Myanmar power generation EPC market is expected to reach $XX billion in 2020 from $ billion in 2014. It is estimated that the market would grow at a CAGR of XX percent during this period.
Myanmar has a very high GDP growth rate of 7%-8%. Their power sector is underdeveloped, and so they have set ambitious targets for electrification, i.e., bringing power to locations and customers now off the grid. Currently, only 30% of Myanmar’s population has access to electricity (with that percentage decreasing to around 6% in rural areas).The power sector is thus a top priority for the Myanmar government, and the latest announced goal is to increase capacity to 20,000MW by 2030 – from the current installed capacity of only 4,000MW.
In terms of feedstock, gas-fired power projects have seen the most initial activity. The 120MW Alone power project, being developed by Toyo Thai, is one of the most progressed power projects involving international sponsors, with 80MW already being dispatched. Other significant projects under construction include a 500MW gas-fired power project in Thakayta province, being developed by a South Korean consortium, and three locally developed power projects of 50MW each.
This report comprehensively analyzes the Myanmar Power Generation EPC market by segmenting it based on type of projects, and EPC Market Players. Key drivers and restraints that are effecting the growth of this market are discussed in detail. The study also elucidates on competitive landscape and key market players.