Press Release

UAE EPC Power Market is Dominated by Abu Dhabi During the Forecast Period 2024-2028

The gradual transition away from oil and gas towards renewable energy sources such as solar, wind, and bioenergy would be the primary driver of the UAE EPC power market during the projected period of 2024-2028.

According to TechSci Research report,EPC Power Market - UAE Industry Size, Share, Trends, Opportunity, and Forecast, 2018–2028”, the country has invested heavily in the development of renewable energies, such as solar and wind, as well as in other energy sources.  The UAE EPC power market is a highly competitive market with a variety of companies offering energy efficiency and power services. These companies offer a range of services, including solar photovoltaic (PV) systems, wind generation, and distributed energy sources (DES). Additionally, many of these companies offer services related to the design, installation, and maintenance of efficient energy systems. Companies in this sector focus on energy storage and demand-side management.  The UAE EPC power market is experiencing numerous drivers and trends. First and foremost, UAE is committed to achieving energy efficiency by promoting the use of renewable energies and other energy sources. The country is encouraging companies to invest in energy efficiency initiatives, such as renewable energy and energy storage, and is providing incentives for businesses that do so. Furthermore, the government has set aggressive goals for energy efficiency and has put measures in place to ensure that these goals are met.  UAE’s swift growth in its EPC power market has been due to its diversified sources of energy. It is focusing on renewable energy sources, such as solar and wind energy, along with traditional sources such as oil and gas. As a result, the UAE is increasingly tapping into a variety of energy sources to power its ever-growing population and develop its economy.

One of the main components of the UAE’s Energy Strategy 20-year plan is to double the efficiency of its power sector. This is being achieved through various initiatives such as the introduction of an independent regulator, the introduction of new EPC policies and regulations, and the introduction of new technologies and practices.

The UAE’s commitment to double its energy output makes the EPC market increasingly competitive, as there is a growing number of players in the market. These players include international EPC providers, which offer a range of services in project development. The country's commitment to energy efficiency and the introduction of new technologies are driving the market forward, and there is increasing demand for energy services and solutions. This expansion will attract investments in renewables in the nation, strengthening the UAE EPC power market throughout the projection period.

Browse over XX market data Figures spread through XX Pages and an in-depth TOC on the "UAE EPC Power Market

UAE EPC Power Market is divided based on technology, end-user, application, and services. Based on technology, the market is further bifurcated into thermal, oil & gas, renewable, nuclear, and others. Based on end-user, the market is divided into residential, commercial, and industrial. Based on application, the market is divided into grid-connected power system and off-grid power system. Based on Service, the market is divided into engineering, procurement, construction, operations, and  maintenance services. The market analysis studies the regional segmentation to devise regional market segmentation, divided among Dubai, Abu Dhabi, Sharjah, and rest of UAE.

The UAE is home to one of the world's largest solar power projects, the Mohammed bin Rashid Al Maktoum Solar Park. This project aims to reach a total capacity of 5,000 megawatts (MW) by 2030, contributing to the UAE's goal of increasing the share of renewable energy in its energy mix. UAE has diversified its energy mix through the development of nuclear power plants. The Barakah Nuclear Energy Plant, comprising four reactors, is the UAE's first nuclear power project and is expected to provide a significant contribution to the country's electricity needs. The UAE aims to enhance energy efficiency and reduce carbon emissions. EPC companies are expected to incorporate innovative and sustainable technologies, such as energy-efficient equipment, smart buildings, and advanced monitoring systems, to achieve these goals.

Key market players in the UAE EPC power market include: 

  • Abu Dhabi National Energy Company (TAQA)
  • GE Power and Water Middle East and Africa
  • Abu Dhabi Future Energy Company (Masdar)
  • Siemens LLC UAE
  • Hitachi ABB Power Grids UAE
  • Mitsubishi Electric Power Products Middle East
  • L&T ELECTRICAL AND AUTOMATION (E&A) – UAE
  • SUMITOMO CORPORATION MIDDLE EAST FZE
  • Jinko Solar Trading (Dubai) Co., Ltd

 

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The UAE EPC (Engineering, Procurement, and Construction) power market has noted its stability and growth potential in recent years. It cite the country's investment in infrastructure with favorable laws and regulations, as key factors in the market's development. With an expected increase in the number of projects and investments, the UAE EPC power market is expected to continue its positive trajectory in the coming years. During the projection period, sophisticated and efficient technologies such as supercritical and ultra-supercritical coal power plants, as well as the government's intention to increase renewable energy contribution, are likely to provide many chances for the UAE EPC power market. Increasing power-related projects throughout the world are likely to boost UAE EPC power market growth over the forecast period,” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.

UAE EPC Power Market By Technology (Thermal, Oil & Gas, Renewable, Nuclear, Others), By End-User (Residential, Commercial, Industrial), By Application (Grid-Connected Power System, Off-Grid Power System), By Service (Engineering, Procurement, Construction, Operations & Maintenance Services), By Region, Forecast and Opportunities, 2028 has evaluated the future growth potential of UAE EPC Power Market and provides statistics & information on market size, structure, and future market growth. The report's goal is to give current market knowledge and assist decision makers in making informed investment decisions. Furthermore, the report identifies and analyses emerging trends, as well as key drivers, challenges, and opportunities in the UAE EPC Power Market.

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