Saudi Arabia Power EPC Market: Size, Demand & Industry Outlook 2025-2033

Saudi Arabia Power EPC Market Overview

Market Size in 2024: USD 6.5 Billion

Market Size in 2033: USD 9.8 Billion

Market Growth Rate 2025-2033: 4.2%

According to IMARC Group's latest research publication, "Saudi Arabia Power EPC Market Report by Type (Thermal, Oil and Gas, Renewable, Nuclear, and Others), and Region 2025-2033", The Saudi Arabia power EPC market size reached USD 6.5 Billion in 2024. Looking forward, IMARC Group expects the market to reach USD 9.8 Billion by 2033, exhibiting a growth rate (CAGR) of 4.2% during 2025-2033.

How AI is Reshaping the Future of Saudi Arabia Power EPC Market

• AI-driven predictive maintenance in Saudi Power EPC projects reduces equipment downtime by up to 30%, cutting costs and improving overall project efficiency for major players.
• National initiatives under Vision 2030 integrate AI for smart grid management, enhancing renewable energy integration and optimizing power distribution across the Kingdom.
• AI-powered project planning tools boost accuracy in engineering designs and scheduling, cutting delays and resource waste in large-scale power infrastructure developments.
• Major EPC firms in Saudi Arabia use machine learning models to analyze vast sensor data, improving real-time decision-making and safety during construction phases.
• Government-backed AI projects facilitate energy storage optimization and predictive analytics, supporting the success of multi-gigawatt solar and wind power EPC contracts.

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Saudi Arabia Power EPC Market Trends & Drivers:

Saudi Arabia’s push towards renewable energy is a major growth factor shaping its Power EPC market. The National Renewable Energy Program targets installing 9.5 GW of renewable capacity soon, with about $30 to $50 billion allocated for solar and wind projects. This shift from traditional fossil fuels to cleaner energy is driving demand for EPC companies skilled in advanced engineering and construction of utility-scale solar farms and wind facilities. These projects not only help the Kingdom meet its electricity needs but also support its Vision 2030 goals of economic diversification and reduced carbon footprint.

Rising electricity demand in Saudi Arabia is fueling the Power EPC sector’s rapid expansion. With peak demand growth averaging 7% to 9%, the country is focused on scaling up generation capacity and modernizing grid infrastructure. Key initiatives include installing over 12 million smart meters to optimize consumption, improve efficiency, and integrate renewables. The government’s efforts to upgrade transmission lines and interconnect regional grids, like the 3 GW capacity link with Egypt, further increase EPC project opportunities, requiring sophisticated coordination of engineering, procurement, and construction activities.

Strategic partnerships and significant foreign investments also play a crucial role in driving the Power EPC market. Collaborations with major companies like Siemens Energy, ACWA Power, and Chinese firms provide state-of-the-art technology and capital inflows to fast-track large-scale power plant projects. For instance, recent tenders for 5.3 GW of new renewable capacity show strong involvement of international and local EPC contractors, highlighting confidence in Saudi Arabia’s energy transition. This international cooperation supports knowledge transfer, cost-efficiency, and the growth of a competitive EPC industry within the Kingdom.

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Saudi Arabia Power EPC Industry Segmentation:

The report has segmented the market into the following categories:

Type Insights:

• Thermal
• Oil and Gas
• Renewable
• Nuclear
• Others

Regional Insights:

• Northern and Central Region
• Western Region
• Eastern Region
• Southern Region

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players.

Recent News and Developments in Saudi Arabia Power EPC Market

• September 2025: Saudi Arabia awards 4.9 GWh energy storage contracts, boosting grid reliability and integrating renewables with advanced battery technologies in major power EPC projects.
• September 2025: Siemens Energy secures $1.6 billion EPC deal to develop low-carbon power plants, advancing Saudi Arabia’s clean energy ambitions with cutting-edge gas turbine tech.
• September 2025: Saudi launches a 5.3 GW renewable energy tender under Round 7, driving competition and innovation among EPC contractors across solar and wind sectors.

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