Malaysia Power EPC Market Size (2024 - 2029)

The power EPC market in Malaysia is poised for growth, driven by the country's commitment to enhancing its power generation infrastructure, particularly through renewable energy sources. Despite the historical dominance of thermal sources, the market is expected to expand due to government initiatives promoting public-private partnerships and private financing in renewables, alongside regional grid connectivity efforts. The renewable energy sector is anticipated to experience the most rapid growth, supported by favorable policies aimed at increasing its market share. However, challenges such as rising fuel costs for the power sector may impact the market's expansion.

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Market Size of Malaysia Power EPC Industry

Malaysia Power EPC Market - Market Summary
Study Period 2020 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2020 - 2022
CAGR 4.00 %
Market Concentration Low

Major Players

Malaysia Power EPC Market Major Players

*Disclaimer: Major Players sorted in no particular order

Malaysia Power EPC Market Analysis

The Malaysia power EPC market is expected to grow at a CAGR of over 4% during the forecast period. Malaysia's power generation infrastructure has been dominated by thermal sources, despite the positive growth potential for renewables, in the market. More than 80% of the electricity generation in the country came from thermal stations, in 2018. Committed generation and transmission projects in Peninsular Malaysia, increasing government measures to increase public-private partnership and private financing in the renewable energy sector, along with regional grid connectivity under the ASEAN Power Grid, are the major drivers that are expected to propel the power EPC market in the country. However, increasing price of fuel for the power sector is likely to remain one of the major challenges for the Malaysian power industry, in the years ahead.

  • The renewable energy sector is expected to be the fastest-growing market, due to a significant growth in the coming years owing to the country's efforts and favorable government policies to encourage the increase in the share of renewable energy sources in the energy mix.
  • Large-scale solar photovoltaic plants is expected to create significant opportunities for the power EPC market in the future.

Malaysia Power EPC Industry Segmentation

The Malaysia power EPC market report include:

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Malaysia Power EPC Market Size Summary

The power EPC market in Malaysia is poised for growth, driven by a combination of government initiatives and infrastructural developments. Despite the dominance of thermal power sources in the country's electricity generation, there is a significant shift towards renewable energy, supported by public-private partnerships and regional grid connectivity under the ASEAN Power Grid. The Malaysian government is actively promoting the integration of renewable energy into the national grid, with policies aimed at increasing the share of renewables in the energy mix. This transition is expected to be bolstered by large-scale solar photovoltaic projects, which are anticipated to offer substantial opportunities for the power EPC sector. However, the rising cost of fuel remains a challenge for the industry, potentially impacting the pace of growth.

The Malaysian energy sector is crucial to the country's industrialized economy, and the government's commitment to energy efficiency and renewable energy penetration is evident through various initiatives. The Energy Commission of Malaysia plays a pivotal role in regulating and enhancing the efficiency of the energy industry. The country's focus on replacing fossil fuels with renewable sources is part of a broader strategy to reduce greenhouse gas emissions. The biomass sector, leveraging Malaysia's abundant agricultural and forestry by-products, is identified as a key contributor to the renewable energy target. Programs like the Enhanced Net Energy Metering and Large Scale Solar competitive bidding are designed to drive renewable energy adoption. These efforts, coupled with significant investments in solar PV and biomass, are expected to propel the power EPC market forward, with major companies like General Electric, Poyry PLC, and Tenaga Nasional Bhd playing significant roles in this transformation.

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Malaysia Power EPC Market Size - Table of Contents

  1. 1. MARKET OVERVIEW

    1. 1.1 Introduction

    2. 1.2 Installed Power Capacity and Forecast in MW, 2018-2025

    3. 1.3 Recent Trends and Developments

    4. 1.4 Government Policies and Regulations

    5. 1.5 Market Dynamics

      1. 1.5.1 Drivers

      2. 1.5.2 Restraints

    6. 1.6 Supply Chain Analysis

    7. 1.7 PESTLE Analysis

Malaysia Power EPC Market Size FAQs

The Malaysia Power EPC Market is projected to register a CAGR of greater than 4% during the forecast period (2024-2029)

Jacobs Engineering Group Inc., Poyry PLC, IHI Corporation and Sumitomo Corporation are the major companies operating in the Malaysia Power EPC Market.

Power EPC Market in Malaysia Report Snapshots

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