UAE Power EPC Market

UAE Power EPC Market Overview:

The UAE power EPC market is projected to exhibit a growth rate (CAGR) of 6.50% during 2024-2032. The market is driven by robust infrastructure investments, increasing energy demand, diversification into renewable energy sources, government initiatives for sustainable development, technological advancements, and strategic partnerships enhancing project efficiency and capacity expansion across the power sector.

UAE Power EPC Market Trends:

Robust Infrastructure Investments

The UAE's government has prioritized infrastructure development, allocating significant funds toward the power sector. This investment aims to enhance the nation's energy capacity to meet growing industrial and residential demands. The expansion of power generation facilities, transmission networks, and distribution systems are critical components of this strategy. These investments not only ensure a stable and reliable power supply but also create numerous opportunities for EPC companies to participate in large-scale projects, thus driving the market forward toward growth. For instance, according to industry reports, in July 2024, EDF, in partnership with Korean Western Power Company (KOWEPO), announced the awarding of an EPC contract for the 1.5-gigawatt (AC) Al Ajban Solar PV Independent Power Project. The contract was awarded to Powerchina Huadong Engineering Corporation Limited. Upon commencing commercial operations in Q3 2026, the Al Ajban Solar PV project will generate sufficient electricity to power 160,000 households across the UAE and is expected to reduce Abu Dhabi’s carbon emissions by 2.4 million metric tonnes annually.

Increasing Energy Demand

Rapid urbanization and industrialization in the UAE have led to a substantial increase in energy consumption. The country's population growth and economic expansion necessitate a robust and efficient power infrastructure. In order to address this, the government and private sectors are investing heavily in expanding and upgrading power plants, including renewable energy projects. This surge in the energy demand propels the need for advanced EPC services to design, procure, and construct the necessary power generation and distribution facilities, ensuring sustainable and reliable energy supply. For instance, in June 2024, L&T Construction announced that it has secured a major EPC contract to develop the largest solar power plant in the UAE. The 1800 MW plant in Dubai, part of the Mohammed bin Rashid Al Maktoum Solar Park's sixth phase, will span 20 square kilometers and reduce carbon emissions by 2.4 million metric tons annually. The project includes related infrastructure like gas substations and distribution networks. Masdar and DEWA are key partners, with DEWA holding a 60% stake. This solar park aims for a 5,000 MW capacity by 2030, supporting Dubai's Clean Energy Strategy 2050.

UAE Power EPC Market News:

• In May 2024, Abu Dhabi National Oil Company (Adnoc) of the UAE revealed a US$45 billion investment to construct the world's largest integrated refinery and petrochemicals complex. EPC contracts valued at $5.5 billion were awarded for the Ruwais project to a joint venture led by Technip Energies from France, JGC Corporation from Japan, and the UAE's NMDC Group. This initiative plans to add two new LNG liquefaction trains, effectively doubling the facility’s capacity to 9.6 million tonnes per annum, utilizing nuclear energy for reduced carbon emissions.
• In February 2023, Brooge Energy Ltd, a Cayman Islands-based company, announced a partnership with Siemens Energy to develop a green hydrogen and ammonia project in Abu Dhabi. The initiative involves building a 650 MW solar PV plant to supply renewable energy for Phase 1 of the project. Siemens Energy will provide EPC and maintenance services. This project supports the UAE's energy transition by promoting renewable energy, creating jobs, and reducing carbon emissions, highlighting the country's commitment to sustainable energy solutions.

UAE Power EPC Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the country level for 2024-2032. 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.

Regional Insights:

• Dubai
• Abu Dhabi
• Sharjah
• Others
   

The report has also provided a comprehensive analysis of all the major regional markets, which include Dubai, Abu Dhabi, Sharjah, and Others.

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.

UAE Power EPC Market Report Coverage:

Key Questions Answered in This Report:

• How has the UAE power EPC market performed so far and how will it perform in the coming years?
• What has been the impact of COVID-19 on the UAE power EPC market?
• What is the breakup of the UAE power EPC market on the basis of type?
• What are the various stages in the value chain of the UAE power EPC market? 
• What are the key driving factors and challenges in the UAE power EPC?
• What is the structure of the UAE power EPC market and who are the key players?
• What is the degree of competition in the UAE 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 UAE power EPC market from 2018-2032.
• The research report provides the latest information on the market drivers, challenges, and opportunities in the UAE 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 UAE 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.