Market Size of Vietnam Power Generation EPC Industry
| Study Period | 2021 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2021 - 2022 |
| CAGR | > 3.00 % |
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?
Vietnam Power Generation EPC Market Analysis
The Vietnamese power generation engineering, procurement, and construction (EPC) market is expected to register a CAGR of over 3% during the forecast period.
The market was negatively impacted by COVID-19 in 2020. Presently, the market has reached pre-pandemic levels.
- Over the medium term, factors such as the increasing electricity generation and energy consumption demand and investments in the power sector, including increased government spending on renewable energy, are expected to boost the market.
- On the other hand, the phasing out of coal-based power plants, which account for a significant share in power generation globally, and volatile crude oil prices leading to delays in several upstream projects are expected to hinder the growth of the Vietnamese power EPC market.
- Nevertheless, the Vietnamese government has planned to meet 10% of its energy demand from renewable by 2030, which is expected to create several opportunities for the power EPC market in the future.
