Qatar Power EPC Market By Type (Thermal, Oil & Gas, Renewable, Nuclear, Others), By Component (Engineering Design, Procurement, Construct), By Region, Competition Forecast & Opportunities, 2028F

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Summary

Report Description

Qatar Power EPC Market is anticipated to grow at a high CAGR in the forecast period 2024-2028. In Qatar, EPC contracts are commonly utilized to create power from various resources, both renewable and non-renewable. These contracts are "turnkey," meaning that an external contractor takes complete responsibility for designing and constructing the power generation units to the client's specifications. The contractor oversees the project from the initial development phase to the final fabrication of the facility, which is ready for operation. EPC contracts differ from build-to-order units, which are customized to the client's needs. After signing the EPC contract, the contractor is responsible for the entire project development until completion, when it is then handed over to the client. Due to population growth, urbanization, and increased industrial expansion, the demand for power has risen, resulting in significant investments being made in the global power engineering, procurement, and construction (EPC) sector.

Qatar’s government is promoting private enterprises and international investment to help reduce its economic shortfalls. If the government takes efforts to liberalise the power business, local and foreign private investors will be able to invest in the country and relieve the strain on government-owned power firms. As a result of the privatisation of the power industry, the Qatar power EPC market is projected to benefit soon.

The Qatar power EPC market is experiencing significant growth due to the country's increasing demand for electricity to support its rapidly expanding population and economy. The market is characterized by a rising investment in the creation of power generation facilities that utilize both renewable and non-renewable sources of energy. The demand for consistent energy supply is being driven by the growing digitization and dependence on power-operated equipment in various critical industries. EPC contracts are favoured in Qatar due to the contractors' expertise in creating more efficient production units. The contractors have access to the best subcontractors, raw material vendors, cost-effective procurement channels, specific technological tools, and human resources. Qatar is also investing heavily in the development of EPC POWER projects, which is expected to further fuel growth in the power EPC market. Overall, the Qatar power EPC market presents lucrative opportunities for investors, contractors, and vendors in the power generation industry.

Increasing Number of Contractual Enterprises to Stimulate Market Expansion

In Qatar, there is an increasing investment in creating power generation facilities that use renewable sources of energy as well as a continued need for non-renewable sources that have traditionally been responsible for generating a significant portion of power. The demand for a reliable energy supply is being driven by the growing digitization and dependence on power-operated equipment in critical industries such as healthcare, building construction, and food and textiles. The global population, which is almost 7 billion, is also a significant factor contributing to the rise in energy consumption. EPC contracts are the preferred choice for facility building in Qatar because they allow contractors to utilize their expertise to create more efficient production units. EPC contractors are preferred for large-scale investments because they have access to the best subcontractors, raw material vendors, and cost-effective procurement channels, as well as specific technological tools and human resources. Qatar is also contributing significantly to the EPC POWER market's growth by generating a significant volume of EPC POWER.


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The Market is Likely to Be Driven by Rapid Domestic Demand

Power demand in the country is expanding at a rapid pace. In tandem with this expansion, the power generating industry has seen major capacity expansions. As the power production industry has developed, so has the need for expansion and upgrading of transmission infrastructure, resulting in increased investment in this sector. The following variables are driving the expansion of transmission and distribution infrastructure.

With the rise of the industrial sector, notably in the last five years, and increased infrastructure construction aimed at the FIFA World Cup 2022, power consumption has increased at a pace considerably above 7% in recent years. To fulfil this demand, the power generation industry increased their capacity significantly.

Power EPCs' Technological Development is Boosting the Market's Growth

The technological development of power engineering, procurement, and construction (EPC) companies is playing a significant role in driving the growth of the Qatar EPC power market. Qatar, as a rapidly developing nation with ambitious infrastructure projects and a growing population, has a surging demand for reliable and efficient power supply. In this context, the advancements in technology by power EPCs are crucial for meeting these demands and facilitating the country's economic growth.

Firstly, power EPCs are leveraging cutting-edge technologies in the design and construction of power plants, transmission lines, and substations. These advancements enable the development of state-of-the-art facilities that enhance power generation, transmission, and distribution capabilities. For example, the utilization of advanced turbine technology in power plants allows for higher efficiency, reduced emissions, and increased power output. Similarly, the implementation of smart grid solutions enables better monitoring, control, and management of the power infrastructure, leading to improved reliability and grid stability.

Secondly, the integration of renewable energy sources into the power mix is a significant focus of technological development by power EPCs in Qatar. As the world shifts towards sustainable and environmentally friendly energy solutions, Qatar is actively pursuing renewable energy projects. Power EPCs are at the forefront of deploying solar, wind, and other renewable energy technologies, ensuring a diversified and cleaner power generation portfolio. Advanced solar panels, wind turbines, and energy storage systems are being deployed to harness Qatar's abundant renewable energy resources efficiently.

Furthermore, digitalization and automation are revolutionizing the power sector, and power EPCs are driving this transformation. Through the adoption of digital technologies, such as artificial intelligence, Internet of Things (IoT), and data analytics, power EPCs are optimizing plant operations, predictive maintenance, and energy management. These technologies enable real-time monitoring, remote control, and efficient asset utilization, resulting in cost savings, increased productivity, and reduced downtime. Moreover, power EPCs' technological advancements are not limited to the construction phase but also extend to the operation and maintenance of power infrastructure. Advanced asset management systems, condition monitoring technologies, and predictive maintenance algorithms enable proactive identification of faults, timely repairs, and optimal performance of power assets. These advancements enhance the reliability, safety, and longevity of the power infrastructure, ensuring uninterrupted power supply to meet Qatar's growing demands.

Although the transmission and distribution sector in Qatar is 100% owned by the state-owned organization, Kahramaa (which does not allow private investment in this sector), there has been a massive inflow of investments in the sector due to increasing power demand and developments in the power generation industry. Despite having a well-established grid infrastructure connecting 100% of the population, electricity demand in the country is increasing at a substantial rate, leading to significant capacity additions in the power generation sector and a need for expansion and upgradation of the transmission infrastructure. This need is being driven by the growth of the industrial sector, infrastructure development for the FIFA World Cup 2022, and a rise in electricity demand, which has grown at a rate of over 7% in the past few years. With several power generation projects under-construction and in the pipeline, the demand for the transmission and distribution infrastructure is expected to continue to grow during the forecast period.

Recent Development

  • In August 2022, Qatar Energy said that its affiliate QatarEnergy Renewable Solutions has granted South Korea's Samsung C&T the Engineering, Procurement, and Construction (EPC) contract for its Industrial Cities (IC) solar power project.
  • The IC Solar project, worth approximately 2.3 billion Qatari riyals ($632 million), consists of two large-scale photovoltaic (PV) solar power plants with a combined capacity of 875 megawatts (MW). It is Qatar's second utility-scale solar project, following the 800 MWp Al Kharsaa Solar PV Independent Power Plant (IPP), which is currently under construction.
  • In Feb 2021, POWERCHINA Guizhou Engineering Co., Ltd, a subsidiary of Power Construction Corporation of China (POWERCHINA), has secured an EPC contract in Dubai for an 800.15-megawatt solar power plant in Halsa, Qatar, with Marubeni Corporation of Japan and Total Corporation of France.

Market Segments

The Qatar Power EPC market is segmented into Type, Component, and Region. Based on Type, the market is segmented into Thermal, Oil & Gas, Renewable, Nuclear and Others. Based on Component, the market is divided into Engineering Design, Procurement, and Construct. Based on region, the market is divided among Al Dawhah (Doha), Al Rayyan, Al Khor, and Al Wakrah.

Market Players

Major market players of Qatar Power EPC Market are El Sewedy Electric Co SAE, Siemens AG, Samsung C&T Corp., Yokogawa Electric Corporation, LARSEN & TOUBRO LIMITED, Mott Macdonald Group Ltd, Mitsubishi Electric Corporation, ABB LTD, QatarEnergy Renewable Solutions, POWERCHINA Guizhou Engineering Co., Ltd To achieve good market growth, businesses that are active in the market employ organic tactics such as product launches, mergers, and partnerships.

Attribute

Details

Base Year

2022

Historic Data

2018 – 2021

Estimated Year

2023

Forecast Period

2024 – 2028

Quantitative Units

Revenue in USD Million, and CAGR for 2018-2022 and 2023-2028

Report coverage

Revenue forecast, company share, growth factors, and trends

Segments covered

By Type

By Component

By Region

Regional scope

Al Dawhah (Doha), Al Rayyan, Al Khor, Al Wakrah, Al Daayen, Umm Salal, Al Shamal

Key companies profiled

El Sewedy Electric Co SAE, Siemens AG, Samsung C&T Corp., Yokogawa Electric Corporation, LARSEN & TOUBRO LIMITED, Mott Macdonald Group Ltd, Mitsubishi Electric Corporation, ABB LTD, QatarEnergy Renewable Solutions, POWERCHINA Guizhou Engineering Co., Ltd

Customization scope

10% free report customization with purchase. Addition or alteration to country, regional & segment scope.

Pricing and purchase options

Avail customized purchase options to meet your exact research needs. Explore purchase options

Delivery Format

PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

Report Scope:

In this report, Qatar Power EPC Market has been segmented into following categories, in addition to the industry trends which have also been detailed below:

·         Power EPC Market, By Type

o   Thermal

o   Oil & Gas

o   Renewable

o   Nuclear

o   Others

·         Power EPC Market, By Component

o   Engineering Design

o   Procurement

o   Construct

·         Power EPC Market, By Region:

o   Al Dawhah (Doha)

o   Al Rayyan

o   Al Khor

o   Al Wakrah

o   Al Daayen

o   Umm Salal

o   Al Shamal

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in Qatar Power EPC Market

Available Customizations:

Qatar Power EPC Market with the given market data, Tech Sci Research offers customizations according to a company’s specific needs. The following customization options are available for the report:

Company Information

  • Detailed analysis and profiling of additional market players (up to five).

Qatar Power EPC Market is an upcoming report to be released soon. If you wish an early delivery of this report or want to confirm the date of release, please contact us at [email protected]

Table of content

1.    Product Overview

1.1.     Market Definition

1.2.     Scope of the Market

1.2.1.    Markets Covered

1.2.2.    Years Considered for Study

1.2.3.    Key Market Segmentations

2.    Research Methodology

2.1. Objective of the Study

2.2. Baseline Methodology

2.3. Key Industry Partners

2.4. Major Association and Secondary Sources

2.5. Forecasting Methodology

2.6. Data Triangulation & Validation

2.7. Assumptions and Limitations

3.    Executive Summary

4.    Voice of Customer

4.1. Brand Awareness

4.2. Key Factors for Selecting Vendor

4.3. Key Satisfaction Level

4.4. Key Challenges Faced

5.    Qatar Power EPC Market Outlook

5.1. Market Size & Forecast

5.1.1.    By Value

5.2. Market Share & Forecast

5.2.1.    By Type (Thermal, Oil & Gas, Renewable, Nuclear and Others)

5.2.2.    By Component (Engineering Design, Procurement, Construct)

5.2.3.    By Region (Al Dawhah (Doha), Al Rayyan, Al Khor, Al Wakrah, Al Daayen, Umm Salal, Al Shamal)

5.2.4.    By Company

5.3. Market Map

6.    Al Dawhah (Doha) Market Outlook

6.1. Market Size & Forecast

6.1.1.    By Value

6.2. Market Share & Forecast

6.2.1.    By Type

6.2.2.    By Component

7.    Al Rayyan Market Outlook

7.1. Market Size & Forecast

7.1.1.    By Value

7.2. Market Share & Forecast

7.2.1.    By Type

7.2.2.    By Component

8.    Al Khor Market Outlook

8.1. Market Size & Forecast

8.1.1.    By Value

8.2.  Market Share & Forecast

8.2.1.    By Type

8.2.2.    By Component

9.    Al Daayen Market Outlook

9.1.  Market Size & Forecast

9.1.1.    By Value

9.2.  Market Share & Forecast

9.2.1.    By Type

9.2.2.    By Component

10. Umm Salal Market Outlook

10.1.           Market Size & Forecast

10.1.1. By Value

10.2.           Market Share & Forecast

10.2.1. By Type

10.2.2. By Component

11. Al Shamal Market Outlook

11.1.           Market Size & Forecast

11.1.1. By Value

11.2.           Market Share & Forecast

11.2.1. By Type

11.2.2. By Component

12. Market Dynamics

12.1.  Drivers

12.1.1. Rising demand for electricity

12.1.2. Growing need for renewable energy

12.1.3. Increasing digitization and dependence on power-operated equipment

12.2.     Challenges

12.2.1. limited access to financing due to reduced liquidity in the market

12.2.2. market's dependence on non-renewable sources of energy

13. Market Trends & Developments

13.1.  increasing investments in smart grid technology

13.2.  The increasing focus on energy efficiency and the adoption of energy-efficient technologies

13.3.  the growing demand for electricity in the country

13.4.  efficient management of power supply and demand

14. Policy & Regulatory Landscape

15. Qatar Economic Profile

16. Company Profiles

14.1.           El Sewedy Electric Co SAE

14.1.1.    Business Overview

14.1.2.    Key Revenue (If Available)

14.1.3.    Recent Developments

14.1.4.    Key Personnel

14.1.5.    Key Product/Service Offered

14.2.            Siemens AG

14.2.1.    Business Overview

14.2.2.    Key Revenue (If Available)

14.2.3.    Recent Developments

14.2.4.    Key Personnel

14.2.5.    Key Product/Service Offered

14.3.        MITSUBISHI ELECTRIC CORPORATION

14.3.1.    Business Overview

14.3.2.    Key Revenue (If Available)

14.3.3.    Recent Developments

14.3.4.    Key Personnel

14.3.5.    Key Product/Service Offered

14.4.        Mott Macdonald Group Ltd

14.4.1.    Business Overview

14.4.2.    Key Revenue (If Available)

14.4.3.    Recent Developments

14.4.4.    Key Personnel

14.4.5.    Key Product/Service Offered

14.5.        ABB Ltd

14.5.1.    Business Overview

14.5.2.    Key Revenue (If Available)

14.5.3.    Recent Developments

14.5.4.    Key Personnel

14.5.5.    Key Product/Service Offered

14.6.        Samsung C&T Corp.

14.6.1.    Business Overview

14.6.2.    Key Revenue (If Available)

14.6.3.    Recent Developments

14.6.4.    Key Personnel

14.6.5.    Key Product/Service Offered

14.7.        Yokogawa Electric Corporation

14.7.1.    Business Overview

14.7.2.    Key Revenue (If Available)

14.7.3.    Recent Developments

14.7.4.    Key Personnel

14.7.5.    Key Product/Service Offered

14.8.        QatarEnergy Renewable Solutions

14.8.1.    Business Overview

14.8.2.    Key Revenue (If Available)

14.8.3.    Recent Developments

14.8.4.    Key Personnel

14.8.5.    Key Product/Service Offered

14.9.         LARSEN & TOUBRO LIMITED

14.9.1.    Business Overview

14.9.2.    Key Revenue (If Available)

14.9.3.    Recent Developments

14.9.4.    Key Personnel

14.9.5.    Key Product/Service Offered

14.10.        POWERCHINA Guizhou Engineering Co., Ltd

14.10.1. Business Overview

14.10.2. Key Revenue (If Available)

14.10.3. Recent Developments

14.10.4. Key Personnel

14.10.5. Key Product/Service Offered

15. Strategic Recommendations

15.1.    Fastest Growing Market by Type

15.2.    Dominating Market by Component

15.3.    Dominating Market by Region & Country

16. About Us & Disclaimer

Figures and Tables

Frequently asked questions

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Key market players are El Sewedy Electric Co SAE, Siemens AG, Samsung C&T Corp., Yokogawa Electric Corporation, LARSEN & TOUBRO LIMITED, Mott Macdonald Group Ltd, Mitsubishi Electric Corporation, ABB LTD, QatarEnergy Renewable Solutions, POWERCHINA Guizhou Engineering Co., Ltd

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The Engineering Design holds the dominant market share in 2022 due to more reliance on traditional in-house service implementation. It is due to increasing reliance on cloud-based services given their benefits, such as lower cost and easy scalability.

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Al Dawhah (Doha) region is the fastest-growing region in the Power EPC market due to developing IT industries and various government initiatives.

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Power Engineering, Procurement, and Construction (EPC) contracts have several advantages over other methods of building facilities for power generation. One of the main advantages is that EPC contracts are turnkey contracts, meaning that the contractor is responsible for the entire project, from the early phase of development through to the fabrication of the completed facility, ready for operation. This allows the client to focus on other aspects of their business, without the need to oversee the construction and management of the power facility.

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