 and 2031
- 7.1 Design and Engineering
- 7.1.1 Market Performance Review & Future Outlook: Assessing 2019 - 2023 and Predicting 2024 - 2031 Trends (USD Millions)
- 7.1.2 Annual Market Trend Assessment – Yearly Growth Observation (Y-O-Y)(%)
- 7.1.3 Incremental Market Value/Volume Opportunity between 2019 - 2023 and From 2024 to 2031
- 7.1.4 Market Shares Analysis in Years - 2019, 2023, 2024 and 2031
- 7.2 Procurement
- 7.2.1 Market Performance Review & Future Outlook: Assessing 2019 - 2023 and Predicting 2024 - 2031 Trends (USD Millions)
- 7.2.2 Annual Market Trend Assessment – Yearly Growth Observation (Y-O-Y)(%)
- 7.2.3 Incremental Market Value/Volume Opportunity between 2019 - 2023 and From 2024 to 2031
- 7.2.4 Market Shares Analysis in Years - 2019, 2023, 2024 and 2031
- 7.3 Construction
- 7.3.1 Market Performance Review & Future Outlook: Assessing 2019 - 2023 and Predicting 2024 - 2031 Trends (USD Millions)
- 7.3.2 Annual Market Trend Assessment – Yearly Growth Observation (Y-O-Y)(%)
- 7.3.3 Incremental Market Value/Volume Opportunity between 2019 - 2023 and From 2024 to 2031
- 7.3.4 Market Shares Analysis in Years - 2019, 2023, 2024 and 2031
- 7.4 Commissioning
- 7.4.1 Market Performance Review & Future Outlook: Assessing 2019 - 2023 and Predicting 2024 - 2031 Trends (USD Millions)
- 7.4.2 Annual Market Trend Assessment – Yearly Growth Observation (Y-O-Y)(%)
- 7.4.3 Incremental Market Value/Volume Opportunity between 2019 - 2023 and From 2024 to 2031
- 7.4.4 Market Shares Analysis in Years - 2019, 2023, 2024 and 2031
- 8.1 North America
- 8.1.1 Market Performance Review & Future Outlook: Assessing 2019 - 2023 and Predicting 2024 - 2031 Trends (USD Millions)
- 8.1.2 Annual Market Trend Assessment – Yearly Growth Observation (Y-O-Y)(%)
- 8.1.3 Incremental Market Value/Volume Opportunity between 2019 - 2023 and From 2024 to 2031
- 8.1.4 Market Shares Analysis in Years - 2019, 2023, 2024 and 2031
- 8.2 Europe
- 8.2.1 Market Performance Review & Future Outlook: Assessing 2019 - 2023 and Predicting 2024 - 2031 Trends (USD Millions)
- 8.2.2 Annual Market Trend Assessment – Yearly Growth Observation (Y-O-Y)(%)
- 8.2.3 Incremental Market Value/Volume Opportunity between 2019 - 2023 and From 2024 to 2031
- 8.2.4 Market Shares Analysis in Years - 2019, 2023, 2024 and 2031
- 8.3 Asia-Pacific
- 8.3.1 Market Performance Review & Future Outlook: Assessing 2019 - 2023 and Predicting 2024 - 2031 Trends (USD Millions)
- 8.3.2 Annual Market Trend Assessment – Yearly Growth Observation (Y-O-Y)(%)
- 8.3.3 Incremental Market Value/Volume Opportunity between 2019 - 2023 and From 2024 to 2031
- 8.3.4 Market Shares Analysis in Years - 2019, 2023, 2024 and 2031
- 8.4 Latin America
- 8.4.1 Market Performance Review & Future Outlook: Assessing 2019 - 2023 and Predicting 2024 - 2031 Trends (USD Millions)
- 8.4.2 Annual Market Trend Assessment – Yearly Growth Observation (Y-O-Y)(%)
- 8.4.3 Incremental Market Value/Volume Opportunity between 2019 - 2023 and From 2024 to 2031
- 8.4.4 Market Shares Analysis in Years - 2019, 2023, 2024 and 2031
- 8.5 Middle East & Africa
- 8.5.1 Market Performance Review & Future Outlook: Assessing 2019 - 2023 and Predicting 2024 - 2031 Trends (USD Millions)
- 8.5.2 Annual Market Trend Assessment – Yearly Growth Observation (Y-O-Y)(%)
- 8.5.3 Incremental Market Value/Volume Opportunity between 2019 - 2023 and From 2024 to 2031
- 8.5.4 Market Shares Analysis in Years - 2019, 2023, 2024 and 2031
- 8.6 Global Power Plant EPC Market - Opportunity Analysis Index, By Fuel Type, By Plant Type, By Service, and Region, 2024 - 2031
- 9.1 By Fuel Type Analysis 2019 - 2023 and Forecast, 2024 - 2031 by Market Assessment (USD Mn), Yearly Growth Rate (%), and Market Presence (%)
- 9.1.1 Renewable Energy (Solar
- 9.1.2 Wind
- 9.1.3 Hydro
- 9.1.4 Biomass)
- 9.1.5 Fossil Fuels (Coal
- 9.1.6 Natural Gas
- 9.1.7 Oil)
- 9.1.8 Nuclear Energy
- 9.2.1 Combined Cycle Power Plants
- 9.2.2 Thermal Power Plants
- 9.2.3 Hydroelectric Power Plants
- 9.2.4 Wind Farms
- 9.2.5 Solar Power Plants
- 9.3.1 Design and Engineering
- 9.3.2 Procurement
- 9.3.3 Construction
- 9.3.4 Commissioning
- 9.4.1 United States
- 9.4.2 Canada
9.6 Regional Trends Analysis
9.7 North America Global Power Plant EPC Market Research Report - Company Profiles- 9.7.1 Company 1 (United States)
- 9.7.2 Company 2 (Canada)
- 9.7.3 Company 3 (Canada)
- 10.1 By Fuel Type Analysis 2019 - 2023 and Forecast, 2024 - 2031 by Market Assessment (USD Mn), Yearly Growth Rate (%), and Market Presence (%)
- 10.1.1 Renewable Energy (Solar
- 10.1.2 Wind
- 10.1.3 Hydro
- 10.1.4 Biomass)
- 10.1.5 Fossil Fuels (Coal
- 10.1.6 Natural Gas
- 10.1.7 Oil)
- 10.1.8 Nuclear Energy
- 10.2.1 Combined Cycle Power Plants
- 10.2.2 Thermal Power Plants
- 10.2.3 Hydroelectric Power Plants
- 10.2.4 Wind Farms
- 10.2.5 Solar Power Plants
- 10.3.1 Design and Engineering
- 10.3.2 Procurement
- 10.3.3 Construction
- 10.3.4 Commissioning
- 10.4.1 Germany
- 10.4.2 United Kingdom
- 10.4.3 France
- 10.4.4 Spain
- 10.4.5 Italy
- 10.4.6 Russia
- 10.4.7 Netherlands
- 10.4.8 Poland
- 10.4.9 Rest of Europe
10.6 Regional Trends Analysis
10.7 Europe Global Power Plant EPC Market Research Report - Company Profiles- 10.7.1 Company 1 (Germany)
- 10.7.2 Company 2 (United Kingdom)
- 10.7.3 Company 3 (United Kingdom)
- 11.1 By Fuel Type Analysis 2019 - 2023 and Forecast, 2024 - 2031 by Market Assessment (USD Mn), Yearly Growth Rate (%), and Market Presence (%)
- 11.1.1 Renewable Energy (Solar
- 11.1.2 Wind
- 11.1.3 Hydro
- 11.1.4 Biomass)
- 11.1.5 Fossil Fuels (Coal
- 11.1.6 Natural Gas
- 11.1.7 Oil)
- 11.1.8 Nuclear Energy
- 11.2.1 Combined Cycle Power Plants
- 11.2.2 Thermal Power Plants
- 11.2.3 Hydroelectric Power Plants
- 11.2.4 Wind Farms
- 11.2.5 Solar Power Plants
- 11.3.1 Design and Engineering
- 11.3.2 Procurement
- 11.3.3 Construction
- 11.3.4 Commissioning
- 11.4.1 China
- 11.4.2 Japan
- 11.4.3 India
- 11.4.4 South Korea
- 11.4.5 Australia & NZ
- 11.4.6 ASEAN
- 11.4.7 Rest of Asia-Pacific
11.6 Regional Trends Analysis
11.7 Asia-Pacific Global Power Plant EPC Market Research Report - Company Profiles- 11.7.1 Company 1 (China)
- 11.7.2 Company 2 (Japan)
- 11.7.3 Company 3 (Japan)
- 12.1 By Fuel Type Analysis 2019 - 2023 and Forecast, 2024 - 2031 by Market Assessment (USD Mn), Yearly Growth Rate (%), and Market Presence (%)
- 12.1.1 Renewable Energy (Solar
- 12.1.2 Wind
- 12.1.3 Hydro
- 12.1.4 Biomass)
- 12.1.5 Fossil Fuels (Coal
- 12.1.6 Natural Gas
- 12.1.7 Oil)
- 12.1.8 Nuclear Energy
- 12.2.1 Combined Cycle Power Plants
- 12.2.2 Thermal Power Plants
- 12.2.3 Hydroelectric Power Plants
- 12.2.4 Wind Farms
- 12.2.5 Solar Power Plants
- 12.3.1 Design and Engineering
- 12.3.2 Procurement
- 12.3.3 Construction
- 12.3.4 Commissioning
- 12.4.1 Brazil
- 12.4.2 Mexico
- 12.4.3 Argentina
- 12.4.4 Peru
- 12.4.5 Colombia
- 12.4.6 Rest of Latin America
12.6 Regional Trends Analysis
12.7 Latin America Global Power Plant EPC Market Research Report - Company Profiles- 12.7.1 Company 1 (Brazil)
- 12.7.2 Company 2 (Mexico)
- 12.7.3 Company 3 (Mexico)
- 13.1 By Fuel Type Analysis 2019 - 2023 and Forecast, 2024 - 2031 by Market Assessment (USD Mn), Yearly Growth Rate (%), and Market Presence (%)
- 13.1.1 Renewable Energy (Solar
- 13.1.2 Wind
- 13.1.3 Hydro
- 13.1.4 Biomass)
- 13.1.5 Fossil Fuels (Coal
- 13.1.6 Natural Gas
- 13.1.7 Oil)
- 13.1.8 Nuclear Energy
- 13.2.1 Combined Cycle Power Plants
- 13.2.2 Thermal Power Plants
- 13.2.3 Hydroelectric Power Plants
- 13.2.4 Wind Farms
- 13.2.5 Solar Power Plants
- 13.3.1 Design and Engineering
- 13.3.2 Procurement
- 13.3.3 Construction
- 13.3.4 Commissioning
- 13.4.1 Saudi Arabia
- 13.4.2 UAE
- 13.4.3 South Africa
- 13.4.4 Egypt
- 13.4.5 Israel
- 13.4.6 Rest of Middle East and Africa
13.6 Regional Trends Analysis
13.7 Middle East & Africa Global Power Plant EPC Market Research Report - Company Profiles- 13.7.1 Company 1 (Saudi Arabia)
- 13.7.2 Company 2 (UAE)
- 13.7.3 Company 3 (UAE)
- 14.1 Strategic Dashboard of Top Market Players
14.2 Company Profiles (Introduction, Financial Assessments, Portfolio of Offerings, Milestones and Achievements, Strategic Initiative, and SWOT Analysis)- 14.2.1 Bechtel Corporation
- 14.2.2 Fluor Corporation
- 14.2.3 KBR Inc.
- 14.2.4 McDermott International Ltd.
- 14.2.5 Samsung Engineering Co. Ltd.
- 14.2.6 Hyundai Engineering & Construction Co. Ltd.
- 14.2.7 Toshiba Plant Systems & Services Corporation
- 14.2.8 Doosan Heavy Industries & Construction Co. Ltd.
- 14.2.9 Technip Energies
- 14.2.10 Larsen & Toubro Limited
16. Principal Presumptions and Acronyms