Power EPC Global Market Report 2026

Power engineering, procurement, and construction (EPC) is a service model utilized for the development of power generation projects, encompassing the design, procurement of equipment, and construction of facilities. This model provides a comprehensive solution that manages all project aspects from inception to completion, ensuring streamlined execution, adherence to timelines, and optimization of resources for efficient power plant operations.

The primary types of power engineering, procurement, and construction (EPC) include thermal power sources, combined cycle power sources, gas-based sources, nuclear power sources, renewable energy sources, and others. Thermal power sources involve generating electricity by converting heat energy into electrical power, commonly serving as baseload generation to provide a consistent and reliable electricity supply to meet continuous energy demands. The key equipment involved includes gas turbines, steam turbines, boilers, generators, control systems, and more. These components are applied across various applications, including power generation, transmission, and distribution, among others.

Note that the outlook for this market is being affected by rapid changes in trade relations and tariffs globally. The report will be updated prior to delivery to reflect the latest status, including revised forecasts and quantified impact analysis. The report's Recommendations and Conclusions sections will be updated to give strategies for entities dealing with the fast-moving international environment.

Tariffs are impacting the power EPC market by increasing costs of imported turbines, generators, transformers, control systems, and structural components required for large-scale power projects. EPC contractors in North America and Europe are most affected due to cross-border equipment sourcing, while Asia-Pacific faces cost pressures on export-driven EPC execution. These tariffs are increasing project budgets and affecting bid competitiveness. However, they are also driving localization of equipment sourcing, regional supplier partnerships, and development of domestic EPC capabilities for long-term project resilience.

The power epc market research report is one of a series of new reports from The Business Research Company that provides power epc market statistics, including power epc industry global market size, regional shares, competitors with a power epc market share, detailed power epc market segments, market trends and opportunities, and any further data you may need to thrive in the power epc industry. This power epc market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The power epc market size has grown strongly in recent years. It will grow from $741.23 billion in 2025 to $784.23 billion in 2026 at a compound annual growth rate (CAGR) of 5.8%. The growth in the historic period can be attributed to expansion of power generation capacity, growth in utility-scale power projects, increasing reliance on turnkey engineering services, availability of large-scale power equipment, rising investments in transmission infrastructure.

The power epc market size is expected to see strong growth in the next few years. It will grow to $978.84 billion in 2030 at a compound annual growth rate (CAGR) of 5.7%. The growth in the forecast period can be attributed to increasing renewable energy installations, rising demand for grid modernization projects, expansion of hybrid power systems, growing adoption of modular power plant designs, increasing use of digital twins in power construction. Major trends in the forecast period include increasing adoption of integrated epc project delivery models, rising demand for renewable power epc services, growing use of digital project management platforms, expansion of turnkey power infrastructure projects, enhanced focus on cost and timeline optimization.

The increasing demand for energy is expected to drive growth in the power engineering, procurement, and construction (EPC) market in the foreseeable future. This rising energy demand stems from several factors, including a growing global population, rapid industrialization, urbanization, technological advancements, and improved living standards, all contributing to heightened energy consumption across residential, commercial, and industrial sectors. Power EPC services are essential in the energy sector for the efficient design, construction, and management of large-scale power generation and distribution projects. For instance, in July 2024, the International Energy Agency, a France-based intergovernmental organization, projected that global electricity demand would grow by approximately 4% in 2024, an increase from 2.5% in 2023. Additionally, global electricity supply is anticipated to rise from 30% in 2023 to 35% in 2025. Therefore, the increasing demand for energy is propelling the growth of the power EPC market.

Major companies operating in the power EPC market are focusing on developing advanced solutions, such as integrated renewable energy project execution, to enhance the reliability and scalability of clean power infrastructure. Integrated renewable energy project execution combines engineering, procurement, construction, and long-term operations to deliver grid-connected renewable assets that support energy security and sustainable development. For instance, in June 2025, Datta Power Infra Private Limited, an India-based company, launched Power Sprout Solutions, its dedicated EPC arm, offering end-to-end execution capabilities across solar, wind, hybrid, and round-the-clock energy projects. The launch followed the successful commissioning of two 2.52 MW AC ground-mounted solar projects in Rajasthan under the PM KUSUM scheme, delivering a total capacity of 5.04 MW AC with power supplied directly to the local state grid substation, supporting uninterrupted irrigation for farmers, managing an EPC order book of 600 MW with over 200 employees, planning the commissioning of an additional 43 MW of solar capacity and the construction of 120 MW of wind projects, and providing operations and maintenance services for 25 years as part of its renewable power EPC portfolio.

In November 2025, Mars Energy Group, a US-based renewable energy holding company, acquired Nelnet Renewable Energy from Nelnet Inc. for an undisclosed amount. Through this acquisition, Mars Energy aimed to enhance its project delivery capabilities and strengthen its presence in the Midwest solar market, expanding its footprint across both commercial and utility-scale solar projects. Nelnet Inc. is a US-based provider of engineering, procurement, and construction (EPC) services, as well as solar development solutions for commercial and utility-scale solar projects.

Major companies operating in the power epc market are PowerChina, Mitsubishi Heavy Industries Ltd, Siemens Energy AG, Larsen & Toubro Limited, Bechtel Corporation, Jacobs Solutions Inc., Fluor Corporation, Doosan Enerbility Co. Ltd., Worley Limited, KBR Inc., Technip Energies, JGC Holdings Corporation, Black & Veatch, Tata Projects, Babcock & Wilcox Enterprises Inc, Saipem SpA, McDermott International Inc, SNC-Lavalin Group Inc, Chiyoda Corporation, Hyundai Engineering & Construction Co. Ltd

Asia-Pacific was the largest region in the power EPC market in 2025 and it is expected to be the fastest-growing region in the forecast period. The regions covered in the power epc market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the power epc market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain

The power engineering, procurement, and construction (EPC) market includes revenues earned by entities by providing services such as sourcing and purchasing equipment, managing and executing the construction of power plants, and finalizing and starting up the power plant. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

Power EPC Market Global Report 2026 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses power epc market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

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Where is the largest and fastest growing market for power epc ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward, including technological disruption, regulatory shifts, and changing consumer preferences? The power epc market global report from the Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, total addressable market (TAM), market attractiveness score (MAS), competitive landscape, market shares, company scoring matrix, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

• The market characteristics section of the report defines and explains the market. This section also examines key products and services offered in the market, evaluates brand-level differentiation, compares product features, and highlights major innovation and product development trends.
• The supply chain analysis section provides an overview of the entire value chain, including key raw materials, resources, and supplier analysis. It also provides a list competitor at each level of the supply chain.
• The updated trends and strategies section analyses the shape of the market as it evolves and highlights emerging technology trends such as digital transformation, automation, sustainability initiatives, and AI-driven innovation. It suggests how companies can leverage these advancements to strengthen their market position and achieve competitive differentiation.
• The regulatory and investment landscape section provides an overview of the key regulatory frameworks, regularity bodies, associations, and government policies influencing the market. It also examines major investment flows, incentives, and funding trends shaping industry growth and innovation.
• The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
• The forecasts are made after considering the major factors currently impacting the market. These include the technological advancements such as AI and automation, Russia-Ukraine war, trade tariffs (government-imposed import/export duties), elevated inflation and interest rates.
• The total addressable market (TAM) analysis section defines and estimates the market potential compares it with the current market size, and provides strategic insights and growth opportunities based on this evaluation.
• The market attractiveness scoring section evaluates the market based on a quantitative scoring framework that considers growth potential, competitive dynamics, strategic fit, and risk profile. It also provides interpretive insights and strategic implications for decision-makers.
• Market segmentations break down the market into sub markets.
• The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth.
• Expanded geographical coverage includes Taiwan and Southeast Asia, reflecting recent supply chain realignments and manufacturing shifts in the region. This section analyzes how these markets are becoming increasingly important hubs in the global value chain.
• The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
• The company scoring matrix section evaluates and ranks leading companies based on a multi-parameter framework that includes market share or revenues, product innovation, and brand recognition.

Scope

• Markets Covered:1) By Type: Thermal Power Source; Combined Cycle Power Source; Gas Based; Nuclear Power Source; Renewable; Other Types
• 2) By Equipment: Gas Turbines; Steam Turbines; Bailors; Generators; Control Systems; Other Equipment
• 3) By Application: Power Generation; Power Transmission And Distribution; Other Applications
• Subsegments:
• 1) By Thermal Power Source: Coal-Fired Power Plants; Natural Gas Power Plants; Oil-Fired Power Plants
• 2) By Combined Cycle Power Source: Natural Gas Combined Cycle (NGCC); Integrated Gasification Combined Cycle (IGCC)
• 3) By Gas-Based: Open Cycle Gas Turbine (OCGT); Gas Engine Power Plants
• 4) By Nuclear Power Source: Pressurized Water Reactors (Pwr); Boiling Water Reactors (Bwr); Small Modular Reactors (Smr)
• 5) By Renewable: Solar Power Plants; Wind Power Plants; Hydropower Plants; Geothermal Power Plants; Biomass Power Plants
• 6) By Other Types: Hydrogen Power Systems; Waste-To-Energy Plants
• Companies Mentioned: PowerChina; Mitsubishi Heavy Industries Ltd; Siemens Energy AG; Larsen & Toubro Limited; Bechtel Corporation; Jacobs Solutions Inc.; Fluor Corporation; Doosan Enerbility Co. Ltd.; Worley Limited; KBR Inc.; Technip Energies; JGC Holdings Corporation; Black & Veatch; Tata Projects; Babcock & Wilcox Enterprises Inc; Saipem SpA; McDermott International Inc; SNC-Lavalin Group Inc; Chiyoda Corporation; Hyundai Engineering & Construction Co. Ltd
• Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Taiwan; Russia; South Korea; UK; USA; Canada; Italy; Spain
• Regions: Asia-Pacific; South East Asia; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
• Time Series: Five years historic and ten years forecast.
• Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
• Data Segmentations: country and regional historic and forecast data, market share of competitors, market segments.
• Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
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