Enjoy complimentary customisation on priority with our Enterprise License!
The Romania - Power Engineering, Procurement, and Construction (EPC) Market size is forecast to increase by USD 155.89 million, at a CAGR of 3.84% between 2023 and 2028. The market growth analysis depends on several factors, including the growing investments in solar power projects, the rising government support for clean power projects, and the increasing demand for electricity in Romania.
The report includes a comprehensive outlook on the Romania - Power Engineering, Procurement, and Construction Market, offering forecasts for the industry segmented by Application, which comprises non-renewable and renewable. Additionally, it categorizes End-user into private and government, and covers Technology, including thermal, hydroelectric, renewables, and nuclear. The market research report provides market size, historical data spanning from 2018 to 2022, and future projections, all presented in terms of value in USD million for each of the mentioned segments.
EPC in the power industry refers to engineering, procurement, and construction. It is a term widely used by companies that provide end-to-end energy services, including power generation system designs, providing procurement details about the system, and installing it.
To Know more about the Market Report Request Free Sample
Our market analysis and report analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers, trends, and challenges will help companies refine their marketing strategies to gain a competitive advantage.
Growing investments in solar power projects is the key factor driving market growth. Romania's solar capacity is expected to grow to 4.25 GW by 2030 from 1.39 GW in 2020. This growth can be attributed to the increasing investments in solar power projects in the country. In recent years, various EPC contracts have been awarded to Romania - power EPC market players for solar power projects in the country. For instance, in March 2022, Ruserio Solar srl (Ruserio Solar), a Romanian solar project development company, launched a tender to seek interested EPC contractors for a solar power project with up to 134 MW DC/113 MW AC capacity to be stationed in the country's Bucsani-Ogrezeni region's Giurgiu County.
Thus, such collaborations will help establish the solar power industry in Romania. The investors, developers, and operators in renewable energy projects in Romania can benefit from the advanced technologies offered by regional as well as global EPC service providers. These latest partnerships serve as a driving force for the Hence, the growing investments in solar power projects in the country will augment the growth of the power EPC market in Romania during the forecast period.
An increase in acquisition and collaboration by companies is the primary trend shaping market growth. The Romania - power EPC market is fragmented, with multiple market players. In line with current market trends and analysis, regional participants in the Romania - power engineering, procurement, and construction (EPC) market find themselves under pressure to sustain revenue amidst fierce competition. Consequently, regional players are resorting to consolidating with big players through partnership and acquisition.
For example, in May 2022, market player INTEC Energy Solutions and Chinese company CHINT Solar announced on Tuesday they are partnering to develop a 154 MWp solar power plant, the largest in Romania, after signing an EPC contract with Israeli renewable energy projects developer Econergy. Thus, such developments are expected to have a positive influence on the power EPC market in Romania during the forecast period.
Lack of communication between teams for power EPC is a challenge that affects market growth. A single power EPC project may be divided among numerous teams by the EPC contractor company, ranging from the engineering team to general contractors. A lot of teamwork is required for such construction projects, as it calls for extensive cross-team contact and collaboration. However, these teams are frequently dispersed across different locations, and the lack of cross-team collaboration can lead to each team operating in a silo, which poses a major challenge.
Additionally, inefficient communications may turn out to be expensive. For example, paper-based documentation makes it tough for different teams to follow up and much harder to find out any background information about the current project. Hence, the lack of communication between different teams of the EPC contractor will hamper the successful execution of the project, which, in turn, will impede the growth of the market during the forecast period.
The market share growth by the non-renewable segment will be significant during the forecast period. The non-renewable segment mainly includes conventional thermal power plants that generate energy from fossil fuel combustion, such as coal, oil, and natural gas. In 2023, non-renewable energy sources such as oil, gas, nuclear, and coal held the largest share of the total primary energy supply in the country. The country has the third-lowest energy import dependency rate in Europe. This can be attributed to its vast natural gas and oil reserves and an oversized power generation sector.
Get a glance at the market contribution of the End User segment Request Free Sample
The non-renewable segment accounted for USD 513.73 million in 2018. In Romania, the materials and equipment used for the construction of non-renewable energy projects are sourced from EPC service providers. These materials and equipment need to be manufactured by well-established international or Romanian manufacturers. Furthermore, they should comply with the norms and regulations set by the European and Romanian regulatory authorities. However, as a critical part of its sustainable development strategy, the government of Romania aims to achieve its targets by increasing its investments in renewable sources such as hydro, wind, solar, and biomass. This is expected to pose a challenge to market players operating in the non-renewable sector in the country and will impede the growth of the segment and the power engineering, procurement, and construction (EPC) market in Romania during the forecast period.
The private segment is expected to retain its share in the power EPC market in Romania during the forecast period. The government of Romania has announced its Energy Strategy for 2019-2030, with an outlook to 2050. As per this strategy, the government plans to promote the replacement of the aging power generation fleet across Romania. A huge share of the power generation power plants in Romania are economically inefficient and nearing their end of life. Thus, there is a growing need for the replacement of power generation capacities. Furthermore, with an expected increase in the demand for electricity owing to the increase in population and industrialization, various new solar and hydropower generation projects are expected to witness increased investments from the private sector. Thus, such factors are expected to drive the growth of the Romania - power EPC market and the segment during the forecast period.
Companies are implementing various strategies by analyzing factors such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product or service launches, to enhance their presence in the market.
The report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
E.ON SE, Enel Spa, Intec Energy Solutions, JinkoSolar Holding Co. Ltd., Kohler Co., Mytilineos S.A., Romelectro S.A, SC Electro-Alfa International srl, Siemens AG, SOLEK HOLDING SE, TELENERGIA Europe S.R.L., Trina Solar Co. Ltd., WTS Energy Co., and Zhejiang CHINT Electrics Co. Ltd.
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The report forecasts market research and growth by revenue and provides an analysis of the latest market growth and trends from 2018-2028.
Romania Power EPC Market Scope |
|
Report Coverage |
Details |
Page number |
148 |
Base year |
2023 |
Historic period |
2018 - 2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 3.84% |
Market growth 2024-2028 |
USD 155.89 million |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
3.68 |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Calik Holding, E.ON SE, Enel Spa, Intec Energy Solutions, JinkoSolar Holding Co. Ltd., Kohler Co., Mytilineos S.A., Romelectro S.A, SC Electro-Alfa International srl, Siemens AG, SOLEK HOLDING SE, TELENERGIA Europe S.R.L., Trina Solar Co. Ltd., WTS Energy Co., and Zhejiang CHINT Electrics Co. Ltd. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Market Segmentation by End-user
8 Market Segmentation by Technology
9 Customer Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Get lifetime access to our
Technavio Insights
Quick Report Overview:
Cookie Policy
The Site uses cookies to record users' preferences in relation to the functionality of accessibility. We, our Affiliates, and our Vendors may store and access cookies on a device, and process personal data including unique identifiers sent by a device, to personalise content, tailor, and report on advertising and to analyse our traffic. By clicking “I’m fine with this”, you are allowing the use of these cookies. Please refer to the help guide of your browser for further information on cookies, including how to disable them. Review our Privacy & Cookie Notice.