Thailand Power EPC Market cover

Thailand Power EPC Market by Sectors (Power Generation (Thermal, Renewables, and Others), and Transmission and Distribution - Industry Analysis, Growth, Share, Size, Trends, and Forecast 2021–2026.

  • Report ID: EP-1686
  • Author: Growth Market Reports
  • Rating: 4.9
  • Total Reviews: 3
  • No. Of Pages: 194
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The Thailand EPC power market is expected to grow at a CAGR of 3% in the forecast period. The growth of the market is attributed to increasing population and power consumption.

EPC power stands for engineering, procurement, and construction of power plants. The single company or vendor takes the entire responsibility of designing and establishing the project.


Thailand Power EPC Market summary

Thailand’s increasing power demand has encouraged various industry players, from new entrants to emerging players to enter in the Thailand EPC power market. The country had 11800 MW renewable capacity in 2019.  The market in country is expected to grow a significant growth, especially, in the renewable energy sector owing to the increasing number of renewable projects.

Thailand  launched multiple programs for the growth of the power sector. For instance, it announced Power Development Plan in 2019, Renewable Energy Map 2036, Energy Efficiency Plan, Alternative Energy Development Plan, and some small-scale projects. These programs are expected to boost the power EPC market in the country. With Renewable Energy map 2036, Thailand is aiming to install 17 GW of solar power, which is expected to create ample opportunities in the coming years.

Market Drivers, Restraints, Trends, and Opportunities

  • Increasing population and power consumption are driving the power market.
  • The COVID-19 outbreak has caused supply chain disruptions and is expected to delay some EPC projects in the power sector. This is expected to restrain the market growth.
  • Growing number of government initiatives to develop renewable projects is anticipated to positively influence the growth of the market.
  • Decreasing prices of semiconductor is speculated to create opportunities for industry players during the forecast period.
  • Rising number of incentive programs by the Government of Thailand to boost the establishment of power generation plants is anticipated to spur the Thailand EPC market in the projected timeline.

Scope of the Report

The report on Thailand 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

Thailand Power EPC Market - Industry Analysis, Growth, Share, Size, Trends, and Forecast

Base Year

2020

Historic Data

2018–2019

Forecast Period

2021–2026

Segmentation

Sector Power Generation (Thermal, Renewables, and Others) and Transmission and Distribution)

Report Coverage

Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast

Key Players Covered in the Report

Mitsubishi Hitachi Power Systems, Ltd, Marubeni Corporation, General Electric Company, Poyry PLC, Black & Veatch Corporation, and others.

 

Thailand EPC power market Market Insights

Renewable segment to Witness Significant Growth

Based  on sectors, the market is segregated into thermal, renewables and others. In 2014, Thailand had a total capacity of 7406 MW renewable energy generation and in 2019, it increased to 11860 MW. The country announced in 2020 that Electricity Generating Authority of Thailand (EGAT) were planning to build 2.7 GW of floating solar power capacity on the dam reservoirs by 2037. Therefore, factors such as supportive government policies coupled with upcoming renewable energy projects are expected to drive the renewables segment.


Thailand Power EPC Market sector

Transmission & distribution segment to grow at a rapid race

The transmission & distribution segment accounted for a significant market share and is expected to grow at a rapid pace during the forecast period. Government state bodies and industry players are partnering to swift the deployment of centralized and decentralized power grids across the country. Moreover, government agencies are granting funding to improve the electricity infrastructure, propelling the growth of the transmission & distribution segment.

Segments

Segments Covered in the Report

Sectors

  • Thermal
  • Renewables
  • Others

Transmission and Distribution

Key players

  • Mitsubishi Hitachi Power Systems Ltd
  • Marubeni Corporation
  • General Electric Company
  • Poyry PLC
  • Black & Veatch Corporation
  • Others.

Competitive Landscape

Some of the major companies include Mitsubishi Hitachi Power Systems, Ltd, Marubeni Corporation, General Electric Company, Poyry PLC, and Black & Veatch Corporation, and others.

In September 2020, Mitsubishi Power signed a contract with Hin Kong Power company to build a 1.4 GW natural gas-fired combined cycle turbine facility. According to the contract, the former company is expected to supply two gas turbines to the facility. As per Mitsubishi Power, the plant is anticipated to reduce up to 70% of carbon emissions.

In June 2019, DP Cleantech Group’s signed an EPC contract for a 9.5 MW biomass power plant in Uttaradit province. Under Power Development Plan 2037, Thailand is planning to add 56 GW of new power generation capacity to meet 77.21 GW aim by year 2037. This initiative is expected to drive the power EPC market considerably.

Mitsubishi Hitachi Power Systems, Ltd. received an order for EPC of 5300 MW natural gas-fired power plant. Thailand is working forward to reach its 2036 plan with such multiple projects, driving the EPC market in the power sector.

Thailand Power EPC Market keyplayers

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Power EPC Market 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 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 Market - Supply Chain
  4.5. Global Power EPC Market Market Forecast
     4.5.1. Power EPC Market Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Power EPC Market Market Size (000’ Units) and Y-o-Y Growth
     4.5.3. Power EPC Market Market Absolute $ Opportunity
5. Global Power EPC Market 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 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 Market Demand Share Forecast, 2019-2026
6. North America Power EPC Market 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 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 Market Demand Share Forecast, 2019-2026
7. Latin America Power EPC Market 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 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 Market Demand Share Forecast, 2019-2026
8. Europe Power EPC Market 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 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 Market Demand Share Forecast, 2019-2026
9. Asia Pacific Power EPC Market 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 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 Market Demand Share Forecast, 2019-2026
10. Middle East & Africa Power EPC Market 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 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 Market Demand Share Forecast, 2019-2026
11. Competition Landscape
  11.1. Global Power EPC Market Market: Market Share Analysis
  11.2. Power EPC Market Distributors and Customers
  11.3. Power EPC Market Market: Competitive Dashboard
  11.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     11.4.1. Mitsubishi Hitachi Power Systems Ltd
     11.4.2. Marubeni Corporation
     11.4.3. General Electric Company
     11.4.4. Poyry PLC
     11.4.5. Black & Veatch Corporation
     11.4.6. Others.
     11.4.7.  

Segments Covered in the Report

Sectors

  • Thermal
  • Renewables
  • Others

Transmission and Distribution

Key players

  • Mitsubishi Hitachi Power Systems Ltd
  • Marubeni Corporation
  • General Electric Company
  • Poyry PLC
  • Black & Veatch Corporation
  • Others.

Some of the major companies include Mitsubishi Hitachi Power Systems, Ltd, Marubeni Corporation, General Electric Company, Poyry PLC, and Black & Veatch Corporation, and others.

In September 2020, Mitsubishi Power signed a contract with Hin Kong Power company to build a 1.4 GW natural gas-fired combined cycle turbine facility. According to the contract, the former company is expected to supply two gas turbines to the facility. As per Mitsubishi Power, the plant is anticipated to reduce up to 70% of carbon emissions.

In June 2019, DP Cleantech Group’s signed an EPC contract for a 9.5 MW biomass power plant in Uttaradit province. Under Power Development Plan 2037, Thailand is planning to add 56 GW of new power generation capacity to meet 77.21 GW aim by year 2037. This initiative is expected to drive the power EPC market considerably.

Mitsubishi Hitachi Power Systems, Ltd. received an order for EPC of 5300 MW natural gas-fired power plant. Thailand is working forward to reach its 2036 plan with such multiple projects, driving the EPC market in the power sector.

Thailand Power EPC Market keyplayers

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