Market Size of Germany Power EPC Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 6.00 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Germany Power EPC Market Analysis
The Germany Power EPC Market is expected to register a CAGR of over 6% during the forecast period.
In 2020, COVID-19 negatively impacted the market. Presently, the market has reached pre-pandemic levels.
- Over the medium term, the increasing degree of urbanization and increasing power demand are expected to drive the market.
- On the other hand, the phasing out of coal-based power plants, which account for a major share of power generation, is expected to hinder the growth of the power market.
- Nevertheless, the ambitious goals set by the Federal Government in Germany for reducing their carbon emissions are expected to create enormous opportunities in the renewable energy segment for the Germany Power EPC Market.
Germany Power EPC Industry Segmentation
EPC stands for engineering, procurement, and construction. The basic concept of an EPC or turn-key power plant is that a single contractor takes on the complete responsibility of designing, procuring, installing, and commissioning the project.
Germany's power EPC market is segmented by power generation and power transmission and distribution (T&D). By power generation, the market is segmented into thermal, hydroelectric, nuclear, and renewables. For power transmission and distribution (T&D), only qualitative analysis is provided. The report offers the market size and forecasts for the Germany power EPC market in terms of revenue (USD billion) for all the above segments.
| Power Generation | |
| Thermal | |
| Hydroelectric | |
| Nuclear | |
| Renewables |
Germany Power EPC Market Size Summary
The Germany Power EPC Market is poised for growth, driven by increasing urbanization and rising power demand. The market has rebounded to pre-pandemic levels after the setbacks caused by COVID-19. However, the transition away from coal-based power generation presents a challenge to market expansion. Despite this, Germany's commitment to reducing carbon emissions is expected to open significant opportunities in the renewable energy sector. As one of Europe's largest energy consumers, Germany is actively increasing its renewable energy capacity, aligning with government goals to enhance the share of renewables in electricity production. This shift is supported by substantial investments in solar, onshore, and offshore wind projects, positioning Germany as a leading market for solar and wind EPC services.
The power EPC market in Germany is further bolstered by favorable government policies aimed at expanding power generation capacity and reducing reliance on coal and natural gas. The country's electricity demand has seen a notable increase, prompting initiatives like the "Solarcity Master Plan" to boost solar energy deployment. In response to geopolitical tensions, such as the Russian invasion of Ukraine, Germany has accelerated its renewable energy targets, launching tenders to expand solar energy capacity. Large-scale wind and solar projects are underway, with German power EPC companies at the forefront. The market is moderately fragmented, with key players including Fluor Ltd, McDermott International Inc., and General Electric Company, among others, contributing to the dynamic landscape of the Germany Power EPC Market.
Germany Power EPC Market Size - Table of Contents
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1. MARKET OVERVIEW
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1.1 Introduction
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1.2 Market Size and Demand Forecast in USD billion, till 2028
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1.3 Installed Capacity and Forecast in GW, until 2028
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1.4 Recent Trends and Developments
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1.5 Government Policies and Regulations
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1.6 Market Dynamics
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1.6.1 Drivers
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1.6.2 Restraints
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1.7 Supply Chain Analysis
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1.8 PESTLE Analysis
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2. MARKET SEGMENTATION
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2.1 Power Generation
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2.1.1 Thermal
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2.1.2 Hydroelectric
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2.1.3 Nuclear
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2.1.4 Renewables
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2.2 Power Transmission and Distribution (T&D) - (Qualitative Analysis Only)
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Germany Power EPC Market Size FAQs
What is the current Germany Power EPC Market size?
The Germany Power EPC Market is projected to register a CAGR of greater than 6% during the forecast period (2024-2029)
Who are the key players in Germany Power EPC Market?
Fluor Ltd, McDermott International Inc., Wärtsilä Oyj Abp, EPC Engineering & Technologies GmbH and General Electric Company are the major companies operating in the Germany Power EPC Market.
