Reports
Sale
North America Power EPC Market Size, Share, Growth, Analysis: By Type: Thermal, Oil and Gas, Renewable, Nuclear, Others; Regional Analysis; Market Dynamics: SWOT Analysis, Porter’s Five Forces Analysis, Key Indicators of Demand, Key Indicators of Price; Competitive Landscape; Key Trends and Developments in the Market; 2024-2032
North America Power EPC Market Outlook
The North America power EPC market size was valued at USD 145.73 billion in 2023. The market is further projected to grow at a CAGR of 3.6% between 2024 and 2032, reaching a value of USD 201.85 billion by 2032.
Key Takeaways
- The North America power EPC market share is expected to increase due to increasing demand for renewable energy sources and the need for efficient and reliable power infrastructure.
- As per industry reports, the focus of market players is on capitalising on the growing demand for electricity, increasing investments in the renewable energy sector, and the need for modernising the existing power infrastructure.
- Prominent players in the market are Doosan Heavy Industries and Construction, TATA Project, Thermax Global, Worley Ltd., China Energy Engineering Corporation, and Bharat Heavy Electricals Ltd.
The demand for renewable energy is increasing in North America, driven by the need to reduce carbon emissions and address climate change. This trend is expected to drive the North America power EPC market growth, as companies are investing in renewable energy projects such as wind and solar farms. ABB secured orders over USD 150 million for the Hornsea Project Two, a 1,400 MW project in the North Sea, will provide clean electricity for over 1.3 million homes annually, supporting the UK's renewable energy goals.
The existing power infrastructure in North America is ageing, and there is a need to modernise it to ensure reliable and efficient power supply. In the power EPC market, companies are investing in upgrading and expanding the existing power infrastructure.
The transmission and distribution networks are critical components of the power infrastructure, and there is a growing need to invest in these networks to ensure reliable and efficient power supply. Companies, such as Siemens AG has been involved in several transmission and distribution network projects in North America, including investment of USD 150 million in February 2024 to address the national shortage of power transformers across the U.S. This investment will increase domestic U.S. transformer production, enabling the reliable transmission of electricity over long distances and helping stabilise electrical transmission across regions.
As per North America power EPC market analysis, digital solutions such as advanced analytics, artificial intelligence, and machine learning are becoming increasingly important in the power EPC market. These solutions can help improve the efficiency and reliability of power generation and distribution and reduce costs. Companies are investing in digital solutions to improve their operations. Sterling and Wilson Private Limited has developed an AI-based predictive maintenance solution for power generation and distribution, which can help reduce downtime and maintenance costs.
Market Segmentation
North America Power EPC Market Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments
Market Breakup by Type
- Thermal
- Oil and Gas
- Renewable
- Nuclear
- Others
Market Breakup by Region
- United States of America
- Canada
Competitive Landscape
Market players are actively involved in expanding their market reach through strategic agreements and offerings of additional services like energy storage integration and O&M solutions.
- Mitsubishi Heavy Industries, Ltd.
- McDermott International Ltd.
- Fluor Corporation
- Bechtel Corporation
- DEPCOM Power, Inc.
- Blue Ridge Power
- Blattner Energy Inc.
- Quanta Services, Inc.
- The Shaw Group Inc.
- Sentry Electrical Group, Inc.
- Others
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
|
| Breakup by Type |
|
| Breakup by Region |
|
| Market Dynamics |
|
| Competitive Landscape |
|
| Companies Covered |
|
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
7 Opportunities and Challenges in the Market
8 Global Power EPC Market Overview
8.1 Key Industry Highlights
8.2 Global Power EPC Historical Market (2018-2023)
8.3 Global Power EPC Market Forecast (2024-2032)
8.4 Global Power EPC Market Share by Region
8.4.1 North America
8.4.2 Europe
8.4.3 Asia Pacific
8.4.4 Latin America
8.4.5 Middle East and Africa
9 North America Power EPC Market Overview
9.1 Key Industry Highlights
9.2 North America Power EPC Historical Market (2018-2023)
9.3 North America Power EPC Market Forecast (2024-2032)
10 North America Power EPC Market by Type
10.1 Thermal
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Oil and Gas
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 Renewable
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Nuclear
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Others
11 North America Power EPC Market by Country
11.1 United States of America
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Canada
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
12 Market Dynamics
12.1 SWOT Analysis
12.1.1 Strengths
12.1.2 Weaknesses
12.1.3 Opportunities
12.1.4 Threats
12.2 Porter’s Five Forces Analysis
12.2.1 Supplier’s Power
12.2.2 Buyer’s Power
12.2.3 Threat of New Entrants
12.2.4 Degree of Rivalry
12.2.5 Threat of Substitutes
12.3 Key Indicators of Demand
12.4 Key Indicators of Price
13 Competitive Landscape
13.1 Market Structure
13.2 Company Profiles
13.2.1 Mitsubishi Heavy Industries, Ltd.
13.2.1.1 Company Overview
13.2.1.2 Product Portfolio
13.2.1.3 Demographic Reach and Achievements
13.2.1.4 Certifications
13.2.2 McDermott International Ltd.
13.2.2.1 Company Overview
13.2.2.2 Product Portfolio
13.2.2.3 Demographic Reach and Achievements
13.2.2.4 Certifications
13.2.3 Fluor Corporation
13.2.3.1 Company Overview
13.2.3.2 Product Portfolio
13.2.3.3 Demographic Reach and Achievements
13.2.3.4 Certifications
13.2.4 Bechtel Corporation
13.2.4.1 Company Overview
13.2.4.2 Product Portfolio
13.2.4.3 Demographic Reach and Achievements
13.2.4.4 Certifications
13.2.5 DEPCOM Power, Inc.
13.2.5.1 Company Overview
13.2.5.2 Product Portfolio
13.2.5.3 Demographic Reach and Achievements
13.2.5.4 Certifications
13.2.6 Blue Ridge Power
13.2.6.1 Company Overview
13.2.6.2 Product Portfolio
13.2.6.3 Demographic Reach and Achievements
13.2.6.4 Certifications
13.2.7 Blattner Energy Inc.
13.2.7.1 Company Overview
13.2.7.2 Product Portfolio
13.2.7.3 Demographic Reach and Achievements
13.2.7.4 Certifications
13.2.8 Quanta Services, Inc.
13.2.8.1 Company Overview
13.2.8.2 Product Portfolio
13.2.8.3 Demographic Reach and Achievements
13.2.8.4 Certifications
13.2.9 The Shaw Group Inc.
13.2.9.1 Company Overview
13.2.9.2 Product Portfolio
13.2.9.3 Demographic Reach and Achievements
13.2.9.4 Certifications
13.2.10 Sentry Electrical Group, Inc.
13.2.10.1 Company Overview
13.2.10.2 Product Portfolio
13.2.10.3 Demographic Reach and Achievements
13.2.10.4 Certifications
13.2.11 Others
14 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Power EPC Market: Key Industry Highlights, 2018 and 2032
2. North America Power EPC Market: Key Industry Highlights, 2018 and 2032
3. North America Power EPC Historical Market: Breakup by Type (USD Billion), 2018-2023
4. North America Power EPC Market Forecast: Breakup by Type (USD Billion), 2024-2032
5. North America Power EPC Historical Market: Breakup by Country (USD Billion), 2018-2023
6. North America Power EPC Market Forecast: Breakup by Country (USD Billion), 2024-2032
7. North America Power EPC Market Structure
Key Questions Answered in the Report
In 2023, the market reached an approximate value of USD 145.73 billion.
The market is expected to grow at a CAGR of 3.6% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach USD 201.85 billion by 2032.
The market is being driven due to the growing demand for electricity, increasing investments in the renewable energy sector, and the need for modernising the existing power infrastructure.
Key trends aiding the market expansion include high power requirements, shift from non-renewable to renewable energy sources, and the incorporation of contract-based businesses to complete large-scale projects.
Countries considered in the market United States of America and Canada.
Based on type, the market segmentations include thermal, oil and gas, renewable, and nuclear, among others.
Key players in the market are Mitsubishi Heavy Industries, Ltd., McDermott International Ltd., Fluor Corporation, Bechtel Corporation, DEPCOM Power, Inc., Blue Ridge Power, Blattner Energy Inc., Quanta Services, Inc., The Shaw Group Inc., and Sentry Electrical Group, Inc., among others.
Purchase Options 10% off
Call us
Purchase Full Report
Mini Report
$ 2199
$1999
-
Selected Sections, One User
-
Printing Not Allowed
-
Email Delivery in PDF
-
Free Limited Customisation -
Post Sales Analyst Support -
50% Discount on Next Update
Single User License
$ 3299
$2999
-
All Sections, One User
-
One Print Allowed
-
Email Delivery in PDF
-
Free Limited Customisation -
Post Sales Analyst Support -
50% Discount on Next Update
Five User License
$ 4399
$3999
-
All Sections, Five Users
-
Five Prints Allowed
-
Email Delivery in PDF
-
Free Limited Customisation
-
Post Sales Analyst Support
-
50% Discount on Next Update
Corporate License
$ 5499
$4999
-
All Sections, Unlimited Users
-
Unlimited Prints Allowed
-
Email Delivery in PDF + Excel
-
Free Limited Customisation
-
Post Sales Analyst Support
-
50% Discount on Next Update
Any Question? Speak With An Analyst
View A Sample
Did You Miss Anything, Ask Now
Why Expert Market Research?
Right People
We are technically excellent, strategic, practical, experienced and efficient; our analysts are hand-picked based on having the right attributes to work successfully and execute projects based on your expectations.
Right Methodology
We leverage our cutting-edge technology, our access to trusted databases, and our knowledge of the current models used in the market to deliver you research solutions that are tailored to your needs and put you ahead of the curve.
Right Price
We deliver in-depth and superior quality research in prices that are reasonable, unmatchable, and shows our understanding of your resource structure. We, additionally, offer attractive discounts on our upcoming reports.
Right Support
Our team of expert analysts are at your beck and call to deliver you optimum results that are customised to meet your precise needs within the specified timeframe and help you form a better understanding of the industry.
NEWSLETTER