EPC & Construction
The sector has witnessed consistent changes over the past few years, with increasing project sizes, scale and market maturity. Riding on India’s infrastructure requirements over the next five years, the EPC sector is likely to make major advances. The sector is also attracting an increased interest from global majors, Indian conglomerates, as well as infrastructure developers.
Currently, the Indian EPC sector, with its rising prominence and changing dynamics, has more than 150 participants and a multitude of stakeholders. Players have carved out a niche for themselves and have developed their reputation, based on their sector focus. Some have also divested their operations in other sectors, thereby segregating the entire EPC space, based on operational segments.
The Indian EPC sector has both Indian and international EPC contractors. While several international EPC players have already established their presence in the Indian market in specific segments of construction, some are considering entering amid stagnant markets in Europe and the US. Although the EPC contract and its fundamentals are similar in India and abroad, the quality and strength of the players vary. Large global players have in-house research centers and possess state-of-the-art technologies. They have, over the years, transformed themselves into solution providers from being a contractor. It has been observed that global EPC players are very strong in engineering and design while their Indian counterparts are primarily focused on the “C” / construction, a majority of Indian players are yet to move beyond the “C” of EPC.
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