Australia Power EPC Market Size (2024 - 2029)

Australia Power EPC Market Size Summary

The Australian power EPC market is poised for growth, driven by increasing renewable energy installations and supportive government policies. Despite challenges posed by the COVID-19 pandemic, which disrupted project timelines and procurement processes, the market is expected to benefit from favorable schemes for small-scale solar power generation and the development of large-scale solar projects. However, the market's expansion may be tempered by the growing share of alternative clean energy sources such as hydro and wind power, as well as potential delays in large-scale solar projects. The dominance of fossil fuels in power generation, particularly coal, is gradually decreasing, with the government introducing new power projects to enhance supply and reduce energy costs, thereby creating opportunities for EPC contracts.

Renewable energy, particularly solar PV, is expected to play a significant role in the Australian power EPC market's growth. The country's high solar radiation and per capita consumption of residential rooftop solar, coupled with leading solar PV technology, position it well for increased solar deployment. Notable projects, such as the Kaban Green Power Hub and various renewable energy parks, underscore the market's potential. The Australian power EPC market is moderately consolidated, with major players like Origin Energy Ltd and Stanwell Corporation Limited actively participating in renewable energy and transmission projects. The ongoing shift towards thermal-based generation, including gas-fired power stations, is anticipated to further drive market growth during the forecast period.