by EPC (Engineering, Procurement and Construction) consulting services help optimize energy usage, infrastructure cost, and operational efficiency for various built environments. EPC consultants offer advisory as well as project implementation services covering energy audits, renewable energy integration, utility management, and green building certifications. Their expertise helps assess resource consumption patterns and recommend targeted solutions for benchmarks like lighting upgrades, HVAC retrofits, water management systems, and waste reduction strategies. With growing concerns around energy security, carbon emissions, and sustainability; industries and commercial facilities are increasingly partnering with EPC consultants to incorporate energy-saving interventions and optimize facility performance.
The global EPC Consulting Market is estimated to be valued at US$ 11.4 Bn in 2023 and is expected to exhibit a CAGR of 23.% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
There is growing demand for advisory services around renewable energy sourcing and storage. EPC consultants are assisting organizations in evaluating options for distributed and off-grid renewable power along with battery storage systems. This helps lower electricity costs as well as transition to cleaner energy mixes. Another key trend is the focus on green certification for new construction as well as retrofitting existing infrastructure. EPC consultancies play a vital role in designing sustainable built environments, recommending efficient materials and technologies, and providing guidance to achieve coveted green building labels. Their expertise is also being leveraged for carbon footprint measurement and reporting frameworks. As emission norms tighten globally, EPC consulting will continue expanding into climate risk assessment and decarbonization roadmaps for industries.
Porter’s Analysis
Threat of new entrants: The EPC consulting market requires high initial investment which poses moderate threat of new entrants. However, industry is growing at a rapid pace creating opportunities.
Bargaining power of buyers: Buyers have moderate to high bargaining power due to availability of multiple solution providers and flexibility to change providers.
Bargaining power of suppliers: Suppliers have low to moderate bargaining power due to presence of several technology providers and flexibility of clients to change vendors.
Threat of new substitutes: Threat of substitution is moderate as there are limited substitutes and switching costs for clients are high.
Competitive rivalry: The market is highly competitive due to presence of global and regional players. Key players focus on innovation and customization to attain sustainable competitive advantage.
Key Takeaways
The global EPC Consulting Market Growth is expected to witness high. Regional analysis reveals that North America dominates the market currently due to high technology adoption. Asia Pacific is expected to grow at fastest pace due to increasing digitalization across industries in developing economies.
Regional analysis: North America holds largest share in the EPC consulting market currently primarily due to strong economy and huge capital investments in the manufacturing and process industries. Asia Pacific is emerging as high growth regional market attributed to rising adoption of advanced consulting services across industries such as chemicals, oil and gas, food and beverages in developing countries.
Key players: Key players operating in the EPC consulting market are Zeta Global Corp, Oracle Corporation, mParticle Inc., Salesforce.com Inc., BlueConic, Adobe Inc., Tealium, SAP SE, Acquia Inc., and Segment.Io Inc. (Twilio). Players focus on new product development and acquisitions to gain competitive advantage in the market. For instance, in 2022, Segment acquired Etsy’s customer data platform business to enhance its product capabilities.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
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