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
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Key Statistics
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Base Year
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2024
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Forecast Years
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2025-2033
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Historical Years
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2019-2024
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Market Size in 2024 | USD 22.4 Billion |
Market Forecast in 2033 | USD 39.1 Billion |
Market Growth Rate 2025-2033 | 6.4% |
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.
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.
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:
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:
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.
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.
Report Features | Details |
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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:
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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:
Key Benefits for Stakeholders: