Australia Power EPC Market Trends

Statistics for the 2023 & 2024 Australia Power EPC market trends, created by Mordor Intelligence™ Industry Reports. Australia Power EPC trend report includes a market forecast to 2029 and historical overview. Get a sample of this industry trends analysis as a free report PDF download.

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Single User License

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Team License

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Corporate License

$8750

Book before:

Market Trends of Australia Power EPC Industry

This section covers the major market trends shaping the Australia Power EPC Market according to our research experts:

Increasing Renewable Energy Installations are Expected to Dominate the Market

  • Australia has one of the highest average solar radiation per square meter, one of the highest per capita consumption of residential rooftop solar, and leading solar PV technology in the world but still lags behind the rest of the world in terms of mid-scale and large-scale solar developments.
  • In 2020, Australia's renewable energy installed capacity stood at 6,710 MW. The share of solar stood at around 35.8% of the total renewable electricity generation. Therefore, the country is expected to witness the increasing deployment of solar PV, which leads to an increase in power EPC contracts in the region.
  • In May 2021, Vestas won a 157 MW order from Neoen to deliver the engineering, procurement, and construction (EPC) of Kaban Green Power Hub in Far North Queensland, Australia. The wind power project will feature 28 Vestas V162-5.6 MW turbines from the EnVentus platform.
  • Moreover, in May 2020, Sterling and Wilson Solar (SWSL), along with its Australian subsidiary, secured an engineering, procurement, and construction (EPC) contract valued at USD 525 million to build a renewable energy park in Australia.
  • The country has seen significant growth in renewable energy installations due to the above points. This further culminates in the improvement of the Australian power EPC market.
Australia Power EPC Market-Total Renewable Energy Installed Capacity

Increase in Thermal-based Generation May Drive the Market

  • Power generation in Australia is dominated by fossil fuels, including oil, gas, and coal. In 2020, coal was dominating power generation. However, the country is continuously decreasing the share of coal in power generation.
  • Additionally, coal plants, which are the primary source of electricity generation in Australia, accounted for around 54% of electricity generation in 2020.
  • In 2020, the government announced 12 new power projects, including natural gas, pumped hydropower, and one coal-fired plant, to increase power supply and bring down energy prices. The projects are expected to boost the EPC contracts in the future significantly.
  • In January 2020, the government announced its plan to underwrite two gas power plants: APA Group's proposed 220MW generator in Dandenong, Victoria, and Quinbrook's proposed 132MW facility in Gatton, Queensland.
  • Moreover, Energy Australia is planning to construct a gas-fired power station, Marulan Power Station, at Marulan near Goulburn in New South Wales. The project is likely to increase EPC contracts in the coming years.
  • Owing to the above points, the increase in therma- based power generation may lead to the growth of the Australian power EPC market during the forecast period.
Australia Power EPC Market-Distribution of Electricity Generation

Australia Power EPC Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)