The UAE power EPC market size is projected to expand at a significant CAGR of more than 6.6% during the forecast period, 2021–2028. The growth of the market is attributed to the increasing industrialization, rising population, infrastructural development, rapid growth in construction sector and implementation of nuclear and waste-to-energy projects.
UAE power engineering, procurement, and construction (EPC) market is one of the most prominent sectors in the country. EPC contracts are typically a form of contract used to take on construction works by the private sector on large scale and complex infrastructure projects. EPC contracts are sometimes called turnkey construction contracts which means contractor is obliged to deliver a complete facility to the developer who then only needs to turn a key to start operating the facility.
EPC contractors majorly focus on overall engineering sector from manufacturing of main power equipment like turbines, boilers, and generators, to construction, engineering, and commissioning activities.
United Arab Emirates has one of the most advanced power sectors in the region, with distinctive regulations and government policies that are favorable. UAE’s energy mix include oil & gas, solar, nuclear, and fossil fuels. The country has 7% of global oil reserves, which is approximately 100 billion barrels. During the last decade, the country has heavily transitioned from gas powered plants to nuclear, solar, and other renewables in a bid to reduce its carbon emissions significantly.
The report on the UAE 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 |
UAE Power EPC Market - Industry Analysis, Growth, Share, Size, Trends, and Forecast |
Base Year |
2020 |
Historic Data |
2018–2019 |
Forecast Period |
2021–2028 |
Segmentation |
Generation Sources (Thermal Power Sources, Renewable Sources, Nuclear, Oil Based, Natural Gas, and Others), Equipment’s (Gas Turbines, Steam Turbines, Boilers, Solar Photovoltaic Systems, Generators, and Others) |
Regional Scope |
|
Report Coverage |
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast |
Key Players Covered in the Report |
Abu Dhabi National Energy Company PJSC (TAQA), ACWA Power, Abu Dhabi Transmission & Despatch Company (Transco), Dubai Electricity and Water Authority (DEWA), Petrofac Limited |
Based on generation sources, the UAE power EPC market is segmented into thermal power sources, renewable sources, nuclear, oil based, natural gas, and others. The natural gas segment is expected to account fora key share of the market in the coming years due to the rising energy consumption in many large cities across the country and rapid development in infrastructural sector in the recent years.
On the other hand, the renewable generation source segment is anticipated to expand at a rapid pace during the forecast period owing to the various government regulations and commitments promoting the generation of green energy to reduce carbon emissions which is expected to propel the market at a steady CAGR during the forecast period.
In terms of equipment’s, the UAE power EPC market is segregated into gas turbines, steam turbines, boilers, solar photovoltaic systems, generators, and others. Gas turbines segment is expected to grow at a significant pace due to rapid rise in industrialization and increasing EPC projects in the country. Several major EPC companies are operating in the various popular cities of the country, this has resulted in surge for energy demand.
Gas turbines are the equipment that rotates by using the hot gas produced by burning compressed air and fuel and is considered as an essential item of equipment for combined cycle and cogeneration power plants. However, boilers are anticipated to register a significant CAGR in the coming years due to the rising demand for the equipment among major EPC companies in the recent years.
Segments Covered in the Report
Generation Sources
Equipment’s
Key Players
Key players operating in the market include Abu Dhabi National Energy Company PJSC (TAQA), ACWA Power, Abu Dhabi Transmission & Despatch Company (Transco), and Dubai Electricity and Water Authority (DEWA), Petrofac Limited. The players are adopting various business strategies due to the competitiveness of the market. Strategies include, mergers, acquisitions, partnerships, collaborations, capacity expansion, and product launches to enhance their market shares. For instance,
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