Frequently Asked Questions
Q1) What is the CAGR & Market Value of the Global Power Generation EPC market during the forecasting period 2022-2029?
Ans) The global power generation EPC market is expected to grow at a CAGR during the forecast period (2020-2027). The global power generation EPC market value is likely to reach US$ 6,48,408.99 million in 2027, from its recorded value of US$ 3,88,454.16 million in 2019.
Q2) Which is the base year calculated in the Global Power Generation EPC market report?
Ans) The base year considered in the report is 2019.
Q3) EPC stands for, what is the key concept of it?
Ans) The term EPC stands for ‘Engineer, Procure and Construct.’ The key to this concept is that one organization, namely the contractor, undertakes virtually all aspects of the project and provides a single point of communication and responsibility for the owner.
Q4) What are the major factors driving the Global Power Generation EPC market?
- Increasing investment in power generation
- Increasing power-related projects especially in Asia-Pacific countries such as China, India, and Vietnam
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Q5) What is the major restraint for the Global Power Generation EPC market?
- Lack of productive output
Q6) What is the solar power capacity expected to reach by 2024 in the United States?
Ans) The United States is one of the major countries making huge investments in solar power generation. According to the IEA, the global solar power capacity is expected to reach 600GW by 2024.
Q7) What are the projects in the coming years by the United States?
Ans) The United States is spending the most on solar projects in the coming years.
- Texas - There are 45 projects scheduled.
- Nevada - Total solar project spend is estimated to rise to $9bn dollars by 2030.
- California - The solar capacity in the state will increase by 16,000 MW.
- New York - There are 14 projects scheduled.
- Virginia - 30,000 solar jobs are expected to be created.
Q8) What are the solar project going to start by USA 2021
Ans)The top five solar projects going to start in 2021 are listed below
- Pecan Prairie Solar Project
- Golden Triangle Solar Energy Centre
- Sunflower Solar PV Farm
- Commonwealth Solar Project
- Happy Solar Park
Q9) Which region is expected to grow high during the forecast period?
Ans) Asia-Pacific power generation EPC market is expected to grow with the highest CAGR of 8.4% during the forecast period, owing to governmental support, numerous incentives, and national targets.
Q10) What is the Market share of the top 7 companies in the global power generation EPC market?
Ans) The global power generation EPC market is fragmented, with the top 7 players accounting for a 50.88% share. The key players operating in the global power generation EPC market are Doosan Groups, Tata Projects, Worley Parsons, Fluor Corporation, and KBR Inc, among others.
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