Market Size of Myanmar Power Generation 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 | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Myanmar Power Generation EPC Market Analysis
The Burmese power generation EPC market is expected to record a CAGR of approximately 3.5% during the forecast period of 2020-2027. The COVID-19 pandemic had a significant negative impact on the market, with delays in projects like the 151.54 MW gas power plant project in Alone Township in Yangon. However, all the operations were resumed in no time, thus, augmenting the market size. Factors such as the increased industrial developments that are promoting foreign investments across the sectors and several government initiatives to provide electricity to all people in the country are likely to drive the Burmese power generation EPC market during the forecast period. However, the high inflation rate, environmental awareness, and slow processing of projects are expected to restrain the Burmese power generation EPC market.
On account of the upcoming projects, the hydropower sector is expected to see significant growth in the Burmese market during the forecast period.
The electrification rate in Myanmar is growing, and the government's goal is to increase capacity to 20,000 MW by 2030 from the current installed capacity of only 4,000 MW. This is expected to create opportunities for the market's growth during the forecast period.
Myanmar has a high potential for renewable energy. Increasing investment in the sector is expected to aid the growth in the market during the forecast period.
Myanmar Power Generation EPC Industry Segmentation
The Burmese power generation EPC market report includes:
| Source | |
| Conventional Thermal Power (Diesel, Gas, Coal) | |
| Hydropower | |
| Other Sources (Solar and Wind) |
Myanmar Power Generation EPC Market Size Summary
The Burmese power generation EPC market is poised for growth, driven by increased industrial developments and foreign investments, alongside government initiatives aimed at expanding electricity access across the country. Despite challenges such as high inflation, environmental concerns, and slow project processing, the market is expected to benefit from the government's ambitious electrification goals and the potential for renewable energy expansion. The hydropower sector, in particular, is anticipated to experience significant growth due to numerous upcoming projects and strategic government efforts to enhance hydropower capacity. The construction of new dams and the compensation plans for affected communities are expected to further bolster the market's expansion.
The government's commitment to increasing the country's energy capacity and securing a portion of primary energy from renewable sources is expected to provide a substantial boost to the power generation EPC market. With a focus on upgrading existing facilities and developing new projects, such as the Yeywva hydropower project and the Ywama gas-fired power plant, Myanmar is set to enhance its energy infrastructure. The involvement of key players and international partnerships, along with financial support from entities like the World Bank, underscores the market's potential for substantial growth. As the country strives to meet its electricity demand and improve energy efficiency, the power generation EPC market is likely to see continued development and investment.
Myanmar Power Generation 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 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 Source
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2.1.1 Conventional Thermal Power (Diesel, Gas, Coal)
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2.1.2 Hydropower
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2.1.3 Other Sources (Solar and Wind)
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Myanmar Power Generation EPC Market Size FAQs
What is the current Myanmar Power Generation EPC Market size?
The Myanmar Power Generation 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 Myanmar Power Generation EPC Market?
TTCL Public Company Limited, Snowy Mountains Engineering Corporation Holdings Limited, EAM Myanmar Ltd., Zeya & Associates Co. Ltd. and Parami Energy Group of Companies are the major companies operating in the Myanmar Power Generation EPC Market.
