May 6, 2021   SOURCE: BusinessWire

Nigeria Power EPC Market Growth, Trends, and Forecasts Report 2021-2026: Focus on Power Generation and Power Transmission & Distribution (T&D) - ResearchAndMarkets.com

The "Nigeria Power EPC Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)" report has been added to ResearchAndMarkets.com's offering.

The Nigeria power EPC market is expected to grow at a CAGR of more than 3% during the forecast period of 2021-2026.

The COVID-19 pandemic has delayed several power projects in the country during Q1 and Q2 2020. However, factors such as increasing investment and supportive government policies are likely to drive the Nigerian power EPC market during the forecast period.

The Nigerian power sector is dominated by thermal power generation, that too gas-fired, which accounted for over 80% of the total power generation in the country as of 2019. The transmission losses in Nigeria, across the network, are high at an average of approximately 8%-10%, compared to the emerging countries' benchmarks of 2%-6%.

The Nigerian government is approaching foreign investment for power plant infrastructure to full fill the demand of the country. This, in turn, is expected to propel the Nigerian power market during the forecast period. However, geopolitical tensions and the high fiscal deficit coupled with a high inflation rate are expected to negatively impact the Nigerian power EPC market in the short term.

Renewable energy is expected to witness significant growth in the Nigerian power EPC market owing to the supportive government policies and upcoming renewable energy projects in the country.

Emerging market such as distributed power generation, smart grids, and energy storage are expected to create an ample amount of opportunities to the players in the near future.

The rise in domestic electricity demand led to increased electricity generation targets, which are likely to drive the demand for new power generation and T&D projects in the country during the forecast period.

Key Market Trends

Renewable Energy to Witness Significant Growth

  • As of 2019, the Nigerian power sector is dominated by thermal power generation, accounting for about 80% of the total power generation in the country. However, the thermal industry is witnessing slow growth, due to inadequate infrastructure and disruptions in regular gas supply. Therefore, the Nigerian government is now focusing on renewable energy to meet the electricity demand as the country has an abundance of various renewable energy resources, particularly solar, wind, biomass, and small hydropower (SHP).
  • As of 2019, Nigeria's solar photovoltaic (PV) installed capacity reached 28 MW in 2019 representing an increase of 47.36%, compared to 19 MW in 2018. The Renewable Energy Master Plan was launched in 2011 to increase the share of renewable energy in the country by 10% by 2025, compared to around 3%, in 2019.
  • As of 2019, there were about 1436 MW of renewable power plants under construction, including the small hydropower plants. Solar power accounts for about 94% of the upcoming renewable power plants' capacity in the country.
  • Furthermore, the country is expected to receive investment worth more than USD 100 million from the European Union (EU) for the country's Renewable Energy Master Plan. This factor is expected to boost the development of several renewable energy projects in the coming years.
  • Hence, upcoming projects, investments, and policies for renewable energy are expected to be the biggest and the most dominating driver for the Nigerian power EPC market during the forecast period.

Competitive Landscape

The Nigeria power EPC market is moderately consolidated. Some of the key players operating in this market include Gentec EPC ltd, Andritz AG, Alten Energias Renovables, Energo Nigeria Ltd., JuNeng Nig Ltd, and others.

Key Topics Covered:

1 INTRODUCTION

2 EXECUTIVE SUMMARY

3 RESEARCH METHODOLOGY

4 MARKET OVERVIEW

4.1 Introduction

4.2 Market Size and Demand Forecast in USD billion, until 2026

4.3 Recent Trends and Developments

4.4 Government Policies and Regulations

4.5 Market Dynamics

4.6 Supply Chain Analysis

4.7 PESTLE Analysis

5 MARKET SEGMENTATION - BY SECTOR

5.1 Power Generation

5.1.1 Thermal

5.1.2 Renewables

5.1.3 Others

5.2 Power Transmission & Distribution (T&D)

6 COMPETITIVE LANDSCAPE

6.1 Mergers & Acquisitions, Joint Ventures, Collaborations, and Agreements

6.2 Strategies Adopted by the Leading Players

6.3 Company Profiles

6.3.1 Energo Nigeria Ltd.

6.3.2 Andritz AG

6.3.3 Sinohydro

6.3.4 JuNeng Nig Ltd

6.3.5 Gentec Epc Ltd.

6.3.6 Alten Energias Renovables

6.3.7 Sterling and Wilson Nigeria Limited

7 MARKET OPPORTUNITIES AND FUTURE TRENDS

For more information about this report visit https://www.researchandmarkets.com/r/gi95n