Key Insights
The Iraq Power EPC (Engineering, Procurement, and Construction) market presents a significant growth opportunity, driven by the nation's increasing energy demands and ongoing infrastructure development. With a Compound Annual Growth Rate (CAGR) exceeding 5% from 2019 to 2033, the market is projected to reach substantial value. This growth is fueled by several key factors, including the government's focus on diversifying its energy sources beyond reliance on oil and gas, and investments in renewable energy projects like solar and wind power. The expansion of the national grid and the need to improve power generation capacity further contribute to the market's upward trajectory. While challenges remain, such as political instability and funding constraints, the long-term outlook for the Iraq Power EPC market remains positive. The market is segmented by power generation sources, encompassing thermal, renewable, and other sources. Key players, including international giants like Siemens AG and General Electric Company alongside regional EPC firms like Unitech EPC Solutions and MAPNA Group, are actively competing for project contracts. The dominance of thermal power generation is gradually shifting towards an increased share for renewable energy sources, reflecting both government policy and global trends towards sustainable energy solutions. This transition requires significant investment and technological expertise, driving demand for sophisticated EPC services. The market's performance in the coming years will largely hinge on successful project execution, sustained investment, and the overall stability of the Iraqi economy.
The significant growth in the Iraqi power sector is attracting considerable foreign investment, leading to increased competition among EPC companies. This competitive landscape fosters innovation and the adoption of advanced technologies in power generation. However, regulatory hurdles and bureaucratic processes can sometimes impede project implementation. Effective risk management strategies are therefore crucial for companies operating in this market. The focus on sustainable energy development is expected to drive demand for specialized EPC services in renewable energy projects, further shaping the market's composition and demanding expertise in areas such as solar photovoltaic (PV) systems, wind farms, and hybrid energy solutions. The continued expansion of the Iraqi power grid and the drive for improved electricity reliability will provide continuous opportunities for EPC firms. Analyzing historical data from 2019-2024 alongside projected trends allows for informed predictions about future market size and dynamics, informing strategic decisions by both investors and EPC companies operating in Iraq.

Iraq Power EPC Market: A Comprehensive Report (2019-2033)
This detailed report provides a comprehensive analysis of the Iraq Power Engineering, Procurement, and Construction (EPC) market from 2019 to 2033. It offers in-depth insights into market size, growth drivers, challenges, and opportunities, equipping stakeholders with actionable intelligence to navigate this dynamic sector. The report covers key segments, including Thermal, Renewable, and Other Power Generation Sources, and profiles leading players such as Unitech EPC Solutions, Shamara Holding Group, Siemens AG, North Power Company Ltd, MAPNA Group, Mytilineos S.A, Power Generation Engineering and Service Company, and General Electric Company. The study period spans 2019-2033, with 2025 as the base and estimated year.
Iraq Power EPC Market Market Concentration & Innovation
This section analyzes the competitive landscape of the Iraq Power EPC market, assessing market concentration, innovation drivers, regulatory frameworks, and M&A activities. The market is characterized by a mix of international and domestic players, with a few dominant firms holding significant market share. Precise market share data is unavailable for a granular assessment, but estimations suggest a relatively concentrated market with a few major players accounting for a combined xx% market share in 2025. Innovation is driven by the need to increase efficiency, reduce costs, and meet stringent environmental regulations.
- Market Concentration: Moderate concentration with a few major players holding significant market share.
- Innovation Drivers: Government policies promoting renewable energy, technological advancements in power generation, and the need to improve grid infrastructure.
- Regulatory Frameworks: Government regulations and licensing requirements influence market entry and operations. Changes in these regulations significantly impact investment decisions and market dynamics.
- Product Substitutes: Limited substitutes exist in the power generation segment; however, technological advancements may introduce alternatives.
- End-User Trends: Increasing demand for reliable and efficient power supply from both residential and industrial sectors.
- M&A Activities: While precise M&A deal values are unavailable for this report, activity in this sector is expected to increase alongside market growth and consolidation among existing players. Further research into specific deals within the study period is recommended for precise quantification.
Iraq Power EPC Market Industry Trends & Insights
The Iraq Power EPC market exhibits strong growth potential driven by increasing energy demand, government initiatives promoting power sector development, and substantial investments in renewable energy projects. The Compound Annual Growth Rate (CAGR) for the forecast period (2025-2033) is estimated at xx%. Market penetration of renewable energy sources is gradually increasing, driven by government support and decreasing costs of renewable energy technologies. Technological disruptions, such as the integration of smart grids and advanced energy storage solutions, are reshaping the market landscape. However, challenges persist, including security concerns and political instability. Competition is intensifying with both domestic and international firms vying for market share.

Dominant Markets & Segments in Iraq Power EPC Market
The thermal power generation segment currently dominates the Iraq Power EPC market due to existing infrastructure and readily available fuel sources. However, the renewable energy segment is experiencing rapid growth due to government support for solar and wind energy projects. Southern Iraq, particularly regions surrounding Baghdad, exhibit high project concentration due to existing infrastructure and energy demands. The following factors influence segment dominance:
- Thermal Power Generation:
- Reliable and well-established infrastructure.
- Abundant natural gas reserves.
- Existing power plants requiring upgrades and maintenance.
- Renewable Power Generation:
- Government initiatives promoting renewable energy adoption.
- High solar irradiation levels, favorable for solar PV projects.
- Potential for wind energy development in certain regions.
- Other Power Generation Sources: This segment is relatively smaller compared to thermal and renewable and includes other emerging sources like co-generation or waste-to-energy. The potential of this sector will depend on future policy support and investment.
Iraq Power EPC Market Product Developments
Recent product innovations focus on enhancing the efficiency and reliability of power generation systems. This includes advancements in combined cycle gas turbines and the integration of smart grid technologies. The market is witnessing a shift towards environmentally friendly solutions, such as solar PV and wind energy systems. These developments are driven by increasing environmental awareness and government regulations promoting renewable energy. The focus is on improving operational efficiency and reducing environmental impacts.
Report Scope & Segmentation Analysis
The report segments the Iraq Power EPC market based on power generation source:
- Thermal: This segment includes projects focused on gas-fired and other thermal power plants. It is the largest segment currently, but growth is projected to slow as the market transitions towards renewables. Market size in 2025 is estimated at xx Million, with projected growth at xx% CAGR during 2025-2033.
- Renewable: This fast-growing segment encompasses solar, wind, and other renewable energy projects. Market size in 2025 is projected at xx Million, with significantly faster growth at xx% CAGR during 2025-2033.
- Other: This segment includes smaller niche power generation projects. Market size in 2025 is estimated at xx Million with growth potential dependent on investment in emerging technologies. CAGR is estimated at xx% during 2025-2033.
Key Drivers of Iraq Power EPC Market Growth
The Iraq Power EPC market is driven by several factors:
- Increasing Energy Demand: Rising population and industrialization drive the need for increased power generation capacity.
- Government Initiatives: Government investments in infrastructure development and renewable energy projects stimulate market growth.
- Technological Advancements: Improvements in power generation technologies enhance efficiency and reduce costs.
- Foreign Investments: Investments from international companies contribute to the development of the power sector.
Challenges in the Iraq Power EPC Market Sector
The Iraq Power EPC market faces several challenges:
- Political Instability and Security Concerns: These factors impact investment decisions and project implementation.
- Infrastructure Deficiencies: Existing infrastructure limitations impede the efficient delivery of power.
- Regulatory Hurdles: Complex regulatory frameworks and bureaucratic processes can slow down project development.
- Funding Constraints: Securing adequate funding for large-scale projects remains a challenge.
Emerging Opportunities in Iraq Power EPC Market
Several emerging opportunities exist in the Iraqi Power EPC market:
- Renewable Energy Development: Significant potential exists in solar, wind, and other renewable energy projects.
- Smart Grid Technologies: Implementation of smart grids can improve efficiency and reliability of power distribution.
- Energy Storage Solutions: Integration of energy storage solutions enhances grid stability and reduces reliance on fossil fuels.
- Government Support for Private Sector Investment: Increased government support can attract more private investment to the sector.
Leading Players in the Iraq Power EPC Market Market
- Unitech EPC Solutions
- Shamara Holding Group
- Siemens AG
- North Power Company Ltd
- MAPNA Group
- Mytilineos S.A
- Power Generation Engineering and Service Company
- General Electric Company
Key Developments in Iraq Power EPC Market Industry
- December 2021: The Iraqi cabinet approved two solar power projects: 300 MW in Karbala and 225 MW in Alexandria/Iskandariya. This significantly boosted the renewable energy sector.
- May 2022: Alba awarded an EPC contract to Mitsubishi Power and SEPCO III for a 680.9 MW combined cycle gas turbine power block. This highlights continued investment in thermal power generation.
- October 2022: The Ministerial Council for Energy approved a 200 MW solar power station in Karbala governorate, further demonstrating commitment to renewable energy expansion. These projects signify a notable shift toward diversifying power sources.
Strategic Outlook for Iraq Power EPC Market Market
The Iraq Power EPC market is poised for substantial growth in the coming years. Continued government investment in infrastructure and renewable energy, coupled with increasing energy demand, presents significant opportunities for EPC contractors. Technological advancements and foreign investment will further drive market expansion. However, addressing political and security concerns will be critical to realizing the full potential of this market. The long-term outlook is positive, with substantial growth expected in both thermal and renewable energy segments.
Iraq Power EPC Market Segmentation
-
1. Power Generation Source
- 1.1. Thermal
- 1.2. Renewable
- 1.3. Other Power Generation Sources
- 2. Power Tr
Iraq Power EPC Market Segmentation By Geography
- 1. Iraq

Iraq Power EPC Market REPORT HIGHLIGHTS
Aspects | Details |
---|---|
Study Period | 2019-2033 |
Base Year | 2024 |
Estimated Year | 2025 |
Forecast Period | 2025-2033 |
Historical Period | 2019-2024 |
Growth Rate | CAGR of > 5.00% from 2019-2033 |
Segmentation |
|
Table of Contents
- 1. Introduction
- 1.1. Research Scope
- 1.2. Market Segmentation
- 1.3. Research Methodology
- 1.4. Definitions and Assumptions
- 2. Executive Summary
- 2.1. Introduction
- 3. Market Dynamics
- 3.1. Introduction
- 3.2. Market Drivers
- 3.2.1. 4.; Favorable Government Policies4.; Reduced Cost of Solar Energy Systems
- 3.3. Market Restrains
- 3.3.1. 4.; Lack of Financing Options Coupled with Difficulties in Integrating Residential Solar PV Systems in Regions like Africa
- 3.4. Market Trends
- 3.4.1. Thermal to Dominate the Market
- 4. Market Factor Analysis
- 4.1. Porters Five Forces
- 4.2. Supply/Value Chain
- 4.3. PESTEL analysis
- 4.4. Market Entropy
- 4.5. Patent/Trademark Analysis
- 5. Iraq Power EPC Market Analysis, Insights and Forecast, 2019-2031
- 5.1. Market Analysis, Insights and Forecast - by Power Generation Source
- 5.1.1. Thermal
- 5.1.2. Renewable
- 5.1.3. Other Power Generation Sources
- 5.2. Market Analysis, Insights and Forecast - by Power Tr
- 5.3. Market Analysis, Insights and Forecast - by Region
- 5.3.1. Iraq
- 5.1. Market Analysis, Insights and Forecast - by Power Generation Source
- 6. Competitive Analysis
- 6.1. Market Share Analysis 2024
- 6.2. Company Profiles
- 6.2.1 Unitech EPC Solutions
- 6.2.1.1. Overview
- 6.2.1.2. Products
- 6.2.1.3. SWOT Analysis
- 6.2.1.4. Recent Developments
- 6.2.1.5. Financials (Based on Availability)
- 6.2.2 Shamara Holding Group
- 6.2.2.1. Overview
- 6.2.2.2. Products
- 6.2.2.3. SWOT Analysis
- 6.2.2.4. Recent Developments
- 6.2.2.5. Financials (Based on Availability)
- 6.2.3 Siemens AG
- 6.2.3.1. Overview
- 6.2.3.2. Products
- 6.2.3.3. SWOT Analysis
- 6.2.3.4. Recent Developments
- 6.2.3.5. Financials (Based on Availability)
- 6.2.4 North Power Company Ltd
- 6.2.4.1. Overview
- 6.2.4.2. Products
- 6.2.4.3. SWOT Analysis
- 6.2.4.4. Recent Developments
- 6.2.4.5. Financials (Based on Availability)
- 6.2.5 MAPNA Group*List Not Exhaustive
- 6.2.5.1. Overview
- 6.2.5.2. Products
- 6.2.5.3. SWOT Analysis
- 6.2.5.4. Recent Developments
- 6.2.5.5. Financials (Based on Availability)
- 6.2.6 Mytilineos S A
- 6.2.6.1. Overview
- 6.2.6.2. Products
- 6.2.6.3. SWOT Analysis
- 6.2.6.4. Recent Developments
- 6.2.6.5. Financials (Based on Availability)
- 6.2.7 Power Generation Engineering and Service Company
- 6.2.7.1. Overview
- 6.2.7.2. Products
- 6.2.7.3. SWOT Analysis
- 6.2.7.4. Recent Developments
- 6.2.7.5. Financials (Based on Availability)
- 6.2.8 General Electric Company
- 6.2.8.1. Overview
- 6.2.8.2. Products
- 6.2.8.3. SWOT Analysis
- 6.2.8.4. Recent Developments
- 6.2.8.5. Financials (Based on Availability)
- 6.2.1 Unitech EPC Solutions
List of Figures
- Figure 1: Iraq Power EPC Market Revenue Breakdown (Million, %) by Product 2024 & 2032
- Figure 2: Iraq Power EPC Market Share (%) by Company 2024
List of Tables
- Table 1: Iraq Power EPC Market Revenue Million Forecast, by Region 2019 & 2032
- Table 2: Iraq Power EPC Market Revenue Million Forecast, by Power Generation Source 2019 & 2032
- Table 3: Iraq Power EPC Market Revenue Million Forecast, by Power Tr 2019 & 2032
- Table 4: Iraq Power EPC Market Revenue Million Forecast, by Region 2019 & 2032
- Table 5: Iraq Power EPC Market Revenue Million Forecast, by Country 2019 & 2032
- Table 6: Iraq Power EPC Market Revenue Million Forecast, by Power Generation Source 2019 & 2032
- Table 7: Iraq Power EPC Market Revenue Million Forecast, by Power Tr 2019 & 2032
- Table 8: Iraq Power EPC Market Revenue Million Forecast, by Country 2019 & 2032
Frequently Asked Questions
1. What is the projected Compound Annual Growth Rate (CAGR) of the Iraq Power EPC Market?
The projected CAGR is approximately > 5.00%.
2. Which companies are prominent players in the Iraq Power EPC Market?
Key companies in the market include Unitech EPC Solutions, Shamara Holding Group, Siemens AG, North Power Company Ltd, MAPNA Group*List Not Exhaustive, Mytilineos S A, Power Generation Engineering and Service Company, General Electric Company.
3. What are the main segments of the Iraq Power EPC Market?
The market segments include Power Generation Source, Power Tr.
4. Can you provide details about the market size?
The market size is estimated to be USD XX Million as of 2022.
5. What are some drivers contributing to market growth?
4.; Favorable Government Policies4.; Reduced Cost of Solar Energy Systems.
6. What are the notable trends driving market growth?
Thermal to Dominate the Market.
7. Are there any restraints impacting market growth?
4.; Lack of Financing Options Coupled with Difficulties in Integrating Residential Solar PV Systems in Regions like Africa.
8. Can you provide examples of recent developments in the market?
October 2022: The Ministerial Council for Energy of Iraq approved a 200-MW solar power station in the Karbala governorate. In December 2021, the cabinet agreed to construct two solar power projects in Karbala of 300 MW capacity and Alexandria/Iskandariya of 225 MW capacity.
9. What pricing options are available for accessing the report?
Pricing options include single-user, multi-user, and enterprise licenses priced at USD 3800, USD 4500, and USD 5800 respectively.
10. Is the market size provided in terms of value or volume?
The market size is provided in terms of value, measured in Million.
11. Are there any specific market keywords associated with the report?
Yes, the market keyword associated with the report is "Iraq Power EPC Market," which aids in identifying and referencing the specific market segment covered.
12. How do I determine which pricing option suits my needs best?
The pricing options vary based on user requirements and access needs. Individual users may opt for single-user licenses, while businesses requiring broader access may choose multi-user or enterprise licenses for cost-effective access to the report.
13. Are there any additional resources or data provided in the Iraq Power EPC Market report?
While the report offers comprehensive insights, it's advisable to review the specific contents or supplementary materials provided to ascertain if additional resources or data are available.
14. How can I stay updated on further developments or reports in the Iraq Power EPC Market?
To stay informed about further developments, trends, and reports in the Iraq Power EPC Market, consider subscribing to industry newsletters, following relevant companies and organizations, or regularly checking reputable industry news sources and publications.
Methodology
Step 1 - Identification of Relevant Samples Size from Population Database



Step 2 - Approaches for Defining Global Market Size (Value, Volume* & Price*)

Note*: In applicable scenarios
Step 3 - Data Sources
Primary Research
- Web Analytics
- Survey Reports
- Research Institute
- Latest Research Reports
- Opinion Leaders
Secondary Research
- Annual Reports
- White Paper
- Latest Press Release
- Industry Association
- Paid Database
- Investor Presentations

Step 4 - Data Triangulation
Involves using different sources of information in order to increase the validity of a study
These sources are likely to be stakeholders in a program - participants, other researchers, program staff, other community members, and so on.
Then we put all data in single framework & apply various statistical tools to find out the dynamic on the market.
During the analysis stage, feedback from the stakeholder groups would be compared to determine areas of agreement as well as areas of divergence