Market Size of United Arab Emirates Power EPC Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR (2024 - 2029) | > 6.20 % |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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UAE Power EPC Market Analysis
The United Arab Emirates Power EPC Market is expected to register a CAGR of greater than 6.20% during the forecast period(2024-2029).
The energy mix for electricity generation is dominated by fossil fuels like coal, oil, and natural gas, with the three constituting almost over 65% of the global energy mix. However, the lack of privatization in the power sector in the northern emirates is expected to restrain the development of the power sector in the coming years.
- The United Arab Emirates has one of the most advanced power sectors in the region, with distinct structures and government policies that are favorable. The country has several upcoming transmission and distribution network projects including expansion and refurbishment of existing infrastructure. This factor is expected to drive the T&D infrastructure-related markets in the coming years.
- The country has witnessed strong growth in electricity consumption at an annual rate of 5.5% over the past five years. The growing consumption is mainly driven by strong economic activity, rising population, infrastructure development, and industrialization. At the same time, the government is also committed to reducing the transmission and distribution losses by improving the efficiency of the grid.
- Nuclear and waste-to-energy projects are gradually gaining momentum in the country apart from solar power, which, in turn, is expected to create an ample opportunity for the power sector as new projects come online.
