미국의 전력 EPC : 시장 점유율 분석, 업계 동향 및 통계, 성장 예측(2026-2031년)

According to Mordor Intelligence, the United States power EPC market size is projected to expand from USD 106.53 billion in 2025 and USD 110.14 billion in 2026 to USD 126.76 billion by 2031, registering a CAGR of 2.85% between 2026 to 2031.

This report is Segmented by Power Generation EPC [Technology (Thermal, Nuclear, and Renewables), Capacity Band (Up To 100 MW, 100 To 499 MW, and Above 500 MW), and End-User (Regulated Utilities, Independent Power Producers, Industrial Captive Power, and Public Sector and SOE)], and Power Transmission and Distribution (T&D) EPC. The Market Sizes and Forecasts are Provided in Terms of Value (USD).

United States Power EPC Market Trends and Insights

Inflation Reduction Act-Linked Clean-Energy CAPEX Boom Reshapes Project Finance

A cumulative USD 89 billion in clean-energy announcements during 2024-2025 compressed procurement cycles to 12-15 months, requiring EPC firms active in the US power EPC market to order inverters and transformers before debt close. Liquidated-damages bonds linked to commercial-operation milestones now place schedule risk squarely on contractor balance sheets. Domestic-content bonuses encourage suppliers such as Fluor and Kiewit to lock in U.S.-made modules, narrowing vendor pools and favoring firms with long-term purchase agreements. Modular construction that parallelizes site work with factory fabrication is gaining prominence because it mitigates late-stage delivery slippage. These dynamics reinforce a shift toward lump-sum turnkey structures that guarantee price but reward execution certainty across the US power EPC market.

Multi-GW Data-Center and Green-Hydrogen Load Additions Drive Behind-the-Meter EPC

Hyperscale operators signed more than 15 GW of PPAs in 2025, frequently co-locating 200-500 MW solar-plus-storage systems on adjacent parcels to bypass utility queues. EPC contractors are packaging design-build-operate offerings with 20-year availability guarantees, generating 12-15% margins, double typical utility-scale levels. Green-hydrogen projects mirror this model; electrolyzer additions reached 2.5 GW in 2025, and turnkey scopes now bundle power-island design with compression, storage, and pipeline tie-ins. Firms with combined petrochemical and renewable portfolios, such as Bechtel, Zachry, and McDermott, hold an execution advantage in the rapidly expanding US power EPC market.

Scarcity of EPC Labor and Craft Supervision Compresses Margins

The power-construction workforce shrank 12% between 2020 and 2025, triggering 8-10% annual wage inflation for electricians, pipefitters, and operators. Contractors increasingly pivot to cost-reimbursable structures to pass wage risk to owners, yet margin compression still hits 150-200 basis points. Prefabrication facilities, exemplified by Burns & McDonnell's 200,000 ft2 Kansas City plant, lower field-labor intensity by 25-30% and cut onsite schedules to 12-15 months, making modularization central to competitiveness in the US power EPC market.

Other drivers and restraints analyzed in the detailed report include:

1. Replacement Wave for Coal Fleet Over 40 Years Old Accelerates Renewable Conversions
2. Utility Decarbonization Mandates Beyond RPS Targets Create Captive Demand
3. Supply-Chain Bottlenecks for HV Equipment Extend Project Schedules

For complete list of drivers and restraints, kindly check the Table Of Contents.

Segment Analysis

Renewables captured 80.8% of Power Generation EPC value in 2025, and this share is forecast to widen on a 5.8% CAGR through 2031, underpinning the largest slice of the US power generation EPC market size for generation. IRA incentives lower solar and wind LCOE to USD 25-35/MWh, squeezing combined-cycle gas economics. Battery storage turned into the fastest-growing sub-segment as standalone BESS reached 8 GW in 2025, creating a need for contractors versed in NFPA 855 compliance. Offshore wind will expand after 2027 once Jones Act-compliant vessels enter service, although near-term revenue remains modest. Geothermal and SMR niches add diversity but stay sub-scale before 2030.

Thermal generation accounted for 15% of 2025 spend and will inch forward at only 1.2% CAGR because coal-to-gas switching has largely played out, while nuclear sits at 4.2% share and relies mainly on SMR demonstrations and license extensions. Contractors that master modular nuclear construction and high-temperature gas-turbine retrofits stand to capture incremental value but will contribute a smaller fraction to overall US power generation EPC market share growth.

Complete Report Scope:

• Power Generation EPC
  • By Technology
    • Thermal
    • Nuclear
    • Renewables
  • By Capacity Band
    • Up to 100 MW (DER, micro-grid)
    • 100 to 499 MW
    • Above 500 MW
  • By End-User
    • Regulated Utilities
    • Independent Power Producers
    • Industrial Captive Power
    • Public Sector and SOE
• Power Transmission and Distribution (T&D) EPC

List of Companies Covered in this Report:

1. Fluor Corporation
2. Bechtel Corporation
3. Kiewit Corporation
4. Black & Veatch Holdings
5. Burns & McDonnell
6. Jacobs Engineering Group
7. AECOM
8. Zachry Group
9. McDermott International
10. Mortenson Construction
11. Gemma Power Systems
12. JGC Corporation
13. Siemens Energy Inc.
14. John Wood Group PLC
15. Mitsubishi Power Americas
16. Worley
17. SNC-Lavalin (AtkinsRealis)
18. HDR Inc.
19. Skanska USA
20. IHI Power Services

Additional Benefits:

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

TABLE OF CONTENTS

1 Introduction

• 1.1 Study Assumptions & Market Definition
• 1.2 Scope of the Study

2 Research Methodology

3 Executive Summary

4 Market Landscape

• 4.1 Market Overview
• 4.2 Installed Capacity Outlook
• 4.3 Primary-Energy Consumption Snapshot
• 4.4 Market Drivers
  • 4.4.1 Inflation Reduction Act-linked clean-energy CAPEX boom
  • 4.4.2 Multi-GW data-center and green-hydrogen load additions
  • 4.4.3 Replacement wave for >40-yr coal fleet
  • 4.4.4 Utility decarbonization mandates beyond RPS targets
  • 4.4.5 SMR-ready balance-of-plant standardization
  • 4.4.6 Green-steel OEM turnkey contracting emergence
• 4.5 Market Restraints
  • 4.5.1 Scarcity of EPC labor & craft supervision
  • 4.5.2 Supply-chain bottlenecks for HV equipment
  • 4.5.3 ERCOT queue curtailments & interconnection delays
  • 4.5.4 Surety-bond tightening post-megaproject overruns
• 4.6 Supply-Chain Analysis
• 4.7 Regulatory Landscape
• 4.8 Technological Outlook
• 4.9 Porter's Five Forces
  • 4.9.1 Bargaining Power of Buyers
  • 4.9.2 Bargaining Power of Suppliers
  • 4.9.3 Threat of New Entrants
  • 4.9.4 Threat of Substitutes
  • 4.9.5 Competitive Rivalry
• 4.10 PESTLE Analysis

5 Market Size & Growth Forecasts

• 5.1 Power Generation EPC
  • 5.1.1 By Technology
    • 5.1.1.1 Thermal
    • 5.1.1.2 Nuclear
    • 5.1.1.3 Renewables
  • 5.1.2 By Capacity Band
    • 5.1.2.1 Up to 100 MW (DER, micro-grid)
    • 5.1.2.2 100 to 499 MW
    • 5.1.2.3 Above 500 MW
  • 5.1.3 By End-User
    • 5.1.3.1 Regulated Utilities
    • 5.1.3.2 Independent Power Producers
    • 5.1.3.3 Industrial Captive Power
    • 5.1.3.4 Public Sector and SOE
• 5.2 Power Transmission and Distribution (T&D) EPC

6 Competitive Landscape

• 6.1 Market Concentration
• 6.2 Strategic Moves (M&A, Partnerships, PPAs)
• 6.3 Market Share Analysis (Market Rank/Share for key companies)
• 6.4 Company Profiles (includes Global level Overview, Market level overview, Core Segments, Financials as available, Strategic Information, Products & Services, and Recent Developments)
  • 6.4.1 Fluor Corporation
  • 6.4.2 Bechtel Corporation
  • 6.4.3 Kiewit Corporation
  • 6.4.4 Black & Veatch Holdings
  • 6.4.5 Burns & McDonnell
  • 6.4.6 Jacobs Engineering Group
  • 6.4.7 AECOM
  • 6.4.8 Zachry Group
  • 6.4.9 McDermott International
  • 6.4.10 Mortenson Construction
  • 6.4.11 Gemma Power Systems
  • 6.4.12 JGC Corporation
  • 6.4.13 Siemens Energy Inc.
  • 6.4.14 John Wood Group PLC
  • 6.4.15 Mitsubishi Power Americas
  • 6.4.16 Worley
  • 6.4.17 SNC-Lavalin (AtkinsRealis)
  • 6.4.18 HDR Inc.
  • 6.4.19 Skanska USA
  • 6.4.20 IHI Power Services

7 Market Opportunities & Future Outlook

• 7.1 White-space & Unmet-Need Assessment