According to data tracked by Timetric’s Construction Intelligence Centre (CIC), the global market for power generation construction projects is worth $4.78tn.
The report forecasts that these new power generation projects, $1.94tn of which are currently in the planning stage, will add a global energy capacity of up to 2,944GW.
By region, the Asia-Pacific (APAC) accounts for the significant majority of these projects, with a total valuation of $2.11tn, followed by the Middle East and Africa (MEA) with $906.2bn and the Americas with $890.2bn.
Broken down further by country, China leads the way with over $541bn of investment into power generation projects, followed by India with $470.5bn.
Nuclear power is the sector that accounts for the highest proportion at $1tn, with the second largest project that is currently in the pipeline being the El Dabaa Nuclear Power Plant in Egypt, only behind the UK’s $35bn East Anglia Offshore Windfarm Development.