Southeast Asia Power Generation EPC Market Size (2024 - 2029)

The Southeast Asian power generation EPC market is poised for significant growth, driven by factors such as a rapidly increasing population and rising power consumption. Despite the moderate impact of the COVID-19 pandemic, which caused delays in some projects, the market size has been bolstered by the resumption of operations and the ongoing construction and planning of new projects. The shift towards renewable energy, supported by favorable government policies and a focus on reducing carbon emissions, is expected to further enhance the market share. However, challenges such as low domestic investments and slow tender processing may hinder growth. The region's energy demand is projected to surge, creating substantial opportunities for market players, with Indonesia anticipated to lead in power generation activities.

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Market Size of Southeast Asia Power Generation EPC Industry

Southeast Asia Power Generation EPC Market - Market Summary
Study Period 2020 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2020 - 2022
CAGR 7.00 %
Market Concentration Low

Major Players

Southeast Asia Power Generation EPC Market Major Players

*Disclaimer: Major Players sorted in no particular order

Southeast Asia Power Generation EPC Market Analysis

The Southeast Asian power generation EPC market is expected to register a CAGR of more than 7% during the forecast period, 2022-2027. The COVID-19 outbreak had a moderate impact on the power generation EPC market across the region, leading to delays in multiple power projects. Still, all the operations were resumed, augmenting the market size. Rapidly growing population and increasing power consumption are the key factors resulting in the growth of the power market. With soaring power demand, numerous new projects are under construction and planning stages, which, in turn, is expected to enhance the market share. In addition, the accelerating deployment of renewable energy sources on a large scale is expected to drive the EPC market across the region. However, low domestic investments and slow processing of tenders are likely to restrain the market growth during the forecast period.

  • Favorable government policies and mandates toward the adoption of renewable energy sources and a rising focus on reducing carbon emissions across the region are expected to boost the renewable power generation EPC market at a significant rate.
  • The energy demand in the Southeast Asian region is anticipated to grow by approximately two-thirds between 2019 and 2040, thereby leading to massive investment in new energy generation, distribution, and transmission, creating surplus market opportunities for the EPC market players in the coming years.
  • Indonesia, the largest economy in Southeast Asia, witnessed the highest power generation in 2021. The nation is expected to dominate the power generation EPC market during the forecast period with planned projects.

Southeast Asia Power Generation EPC Industry Segmentation

The Southeast Asian power generation EPC market report includes:

Source
Conventional Thermal Power
Renewables Power
Nuclear Power
Geography
Indonesia
Thailand
Malaysia
Vietnam
Philippines
Rest of Southeast Asia
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Southeast Asia Power Generation EPC Market Size Summary

The Southeast Asian power generation EPC market is poised for significant growth, driven by a rapidly increasing population and rising power consumption. The market is experiencing a surge in new projects, particularly in renewable energy, which is expected to enhance its market share. Despite the moderate impact of the COVID-19 pandemic, operations have resumed, contributing to the market's expansion. However, challenges such as low domestic investments and slow tender processing may hinder growth. Government policies favoring renewable energy adoption and carbon emission reduction are anticipated to further boost the market, creating substantial opportunities for EPC players in the region.

Indonesia, as the largest economy in Southeast Asia, is expected to lead the power generation EPC market, with numerous planned projects. The country's energy sector remains heavily reliant on fossil fuels, but there is a growing trend towards renewable energy investments. The Indonesian government's Electricity Procurement Plan aims to significantly increase solar energy capacity, which is expected to enhance the market's renewable sector share. Similarly, other Southeast Asian countries like Vietnam and Thailand are making strides in renewable energy, with ambitious targets and projects underway. These developments are set to drive the EPC market, with a notable focus on renewable power sources during the forecast period.

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Southeast Asia Power Generation EPC Market Size - Table of Contents

  1. 1. MARKET OVERVIEW

    1. 1.1 Introduction

    2. 1.2 Market Size and Demand Forecast in USD billion, till 2027

    3. 1.3 Electricity Generation in Terawatt-hours, by Major Countries, Southeast Asia, till 2020

    4. 1.4 Recent Trends and Developments

    5. 1.5 Government Policies and Regulations

    6. 1.6 Market Dynamics

      1. 1.6.1 Drivers

      2. 1.6.2 Restraints

    7. 1.7 Supply Chain Analysis

    8. 1.8 Porter's Five Forces Analysis

      1. 1.8.1 Bargaining Power of Suppliers

      2. 1.8.2 Bargaining Power of Consumers

      3. 1.8.3 Threat of New Entrants

      4. 1.8.4 Threat of Substitutes Products and Services

      5. 1.8.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION

    1. 2.1 Source

      1. 2.1.1 Conventional Thermal Power

      2. 2.1.2 Renewables Power

      3. 2.1.3 Nuclear Power

    2. 2.2 Geography

      1. 2.2.1 Indonesia

      2. 2.2.2 Thailand

      3. 2.2.3 Malaysia

      4. 2.2.4 Vietnam

      5. 2.2.5 Philippines

      6. 2.2.6 Rest of Southeast Asia

Southeast Asia Power Generation EPC Market Size FAQs

The Southeast Asia Power Generation EPC Market is projected to register a CAGR of greater than 7% during the forecast period (2024-2029)

Sumitomo Corporation , Poyry PLC , Indika Energy , Mitsubishi Heavy Industries, Ltd. and Hyundai Engineering Co., Ltd. are the major companies operating in the Southeast Asia Power Generation EPC Market.

Southeast Asian Power Generation EPC Market Report Snapshots

Southeast Asian Power Generation EPC Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)