Market Size of Australia Power EPC Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | > 6.56 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Australia Power EPC Market Analysis
The Australian power EPC market is expected to witness a CAGR of around 6.56% during the forecast period of 2022-2027. The country was hit hard by the COVID-19 outbreak. Power EPC contractors in Australia faced disruption in the procurement of necessary equipment for projects like Neoen solar projects currently in the development phase due to the lockdown, which affected the scheduled commercial operations of the projects. Factors like favorable government schemes for small-scale solar power generation and upcoming large-scale solar power projects are expected to drive the market. Despite the presence of driving factors, the increasing share of alternative clean energy sources, hydro and wind power, and an expected delay in large-scale solar power projects are expected to restrain the growth of the market.
- Due to its high installation share, increasing renewable energy installations are expected to dominate the Australian power EPC market during the forecast period.
- According to the Australian Energy Market Operator, regions like Queensland and New South Wales are expected to witness significant growth in energy demand, creating opportunities in the energy market in the long run.
- An increase in thermal-based generation is expected to drive the growth of the Australian power EPC market during the forecast period.
