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United Kingdom Power EPC Market Size (2024 - 2029)

The UK power EPC market is experiencing transformative changes due to the shift from a fossil fuel-dominated generation mix to renewable energy sources. This transition is influencing the market size, as the demand for electricity continues to rise, driving the development of new power generation systems. However, the reduction in coal-based power plants is expected to impact the market's growth negatively, as this sector was a significant contributor to EPC service demand. Despite these challenges, the planned interconnector projects with neighboring countries present substantial opportunities for expansion in the EPC market. The renewable energy sector is poised for considerable growth, supported by the UK's policies aimed at increasing renewable energy's share in the overall energy mix.

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Market Size of United Kingdom Power EPC Industry

Jet Fuel Market - Market Summary
Study Period 2020 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2020 - 2022
CAGR 2.08 %
Market Concentration High

Major Players

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*Disclaimer: Major Players sorted in no particular order

UK Power EPC Market Analysis

United Kingdom’s electricity system is witnessing a period of significant change as the country is undergoing a transitionfromalarge-scaleconventionalfossilfueldominated generationmix to intermittentrenewablegeneration. The installedpowergenerationcapacityoftheUnitedKingdom is expected to growat a CAGR of approximately 2.08% during the forecast period of 2019-2024. The growth is anticipated on account of a rising development of power generation systems, spurred by increasing demand for electricity in the country. However, the phasing out of coal-based power plants in the country, which had a major effect on demand for EPC services, a major source of revenue is being removed and in turn, is expected to hinder the growth of the market studied in the coming years.

  • Over 13 GW capacity through interconnectors is planned for the UK to countries, such as France, Irelands, and the Netherlands with several projects expected to be commissioned in the coming years. This, in turn, is expected to significant opportunities for EPC services in the country in the future.
  • The renewable energy sector is expected to witness a significant growth in the coming years owing to the country’s efforts and policies to increase the share of renewable energy sources in the energy mix.

UK Power EPC Industry Segmentation

The United Kingdom power EPC market report include:

Sector
Power Generation
Thermal
Hydroelectric
Nuclear
Renewables
Key Projects
Existing Infrastructure
Upcoming Projects
Projects in the Pipeline
Power Transmission and Distribution
Key Projects
Existing Infrastructure
Upcoming Projects
Projects in the Pipeline
List of EPC Developers
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United Kingdom Power EPC Market Size Summary

The United Kingdom's power EPC market is undergoing a transformative phase as the country shifts from a fossil fuel-dominated energy generation mix to a more renewable-centric approach. This transition is driven by increasing electricity demand and supportive government policies aimed at enhancing the share of renewable energy sources. The market is expected to experience growth, albeit with challenges due to the phasing out of coal-based power plants, which has historically been a significant source of revenue for EPC services. Despite this, the development of interconnectors with countries like France, Ireland, and the Netherlands presents substantial opportunities for EPC services in the future. The renewable energy sector, in particular, is poised for significant expansion, supported by national and international incentives, such as the EU Renewable Energy Directive and the UK's commitment to achieving a net-zero state by 2050.

The UK's energy landscape is increasingly characterized by a rise in production and consumption of renewable energy, driven by declining costs of solar equipment and advancements in energy storage systems. Government initiatives, including the Carbon Tax on thermal power plants and the Contracts for Difference mechanism, are further bolstering the demand for renewable energy. The market is also witnessing a shift as coal-based power plants are being converted into bioenergy facilities, aligning with the country's carbon-free energy generation goals. The power EPC market in the UK is fragmented, with key players such as Ramboll UK Limited, Amec Foster Wheeler (Wood Group), Fluor Ltd, Doosan Babcock Ltd, and Bechtel Corporation actively participating in this evolving landscape.

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United Kingdom Power EPC Market Size - Table of Contents

  1. 1. MARKET OVERVIEW

    1. 1.1 Introduction

    2. 1.2 Installed Power Capacity Forecast in GW, till 2024

    3. 1.3 Power EPC Tendering Process

    4. 1.4 Recent Trends and Developments

    5. 1.5 Investment Opportunities and CAPEX analysis

    6. 1.6 Government Policies, Regulations, and Targets

    7. 1.7 Market Dynamics

      1. 1.7.1 Drivers

      2. 1.7.2 Restraints

    8. 1.8 PESTLE Analysis

  2. 2. MARKET SEGMENTATION

    1. 2.1 Sector

      1. 2.1.1 Power Generation

        1. 2.1.1.1 Thermal

        2. 2.1.1.2 Hydroelectric

        3. 2.1.1.3 Nuclear

        4. 2.1.1.4 Renewables

        5. 2.1.1.5 Key Projects

          1. 2.1.1.5.1 Existing Infrastructure

          2. 2.1.1.5.2 Upcoming Projects

          3. 2.1.1.5.3 Projects in the Pipeline

      2. 2.1.2 Power Transmission and Distribution

        1. 2.1.2.1 Key Projects

          1. 2.1.2.1.1 Existing Infrastructure

          2. 2.1.2.1.2 Upcoming Projects

          3. 2.1.2.1.3 Projects in the Pipeline

      3. 2.1.3 List of EPC Developers

United Kingdom Power EPC Market Size FAQs

The United Kingdom Power EPC Market is projected to register a CAGR of 2.08% during the forecast period (2024-2029)

Ramboll UK Limited, Amec Foster Wheeler (Wood Group), Fluor Ltd, Doosan Babcock Ltd and Bechtel Corporation are the major companies operating in the United Kingdom Power EPC Market.

Power EPC Market in UK Report Snapshots

UK Power EPC Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)