Power EPC Market Report 2026

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.

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