Market Size of Mexico Power EPC Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | > 3.50 % |
| 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?
Mexico Power EPC Market Analysis
The Mexican power EPC market is expected to register a CAGR of more than 3.5% during the forecast period, 2022-2027. The COVID-19 pandemic has drastically impacted the Mexican power EPC market by creating supply chain bottlenecks and delays in constructing power projects like the solar photovoltaic (PV) project in Sonora, which led to an increase in the overall costs of the projects. Factors such as the increasing need for clean power and upcoming power generation projects, particularly going parallel with the pace of urbanization, are expected to drive the demand for Mexico's power EPC market during the forecast period. However, the government's intentions to reduce private investments and make the sector more state-owned can pose a significant threat to market growth during the forecast period.
- The thermal power generation segment is expected to witness significant growth during the forecast period due to the country's current plans to revive the fossil-fuel-based power sector.
- Emerging markets, including distributed power generation, smart grids, and energy storage in Mexico, are expected to create vital opportunities for the EPC players in the future.
- The new and upcoming transmission projects are expected to drive the Mexican power EPC market in the coming years.
