As per the TechSci Research report titled "Saudi Arabia EPC Power Market by Type (Thermal, Oil & Gas, Renewable, Nuclear, and Others), By Component (Engineering Design, Procurement, and Construct), By Region, Forecast and Opportunities, 2028," the growth of the private sector's power EPC market share in Saudi Arabia will be significant in acquiring resources. The EPC Power Market is likely to receive a boost due to the growing number of industrial activities and the rising need for power supply in the country's residential areas. To address the country's energy supply concerns, Saudi Arabia is investing heavily in the power generating industry.
While the entire cost of generating power from renewables is higher than that from traditional sources, renewable technology is rapidly evolving and competing with fossil-fuel-based power facilities. With increased government support and improved economics, the renewable energy industry has become more attractive to investors. This growth is expected to attract investments in renewable sources, strengthening the Saudi Arabia EPC Power market throughout the projection period.
Over the past two decades, Saudi Arabia's energy mix has undergone significant changes, with improving energy efficiency being crucial to balancing energy supply and demand. The Kingdom aims to satisfy its energy demand by 2030, with renewable energy playing a crucial role. This expansion is expected to attract renewable investments, bolstering the Saudi electricity EPC market over the forecast period.
Browse over XX market data Figures spread through XX Pages and an in-depth TOC on the "Saudi Arabia EPC Power Market.” - https://www.techsciresearch.com/report/saudi-arabia-epc-power-market/14855.html
The market is segmented into Type and Components. Based on Type, the Saudi Arabia EPC Power Market is further bifurcated into Thermal, Oil & Gas, Renewable, Nuclear, and Others. Based on Components, the Saudi Arabia EPC Power Market is segmented into Engineering Design, Procurement, and Construct.
Key market players in the Saudi Arabia EPC Power Market include:
- Doosan Heavy Industries Construction Co Ltd
- National Contracting Company Limited
- Power Construction Corporation of Chn Ltd
- Larsen & Toubro Limited
- Electrical & Power Contracting Co. Ltd
- Mahindra Group
- IVRCL Infrastructures & Projects Ltd
- Ammico International Contracting Co. Ltd
- Abdulrahman Alrabiah & Sons Group
- Saipem Taqa Al-Rushaid Fabricators Company Ltd.
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“The Saudi government has introduced several initiatives to support the growth of the power sector, including the privatization of the Saudi Electricity Company, which has attracted significant investment from both local and international companies. This has created a favorable environment for EPC contractors and service providers to enter the market and offer their expertise and services. Overall, the Saudi EPC power market is expected to experience significant growth in the coming years, driven by the government's commitment to renewable energy, the development of mega-projects, and the favorable regulatory environment. As the market continues to grow, it will offer significant opportunities for companies in the power sector, both in traditional and renewable energy, to enter and expand their presence in Saudi Arabia. Increasing power-related projects throughout the world are likely to boost Saudi Arabia EPC market growth over the forecast period,” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.
Saudi Arabia EPC Power Market by Type (Thermal,Oil & Gas, Renewable, Nuclear, andOthers), By Component (Engineering Design, Procurement, and Construct), By Region, Forecast and Opportunities, 2028 has evaluated the future growth potential of Saudi Arabia EPC Power Market and provides statistics & information on market size, structure, and future market growth. The report's goal is to give current market knowledge and assist decision makers in making informed investment decisions. Furthermore, the report identifies and analyses emerging trends, as well as key drivers, challenges, and opportunities in the Saudi Arabia EPC Power Market.
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