ASEAN Power EPC Market Size & Share Analysis - Growth Trends & Forecasts (2025 - 2030)

The ASEAN Power EPC Market is segmented by Source (Conventional Thermal Power, Renewables Power, and Nuclear Power) and Geography (Indonesia, Thailand, Malaysia, Vietnam, Philippines, and the Rest of Southeast Asia).

ASEAN Power EPC Market Size & Share Analysis - Growth Trends & Forecasts (2025 - 2030)

ASEAN Power EPC Market Size

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ASEAN Power EPC - Market Summary
Study Period 2020 - 2030
Base Year For Estimation 2024
Forecast Data Period 2025 - 2030
Historical Data Period 2020 - 2023
CAGR 6.00 %
Market Concentration Low

Major Players

ASEAN Power EPC Market Major Players

*Disclaimer: Major Players sorted in no particular order

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ASEAN Power EPC Market Analysis

The ASEAN Power EPC Market is expected to register a CAGR of greater than 6% during the forecast period.

  • The renewables power segment is likely to see significant growth during the forecast period due to the rising focus on adopting renewable energy sources in a bid to reduce carbon emissions across the region.
  • The energy demand in the ASEAN is expected to grow by approximately two-thirds between 2019 and 2040, thereby leading to massive investment in new energy generation, distribution, and transmission, creating surplus market opportunities for the EPC market players in the coming years.
  • Indonesia, the largest economy in Southeast Asia, witnessed the highest power generation in 2021. The country is expected to dominate the power generation EPC market during the forecast period.

ASEAN Power EPC Industry Overview

The ASEAN power EPC power market is moderately fragmented. Some of the major companies include Mitsubishi Heavy Industries Ltd, Hyundai Engineering Co. Ltd., Sumitomo Corporation, Toshiba Corporation, and Doosan Heavy Industries & Construction Co., Ltd.

ASEAN Power EPC Market Leaders

  1. Mitsubishi Heavy Industries Ltd.

  2. Hyundai Engineering Co. Ltd.

  3. Sumitomo Corporation

  4. Doosan Heavy Industries & Construction Co., Ltd.

  5. Toshiba Corporation

  6. *Disclaimer: Major Players sorted in no particular order
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ASEAN Power EPC Market News

  • In December 2021, Solar Philippines Nueva Ecija Corporation (SPNEC), a major project developer based in the Philippines, started constructing the first 50 MW unit of a 500 MW solar PV facility. The first 50 MW is planned to be commissioned by the end of 2022 and the rest of the project by 2023.
  • In October 2021, Mitsubishi Power, a subsidiary of Japanese company Mitsubishi Heavy Industries, announced that it had started the commercial operations of a 500 megawatt (MW) natural gas turbine in Indonesia's Muara Karang Power Plant. The newly built natural gas-fired gas turbine combined cycle (GTCC) power generation system was developed for the Muara Karang Power Plant run by the state utility Perusahaan Listrik Nasional (PLN), located 10 km northwest of Jakarta.
  • In March 2022, San Miguel Corp. (SMC) plans to build two gas-fired power stations in the central Philippines for 60 billion Pesos ( USD 1.14 billion). SMC had proposed a 4x75 MW combined-cycle power unit in San Carlos City, Negros Oriental province, while SMC's indirect subsidiary Prestige Power will build a 600 MW combined-cycle power plant in Leyte province.

ASEAN Power EPC Market Report - Table of Contents

1. INTRODUCTION

  • 1.1 Scope of the Study
  • 1.2 Market Definition
  • 1.3 Study Assumptions

2. RESEARCH METHODOLOGY

3. EXECUTIVE SUMMARY

4. MARKET OVERVIEW

  • 4.1 Introduction
  • 4.2 Market Size and Demand Forecast in USD billion, till 2027
  • 4.3 Electricity Generation in Terawatt-hours, by Major Countries, till 2020
  • 4.4 Recent Trends and Developments
  • 4.5 Government Policies, Targets and Regulations
  • 4.6 Market Dynamics
    • 4.6.1 Drivers
    • 4.6.2 Restraints
  • 4.7 Supply Chain Analysis
  • 4.8 Porter's Five Forces Analysis
    • 4.8.1 Bargaining Power of Suppliers
    • 4.8.2 Bargaining Power of Consumers
    • 4.8.3 Threat of New Entrants
    • 4.8.4 Threat of Substitutes Products and Services
    • 4.8.5 Intensity of Competitive Rivalry

5. MARKET SEGMENTATION

  • 5.1 Source
    • 5.1.1 Conventional Thermal Power
    • 5.1.2 Renewables Power
    • 5.1.3 Nuclear Power
  • 5.2 Geography
    • 5.2.1 Indonesia
    • 5.2.2 Thailand
    • 5.2.3 Malaysia
    • 5.2.4 Vietnam
    • 5.2.5 Philippines
    • 5.2.6 Rest of the ASEAN Countries

6. COMPETITIVE LANDSCAPE

  • 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
  • 6.2 Strategies Adopted by Leading Players
  • 6.3 Company Profiles
    • 6.3.1 Hyundai Engineering Co., Ltd.
    • 6.3.2 Mitsubishi Heavy Industries Ltd.
    • 6.3.3 Sumitomo Corporation
    • 6.3.4 Toshiba Corporation
    • 6.3.5 Doosan Heavy Industries & Construction Co., Ltd.
    • 6.3.6 JGC Holdings Corporation
    • 6.3.7 Kawasaki Heavy Industries Ltd
    • 6.3.8 Trung Nam Group
    • 6.3.9 IHI Corporation
    • 6.3.10 Indika Energy
  • *List Not Exhaustive

7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

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ASEAN Power EPC Industry Segmentation

The ASEAN power EPC market report includes:

Source Conventional Thermal Power
Renewables Power
Nuclear Power
Geography Indonesia
Thailand
Malaysia
Vietnam
Philippines
Rest of the ASEAN Countries
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ASEAN Power EPC Market Research FAQs

What is the current ASEAN Power EPC Market size?

The ASEAN Power EPC Market is projected to register a CAGR of greater than 6% during the forecast period (2025-2030)

Who are the key players in ASEAN Power EPC Market?

Mitsubishi Heavy Industries Ltd., Hyundai Engineering Co. Ltd., Sumitomo Corporation, Doosan Heavy Industries & Construction Co., Ltd. and Toshiba Corporation are the major companies operating in the ASEAN Power EPC Market.

What years does this ASEAN Power EPC Market cover?

The report covers the ASEAN Power EPC Market historical market size for years: 2020, 2021, 2022, 2023 and 2024. The report also forecasts the ASEAN Power EPC Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.

ASEAN Power EPC Industry Report

Statistics for the 2025 ASEAN Power EPC market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. ASEAN Power EPC analysis includes a market forecast outlook for 2025 to 2030 and historical overview. Get a sample of this industry analysis as a free report PDF download.