Market Size of Southeast Asia Power Generation EPC Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | > 7.00 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Southeast Asia Power Generation EPC Market Analysis
The Southeast Asian power generation EPC market is expected to register a CAGR of more than 7% during the forecast period, 2022-2027. The COVID-19 outbreak had a moderate impact on the power generation EPC market across the region, leading to delays in multiple power projects. Still, all the operations were resumed, augmenting the market size. Rapidly growing population and increasing power consumption are the key factors resulting in the growth of the power market. With soaring power demand, numerous new projects are under construction and planning stages, which, in turn, is expected to enhance the market share. In addition, the accelerating deployment of renewable energy sources on a large scale is expected to drive the EPC market across the region. However, low domestic investments and slow processing of tenders are likely to restrain the market growth during the forecast period.
- Favorable government policies and mandates toward the adoption of renewable energy sources and a rising focus on reducing carbon emissions across the region are expected to boost the renewable power generation EPC market at a significant rate.
- The energy demand in the Southeast Asian region is anticipated to grow by approximately two-thirds between 2019 and 2040, thereby leading to massive investment in new energy generation, distribution, and transmission, creating surplus market opportunities for the EPC market players in the coming years.
- Indonesia, the largest economy in Southeast Asia, witnessed the highest power generation in 2021. The nation is expected to dominate the power generation EPC market during the forecast period with planned projects.
