Summary - A new market study, titled “Global Power Generation EPC Market - Upcoming Trends, Growth Drivers and Challenges – Forecast to 2025” has been featured on WiseGuyReports.
The Global Power Generation EPC market was valued at USD xx million in 2017 and is fore-casted to reach USD xx million by 2025, with a CAGR of xx% during the forecast period (2018-2025). The term EPC stands for ‘Engineer, Procure and Construct.' The key to this concept is that one organization, namely the contractor, undertakes virtually all aspects of the project and provides a single point of communication and responsibility for the owner. The use of EPC contracts in the power generation industry has been continuously evolving over the last few years as a result of tremendous changes happening in the business and technology areas of this industry. Almost all power generation projects use EPC contracts.
Countries are becoming more concerned about energy supply and are investing mas-sive capital in the power generation sector.
With the increase in economic growth and population, the demand for more power output continues to increase, and as a result, the power generation sector is attracting huge in-vestments globally. The high investments in the power sector will boom the market for EPC contracts in the power generation industry.
Lack of effective remedies is a primary restraint for the market
Defects, delays, and failures to meet performance requirements are likely to result in se-vere consequences for the owner regarding lost income. Some performance failures may even make it impossible to operate the plant, e.g., a failure to meet the required noise or emissions minimum levels. The remedies/sanctions available to the owner for these failures must be adequate to compensate them for any losses incurred.
Many companies are reluctant to enter into the EPC contracts for power generation be-cause of the heavy losses suffered by the contractors in the past due to certain jurisdictions
All projects have to be time bound to be profitable; however, the market still suffers from inherent delays owing to various reasons, especially for the larger, complex projects that are delayed because of land acquisition complications or environmental clearance issues.
The Global Power Generation EPC market report segments the market by type and by geog-raphy. By type, the market can be segmented as Thermal, Combined-cycle power plants, Gas Based, Nuclear power plants, Renewable, and others. Thermal or Coal-based power generation has the maximum market share in EPA projects. The main reason for the ther-mal power source dominating the power generation market is the relatively low fuel cost and easy mechanism, the overall system of thermal power generation is cost-effective.
Due to the growing environmental awareness, there have been growing concerns over the use of coal (thermal) as a power source because it produces the considerable amount of Carbon-dioxide which is responsible for greenhouse effects. Thermal power generation also requires a high amount of water, which is also limiting the use of it. The EPC contracts for Renewable power generation sources are increasing because they are eco-friendly and does not deplete the natural resources.
By Geography the market has been segmented as- North America, South America, Asia-Pacific, Europe and Rest of the world. Asia-Pacific leads the global power generation EPC market due to the resources in this region and also the governments in countries like India and China are investing heavily in Power generation EPC projects.
The company profiles the following companies-
Doosan Groups, Tata Projects, Worley Parsons and SK Engineering & Construction
Key market segments covered
Type
- Thermal power source
- Combined-cycle power source
- Gas Based
- Nuclear power source
- Renewable
o Hydro
o Solar
o Wind
- Others
By Region
- Asia Pacific
- Europe
- North America
- South America
- Rest of the World
Why purchase the report?
- Visualize the composition of the Power Generation EPC market across each indica-tion, in terms of type, product type, and applications, highlighting the critical com-mercial assets and players.
- Identify commercial opportunities in Power Generation EPC market by analyzing trends and co-development deals.
- Excel data sheet with thousands of data points of the Power Generation EPC market level 4/5 segmentation
- PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study
- Product mapping in excel for the essential Power Generation EPC market products of all major market players
Target Audience
- Raw Material Suppliers/ Buyers
- Product Suppliers/ Buyers
- Industry Investors/Investment Bankers
- Education & Research Institutes
- Research Professionals
- Emerging Companies
- Manufacturers
FOR MORE DETAILS: https://www.wiseguyreports.com/reports/3791868-global-power-generation-epc-market-2018-2025
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As US heads towards Presidential Elections, the energy policy makers in India are keeping a close watch on the results which would decide its impact on the India-US ties.
While Joe Biden promises strong push towards renewable energy sources, Trump’s victory may strengthen India’s oil, infra and defense sector.
As soon as incumbent Donald Trump pulled US out of the Paris climate change agreement, which aims at mitigating the impact of greenhouse gas emissions on the global temperature rise, Biden launched a campaign promising the US to achieve the target of net zero emissions by 2050 and investing USD 1.7 trillion in the next ten years towards actualizing the same.Get more info : https://www.chemanalyst.com/NewsAndDeals/NewsDetails/a-birds-eye-view-on-the-outcome-of-us-elections-on-indias-energy-sector-3399Biden’s proposal sounds well when India has already shifted to fifth gear towards increasing its capacity of clean energy projects.
Clean energy projects comprise nearly a fifth of India’s power generation capacity.
By March 2022, India is aiming to produce 100 GW energy from its ongoing solar projects and 60 GW from wind power plants.
India has been already revisiting its crude sourcing strategy amid growing global uncertainties post the COVID-19 outbreak, aiming to protect its consumers from strong fluctuations in the international oil futures.The India-US hydrocarbon trade was valued at USD 9.2 billion in FY20.
With the IT industry heavily investing into devising new technologies to disrupt the customary systems, agriculture has been a broad segment expecting a revolution.
Advancements in agricultural infrastructures such as vertical farming have received a significant amount of traction with its virtue to cultivate plants by optimizing the space, especially in urban areas.
As a result, the global hydroponics market is poised to gravitate to the new highs with an estimated CAGR of 6.5% and market valuation worth US$12.1 Bn by the end of 2025.With hydroponics, the environmental settings are completely favourable to the crops, thereby, curtailing any fertilizer or pesticide requisites.
With unpredictable weather conditions and lack of water, fertilizers, and soil availability, cultivation of crops was deemed challenging for the farmers.
With the advent of advanced agricultural infrastructures and procedures, hydroponics is gaining widespread popularity with its ability to address the need for green vegetables.Conventional cultivation methodologies have proved ineffective as the plants are prone to get infected by pathogens and cause E.coli and Salmonella poisoning.
This has intensified the adoption of advanced procedures for the production of vegetables such as lettuce, tomatoes, cucumber, spinach, and peppers among the manufacturers of the hydroponics market.Ask The Analyst @https://www.futuremarketinsights.com/ask-the-analyst/rep-gb-8993Hydroponics make judicious utilization of water, soil, and fertilizers, which is yet another reason for the proliferated adoption of the modernistic procedure.
The global North America High-Performance Trucks Market is segmented on the basis of type, application, and geography.The report researches into the North America High-Performance Trucks market to evaluate its current and future potential.
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