The Equatorial Guinea power EPC market size is anticipated to register a considerable CAGR during the forecast period, 2021–2028. The growth of the market is attributed to the increasing investment in the power generation sector.
EPC Power is a power conversion system (PCS) supplier that combines engineering precision with industrial strength to build a compact high-power conversion system suitable for various applications. The single contractor takes up the responsibility of designing, procuring, installation, and commissioning of the project. The process includes undertaking complex infrastructure projects by a private company.
The power is transmitted from the power plant in a large movement at a high-power voltage level to a sub-base. Although the power is distributed at the ground level, high-voltage electricity can be distributed to the industrial customers on lower voltage conversion.
Market Trends, Drivers, Restraints, and Opportunities
- Rapid industrialization and commercialization is expected to propel the growth of the market.
- Technology advancements in digital solutions and renewable energy are anticipated to drive the market growth during the forecast period.
- Industrial consumer seeking better standards and lower prices is one of the major drivers that is contributing to the growth of the market.
- Slow processing of power EPC projects can hinder the market growth.
- The COVID-19 pandemic had resulted in the supply chain disruption, which led to the delay in the supply of raw materials and components. However, the relaxation in restrictions due to acceleration in vaccination drive is propelling the market growth.
- Growing environmental concerns regarding pollution emitted through fossil-powered plants is estimated to proliferate the growth of the market in the projected timeline.
- Rising renewable projects that are less dependent on fossil fuels can create lucrative opportunity for energy market participants.
Scope of the Report
The report on the Equatorial Guinea Power EPC market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes
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Details
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Report Title
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Equatorial Guinea Power EPC Market - Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2020
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Historic Data
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2018–2019
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Forecast Period
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2021–2028
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Segmentation
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Power Generation (Thermal Power, Hydro Power, and Other Powers) and Transmission & Distribution
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Geography Zone
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Equatorial Guinea
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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Power Construction Corporation of China; Wärtsilä Oyj Abp; and Duglas Alliance Ltd.
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Equatorial Guinea Power EPC Market Segment Insights
Hydro power segment is expected to grow at a robust rate
Based on power generation, the market is divided into thermal power, hydro power, and other powers. The hydro power segment is expected to grow at a rapid pace during the forecast period owing to limitless availability of power generated from the flow of water. Moreover, the plan for expansion and installing with heavy focus on the hydro projects is expected to drive the market growth. The market in Equatorial Guinea is expected to grow at a healthy rate during the projected period owing to support of Ministry of Hydrocarbons with the intention to boost the upcoming development projects.
The thermal power segment is anticipated to hold a major share of the market in the projected timeline as the country’s major power generation depends on thermal power plant.
Transmission & distribution segment is projected to expand at a healthy CAGR
The transmission & distribution segment is expected to account for a considerable CAGR during the forecast period owing to technology advancements, which improves the distribution capacity. On the other hand, the transmission congestion can create market impede, which in turn, can create opportunities for the development of new transmission systems. Furthermore, increasing government spending on replacing or revamping the old transmission systems can fuel the growth of the market segment.
Segments
Segments Covered in the Report
The Equatorial Guinea power EPC market has been segmented on the basis of
Power Generation
- Thermal Powers
- Hydro Powers
- Other Powers
Transmission & Distribution
Country
Key Players
- Power Construction Corporation of China
- Wärtsilä Oyj Abp
- Duglas Alliance Ltd.
Competitive Landscape
Key players competing in the Equatorial Guinea power EPC market are Power Construction Corporation of China; Wärtsilä Oyj Abp; and Duglas Alliance Ltd.
Companies are engaging in partnerships and collaborations with government and private organizations to expand their market share.
In June2020, Sendje hydroelectric power plant project received €122 million (approximately USD 143 million) to build 200 MW plant. This was under an effort to increase the country’s electricity capacity to reach 590 MW.
In October 2018, Wärtsilä Oyj Abp, a global manufacturer and power provider, was awarded to build 38-megawatts (MW) power plant, sponsored by Ministry of Hydrocarbons.
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