The United States Power EPC Market reached USD 28.59 billion in 2024. With increasing energy infrastructure spending and a shift toward renewables, the market is expected to grow at a CAGR of 5.10%, reaching approximately USD 47.02 billion by 2034.
Power engineering, procurement, and construction (EPC) remain central to developing thermal, oil & gas, renewable, and nuclear power projects across the U.S.
United States Power EPC Market Overview
The United States Power EPC Market share covers turnkey projects including design, engineering, procurement, construction, and commissioning of large power generation facilities. Growing electrification, utility modernization, clean energy mandates, and grid resilience investments are fueling sustained demand for EPC services.
Market Segmentation by Type
Thermal
Traditional coal and gas-fired power plants continue to be built or retrofitted with clean-burning gas turbines. Thermal EPC projects support reliable baseload generation capacity.
Oil & Gas
Includes offshore and onshore gas- and oil-powered plants, as well as combined-cycle gas turbine (CCGT) installations that bridge the gap between fossil fuels and cleaner energy.
Renewable
Solar, wind (on- and offshore), biomass, and hydroelectric power plant EPC work is rapidly expanding in support of sustainability targets and federal tax credits.
Nuclear
Includes new small modular reactors (SMRs), nuclear plant refurbishments, and advanced reactor designs requiring specialized EPC services.
Others
Covers waste-to-energy, geothermal, hydrogen power facilities, and emerging technologies needing design-build capabilities.
These segments combined drive investment in the United States Power EPC Market through diverse generation portfolios.
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Regional Breakdown
New England: Peaceful nuclear and biomass projects; limited thermal plants but steady grid upgrades.
Mideast: High utility project investment in New York, Washington DC and mid-Atlantic states; combination of thermal and renewable EPC demand.
Great Lakes: Michigan, Ohio, and Illinois lead with thermal retrofits, combined-cycle plants, and emerging utility-scale solar.
Plains: Kansas and Nebraska see a surge in wind farm EPC, especially in EPC contracts for large turbine installations.
Southeast: Florida, Georgia, and the Carolinas invest heavily in solar, gas-fired peakers, and SMR feasibility programs.
Southwest: Texas remains a renewable hotbed; solar and large ERCOT grid projects dominate EPC spend.
Rocky Mountain: States like Utah and Colorado embrace geothermal and wind EPC programs, along with grid modernization.
Far West: California and Washington drive solar-thermal and offshore wind EPC activity, along with nuclear SMR planning—making the United States Power EPC Market deeply anchored in clean energy investment.
Leading Companies Covered
Major players shaping the United States Power EPC Market include global engineering giants and specialized power contractors:
Bechtel Corporation: World-renowned EPC contractor working on mega thermal, nuclear, and renewable power plants.
Mitsubishi Heavy Industries, Ltd.: Supplies gas turbine technology and EPC services for thermal and combined-cycle power projects.
DEPCOM Power, Inc.: EPC provider specializing in solar and battery energy storage systems.
McDermott International Ltd.: EPC specialist in offshore oil & gas plants, floating power, and industrial energy installations.
Fluor Corporation: Offers large-scale EPC in thermal generation, nuclear refueling, and grid upgrades.
Blue Ridge Power: Regional power system integrator working on hydro and thermal plant retrofits.
Quanta Services, Inc.: Major player in grid, solar, and transmission EPC.
The Shaw Group Inc.: Key EPC firm in power generation and infrastructure.
Sentry Electrical Group, Inc.: Handles heavy electrical EPC jobs for power generation facilities.
Blattner Energy Inc.: Solar EPC specialist with major utility-scale project portfolio.
Others: A roster of regional and niche EPC firms shaping local energy infrastructure across U.S. markets.
Growth Drivers & Trends
Surge in Renewable Projects
Incentives like Solar ITC and wind PTC drive utility-scale solar and wind EPC demand across multiple U.S. regions.
Grid Resilience & Modernization
Upgrades to aging infrastructure and storage integration create a pipeline of EPC projects by utilities and independent power producers.
Nuclear SMR Developments
Emerging interest in small modular reactors generates demand for specialized nuclear EPC expertise.
Energy Transition in Oil & Gas Regions
EPC firms help repurpose infrastructure for gas-fired generation or hydrogen-ready power plants.
Corporate Off-Site Power Purchases
Large enterprises contracting EPC firms for captive solar-plus-storage deliverables to meet sustainability goals.
Utility-Scale Storage Integration
Battery energy storage system (BESS) EPC is rapidly growing alongside solar/wind installations.
Electrification & Decarbonization Policies
Federal and state clean energy mandates drive demand for new zero-emission power EPC projects.
Frequently Asked Questions (FAQs)
What is the current size of the United States power EPC market?
The United States Power EPC Market was valued at USD 28.59 billion in 2024.
What is the forecast for 2034?
With a compound annual growth of 5.10%, the market is projected to reach USD 47.02 billion by 2034.
Which project type dominates the market?
Renewable EPC—especially solar and wind—represents the fastest-growing segment; thermal and oil & gas EPC remain sizable in legacy infrastructure.
Which U.S. regions have the highest EPC activity?
Southwest (Texas), Far West (California), and Southeast (Florida, Georgia) lead in total EPC volume fueled by large-scale solar and utility infrastructure projects.
Who are the top EPC contractors in the power sector?
Top players include Bechtel, Fluor, McDermott, Mitsubishi, DEPCOM Power, Blattner, and Quanta Services.
What trends are shaping the power EPC space?
Key trends include automation in energy storage EPC, nuclear SMR adoption, grid modernization, and hybrid renewable/thermal project scopes.
Are specialized small EPC firms significant in the market?
Yes. Regional EPC firms like Blue Ridge Power, Sentry Electrical, and local solar contractors fill niche and mid-sized project roles.
How are clean energy mandates impacting the market?
Stringent renewable energy standards at federal and state levels significantly boost EPC demand in wind, solar, storage, and grid upgrade projects.
The United States Power EPC Market is on a sustained growth trajectory—from USD 28.59 billion in 2024 to approximately USD 47.02 billion by 2034—driven by energy transition dynamics, renewable investment, grid resilience, and infrastructure modernization.
Contractors delivering turnkey thermal retrofit, solar/wind farm EPC, transmission upgrade, and emerging SMR build capabilities stand to gain the most. As decarbonization, electrification, and distributed generation accelerate, EPC firms that invest in digital tools, modular systems, and sustainability practices will capture leadership in this critical sector.
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