India Power EPC Market Size, Share, Trends and Forecast by Type and Region, 2025-2033

Report Format: PDF+Excel | Report ID: SR112025A30257

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India Power EPC Market Overview:

The India power EPC market size reached USD 22.4 Billion in 2024. Looking forward, IMARC Group expects the market to reach USD 39.1 Billion by 2033, exhibiting a growth rate (CAGR) of 6.4% during 2025-2033. The market is growing due to increasing renewable energy projects, rising energy storage investments, and government initiatives. Moreover, large-scale solar and battery storage projects are driving demand, enhancing grid stability, and expanding opportunities for EPC companies in power transmission and clean energy infrastructure development.

Report Attribute	Key Statistics
Base Year	2024
Forecast Years	2025-2033
Historical Years	2019-2024
Market Size in 2024	USD 22.4 Billion
Market Forecast in 2033	USD 39.1 Billion
Market Growth Rate 2025-2033	6.4%

India Power EPC Market Trends:

Expanding Renewable Energy Infrastructure

India's EPC power industry is experiencing significant growth as there is growing interest in the development of renewable energy. Solar projects on a massive scale are being promoted by declining solar energy costs, policy push, and initiatives by the government. Growing demand for green power solutions has stimulated investments in solar infrastructure, with it being the major driver for the EPC industry. In addition, developers prefer high-capacity projects for achieving national energy goals and breaking the country's dependence on fossil fuels. For example, in December 2024, Coal India Ltd (CIL) issued an EPC tender for a 1 GW solar project in Rajasthan’s Rajya Vidyut Utpadan Nigam Ltd solar park. This project aims to enhance renewable energy generation, support domestic solar manufacturing, and provide new opportunities for EPC contractors. The large-scale capacity requirement encourages innovation in engineering, procurement, and construction methodologies, ensuring efficiency and long-term reliability. The development of such projects strengthens India’s position in the global renewable energy market and accelerates clean energy adoption. As more solar parks and grid-scale renewable projects are introduced, EPC firms will continue to expand their expertise and technological capabilities. This shift not only contributes to energy security but also opens avenues for job creation and economic growth in the power sector.

India Power EPC Market Size

Rising Investments in Energy Storage

Energy storage is becoming an essential component of India’s power infrastructure, driven by the need to balance renewable energy generation and ensure grid stability. As solar and wind power adoption increases, efficient energy storage solutions are required to manage supply fluctuations and improve power reliability. Large-scale battery energy storage systems (BESS) are gaining traction, enabling better integration of renewable energy into the grid while reducing transmission losses. In July 2024, Sterling and Wilson Renewable Energy Ltd (SWREL) secured an EPC contract for India’s largest 1,000 MWh standalone BESS project in Rajasthan. This project represents a major step toward strengthening India’s energy storage infrastructure, ensuring better power availability, and supporting the transition to a sustainable energy system. The growing demand for large-scale storage projects is prompting EPC firms to enhance their capabilities in designing and implementing advanced storage technologies. With increasing investments in energy storage, India’s power EPC market is evolving to accommodate emerging technologies and hybrid energy solutions. The expansion of grid-connected storage projects will further drive efficiency in renewable power distribution, reducing curtailment issues. As more such projects are developed, EPC players specializing in energy storage will gain a competitive edge, fostering innovation and long-term growth in the sector.

India Power EPC Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the region/country level for 2025-2033. Our report has categorized the market based on type.

Type Insights:

Thermal
Gas
Renewable
Nuclear
Others

The report has provided a detailed breakup and analysis of the market based on the type. This includes thermal, gas, renewable, nuclear, and others.

Region Insights:

North India
South India
East India
West India

The report has also provided a comprehensive analysis of all the major regional markets, which include North India, South India, East India, and West India.

Competitive Landscape:

The market research report has also provided a comprehensive analysis of the competitive landscape. Competitive analysis such as market structure, key player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided.

India Power EPC Market News:

February 2025: Power Mech Projects secured an INR 164.63 Crore order from BHEL for the 1600 MW DVC Koderma Thermal Power Station Phase-II EPC project. Covering design, engineering, supply, civil works, and commissioning, this strengthens India's power EPC sector, boosting project execution capabilities and infrastructure expansion.
January 2025: Hartek Group secured an INR 117 Crore power EPC project from PGCIL in Gujarat, involving a 765kV AIS substation and a 400/220kV substation. This strengthens India's transmission infrastructure, enhances grid stability, and supports renewable energy integration, reinforcing Hartek’s position in the high-voltage EPC sector.

India Power EPC Market Report Coverage:

Report Features	Details
Base Year of the Analysis	2024
Historical Period	2019-2024
Forecast Period	2025-2033
Units	Billion USD
Scope of the Report	Exploration of Historical Trends and Market Outlook, Industry Catalysts and Challenges, Segment-Wise Historical and Future Market Assessment: Type Region
Types Covered	Thermal, Gas, Renewable, Nuclear, Others
Regions Covered	North India, South India, East India, West India
Customization Scope	10% Free Customization
Post-Sale Analyst Support	10-12 Weeks
Delivery Format	PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

Key Questions Answered in This Report:

How has the India power EPC market performed so far and how will it perform in the coming years?
What is the breakup of the India power EPC market on the basis of type?
What are the various stages in the value chain of the India power EPC market?
What are the key driving factors and challenges in the India power EPC?
What is the structure of the India power EPC market and who are the key players?
What is the degree of competition in the India power EPC market?

Key Benefits for Stakeholders:

IMARC’s industry report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the India power EPC market from 2019-2033.
The research report provides the latest information on the market drivers, challenges, and opportunities in the India power EPC market.
Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the India power EPC industry and its attractiveness.
Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.

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India Power EPC Market