Market Size of Mexico Power EPC Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | 3.50 % |
| Market Concentration | Medium |
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?
Mexico Power EPC Market Analysis
The Mexican power EPC market is expected to register a CAGR of more than 3.5% during the forecast period, 2022-2027. The COVID-19 pandemic has drastically impacted the Mexican power EPC market by creating supply chain bottlenecks and delays in constructing power projects like the solar photovoltaic (PV) project in Sonora, which led to an increase in the overall costs of the projects. Factors such as the increasing need for clean power and upcoming power generation projects, particularly going parallel with the pace of urbanization, are expected to drive the demand for Mexico's power EPC market during the forecast period. However, the government's intentions to reduce private investments and make the sector more state-owned can pose a significant threat to market growth during the forecast period.
- The thermal power generation segment is expected to witness significant growth during the forecast period due to the country's current plans to revive the fossil-fuel-based power sector.
- Emerging markets, including distributed power generation, smart grids, and energy storage in Mexico, are expected to create vital opportunities for the EPC players in the future.
- The new and upcoming transmission projects are expected to drive the Mexican power EPC market in the coming years.
Mexico Power EPC Industry Segmentation
The Mexican power EPC market report includes:
| Power Generation from Sources | |
| Thermal | |
| Hydropower | |
| Nuclear | |
| Non-hydro Renewables |
Mexico Power EPC Market Size Summary
The Mexican power EPC market is poised for growth, driven by the increasing demand for clean energy and the expansion of power generation projects in line with urbanization trends. Despite challenges posed by the COVID-19 pandemic, which caused supply chain disruptions and project delays, the market is expected to see a steady increase in activity. The government's focus on reviving the fossil-fuel-based power sector, particularly thermal power generation, is anticipated to bolster the market. However, the shift towards state-owned enterprises and reduced private investment could pose challenges to market expansion. Emerging opportunities in distributed power generation, smart grids, and energy storage are also expected to provide significant prospects for EPC players in Mexico.
The thermal power generation segment, which includes oil, coal, and natural gas-based plants, remains dominant in Mexico's energy landscape, accounting for a substantial portion of electricity generation. The government's recent energy policies favoring fossil fuel-based power plants are likely to sustain this dominance. Meanwhile, the transmission and distribution sector is undergoing significant developments, with plans to expand and modernize the national transmission network. Key projects, such as the construction of new transmission lines and the modernization of existing ones, are set to enhance the power infrastructure. These developments, coupled with ongoing thermal power EPC projects, are expected to drive the growth of the power EPC market in Mexico over the forecast period.
Mexico 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, until 2027
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1.3 Recent Trends and Developments
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1.4 Government Policies and Regulations
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1.5 Market Dynamics
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1.5.1 Drivers
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1.5.2 Restraints
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1.6 Supply Chain Analysis
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1.7 PESTLE Analysis
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2. MARKET SEGMENTATION
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2.1 Power Generation from Sources
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2.1.1 Thermal
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2.1.2 Hydropower
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2.1.3 Nuclear
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2.1.4 Non-hydro Renewables
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2.2 Power Transmission and Distribution (T&D)
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Mexico Power EPC Market Size FAQs
What is the current Mexico Power EPC Market size?
The Mexico Power EPC Market is projected to register a CAGR of greater than 3.5% during the forecast period (2024-2029)
Who are the key players in Mexico Power EPC Market?
Vestas Wind Systems A/S, SENER Engineering Group, Técnicas Reunidas, S.A., Siemens Gamesa Renewable Energy SA and Acciona, S.A. are the major companies operating in the Mexico Power EPC Market.
