Market Size of Myanmar Power Generation 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 | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Myanmar Power Generation EPC Market Analysis
The Burmese power generation EPC market is expected to record a CAGR of approximately 3.5% during the forecast period of 2020-2027. The COVID-19 pandemic had a significant negative impact on the market, with delays in projects like the 151.54 MW gas power plant project in Alone Township in Yangon. However, all the operations were resumed in no time, thus, augmenting the market size. Factors such as the increased industrial developments that are promoting foreign investments across the sectors and several government initiatives to provide electricity to all people in the country are likely to drive the Burmese power generation EPC market during the forecast period. However, the high inflation rate, environmental awareness, and slow processing of projects are expected to restrain the Burmese power generation EPC market.
On account of the upcoming projects, the hydropower sector is expected to see significant growth in the Burmese market during the forecast period.
The electrification rate in Myanmar is growing, and the government's goal is to increase capacity to 20,000 MW by 2030 from the current installed capacity of only 4,000 MW. This is expected to create opportunities for the market's growth during the forecast period.
Myanmar has a high potential for renewable energy. Increasing investment in the sector is expected to aid the growth in the market during the forecast period.
