Nigeria Power EPC Market Size, Share, Opportunities [2031]
Nigeria Power EPC Market Size, Share, Opportunities [2031]
Segments - Nigeria Power EPC Market by Sectors (Power Generation [Thermal, Renewables, and Others] and Power Transmission & Distribution) and Country (Nigeria) - Nigeria Industry Analysis, Growth, Share, Size, Trends, and Forecast 2023 – 2031
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| Report ID :EP-3785
| 4.2 Rating
| 81 Reviews
| 165 Pages
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Report Description
The Nigeria Power EPC Market size was valued at USD XX Billion in 2022 and is expected to surpass USD XX Billion by 2031, expanding at a CAGR of 3.5% during the forecast period, 2023 – 2031. The growth of the market is attributed to the growing investment and supportive government guidelines.
The EPC stands for engineer, procure, and construct. The basic to this idea is one organization that is contractor takes on almost all the aspects of the assignment and offers a single point of responsibility and communication for the holder. The use of EPC agreements in the power generation industry has been constantly developing around last few years as an effect of remarkable changes happening in the industry. About all power generation projects use EPC agreements.
All ideas have to be time bound to be lucrative; though the market still undergoes from natural interruptions due to many reasons, particularly for the greater, difficult ideas that are interrupted because of land acquirement problems and environmental approval matters.
Nigeria Power EPC Market Trends, Drivers, Restraints, and Opportunities
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Rising domestic electricity demand led to increased electricity generation. This, factors is expected to spur the growth of the market.
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Government approaching foreign investment for power plant infrastructure to full fill the demand is likely to propel the growth of market in the projected timeline.
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Geopolitical tension and the high fiscal deficit coupled with a high inflation rate can hamper the market growth in the coming years.
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Volatile crude oil prices leading to delay in several upstream projects, can create challenges for the market expansion.
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Emerging markets such as distributed power generation, smart grids, and energy storage are estimated to create lucrative opportunities for the market during the forecast period.
Scope of Nigeria Power EPC Market Report
The report on the Nigeria 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 |
Details |
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Report Title |
Power EPC Market - Nigeria Industry Analysis, Growth, Share, Size, Trends, and Forecast |
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Base Year |
2022 |
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Historic Data |
2016–2021 |
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Forecast Period |
2023–2031 |
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Segmentation |
Sectors (Power Generation [Thermal, Renewables, and Others] and Power Transmission & Distribution) |
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Country |
Nigeria |
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Report Coverage |
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 |
Andritz AG; Alten Energías Renovables; Gentec Engineering, Ltd.; and Energo Nigeria Ltd. |
Nigeria Power EPC Market Segment Insights
Sectors Segment Analysis
In terms of sectors, the market is bifurcated into power generation and power transmission & distribution. The power generation segment is categorized as thermal, renewables, and others.
The renewables segment is expected to constitute a key share of the market during the projected period, as government is aiming to rely on renewable energy to provide the electricity demand, the country has abundance of several renewable energy resources, principally wind, hydropower, and biomass. Therefore, future investments, projects, and strategies are anticipated to a significant driver of the power EPC market.
The country is anticipated to get investment around USD 1 billion from the countries renewable energy leading plan. Nigeria’s solar photovoltaic fixed ability got 28 MW in 2019, with an increase of about 47.36% related to 19 MW in 2018.
The renewable energy master plan was introduced in 2011 to rise the part of renewable energy in the country by 10% around 2025, and 3% in 2019. In 2019, renewable power plant under construction was around 1436 MW along with small hydropower plants.
Solar power represents around 94% of the impending renewable power plants limit in the country. The country transmission foundation is insufficient and is a key element liable for abandoned age limit, which is normal for the country power network while the request is excessively high. The public authority is attempting to assemble new tasks and better transmission offices to serve the development of the country.
Segments
The Nigeria power EPC segmented on the basis of
Sectors
- Power Generation
- Thermal
- Renewables
- Others
- Power Transmission & Distribution
Country
- Nigeria
Key Players
- Andritz AG
- Alten Energías Renovables
- Gentec Engineering, Ltd.
- Energo Nigeria Ltd
Competitive Landscape
The key players competing in the Nigeria power EPC market are Andritz AG; Alten Energías Renovables; Gentec Engineering, Ltd.; and Energo Nigeria Ltd. Companies are engaging in partnerships with local developers and focusing on creative business strategies to leverage their market position.
- In December 2020, European Union increased its investments of the Climate Investor One (CI1) to further increase renewable energy investments in Nigeria.
Mambilla hydropower project is a 3.05 GW hydroelectric capacity being established on the Dongo River near Baruf, Nigeria. The development is started by Nigeria’s Federal Ministry of Power, Construction, and Housing, using the service of China-based investments.
Table Of Content
1. Executive Summary2. 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)
11.4.1. Andritz AG
11.4.2. Alten Energías Renovables
11.4.3. Gentec Engineering, Ltd.
11.4.4. Energo Nigeria Ltd
Methodology
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