Key Insights
The Thailand power EPC (Engineering, Procurement, and Construction) industry presents a compelling investment opportunity, exhibiting a robust growth trajectory. With a market size exceeding [Estimate based on available data; for example, let's assume a 2025 market size of $1.5 billion based on industry reports and CAGR], and a Compound Annual Growth Rate (CAGR) exceeding 3.00%, the sector is poised for significant expansion through 2033. Key drivers include Thailand's increasing energy demand fueled by economic growth and urbanization, coupled with a government focus on renewable energy integration and infrastructure development. The transmission and distribution segment within the power generation sector constitutes a substantial portion of this market. Companies like Black & Veatch, Toshiba, and Mitsubishi Hitachi Power Systems are prominent players, leveraging their expertise in large-scale projects and technological advancements. While challenges exist, such as potential regulatory hurdles and supply chain complexities, the long-term outlook remains positive due to sustained investment in power infrastructure and the nation's commitment to energy security.
This growth is further fueled by Thailand's strategic push towards renewable energy sources, including solar and wind power. This transition presents opportunities for EPC companies specializing in renewable energy projects. However, the industry must adapt to evolving technological landscapes and address potential workforce skill gaps to fully capitalize on this expansion. Furthermore, strategic partnerships and collaborations will be crucial for navigating the complex regulatory environment and ensuring project success. The forecast period (2025-2033) suggests a continued upward trend, reflecting Thailand's commitment to modernizing its energy infrastructure and meeting the rising energy demands of its growing population and economy. Careful analysis of regional variations within Thailand and proactive adaptation to changing market dynamics will be critical for success within this dynamic sector.
This in-depth report provides a comprehensive analysis of the Thailand Power EPC industry, covering market dynamics, growth trends, key players, and future outlook. The study period spans from 2019 to 2033, with 2025 serving as both the base and estimated year. This report is essential for industry professionals, investors, and strategic decision-makers seeking a detailed understanding of this dynamic market.

Thailand Power EPC Industry Market Dynamics & Structure
The Thailand Power EPC market, encompassing Power Generation and Transmission & Distribution segments, is characterized by a moderate level of concentration, with several multinational corporations and domestic players vying for market share. The market size in 2025 is estimated at xx Million. Market share data for 2025 is as follows: Black & Veatch Corporation (xx%), Toshiba Corp (xx%), Mitsubishi Hitachi Power Systems Ltd (xx%), and others (xx%). Technological innovation, driven by the increasing adoption of renewable energy sources and smart grid technologies, is a major force shaping the landscape. Stringent regulatory frameworks and environmental concerns play a significant role, influencing project development and investment decisions. The competitive landscape is further shaped by the presence of product substitutes, such as distributed generation systems, and evolving end-user demographics, with a growing emphasis on sustainable and efficient power solutions. Mergers and acquisitions (M&A) activity has been moderate in recent years, with xx deals recorded between 2019 and 2024, averaging xx Million per deal.
- Market Concentration: Moderately concentrated, with several major players holding significant market share.
- Technological Innovation: Driven by renewable energy integration and smart grid technologies.
- Regulatory Framework: Stringent regulations impacting project development and investment.
- Competitive Substitutes: Distributed generation systems pose competitive pressure.
- End-User Demographics: Shifting towards sustainable and efficient power solutions.
- M&A Activity: Moderate activity with xx deals between 2019 and 2024.
Thailand Power EPC Industry Growth Trends & Insights
The Thailand Power EPC market has experienced robust growth during the historical period (2019-2024), with a Compound Annual Growth Rate (CAGR) of xx%. This growth is primarily driven by increasing electricity demand fueled by economic expansion and rising urbanization. The adoption rate of advanced technologies, particularly in renewable energy projects, is accelerating. Consumer behavior is shifting towards greater energy efficiency and sustainability, further stimulating market growth. Technological disruptions, such as the integration of smart grid technologies and advancements in renewable energy solutions, are significantly impacting the industry. Market penetration of renewable energy-based EPC projects is projected to reach xx% by 2033. The market size is expected to reach xx Million by 2033, exhibiting a CAGR of xx% during the forecast period (2025-2033).

Dominant Regions, Countries, or Segments in Thailand Power EPC Industry
The Power Generation segment is currently the dominant sector within the Thailand Power EPC market, representing approximately xx% of the total market value in 2025. This dominance is fueled by continued investments in conventional and renewable energy power plants to meet rising electricity demands. The Rayong province, known for its industrial hubs, is a key growth driver due to its high concentration of power projects.
- Key Drivers for Power Generation Segment Dominance:
- Government initiatives to expand power generation capacity.
- Increasing industrialization and urbanization leading to higher electricity demand.
- Growing investments in renewable energy projects (solar, wind).
- Favorable government policies and incentives for power plant development.
The Transmission and Distribution segment, while smaller in size compared to Power Generation, also exhibits significant growth potential, driven by infrastructure upgrades to support increased electricity transmission and distribution.
Thailand Power EPC Industry Product Landscape
The Thailand Power EPC market offers a diverse range of products and services, including engineering, procurement, and construction of power plants (conventional and renewable), transmission lines, and distribution networks. Recent innovations focus on improving efficiency, reducing environmental impact, and enhancing grid stability. Key features include advanced control systems, smart grid integration, and the utilization of sustainable materials.
Key Drivers, Barriers & Challenges in Thailand Power EPC Industry
Key Drivers:
- Government initiatives: Strong government support for infrastructure development and renewable energy projects.
- Economic growth: Rising electricity demand due to economic expansion and urbanization.
- Technological advancements: Innovation in renewable energy technologies and smart grid solutions.
Challenges:
- Regulatory hurdles: Complex regulatory processes and approvals can delay project timelines.
- Supply chain disruptions: Global supply chain issues can impact project costs and schedules.
- Competition: Intense competition among domestic and international EPC companies. This competition can lead to pricing pressure and reduced profit margins. The estimated impact of these challenges is a reduction of xx Million in market value in 2025.
Emerging Opportunities in Thailand Power EPC Industry
Significant opportunities exist in the expanding renewable energy sector, particularly solar and wind power, driven by government incentives and sustainability goals. Furthermore, the growing adoption of smart grid technologies presents opportunities for EPC companies to offer integrated solutions. The development of energy storage solutions and microgrids also offers significant potential.
Growth Accelerators in the Thailand Power EPC Industry
Long-term growth will be significantly driven by continued government investments in infrastructure, increasing private sector participation, and technological advancements that enhance efficiency and sustainability. Strategic partnerships between international and domestic companies will also play a crucial role in accelerating market expansion.
Key Players Shaping the Thailand Power EPC Industry Market
- Black & Veatch Corporation
- Toshiba Corp
- DP Cleantech Group
- Mitsubishi Hitachi Power Systems Ltd
- Marubeni Corporation
- B Grimm Power Public Company Limited
- General Electric Company
- Poyry PLC
Notable Milestones in Thailand Power EPC Industry Sector
- October 2022: Doosan Škoda Power secured a contract from TTCL to supply a 20MW steam turbine generator for a new steam power plant in Rayong province.
- February 2022: Glow SPP 2 Company Limited signed a contract with Jurong Engineering Limited and Thai Jurong Engineering Limited to construct a 96MW cogeneration project in Map Ta Phut Industrial Estate, Rayong Province.
In-Depth Thailand Power EPC Industry Market Outlook
The Thailand Power EPC market is poised for continued growth driven by robust economic expansion, increasing energy demand, and a strong government commitment to infrastructure development. Strategic opportunities exist for companies that can offer innovative, sustainable, and cost-effective solutions. The long-term outlook is positive, with substantial growth potential across both the power generation and transmission & distribution segments.
Thailand Power EPC Industry Segmentation
-
1. Sector
-
1.1. Power Generation
- 1.1.1. Thermal
- 1.1.2. Renewables
- 1.1.3. Others
- 1.2. Transmission and Distribution
-
1.1. Power Generation
Thailand Power EPC Industry Segmentation By Geography
- 1. Thailand

Thailand Power EPC Industry REPORT HIGHLIGHTS
Aspects | Details |
---|---|
Study Period | 2019-2033 |
Base Year | 2024 |
Estimated Year | 2025 |
Forecast Period | 2025-2033 |
Historical Period | 2019-2024 |
Growth Rate | CAGR of > 3.00% from 2019-2033 |
Segmentation |
|
Table of Contents
- 1. Introduction
- 1.1. Research Scope
- 1.2. Market Segmentation
- 1.3. Research Methodology
- 1.4. Definitions and Assumptions
- 2. Executive Summary
- 2.1. Introduction
- 3. Market Dynamics
- 3.1. Introduction
- 3.2. Market Drivers
- 3.2.1. 4.; Increase in Prices of Electricity Procured from Conventional Mechanisms 4.; Decline in Cost of Solar Energy Infrastructure
- 3.3. Market Restrains
- 3.3.1. 4.; Competition from Other Alternative Energy Sources
- 3.4. Market Trends
- 3.4.1. Renewable Energy to be the fastest-growing segment
- 4. Market Factor Analysis
- 4.1. Porters Five Forces
- 4.2. Supply/Value Chain
- 4.3. PESTEL analysis
- 4.4. Market Entropy
- 4.5. Patent/Trademark Analysis
- 5. Thailand Power EPC Industry Analysis, Insights and Forecast, 2019-2031
- 5.1. Market Analysis, Insights and Forecast - by Sector
- 5.1.1. Power Generation
- 5.1.1.1. Thermal
- 5.1.1.2. Renewables
- 5.1.1.3. Others
- 5.1.2. Transmission and Distribution
- 5.1.1. Power Generation
- 5.2. Market Analysis, Insights and Forecast - by Region
- 5.2.1. Thailand
- 5.1. Market Analysis, Insights and Forecast - by Sector
- 6. Competitive Analysis
- 6.1. Market Share Analysis 2024
- 6.2. Company Profiles
- 6.2.1 Black & Veatch Corporation
- 6.2.1.1. Overview
- 6.2.1.2. Products
- 6.2.1.3. SWOT Analysis
- 6.2.1.4. Recent Developments
- 6.2.1.5. Financials (Based on Availability)
- 6.2.2 Toshiba Corp
- 6.2.2.1. Overview
- 6.2.2.2. Products
- 6.2.2.3. SWOT Analysis
- 6.2.2.4. Recent Developments
- 6.2.2.5. Financials (Based on Availability)
- 6.2.3 DP Cleantech Group
- 6.2.3.1. Overview
- 6.2.3.2. Products
- 6.2.3.3. SWOT Analysis
- 6.2.3.4. Recent Developments
- 6.2.3.5. Financials (Based on Availability)
- 6.2.4 Mitsubishi Hitachi Power Systems Ltd
- 6.2.4.1. Overview
- 6.2.4.2. Products
- 6.2.4.3. SWOT Analysis
- 6.2.4.4. Recent Developments
- 6.2.4.5. Financials (Based on Availability)
- 6.2.5 Marubeni Corporation
- 6.2.5.1. Overview
- 6.2.5.2. Products
- 6.2.5.3. SWOT Analysis
- 6.2.5.4. Recent Developments
- 6.2.5.5. Financials (Based on Availability)
- 6.2.6 B Grimm Power Public Company Limited*List Not Exhaustive
- 6.2.6.1. Overview
- 6.2.6.2. Products
- 6.2.6.3. SWOT Analysis
- 6.2.6.4. Recent Developments
- 6.2.6.5. Financials (Based on Availability)
- 6.2.7 General Electric Company
- 6.2.7.1. Overview
- 6.2.7.2. Products
- 6.2.7.3. SWOT Analysis
- 6.2.7.4. Recent Developments
- 6.2.7.5. Financials (Based on Availability)
- 6.2.8 Poyry PLC
- 6.2.8.1. Overview
- 6.2.8.2. Products
- 6.2.8.3. SWOT Analysis
- 6.2.8.4. Recent Developments
- 6.2.8.5. Financials (Based on Availability)
- 6.2.1 Black & Veatch Corporation
List of Figures
- Figure 1: Thailand Power EPC Industry Revenue Breakdown (Million, %) by Product 2024 & 2032
- Figure 2: Thailand Power EPC Industry Share (%) by Company 2024
List of Tables
- Table 1: Thailand Power EPC Industry Revenue Million Forecast, by Region 2019 & 2032
- Table 2: Thailand Power EPC Industry Revenue Million Forecast, by Sector 2019 & 2032
- Table 3: Thailand Power EPC Industry Revenue Million Forecast, by Region 2019 & 2032
- Table 4: Thailand Power EPC Industry Revenue Million Forecast, by Country 2019 & 2032
- Table 5: Thailand Power EPC Industry Revenue Million Forecast, by Sector 2019 & 2032
- Table 6: Thailand Power EPC Industry Revenue Million Forecast, by Country 2019 & 2032
Frequently Asked Questions
1. What is the projected Compound Annual Growth Rate (CAGR) of the Thailand Power EPC Industry?
The projected CAGR is approximately > 3.00%.
2. Which companies are prominent players in the Thailand Power EPC Industry?
Key companies in the market include Black & Veatch Corporation, Toshiba Corp, DP Cleantech Group, Mitsubishi Hitachi Power Systems Ltd, Marubeni Corporation, B Grimm Power Public Company Limited*List Not Exhaustive, General Electric Company, Poyry PLC.
3. What are the main segments of the Thailand Power EPC Industry?
The market segments include Sector.
4. Can you provide details about the market size?
The market size is estimated to be USD XX Million as of 2022.
5. What are some drivers contributing to market growth?
4.; Increase in Prices of Electricity Procured from Conventional Mechanisms 4.; Decline in Cost of Solar Energy Infrastructure.
6. What are the notable trends driving market growth?
Renewable Energy to be the fastest-growing segment.
7. Are there any restraints impacting market growth?
4.; Competition from Other Alternative Energy Sources.
8. Can you provide examples of recent developments in the market?
October 2022: Doosan Škoda Power won a contract from the Thai company TTCL to supply a 20MW steam turbine generator for a newly built steam power plant in the Rayong province, Thailand.
9. What pricing options are available for accessing the report?
Pricing options include single-user, multi-user, and enterprise licenses priced at USD 3800, USD 4500, and USD 5800 respectively.
10. Is the market size provided in terms of value or volume?
The market size is provided in terms of value, measured in Million.
11. Are there any specific market keywords associated with the report?
Yes, the market keyword associated with the report is "Thailand Power EPC Industry," which aids in identifying and referencing the specific market segment covered.
12. How do I determine which pricing option suits my needs best?
The pricing options vary based on user requirements and access needs. Individual users may opt for single-user licenses, while businesses requiring broader access may choose multi-user or enterprise licenses for cost-effective access to the report.
13. Are there any additional resources or data provided in the Thailand Power EPC Industry report?
While the report offers comprehensive insights, it's advisable to review the specific contents or supplementary materials provided to ascertain if additional resources or data are available.
14. How can I stay updated on further developments or reports in the Thailand Power EPC Industry?
To stay informed about further developments, trends, and reports in the Thailand Power EPC Industry, consider subscribing to industry newsletters, following relevant companies and organizations, or regularly checking reputable industry news sources and publications.
Methodology
Step 1 - Identification of Relevant Samples Size from Population Database



Step 2 - Approaches for Defining Global Market Size (Value, Volume* & Price*)

Note*: In applicable scenarios
Step 3 - Data Sources
Primary Research
- Web Analytics
- Survey Reports
- Research Institute
- Latest Research Reports
- Opinion Leaders
Secondary Research
- Annual Reports
- White Paper
- Latest Press Release
- Industry Association
- Paid Database
- Investor Presentations

Step 4 - Data Triangulation
Involves using different sources of information in order to increase the validity of a study
These sources are likely to be stakeholders in a program - participants, other researchers, program staff, other community members, and so on.
Then we put all data in single framework & apply various statistical tools to find out the dynamic on the market.
During the analysis stage, feedback from the stakeholder groups would be compared to determine areas of agreement as well as areas of divergence