Market Size of Japan Power EPC Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | > 4.00 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Japan Power EPC Market Analysis
Japan's power EPC market is expected to register a CAGR of more than 4% during the forecast period.
In 2020, COVID-19 had a detrimental effect on the market. Presently, the market has reached pre-pandemic levels.
- Over the medium term, factors such as increased investment in renewable energy are likely to propel the demand for power EPC in the forecast period. Increased investment in smart grid deployment is anticipated to drive the power EPC market in the forecast period.
- On the other hand, the high volatility of fuel prices such as coal and gas is anticipated to restrain the Japan power EPC market during the forecast period.
- Nevertheless, digitalization in the electricity sector in Japan has witnessed significant growth in the last few years. Generation, distribution, consumption, and smart energy production are expected to undergo enormous revolutionary changes due to big data, IoT, cloud computing, and machine learning technologies, resulting in a stable and reliable power supply, which is likely to provide a significant opportunity for the power EPC contractors.
