Power EPC market to reach $897.46b by 2029

The increasing energy demand will boost the expansion of the market.

The power EPC market is expected to reach $897.46b by 2029, reflecting a compound annual growth rate 5.6%.

In its latest analysis, The Business Research Company (TBRC) said this expansion will be driven by factors such as increasing global energy demand, the transition towards sustainable energy, heightened awareness and worry about climate change, enhancements and broadening of grid infrastructure to incorporate new energy sources, and the rising incidents of extreme weather conditions.

The market has experienced robust growth in the past years, reaching $684.9b in 2024 to $720.67b in 2025, with a compound annual growth rate (CAGR) of 5.2%.

“The escalating demand for energy is projected to fuel the expansion of the power EPC market in the future. This demand stems from a combination of factors, including an expanding global population, swift industrialisation, urbanisation, technological progression, and improved living standards, all of which lead to an increased need for energy in residential, commercial, and industrial areas,” the company said.

“Power EPC services play a vital role in the energy domain by efficiently constructing and managing large energy generation and distribution projects,” it added.

Amongst regions, Asia Pacific is expected to continue growing the fastest in the upcoming years.