Canada Power EPC Market by Types (Thermal, Oil & Gas, Renewable, Nuclear, and Others), and Country - Industry Analysis, Growth, Share, Size, Trends, and Forecast 2021 – 2028.
The Canada power EPC market size is projected to expand at a CAGR of 3% during the forecast period, 2021-2028. The growth of the market is attributed to rising government initiatives toward the development of renewable energy power plants.
The energy sector in Canada accounts for more than 10% of the nominal GDP. In 2020, Canada was sixth-largest energy producer, fourth-largest net exporter, and the eighth-largest consumer in the world. The government, along with various private players have invested significantly in renewable energy. Furthermore, the falling costs of wind and solar technologies are making them competitive with fossil fuel sources. Moreover, subsidies on renewable energy systems are further propelling the Canada power EPC market.
Canada is focusing on wind power and is expected to dominate the market due to high investment and improved wind current, allowing economic viability for development of large projects. By attracting foreign investment, the wind industry in the country aims to generate 60% of its electricity from renewable sources by 2030. As a result, the Canada Power EPC market is expected to benefit from improved opportunities in the coming years.
Market Trends, Drivers, Restraints, and Opportunities
- Increasing initiatives and support from government is projected to drive the market growth.
- Increasing wind power system installation is anticipated to fuel the market growth.
- High cost of capital investment can create challenges for the growth of the market.
- Development of modern power grid can create immense opportunities for the market players.
Scope of the Report
The report on the Canada power EPC market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
Attributes |
Details |
Report Title |
Canada Power EPC Market - Industry Analysis, Growth, Share, Size, Trends, and Forecast |
Base Year |
2021 |
Historic Data |
2019–2020 |
Forecast Period |
2021–2028 |
Segmentation |
Types (Thermal, Oil & Gas, Renewable, Nuclear, and Others) |
Geographical Zone |
Canada |
Report Coverage |
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast |
Key Players Covered in the Report |
Valard Construction Ltd.; Bantrel Co., Aecon Group Inc.; CIMA+ Canada Inc.; and Stantec Inc.; Canadian Solar Inc. |
Canada Power EPC Market Segment Insights:
Renewable segment to account a major market share
Based on types, the market is segregated into thermal, oil & gas, renewable, nuclear, and others. The renewable segment is anticipated to exhibit a high CAGR during the forecast period. The wind energy generation is estimated to account for a large market share in the renewable industry. Canada increased its installed wind power capacity by 597 MW in 2019, representing an increase of 5% year-over-year (YoY). The wind capacity added in 2018 came from coastal projects, and five projects worth more than USD 1 billion were completed in 2019. Furthermore, under the country’s energy transition law, it has a policy in place to generate more than half of its electricity from clean energy sources by 2030.
The government was primarily focused on expanding and liberalizing the electricity market, as well as opening the industry to private and foreign investors, which is expected to drive the market. Moreover, the production of wind power in the country was initially motivated by environmental concerns. Additionally, the increased reliability persuaded large corporations to invest in renewable energies such as wind to meet the rising demand for electricity. The government agencies and utilities across the country are increasingly considering wind and solar power as a solution to the nation's growing requirement for affordable, reliable, clean, and diverse electricity supply. Thus, the country's unparalleled wind resources is helping to maximize the economic activities and benefit environment.
2. Assumptions and Acronyms Used
3. Research Methodology
4. Power EPC Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Power EPC Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Power EPC Market - Supply Chain
4.5. Global Power EPC Market Forecast
4.5.1. Power EPC Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Power EPC Market Size (000’ Units) and Y-o-Y Growth
4.5.3. Power EPC Market Absolute $ Opportunity
5. Global Power EPC Market Analysis and Forecast by Region
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Region
5.2.2. Y-o-Y Growth Projections by Region
5.3. Power EPC Market Size and Volume Forecast by Region
5.3.1. North America
5.3.2. Latin America
5.3.3. Europe
5.3.4. Asia Pacific
5.3.5. Middle East and Africa (MEA)
5.4. Absolute $ Opportunity Assessment by Region
5.5. Market Attractiveness/Growth Potential Analysis by Region
5.6. Global Power EPC Demand Share Forecast, 2019-2026
6. North America Power EPC Market Analysis and Forecast
6.1. Introduction
6.1.1. Basis Point Share (BPS) Analysis by Country
6.1.2. Y-o-Y Growth Projections by Country
6.2. North America Power EPC Market Size and Volume Forecast by Country
6.2.1. U.S.
6.2.2. Canada
6.3. Absolute $ Opportunity Assessment by Country
6.4. Market Attractiveness/Growth Potential Analysis
6.4.1. By Country
6.4.2. By Product Type
6.4.3. By Application
6.5. North America Power EPC Demand Share Forecast, 2019-2026
7. Latin America Power EPC Market Analysis and Forecast
7.1. Introduction
7.1.1. Basis Point Share (BPS) Analysis by Country
7.1.2. Y-o-Y Growth Projections by Country
7.1.3. Latin America Average Pricing Analysis
7.2. Latin America Power EPC Market Size and Volume Forecast by Country
7.2.1. Brazil
7.2.2. Mexico
7.2.3. Rest of Latin America
7.3. Absolute $ Opportunity Assessment by Country
7.4. Market Attractiveness/Growth Potential Analysis
7.4.1. By Country
7.4.2. By Product Type
7.4.3. By Application
7.5. Latin America Power EPC Demand Share Forecast, 2019-2026
8. Europe Power EPC Market Analysis and Forecast
8.1. Introduction
8.1.1. Basis Point Share (BPS) Analysis by Country
8.1.2. Y-o-Y Growth Projections by Country
8.1.3. Europe Average Pricing Analysis
8.2. Europe Power EPC Market Size and Volume Forecast by Country
8.2.1. Germany
8.2.2. France
8.2.3. Italy
8.2.4. U.K.
8.2.5. Spain
8.2.6. Russia
8.2.7. Rest of Europe
8.3. Absolute $ Opportunity Assessment by Country
8.4. Market Attractiveness/Growth Potential Analysis
8.4.1. By Country
8.4.2. By Product Type
8.4.3. By Application
8.5. Europe Power EPC Demand Share Forecast, 2019-2026
9. Asia Pacific Power EPC Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.1.3. Asia Pacific Average Pricing Analysis
9.2. Asia Pacific Power EPC Market Size and Volume Forecast by Country
9.2.1. China
9.2.2. Japan
9.2.3. South Korea
9.2.4. India
9.2.5. Australia
9.2.6. Rest of Asia Pacific (APAC)
9.3. Absolute $ Opportunity Assessment by Country
9.4. Market Attractiveness/Growth Potential Analysis
9.4.1. By Country
9.4.2. By Product Type
9.4.3. By Application
9.5. Asia Pacific Power EPC Demand Share Forecast, 2019-2026
10. Middle East & Africa Power EPC Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Middle East & Africa Average Pricing Analysis
10.2. Middle East & Africa Power EPC Market Size and Volume Forecast by Country
10.2.1. Saudi Arabia
10.2.2. South Africa
10.2.3. UAE
10.2.4. Rest of Middle East & Africa (MEA)
10.3. Absolute $ Opportunity Assessment by Country
10.4. Market Attractiveness/Growth Potential Analysis
10.4.1. By Country
10.4.2. By Product Type
10.4.3. By Application
10.5. Middle East & Africa Power EPC Demand Share Forecast, 2019-2026
11. Competition Landscape
11.1. Global Power EPC Market: Market Share Analysis
11.2. Power EPC Distributors and Customers
11.3. Power EPC Market: Competitive Dashboard
11.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)