North America Power EPC Market Report and Forecast 2025-2034
Description
The North America power EPC market size was valued at USD 145.73 Billion in 2024. The market is further projected to grow at a CAGR of 3.60% between 2025 and 2034, reaching a value of USD 207.56 Billion by 2034.
The demand forrenewable energyis increasing in North America, driven by the need to reduce carbon emissions and address climate change. This trend is expected to drive the North America power EPC market growth, as companies are investing in renewable energy projects such as wind and solar farms. ABB secured orders over USD 150 million for the Hornsea Project Two, a 1,400 MW project in the North Sea, will provide clean electricity for over 1.3 million homes annually, supporting the UK's renewable energy goals.
The existing power infrastructure in North America is ageing, and there is a need to modernise it to ensure reliable and efficient power supply. In the power EPC market, companies are investing in upgrading and expanding the existing power infrastructure.
The transmission and distribution networks are critical components of the power infrastructure, and there is a growing need to invest in these networks to ensure reliable and efficient power supply. Companies, such as Siemens AG has been involved in several transmission and distribution network projects in North America, including investment of USD 150 million in February 2024 to address the national shortage of power transformers across the U.S. This investment will increase domestic U.S. transformer production, enabling the reliable transmission of electricity over long distances and helping stabilise electrical transmission across regions.
As per North America power EPC market analysis, digital solutions such as advanced analytics,artificial intelligence, and machine learning are becoming increasingly important in the power EPC market. These solutions can help improve the efficiency and reliability of power generation and distribution and reduce costs. Companies are investing in digital solutions to improve their operations. Sterling and Wilson Private Limited has developed an AI-based predictive maintenance solution for power generation and distribution, which can help reduce downtime and maintenance costs.
Market Segmentation
North America Power EPC Market Report and Forecast 2025-2034 offers a detailed analysis of the market based on the following segments
Market Breakup by Type
Thermal
Oil and Gas
Renewable
Nuclear
Others
Market Breakup by Region
United States of America
Canada
Competitive Landscape
Market players are actively involved in expanding their market reach through strategic agreements and offerings of additional services like energy storage integration and O&M solutions.
Mitsubishi Heavy Industries, Ltd.
McDermott International Ltd.
Fluor Corporation
Bechtel Corporation
DEPCOM Power, Inc.
Blue Ridge Power
Blattner Energy Inc.
Quanta Services, Inc.
The Shaw Group Inc.
Sentry Electrical Group, Inc.
Others
The demand forrenewable energyis increasing in North America, driven by the need to reduce carbon emissions and address climate change. This trend is expected to drive the North America power EPC market growth, as companies are investing in renewable energy projects such as wind and solar farms. ABB secured orders over USD 150 million for the Hornsea Project Two, a 1,400 MW project in the North Sea, will provide clean electricity for over 1.3 million homes annually, supporting the UK's renewable energy goals.
The existing power infrastructure in North America is ageing, and there is a need to modernise it to ensure reliable and efficient power supply. In the power EPC market, companies are investing in upgrading and expanding the existing power infrastructure.
The transmission and distribution networks are critical components of the power infrastructure, and there is a growing need to invest in these networks to ensure reliable and efficient power supply. Companies, such as Siemens AG has been involved in several transmission and distribution network projects in North America, including investment of USD 150 million in February 2024 to address the national shortage of power transformers across the U.S. This investment will increase domestic U.S. transformer production, enabling the reliable transmission of electricity over long distances and helping stabilise electrical transmission across regions.
As per North America power EPC market analysis, digital solutions such as advanced analytics,artificial intelligence, and machine learning are becoming increasingly important in the power EPC market. These solutions can help improve the efficiency and reliability of power generation and distribution and reduce costs. Companies are investing in digital solutions to improve their operations. Sterling and Wilson Private Limited has developed an AI-based predictive maintenance solution for power generation and distribution, which can help reduce downtime and maintenance costs.
Market Segmentation
North America Power EPC Market Report and Forecast 2025-2034 offers a detailed analysis of the market based on the following segments
Market Breakup by Type
Thermal
Oil and Gas
Renewable
Nuclear
Others
Market Breakup by Region
United States of America
Canada
Competitive Landscape
Market players are actively involved in expanding their market reach through strategic agreements and offerings of additional services like energy storage integration and O&M solutions.
Mitsubishi Heavy Industries, Ltd.
McDermott International Ltd.
Fluor Corporation
Bechtel Corporation
DEPCOM Power, Inc.
Blue Ridge Power
Blattner Energy Inc.
Quanta Services, Inc.
The Shaw Group Inc.
Sentry Electrical Group, Inc.
Others
Table of Contents
123 Pages
- 1 Executive Summary
- 1.1 Market Size 2024-2025
- 1.2 Market Growth 2025(F)-2034(F)
- 1.3 Key Demand Drivers
- 1.4 Key Players and Competitive Structure
- 1.5 Industry Best Practices
- 1.6 Recent Trends and Developments
- 1.7 Industry Outlook
- 2 Market Overview and Stakeholder Insights
- 2.1 Market Trends
- 2.2 Key Verticals
- 2.3 Key Countries
- 2.4 Supplier Power
- 2.5 Buyer Power
- 2.6 Key Market Opportunities and Risks
- 2.7 Key Initiatives by Stakeholders
- 3 Economic Summary
- 3.1 GDP Outlook
- 3.2 GDP Per Capita Growth
- 3.3 Inflation Trends
- 3.4 Democracy Index
- 3.5 Gross Public Debt Ratios
- 3.6 Balance of Payment (BoP) Position
- 3.7 Population Outlook
- 3.8 Urbanisation Trends
- 4 Country Risk Profiles
- 4.1 Country Risk
- 4.2 Business Climate
- 5 Global Power EPC Market Overview
- 5.1 Key Industry Highlights
- 5.2 Global Power EPC Historical Market (2018-2024)
- 5.3 Global Power EPC Market Forecast (2025-2034)
- 5.4 Global Power EPC Market Share by Region
- 5.4.1 North America
- 5.4.2 Europe
- 5.4.3 Asia Pacific
- 5.4.4 Latin America
- 5.4.5 Middle East and Africa
- 6 North America Power EPC Market Overview
- 6.1 Key Industry Highlights
- 6.2 North America Power EPC Historical Market (2018-2024)
- 6.3 North America Power EPC Market Forecast (2025-2034)
- 7 North America Power EPC Market by Type
- 7.1 Thermal
- 7.1.1 Historical Trend (2018-2024)
- 7.1.2 Forecast Trend (2025-2034)
- 7.2 Oil and Gas
- 7.2.1 Historical Trend (2018-2024)
- 7.2.2 Forecast Trend (2025-2034)
- 7.3 Renewable
- 7.3.1 Historical Trend (2018-2024)
- 7.3.2 Forecast Trend (2025-2034)
- 7.4 Nuclear
- 7.4.1 Historical Trend (2018-2024)
- 7.4.2 Forecast Trend (2025-2034)
- 7.5 Others
- 8 North America Power EPC Market by Country
- 8.1 United States of America
- 8.1.1 Historical Trend (2018-2024)
- 8.1.2 Forecast Trend (2025-2034)
- 8.2 Canada
- 8.2.1 Historical Trend (2018-2024)
- 8.2.2 Forecast Trend (2025-2034)
- 9 Market Dynamics
- 9.1 SWOT Analysis
- 9.1.1 Strengths
- 9.1.2 Weaknesses
- 9.1.3 Opportunities
- 9.1.4 Threats
- 9.2 Porter’s Five Forces Analysis
- 9.2.1 Supplier’s Power
- 9.2.2 Buyer’s Power
- 9.2.3 Threat of New Entrants
- 9.2.4 Degree of Rivalry
- 9.2.5 Threat of Substitutes
- 9.3 Key Indicators of Demand
- 9.4 Key Indicators of Price
- 10 Competitive Landscape
- 10.1 Supplier Selection
- 10.2 Key Global Players
- 10.3 Key Regional Players
- 10.4 Key Player Strategies
- 10.5 Company Profiles
- 10.5.1 Mitsubishi Heavy Industries, Ltd.
- 10.5.1.1 Company Overview
- 10.5.1.2 Product Portfolio
- 10.5.1.3 Demographic Reach and Achievements
- 10.5.1.4 Certifications
- 10.5.2 McDermott International Ltd.
- 10.5.2.1 Company Overview
- 10.5.2.2 Product Portfolio
- 10.5.2.3 Demographic Reach and Achievements
- 10.5.2.4 Certifications
- 10.5.3 Fluor Corporation
- 10.5.3.1 Company Overview
- 10.5.3.2 Product Portfolio
- 10.5.3.3 Demographic Reach and Achievements
- 10.5.3.4 Certifications
- 10.5.4 Bechtel Corporation
- 10.5.4.1 Company Overview
- 10.5.4.2 Product Portfolio
- 10.5.4.3 Demographic Reach and Achievements
- 10.5.4.4 Certifications
- 10.5.5 DEPCOM Power, Inc.
- 10.5.5.1 Company Overview
- 10.5.5.2 Product Portfolio
- 10.5.5.3 Demographic Reach and Achievements
- 10.5.5.4 Certifications
- 10.5.6 Blue Ridge Power
- 10.5.6.1 Company Overview
- 10.5.6.2 Product Portfolio
- 10.5.6.3 Demographic Reach and Achievements
- 10.5.6.4 Certifications
- 10.5.7 Blattner Energy Inc.
- 10.5.7.1 Company Overview
- 10.5.7.2 Product Portfolio
- 10.5.7.3 Demographic Reach and Achievements
- 10.5.7.4 Certifications
- 10.5.8 Quanta Services, Inc.
- 10.5.8.1 Company Overview
- 10.5.8.2 Product Portfolio
- 10.5.8.3 Demographic Reach and Achievements
- 10.5.8.4 Certifications
- 10.5.9 The Shaw Group Inc.
- 10.5.9.1 Company Overview
- 10.5.9.2 Product Portfolio
- 10.5.9.3 Demographic Reach and Achievements
- 10.5.9.4 Certifications
- 10.5.10 Sentry Electrical Group, Inc.
- 10.5.10.1 Company Overview
- 10.5.10.2 Product Portfolio
- 10.5.10.3 Demographic Reach and Achievements
- 10.5.10.4 Certifications
- 10.5.11 Others
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