The report covers Power EPC Companies in Saudi Arabia and the market is segmented by Type (Thermal, Oil & Gas, Renewable, Nuclear, Others).

Discover the latest trends and opportunities in the Saudi Arabia EPC Power Market. By Type, By Component and By Region with a competition forecast through 2028

The size of the Saudi Arabia Power EPC Industry market was valued at USD XX Million in 2023 and is projected to reach USD XXX Million by 2032, with an expected CAGR of 7.50">> 7.50% during the forecast period. The sector that can be deemed as the most important for the EPC in Saudi Arabia's energy infrastructure - power - includes the aspects of design, procurement, and construction of power-generating facilities in the area of thermal, renewable, and combined-cycle plants. Other significant characteristics include advanced engineering solutions and modern tech-backed project management. The application is a utility-scale power plant, industrial facilities, and in a functional way, a large energy infrastructure. The results are witnessed in advanced energy security, economic diversification, and alignment with the Kingdom's Vision 2030, to secure its advantages in improved efficiencies, greater cost-effectiveness, and technological innovations. The increased investment in energy infrastructure will propel the power EPC market in Saudi Arabia toward high development. Key drivers for this market are: 4., Declining Costs of Solar Technologies4.; Demand for Decentralized Solar Energy Systems. Potential restraints include: 4., Absence of Any New Initiatives in the Country. Notable trends are: The Renewable Energy is Expected to Dominate Market.

The Saudi Arabia Power EPC Market size is experiencing rapid growth, with significant expansion projected for 2026-2032.

Key Market Drivers:

Increasing Electricity Demand: The rapid population growth in Saudi Arabia, with a growth rate of approximately 2%, is leading to increased electricity consumption. To meet this rising demand, the government plans to expand its power generation capacity from 77 GW in 2014 to 156 GW by 2040. This expansion necessitates substantial investments in new power plants and infrastructure, propelling the EPC market. Privatization of the Power Sector: The ongoing privatization efforts in the power industry are encouraging both local and foreign investment. By liberalizing the power sector, the government aims to reduce its fiscal deficits and improve efficiency within state-owned enterprises. This shift creates opportunities for EPC contractors to participate in new projects and initiatives.

The Middle East solar energy market, encompassing Saudi Arabia, the UAE, Oman, and the rest of the region, is experiencing robust growth, driven by ambitious government targets for renewable energy integration, abundant sunshine, and increasing concerns about energy security and climate change. The market's Compound Annual Growth Rate (CAGR) exceeding 11% from 2019-2033 indicates a significant expansion, with the market size exceeding several billion dollars by 2033. Key drivers include substantial investments in large-scale solar projects, supportive government policies like feed-in tariffs and tax incentives, and decreasing solar photovoltaic (PV) technology costs, making solar power increasingly competitive with traditional fossil fuels. The adoption of Concentrated Solar Power (CSP) technologies, particularly in regions with high solar irradiance, further fuels market expansion. While challenges remain, such as grid infrastructure limitations and land availability in some areas, these are being actively addressed through infrastructural development and innovative project designs. The market is segmented geographically, with Saudi Arabia and the UAE leading the charge, driven by their substantial investments in renewable energy initiatives such as Vision 2030 (Saudi Arabia) and the UAE's commitment to diversify its energy portfolio. Oman and the rest of the Middle East are also experiencing increased solar adoption, although at a slightly slower pace. Major players like JinkoSolar, First Solar, and ACWA Power are actively shaping the market landscape through large-scale project development and technological advancements. The forecast period of 2025-2033 promises continued growth, propelled by technological innovations, regional collaborations, and an increasing focus on sustainable development goals. The market's trajectory suggests a significant shift towards solar energy as a primary energy source within the region in the coming decade. Recent developments include: January 2023: Jinko Power Technology Co, Ltd achieved financial close and commenced construction of its 300 MW Saad Solar PV Project in the kingdom. The project is scheduled for commissioning in Q4 2024. The scope of the full-wrap EPC contract includes design, supply, construction, warranty, initial operation, and maintenance of the project., January 2023: Oman Power and Water Procurement Company (OPWP) announced solar energy projects Manah 1 and 2 worth USD 777 million. The project is likely to procure 2 million solar PV panels. It will jointly produce a total of 1,000MW, which is set to come up by the end of 2025 on a 15 million sq m area within the Governorate of A'Dakhiliyah.. Notable trends are: Solar Photovoltaic (PV) Projects to Drive the Market.

The Middle East & Africa Air Insulated Switchgear market is experiencing robust growth, driven by expanding power infrastructure development across the region. A Compound Annual Growth Rate (CAGR) exceeding 5% from 2019 to 2024 indicates a significant upward trajectory. This growth is fueled by increasing urbanization, industrialization, and the rising demand for reliable electricity supply in both commercial and residential sectors. Key drivers include government initiatives promoting renewable energy integration and the expansion of power grids to meet growing energy needs. The market is segmented by voltage level (low, medium, and high voltage) and end-user (commercial & residential, power utilities, and industrial sectors). Major players like Hitachi Energy, Schneider Electric, and Siemens are actively competing, offering a range of solutions to meet diverse customer requirements. The United Arab Emirates, Saudi Arabia, and South Africa represent key markets within the region, benefiting from substantial investments in infrastructure projects. However, challenges such as economic volatility in certain regions and the need for skilled workforce development could potentially restrain market growth. The forecast period (2025-2033) promises continued expansion, with a projected market size increase based on the sustained CAGR. The strategic focus on grid modernization and smart grid technologies will further accelerate market growth in the coming years. Specific regional breakdowns are unavailable but given the CAGR, a proportionate distribution across UAE, Saudi Arabia, South Africa, and the rest of MEA would reflect market trends. The continued expansion of renewable energy sources, particularly solar and wind power, across the MEA region necessitates the installation of robust and reliable switchgear. This will significantly contribute to market growth. Additionally, the ongoing industrial development and expansion of manufacturing facilities across the region are further boosting demand. Government regulations promoting energy efficiency and grid modernization are also driving investments in advanced air-insulated switchgear. Competition among established and emerging players is fostering innovation and price competitiveness, making air-insulated switchgear a more accessible and attractive solution for various applications. While challenges persist, the long-term outlook remains positive, with projections indicating substantial market expansion throughout the forecast period. Recent developments include: September 2022: Civil & Electrical Projects Contracting Company (CEPCO), Saudi Arabia, announced signing a contract agreement with Saudi Electricity Company (SEC). The contract was the first strategic business regarding the complete engineering, procurement, and construction (EPC) of the substation contract. The major equipment/material of the project includes different types of air-insulated switchgear, gas-insulated switchgear, and others., May 2022: HyDeal Espana announced partnerships with four EPC firms, namely VINCI Construction, Tecnicas Reunidas, PowerChina Guizhou Engineering, and TSK. VINCI Construction (in association with its Cobra unit), Técnicas Reunidas, and PowerChina Guizhou Engineering were selected to produce the technical design, architecture, and supply chain of the first HyDeal España plants. The three companies will work to design the highest performance and most cost-effective solar-to-hydrogen systems to produce HyDeal España's renewable hydrogen based on ambitious, pre-agreed engineering, procurement, and construction (EPC) cost targets. HyDeal España and the EPC firms will be supported by TSK as Owner's Engineer. Production is targeted to start by the end of 2025, to produce about 150,000 tons of renewable hydrogen per year from 2026 and reach 330,000 tons in 2030.. Notable trends are: High Voltage Segment to Witness Significant Growth.

The size of the Solar Energy Industry in Middle East market was valued at USD XX Million in 2023 and is projected to reach USD XXX Million by 2032, with an expected CAGR of 11.00">> 11.00% during the forecast period. The solar energy sector is one of the rapidly booming sectors within the Middle East, if not the richest sunlight pouring into the region, taking consideration of the growing demand for sustainable energy solutions. Countries like Saudi Arabia, the UAE, and Qatar are leading from the front with regard to ambitious solar projects and substantial investments in photovoltaic technologies. The Middle East is a perfect location for solar energy because of the good climatic conditions. There are high levels of irradiance that can be utilized to their fullest extent to generate power, and governments across this region are actually implementing supportive policies and incentives as an acceleration factor. Initiatives involve the construction of mega solar farms: Mohammed bin Rashid Al Maktoum Solar Park in Dubai and Noor Abu Dhabi Solar Plant. These are part of wider initiatives toward diversification of energy resources, overcoming heavy dependence on fossil fuels, and meeting climate-related targets. Still, despite growth, challenges prevail in many forms of high upfront capital costs, integration of technology, and upgrades of grid infrastructure. These, however, are being overcome with continuous improvements in solar technology and decreases in its cost. The Middle East is committed to renewable energy by investing in the solar power infrastructure, hence a key player in the global transition towards sustainable energy. Recent developments include: January 2023: Jinko Power Technology Co, Ltd achieved financial close and commenced construction of its 300 MW Saad Solar PV Project in the kingdom. The project is scheduled for commissioning in Q4 2024. The scope of the full-wrap EPC contract includes design, supply, construction, warranty, initial operation, and maintenance of the project., January 2023: Oman Power and Water Procurement Company (OPWP) announced solar energy projects Manah 1 and 2 worth USD 777 million. The project is likely to procure 2 million solar PV panels. It will jointly produce a total of 1,000MW, which is set to come up by the end of 2025 on a 15 million sq m area within the Governorate of A'Dakhiliyah.. Key drivers for this market are: 4., Increasing Demand for Renewable Energy4.; Supportive Government Policies. Potential restraints include: 4., High Cost Compared to Alternatives like Thin Films. Notable trends are: Solar Photovoltaic (PV) Projects to Drive the Market.

The Middle East and Africa (MEA) Air Insulated Switchgear Market is projected to expand at a CAGR of 5.00% from 2025 to 2031, with a valuation of $XX million in 2025. The increasing demand for reliable and efficient power transmission and distribution systems is primarily driving market growth. The rapid industrialization and urbanization in the region, coupled with the growing need for smart grids, are further contributing to market expansion. Key trends in the MEA Air Insulated Switchgear Market include the rising adoption of gas-insulated switchgear (GIS) due to its space-saving and environmental benefits. Furthermore, the integration of advanced technologies, such as automation and digitization, is enhancing the efficiency and reliability of air insulated switchgear systems. The growing focus on renewable energy sources, particularly solar and wind power, is creating new opportunities for the market as air insulated switchgear is essential for connecting renewable energy plants to the grid. Recent developments include: September 2022: Civil & Electrical Projects Contracting Company (CEPCO), Saudi Arabia, announced signing a contract agreement with Saudi Electricity Company (SEC). The contract was the first strategic business regarding the complete engineering, procurement, and construction (EPC) of the substation contract. The major equipment/material of the project includes different types of air-insulated switchgear, gas-insulated switchgear, and others., May 2022: HyDeal Espana announced partnerships with four EPC firms, namely VINCI Construction, Tecnicas Reunidas, PowerChina Guizhou Engineering, and TSK. VINCI Construction (in association with its Cobra unit), Técnicas Reunidas, and PowerChina Guizhou Engineering were selected to produce the technical design, architecture, and supply chain of the first HyDeal España plants. The three companies will work to design the highest performance and most cost-effective solar-to-hydrogen systems to produce HyDeal España's renewable hydrogen based on ambitious, pre-agreed engineering, procurement, and construction (EPC) cost targets. HyDeal España and the EPC firms will be supported by TSK as Owner's Engineer. Production is targeted to start by the end of 2025, to produce about 150,000 tons of renewable hydrogen per year from 2026 and reach 330,000 tons in 2030.. Key drivers for this market are: 4., Rising Renewable Energy Generation4.; Rising Investments In EV Charging Infrastructure. Potential restraints include: 4., Rising Distributed Generation. Notable trends are: High Voltage Segment to Witness Significant Growth.

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The Middle East & Africa Infrastructure Construction Market is experiencing robust growth, driven by significant investments in social and transportation infrastructure projects across the region. A CAGR exceeding 3.50% indicates a consistently expanding market, projected to reach substantial value by 2033. Key drivers include government initiatives promoting economic diversification, rapid urbanization, and the need to modernize aging infrastructure. The social infrastructure segment, encompassing schools, hospitals, and defense projects, is a major contributor to market growth, fueled by rising populations and improved healthcare standards. Simultaneously, the transportation infrastructure segment, encompassing railways, roadways, airports, and ports, benefits from strategic investments aimed at enhancing regional connectivity and facilitating trade. While the extraction infrastructure sector, focused on oil and gas and other mineral extraction, remains significant, its growth may be more closely tied to global commodity prices. Utilities infrastructure (power generation, transmission and telecoms) is experiencing strong growth driven by increasing energy demands and digitalization efforts. Manufacturing infrastructure, including industrial parks and clusters, also contributes, supported by efforts to diversify economies away from reliance on oil and gas. Major players such as Bechtel, Parsons International, and WorleyParsons are actively shaping the market landscape, vying for large-scale projects and influencing market dynamics through technological innovation and project management expertise. However, geopolitical factors and potential economic fluctuations pose potential restraints on market growth. The competitive landscape is characterized by both international and regional players, leading to ongoing competition for project wins and market share. The forecast period of 2025-2033 presents lucrative opportunities for companies specializing in design, engineering, procurement, and construction (EPC) services. Specific growth areas are likely to emerge within sustainable infrastructure development, smart city initiatives, and the adoption of advanced technologies like Building Information Modeling (BIM) and digital twins for project management and efficiency. The market's segmented nature provides avenues for both large multinational corporations and specialized regional contractors. The successful navigation of regulatory frameworks, environmental concerns, and the careful management of skilled labor resources will be critical for companies aiming to capitalize on the market's potential. Strategic partnerships and mergers and acquisitions may become increasingly common as companies seek to enhance their project delivery capabilities and broaden their geographic reach within the Middle East and Africa. Recent developments include: October 2022: Nigeria's Lagos state government plans to start construction of a new airport in the Lekki-Epe region. The new airport facility will cover an area of 3,500 hectares, and construction work is expected to begin next year., July 2022: Saudi Arabia is embarking on an ambitious plan to build the world's largest structure in the northwest of the kingdom. The structure known as Mirror Line consists of two reflective glass structures that reach 1,600 feet (488 meters) in height and run parallel for 120 kilometers (75 miles) across coastal, mountainous, and desert terrain.. Notable trends are: Giga Infrastructure Projects in Saudi Arabia to Boost the Infrastructure Construction Market Sector.

The size of the Drilling Automation Market was valued at USD XX Million in 2023 and is projected to reach USD XXX Million by 2032, with an expected CAGR of 3.00">> 3.00% during the forecast period. Drilling automation refers to the use of advanced technologies and control systems to minimize human intervention in the drilling process. This involves integrating software, hardware, and information technology tools to automate various drilling tasks. The primary goal is to enhance efficiency, accuracy, and safety while reducing operational costs. Automated drilling systems can perform repetitive tasks with high precision, such as controlling the drill bit's direction, speed, and pressure. These systems use real-time data and feedback to adjust operations dynamically, ensuring optimal performance and consistency. By automating these processes, drilling operations can achieve higher productivity and reduce the risk of human error. Recent developments include: July 2022: Saipem and the Saudi construction company, Nasser S. Al Hajri Corporation (NSH), signed with Aramco a national industrial engineering, procurement, and construction (EPC) champion implementation agreement, as part of the Namaat Industrial Investment Programs, for the execution of onshore EPC projects in the Kingdom of Saudi Arabia by a newly founded entity, to be incorporated by Saipem and NSH., July 2022: Samsung Engineering signed an agreement with Aramco for the National EPC Champions initiative. Samsung Engineering, along with ARPIC, a local EPC contractor, was expected to establish a joint venture with the objective of increasing Saudization levels, maximizing in-Kingdom total value-added targets, and deploying leading construction technologies.. Key drivers for this market are: 4., Global Inclination toward Renewable-based Power Generation4.; Increased Power Demand in Line with the Increasing Population. Potential restraints include: 4., High Initial Cost. Notable trends are: Offshore Segment to Witness Significant Growth.

The Electricity and Water Authority (EWA) of Government of Bahrain plans to construct the Second Phase of Al Dur Independent Water and Power Plant in Al Dur, Bahrain.The project includes 1,500MW gas-fired power generation facility and a desalination plant of 50 million gallons a day (MGD) or 227,305 m3/d. It includes the construction of an underground and deep-sea tunnel, a side stream filter plant, interstage pump, substations, and other associated facilities, and the installation of gas turbine generator, transformers, switchgear, steam turbine generator, Heat Recovery Steam Generators (HRSGs), chemical dosing systems, dissolved air flotation system and PLC control system.In December 2013, the project is in early stages and the final decision on whether the second plant will be built by EWA or given to a private party to operate is yet to be finalized.In April 2014, Bahrain’s Electricity & Water Authority (EWA) is assessing whether the second phase of its Al-Dur power plant will be developed as an independent power project (IPP) or tendered as a standard engineering, procurement and construction (EPC) contract. Trowers & Hamlins has been appointed as legal adviser and WSP as technical adviser on the project.In March 2016, EWA issued tender for a financial advisory role. HSBC in a consortium with Norton Rose Fulbright and Mott MacDonald was the only bidder.In June 2016, EWA re-tendered for a financial advisory role. Six firms submitted bids which are namely HSBC, Ernst & Young, BNP Paribas, Gulf International Bank, KPMG, and Pricewaterhouse.KPMG has been appointed as the financial advisor in the fourth quarter of 2016. Japan Bank for International Cooperation (JBIC) will provide the project finance.WSP Global Inc has been appointed as the environmental consultant.In September 2016, Bahrain Ministry of Electricity & Water is managing the implementation works on the project. The consultancy bids are under evaluation.On March 2017, EWA is planning to conduct pre-qualification and issue tender documents before the end of May 2017.On May 22, 2017, EWA issued a request for qualification (RFQ) to appoint developers on Build, Own and Operate (BOO) basis with a submission deadline on June 21, 2017. The due date was later extended to July 12, 2017.In July 2017, RFQ submission deadline was extended to August 2, 2017.In August 2017, 14 companies submitted RFQs.The three consortia were prequalified for the project. They include: 1. A consortium of ACWA Power International, Mitsui & Co, and SEPCO III Electric Power Construction Corporation.2. A consortium of Sumitomo Corporation, Korea Electric Power Corporation (Kepco ) and Doosan Heavy Industries & Construction3. POSCO Engineering & Construction LtdIn December 2017, Electricite de France (EDF), China Machinery Engineering Corporation, Sojitz Group, Gulf Investment Corporation, Enel, Diamond Generating Europe Limited, Acwa Power, Malakoff Corporation, China Power Construction Corporation, China General Nuclear Power Corporation, Korea Electric Power Corporation, Marubeni Corporation, Mitsui & Co and Sumitomo Corporation companies have pre-qualified for the project.In January 2018, January 2018 – Sumitomo Corporation / Kepco / Doosan Heavy Industries & Construction Market and Acwa Power / Mitsui companies are to bidding for the project.In March 2018, RFP bid submission deadline was extended to May 2, 2018. However, the bid submission deadline was extended to May 30, 2018.In April 2018, the main contract bid submission has been extended to May 30, 2018, from May 2, 2018.On July 1, 2018, two consortia have submitted the bids for the project. Those are: – ACWA Power / Mitsui / Al-Moayyed Contracting (local) EPC: Siemens and Sepco 3 – Sumitomo /GIC / Kepco/ Posco Energy / EPC: DoosanOn August 30, 2018, Acwa Power has submitted the lowest bid for the project. Acwa Power submitted a power tariff of BD12.99735 (US$34) per megawatt hour (MWh), and a water tariff of BD0.26352 (US$0.68) per cubic meter (cm) and Sumitomo submitted a power tariff of BD13.0499/MWh (US$34.38/MWh), and a desalination tariff of BD0.3768/cm (US$0.99/cm). The final result is expected to be announced in September 2018.A consortium of KPMG, WSP, Trowers & Hamlins has been appointed as the consultant.In October 2018, a consortium led by Saudi Arabia’s Acwa Power and Japan’s Mitsui has been selected as preferred bidder for design, procurement, construction and commissioning of the project. Read More