Market Size of China Power EPC Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | 4.00 % |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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China Power EPC Market Analysis
The Chinese power EPC market is expected to register a CAGR of over 4% during the forecast period, 2020-2025. Factors, such as the increasing industrialization and urbanization, along with the growing manufacturing sector, are likely to drive the Chinese power EPC market. However, the less private companies in the power sector create dominance of government companies in the country, which is expected to slow down the Chinese power EPC market.
- The conventional thermal segment due to the increasing installation of new coal-based power plants was expected to dominate the market studied, in 2019.
- The Chinese government has announced to increase its renewable contribution in the power sector to 35% by installing more hydro, solar, and wind power by 2030. This is likely to create several opportunities for the Chinese power EPC market in the forecast period.
- China, due to its increasing population and energy demand, has several upcoming and ongoing power projects that are likely to drive the Chinese power EPC market.
