France Power EPC Market - Growth, Trends, and Forecasts (2023-2028)

The French power EPC market is expected to register a CAGR of more than 4% during the forecast period.

The market was negatively impacted by COVID-19 in 2020. It has now reached pre-pandemic levels.

Key Highlights

• Over the long term, the growing renewable power sector is expected to drive the French power EPC market.
• On the other hand, as the country has quite a mature power market, the growth of the power EPC market is expected to be at a slow rate.
• Nevertheless, new and efficient technologies like supercritical and ultra-supercritical coal power plants and government initiatives to increase renewable energy share are expected to create opportunities for the French power EPC market in the near future.

France Power EPC Market Trends

Non-Hydro Renewable Segment Expected to Witness Significant Growth

• France has been an early leader in energy transition and the host of COP21 and the Paris agreement. The country's electricity generation portfolio is dominated by nuclear energy, with around 62% share in the production of non-hydro renewables (wind and solar), capturing around 7%. Natural gas occupies 15%, and hydro has a 16% share as of 2022.
• The country is still focusing on higher growth in the solar and wind power generation sector with new projects and policies to promote the duo in the energy generation domain. For instance, France has announced a new 10-measure plan to accelerate the development of photovoltaic energy, featuring new and existing provisions. It is designed to support the installation of more than 3 GW per year throughout the country by the end of 2025.
• Moreover, a number of wind projects have been planned in the country in the current scenario. For instance, in August 2022, the French government announced plans to launch a tender for an offshore wind farm in the state waters. The winning company will be chosen in 2024, and they vaguely disclosed the commissioning in 2030.
• The French government revealed new plans to have 100 GW of solar photovoltaic parks and 40 GW of offshore wind power generation capacity by 2050. Such ambitious plans are anticipated to have a direct impact on the power EPC market in the country.
• The non-hydro renewables segment is expected to witness significant growth due to such developments.

The Integration of Renewable Energy Sources Expected to Drive the Market

• France is fully engaged in energy transition and is committed to attaining net carbon neutrality. It closed the last coal-fired power plant in 2022 and is dramatically developing renewable energy technologies. In addition, the country is decreasing its nuclear energy capacity and replacing it with onshore and offshore wind energy and solar energy installations.
• The renewables-based energy generation was recorded at around 62.8 TWh in 2021, part of a continuous uptrend in the last five years. The trend is also expected to increase due to the upcoming renewable projects.
• RtE, France's largest transmission and distribution power developer, is planning to develop new north-south and east-west power transmission and power distribution lines and more connections to the offshore and onshore wind farms. This strategy is expected to accommodate energy transition in the power distribution network.
• The French government has earmarked around EUR 61 billion (USD 61.96 billion) to be invested between 2021-2025 to integrate renewable energy in power transmission and distribution lines.
• Such developments associated with the energy transition and the upgradation of networks to integrate the new power sources are expected to drive the power EPC market in the country.

France Power EPC Market Competitor Analysis

The French power EPC market is moderately fragmented. Some of the major companies (in no particular order) include Engie SA, EDF Renewables, TotalEnergies SE, Vestas Wind Systems AS, and Siemens Gamesa Renewable Energy SA.

Additional benefits of purchasing the report:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

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