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

The Thailand Power Generation EPC Market is segmented by Source Type (Conventional Thermal Power, Renewables, and Other Source Types).

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

Thailand Power Generation EPC Market Size

Thailand Power Generation EPC Market - Market Summary
Study Period 2020 - 2030
Base Year For Estimation 2024
Forecast Data Period 2025 - 2030
Historical Data Period 2020 - 2023
CAGR 4.00 %
Market Concentration Low

Major Players

Thailand Power Generation EPC Market Major Players

*Disclaimer: Major Players sorted in no particular order

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Thailand Power Generation EPC Market Analysis

The Thailand Power Generation EPC Market is expected to register a CAGR of greater than 4% during the forecast period.

  • The conventional thermal power segment is expected to dominate the market due to rising power demand in Thailand.
  • The energy demand in Thailand is anticipated to grow significantly, and the extensive renewable energy targets to reach 30% of total power consumption by 2037 are likely to create surplus opportunities for the EPC market players in the coming years.
  • Favorable government policies and incentive programs toward the adoption of renewable energy sources and a rising focus on reducing carbon emissions are expected to boost the renewable power generation EPC market at a significant rate.

Thailand Power Generation EPC Industry Overview

The Thai power generation EPC power market is moderately fragmented. Some of the major companies include Mitsubishi Heavy Industries Ltd, Marubeni Corporation, General Electric Company, Toshiba Corporation, and Black and Veatch Corporation.

Thailand Power Generation EPC Market Leaders

  1. Marubeni Corporation

  2. General Electric Company

  3. Black & Veatch Corporation

  4. Mitsubishi Heavy Industries, Ltd.

  5. Toshiba Corporation

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

  • In July 2021, Kawasaki Heavy Industries Ltd announced that it received an order from Singapore-based Jurong Engineering Ltd. (JEL) for four Kawasaki Green Gas Engines to be used in the RATCH Cogeneration Expansion Project in Thailand. The order was placed through Kawasaki Gas Turbine Asia Sdn Bhd (KGA), which is based in Kuala Lumpur, Malaysia. In the RATCH Cogeneration Expansion Project, a 30 MW class gas engine power plant will be added to a 110 MW combined-cycle power plant operated by RATCH Cogeneration Company Limited, which operates under the parent company and major Thai power producer RATCH Group Public Company Limited.
  • In September 2020, Mitsubishi Power signed a contract to build a 1.4GW natural gas-fired power plant based on a gas-fired turbine combined cycle (GTCC). The scope of the agreement includes offering engineering, procurement, and construction services for the power plant with Hin Kong Power company Limited, an independent power producer in Thailand. The project is planned in two phases, and commercial operations are expected to begin in March 2024 and January 2025.

Thailand Power Generation EPC Market Report - Table of Contents

1. INTRODUCTION

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

2. EXECUTIVE SUMMARY

3. RESEARCH METHODOLOGY

4. MARKET OVERVIEW

  • 4.1 Introduction
  • 4.2 Market Size and Demand Forecast in USD billion, till 2027
  • 4.3 Installed Power Generation Capacity and Forecast in MW, 2019 - 2027
  • 4.4 Thailand Power Generation Installed Capacity, by Source, in MW, 2010 - 2020
  • 4.5 Key Projects Information
  • 4.6 Recent Trends and Developments
  • 4.7 Government Policies and Regulations
  • 4.8 Market Dynamics
    • 4.8.1 Drivers
    • 4.8.2 Restraints
  • 4.9 Supply Chain Analysis
  • 4.10 PESTLE Analysis

5. MARKET SEGMENTATION - BY SOURCE TYPE

  • 5.1 Conventional Thermal Power
  • 5.2 Renewables
  • 5.3 Other Source Types

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 Mitsubishi Heavy Industries Ltd
    • 6.3.2 Marubeni Corporation
    • 6.3.3 General Electric Company
    • 6.3.4 Black and Veatch Corporation
    • 6.3.5 Toshiba Corporation
    • 6.3.6 DP Cleantech Group
    • 6.3.7 Grimm Power Public Company Limited
    • 6.3.8 ReZeca Engineering
  • *List Not Exhaustive

7. MARKET OPPORTUNITIES AND FUTURE TRENDS

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Thailand Power Generation EPC Industry Segmentation

The Thai power generation EPC market report includes:

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Thailand Power Generation EPC Market Research FAQs

What is the current Thailand Power Generation EPC Market size?

The Thailand Power Generation EPC Market is projected to register a CAGR of greater than 4% during the forecast period (2025-2030)

Who are the key players in Thailand Power Generation EPC Market?

Marubeni Corporation, General Electric Company, Black & Veatch Corporation, Mitsubishi Heavy Industries, Ltd. and Toshiba Corporation are the major companies operating in the Thailand Power Generation EPC Market.

What years does this Thailand Power Generation EPC Market cover?

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

Thailand Power Generation EPC Industry Report

Statistics for the 2025 Thailand Power Generation EPC market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Thailand Power Generation 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.