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The United States power EPC market size reached USD 28.59 billion in 2023. The market is expected to grow at a CAGR of 5.1% between 2024 and 2032, reaching almost USD 45.12 billion by 2032.
Lockdown measures implemented by the US government in response to the COVID-19 pandemic temporarily reduced electricity demand in commercial and industrial sectors in the first quarter of 2020. Despite this, the United States power EPC market is poised for growth driven by increasing power generation capacity and government support for electricity infrastructure development.
The US Department of Energy's (DOE) "Building a Better Grid Initiative," launched in January 2022, aims to accelerate the nationwide deployment of new and upgraded high-capacity electric transmission lines. The US boasts a substantial power generation capacity, with over 1 million megawatts connected to 600,000 miles of transmission lines. Recent investments in grid modernisation have made the system smarter and more resilient, further propelling the US power EPC market forward.
Investments in wind and solar energy reached USD 55 billion in 2020, with planned deployments of 7.6 GW of wind and 21.5 GW of solar in 2022, according to the Energy Information Administration (EIA). Government funding supports various transmission projects to enhance the nation's grid infrastructure.
The US Power EPC market encompasses diverse projects, including thermal power plants, renewable energy installations, and transmission networks. EPC contractors oversee the entire project lifecycle, from design to commissioning.
Factors driving the US power EPC market include increasing energy demands due to population growth and industrialisation, government initiatives promoting renewable energy, technological advancements, supportive policies, the need to modernise ageing infrastructure, and environmental concerns about reducing carbon emissions while driving the United States power EPC market development.
United States Power EPC Market Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments:
Market Breakup by Type
Market Breakup by Region
Key players in the power EPC market in the United States through technological innovations and increasing investments offer products and services to support the end users.
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:
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Breakup by Type |
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Breakup by Region |
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*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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The market is estimated to be valued at USD 28.59 billion in 2023.
The market is projected to grow at a CAGR of 5.1% between 2024 and 2032.
The power EPC market is expected to witness significant growth to reach USD 45.12 billion in 2032.
The market is categorised according to its type, which includes thermal, oil and gas, renewable, nuclear and others.
The key market players are Bechtel Corporation, Mitsubishi Heavy Industries, Ltd., EPCOM Power, Inc., McDermott International Ltd., Fluor Corporation, Blue Ridge Power, Quanta Services, Inc., The Shaw Group Inc., Sentry Electrical Group, Inc., Blattner Energy Inc., and others.
The market is driven by factors that include increasing energy demands due to population growth and industrialisation, government initiatives promoting renewable energy, technological advancements, supportive policies, among others.
The power EPC market is categorised according to its region, which includes New England, Mideast, Great Lakes, Plains, Southeast, Southwest, Rocky Mountain, and Far West.
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United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61-448-061-727
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63-287-899-028, +63-967-048-3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84-865-399-124
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