Power Plant EPC Market: Global Industry Analysis and Forecast (2021-2027)

The Power Plant EPC refers to engineering, procurement and construction process. The core to this concept is that one organization, the contractor, handles practically all parts of the project and serves as the owner's single point of contact and accountability. The contractors carry out detailed design and layout of a project right from manufacture of systems and functional testing to procurement of materials and equipment to deliver a functioning asset or facility to their clients. As a result of significant shifts in the business and technology areas of this industry, the use of EPC contracts in the power generation industry has been steadily evolving over the last several years. EPC contracts are used in almost all power production projects.

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