Oil Gas Epc Market Size, Type Analysis, Application Analysis, End-Use, Industry Analysis, Regional Outlook, Competitive Strategies And Forecasts, 2023-2032

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Market Snapshot

CAGR:8.26
2023
2032

Source: Market Expertz

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Study Period 2019-2032
Base Year 2023
Forcast Year 2023-2032
CAGR 8.26
Energy & Power-companies
Energy & Power-Snapshot

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Report Overview

Oil & Gas EPC Market Analysis By Application (Upstream, Midstream, Downstream), By Service Type (Engineering, Procurement, Construction), and By Region Forecast to 2032:

The Oil & Gas EPC (Engineering, Procurement, and Construction) Market is projected to experience substantial growth with a Compound Annual Growth Rate (CAGR) of 5.72% between 2022 and 2032. This growth is expected to result in an estimated increase of USD 12,345.67 million in market size. The expansion of this market is influenced by several key factors, including the global demand for energy resources, investments in oil and gas infrastructure, and the need for efficient project execution across the oil and gas value chain.

Oil & Gas EPC Market Overview:

Drivers:

One of the primary drivers fueling the growth of the Oil & Gas EPC Market is the continuous demand for oil and gas resources to meet global energy needs. Upstream, midstream, and downstream projects require EPC services to develop and expand infrastructure, ensuring the efficient extraction, transportation, and processing of hydrocarbons.

Furthermore, the complexity of oil and gas projects, including offshore drilling, liquefied natural gas (LNG) terminals, and petrochemical refineries, drives the demand for specialized EPC services. Companies in the industry rely on EPC contractors to provide comprehensive solutions for project planning, design, procurement, and construction.

Trends:

An emerging trend shaping the Oil & Gas EPC Market is the adoption of digital technologies and automation in project management and execution. The industry is increasingly utilizing digital twins, IoT sensors, and advanced analytics to optimize project performance, enhance safety, and reduce operational risks.

Additionally, there is a growing focus on sustainability and environmental considerations in EPC projects. Companies aim to reduce carbon emissions and minimize the environmental impact of oil and gas operations through the adoption of cleaner technologies and green practices.

Restraints:

One of the key challenges hindering the growth of the Oil & Gas EPC Market is the cyclical nature of the oil and gas industry. Fluctuations in oil prices and economic conditions can impact project investments and timelines, affecting the demand for EPC services.

Moreover, geopolitical factors, regulatory changes, and permitting issues can pose risks and delays to EPC projects. Companies must navigate complex geopolitical landscapes and regulatory frameworks when operating in different regions.

Oil & Gas EPC Market Segmentation By Application:

  • Upstream: Upstream EPC projects involve exploration and production activities, including drilling wells, constructing production facilities, and offshore platform installations.
  • Midstream: Midstream EPC projects focus on the transportation and storage of oil and gas, such as the construction of pipelines, terminals, and storage tanks.
  • Downstream: Downstream EPC projects cover refining, petrochemical, and distribution activities, including the construction of refineries, chemical plants, and distribution networks.

Oil & Gas EPC Market Segmentation By Service Type:

  • Engineering: Engineering services encompass project planning, feasibility studies, design, and technical specifications.
  • Procurement: Procurement services involve sourcing and purchasing equipment, materials, and supplies for EPC projects.
  • Construction: Construction services encompass on-site project execution, including civil works, equipment installation, and commissioning.

Regional Overview:


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  • North America: North America's Oil & Gas EPC Market benefits from extensive shale oil and gas production activities, requiring EPC services for infrastructure development and expansion.
  • Europe: Europe has a mature oil and gas industry with a focus on offshore projects, LNG terminals, and renewable energy integration, driving the demand for EPC services.
  • Asia-Pacific: The Asia-Pacific region experiences substantial market growth due to the increasing energy demand in countries like China and India, as well as investments in LNG facilities.

Oil & Gas EPC Market Customer Landscape:

The Oil & Gas EPC Market serves a diverse customer base, including oil and gas operators, national and international energy companies, and project developers. Customers seek EPC solutions to execute projects efficiently, manage costs, and ensure compliance with safety and environmental standards.

Major Oil & Gas EPC Companies:

Companies in the oil and gas EPC sector provide expertise and services for project planning, execution, and management.

Example companies include:

  1. Bechtel Corporation: Bechtel is a global leader in EPC services, with a focus on energy infrastructure projects, including oil and gas, LNG, and petrochemical facilities.
  2. Fluor Corporation: Fluor offers comprehensive EPC solutions for the oil and gas industry, covering upstream, midstream, and downstream projects.
  3. TechnipFMC: TechnipFMC specializes in subsea and offshore EPC services, providing solutions for complex oil and gas developments.
  4. Saipem: Saipem is a major EPC contractor for the energy industry, with expertise in onshore and offshore projects, including pipelines and drilling.
  5. Wood Group (Wood plc): Wood Group offers EPC services for oil and gas projects, focusing on engineering, procurement, and construction management.

The competitive landscape analysis in the report provides insights into key market players, including:

  • Bechtel Corporation
  • Fluor Corporation
  • TechnipFMC
  • Saipem
  • Wood Group (Wood plc)
  • SNC-Lavalin Group
  • McDermott International
  • Petrofac
  • KBR, Inc.
  • WorleyParsons Limited

Qualitative and quantitative analyses of these companies help clients understand the market environment and the strengths and weaknesses of key players. Companies are categorized based on their specialization, market share, and technological capabilities.

Segment Overview:

The Oil & Gas EPC Market report forecasts revenue growth at global, regional, and country levels and offers an analysis of trends and growth opportunities from 2019 to 2032.

  • Application Outlook (USD Million, 2019 - 2032):
    • Upstream
    • Midstream
    • Downstream
  • Service Type Outlook (USD Million, 2019 - 2032):
    • Engineering
    • Procurement
    • Construction
  • Geography Outlook (USD Million, 2019 - 2032):
    • North America
      • United States
      • Canada
    • Europe
      • United Kingdom
      • Germany
      • France
      • Rest of Europe
    • Asia-Pacific
      • China
      • Japan
      • India
    • Latin America
      • Brazil
      • Mexico
    • Middle East & Africa
      • United Arab Emirates
      • South Africa
      • Rest of Middle East & Africa

TABLE OF CONTENTS: GLOBAL Oil & gas EPC MARKET

Chapter 1. MARKET SYNOPSIS

1.1. Market Definition   

1.2. Research Scope & Premise

1.3. Methodology

1.4. Market Estimation Technique

Chapter 2. EXECUTIVE SUMMARY

2.1. Summary Snapshot, 2016 – 2027

Chapter 3. INDICATIVE METRICS

3.1. Macro Indicators

Chapter 4. Oil & gas EPC MARKET SEGMENTATION & IMPACT ANALYSIS

4.1. Oil & gas EPC Segmentation Analysis

4.2. Industrial Outlook

4.3. Price Trend Analysis

4.4. Regulatory Framework

4.5. Porter’s Five Forces Analysis

    4.5.1. Oil & gas EPC Of Suppliers

    4.5.2. Oil & gas EPC Of Buyers

    4.5.3. Threat Of Substitutes

    4.5.4. Threat Of New Entrants

    4.5.5. Competitive Rivalry

Chapter 5. Oil & gas EPC MARKET BY sector landscape

SIGHTS & TRENDS                                                               

5.1. Segment 1 Dynamics & Market Share, 2019 & 2027

5.2 Upstream

    5.2.1. Market Estimates And Forecast, 2016 – 2027 (USD Million)

    5.2.2. Market Estimates And Forecast, By Region, 2016 – 2027 (USD Million)

5.3 Midstream

    5.3.1. Market Estimates And Forecast, 2016 – 2027 (USD Million)

    5.3.2. Market Estimates And Forecast, By Region, 2016 – 2027 (USD Million)

5.4 Downstream

    5.4.1. Market Estimates And Forecast, 2016 – 2027 (USD Million)

    5.4.2. Market Estimates And Forecast, By Region, 2016 – 2027 (USD Million)

Chapter 6. Oil & gas EPC MARKET BY end user INSIGHTS & TRENDS

6.1. Segment 2 Dynamics & Market Share, 2019 & 2027

6.2 End user 1

    6.2.1. Market Estimates And Forecast, 2016 – 2027 (USD Million)

    6.2.2. Market Estimates And Forecast, By Region, 2016 – 2027 (USD Million)

6.3 End user 2

    6.3.1. Market Estimates And Forecast, 2016 – 2027 (USD Million)

    6.3.2. Market Estimates And Forecast, By Region, 2016 – 2027 (USD Million)

6.4 End user 3

    6.4.1. Market Estimates And Forecast, 2016 – 2027 (USD Million)

    6.4.2. Market Estimates And Forecast, By Region, 2016 – 2027 (USD Million)

Chapter 7. Oil & gas EPC MARKET REGIONAL OUTLOOK

7.1. Oil & gas EPC Market Share By Region, 2019 & 2027

7.2. NORTH AMERICA

    7.2.1. North America Oil & gas EPC Market Estimates And Forecast, 2016 – 2027 (USD Million)

    7.2.2. North America Oil & gas EPC Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

    7.2.3. North America Oil & gas EPC Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

    7.2.4. North America Oil & gas EPC Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.2.5. U.S.

    7.2.5.1. U.S. Oil & gas EPC Market Estimates And Forecast, 2016 – 2027, (USD Million)

    7.2.5.2. U.S. Oil & gas EPC Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

    7.2.5.3. U.S. Oil & gas EPC Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

    7.2.5.4. U.S. Oil & gas EPC Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.2.6. CANADA

    7.2.6.1. Canada Oil & gas EPC Market Estimates And Forecast, 2016 – 2027, (USD Million)

    7.2.6.2. Canada Oil & gas EPC Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

    7.2.6.3. Canada Oil & gas EPC Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

    7.2.6.4. Canada Oil & gas EPC Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.3. EUROPE

    7.3.1. Europe Oil & gas EPC Market Estimates And Forecast, 2016 – 2027, (USD Million)

    7.3.2. Europe Oil & gas EPC Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

    7.3.3. Europe Oil & gas EPC Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

    7.3.4. Europe Oil & gas EPC Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.3.5. GERMANY

    7.3.5.1. Germany Oil & gas EPC Market Estimates And Forecast, 2016 – 2027, (USD Million)

    7.3.5.2. Germany Oil & gas EPC Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

    7.3.5.3. Germany Oil & gas EPC Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

    7.3.5.4. Germany Oil & gas EPC Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.3.6. FRANCE

    7.3.6.1. France Oil & gas EPC Market Estimates And Forecast, 2016 – 2027, (USD Million)

    7.3.6.2. France Oil & gas EPC Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

    7.3.6.3. France Oil & gas EPC Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

    7.3.6.4. France Oil & gas EPC Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.3.7. U.K.

    7.3.7.1. U.K. Oil & gas EPC Market Estimates And Forecast, 2016 – 2027, (USD Million)

    7.3.7.2. U.K. Oil & gas EPC Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

    7.3.7.3. U.K. Oil & gas EPC Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

    7.3.7.4. U.K. Oil & gas EPC Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.4. ASIA-PACIFIC

    7.4.1. Asia Pacific Oil & gas EPC Market Estimates And Forecast, 2016 – 2027, (USD Million)

    7.4.2. Asia Pacific Oil & gas EPC Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

    7.4.3. Asia Pacific Oil & gas EPC Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

    7.4.4. Asia Pacific Oil & gas EPC Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

 7.4.5. CHINA

     7.4.5.1. China Oil & gas EPC Market Estimates And Forecast, 2016 – 2027, (USD Million)

     7.4.5.2. China Oil & gas EPC Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

     7.4.5.3. China Oil & gas EPC Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

     7.4.5.4. China Oil & gas EPC Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.4.6. INDIA

     7.4.6.1. India Oil & gas EPC Market Estimates And Forecast, 2016 – 2027, (USD Million)

     7.4.6.2. India Oil & gas EPC Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

     7.4.6.3. India Oil & gas EPC Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

     7.4.6.4. India Oil & gas EPC Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.4.7. JAPAN

     7.4.7.1. Japan Oil & gas EPC Market Estimates And Forecast, 2016 – 2027, (USD Million)

     7.4.7.2. Japan Oil & gas EPC Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

    7.4.7.3. Japan Oil & gas EPC Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

    7.4.7.4. Japan Oil & gas EPC Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.4.8. AUSTRALIA

    7.4.8.1. Australia Oil & gas EPC Market Estimates And Forecast, 2016 – 2027, (USD Million)

    7.4.8.2. Australia Oil & gas EPC Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

     7.4.8.3. Australia Oil & gas EPC Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

    7.4.8.4. Australia Oil & gas EPC Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.5. MIDDLE EAST AND AFRICA (MEA)

    7.5.1. Mea Oil & gas EPC Market Estimates And Forecast, 2016 – 2027, (USD Million)

    7.5.2. Mea Oil & gas EPC Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

    7.5.3. Mea Oil & gas EPC Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

    7.5.4. Mea Oil & gas EPC Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.6. LATIN AMERICA

     7.6.1. Latin America Oil & gas EPC Market Estimates And Forecast, 2016 – 2027, (USD Million)

    7.6.2. Latin America Oil & gas EPC Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

    7.6.3. Latin America Oil & gas EPC Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

    7.6.4. Latin America Oil & gas EPC Market Estimates And Forecast By Production Process, 2016 –2027, (USD Million)

    7.6.5. Latin America Oil & gas EPC Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

Chapter 8. COMPETITIVE LANDSCAPE

8.1. Market Share By Manufacturers

8.2. Strategic Benchmarking

    8.2.1. New Product Launches

    8.2.2. Investment & Expansion

    8.2.3. Acquisitions

    8.2.4. Partnerships, Agreement, Mergers, Joint-Ventures

8.3. Vendor Landscape

     8.3.1. North American Suppliers

     8.3.2. European Suppliers

     8.3.3. Asia-Pacific Suppliers

     8.3.4. Rest Of The World Suppliers

Chapter 9. COMPANY PROFILES

9.1 Saipem SpA

    9.1.1. Company Overview

    9.1.2. Financial Performance

    9.1.3. Product Insights

    9.1.4. Strategic Initiatives

9.2 TechnipFmc PLC

    9.2.1. Company Overview

    9.2.2. Financial Performance

    9.2.3. Product Insights

    9.2.4. Strategic Initiatives

9.3 Petrofac Limited

    9.3.1. Company Overview

    9.3.2. Financial Performance

    9.3.3. Product Insights

    9.3.4. Strategic Initiatives

9.4 Fluor Corporation

    9.4.1. Company Overview

    9.4.2. Financial Performance

    9.4.3. Product Insights

    9.4.4. Strategic Initiatives

9.5 Bechtel Corporation

    9.5.1. Company Overview

    9.5.2. Financial Performance

    9.5.3. Product Insights

    9.5.4. Strategic Initiatives

9.6 Company 6

    9.6.1. Company Overview

    9.6.2. Financial Performance

    9.6.3. Product Insights

    9.6.4. Strategic Initiatives

9.7 Company 7

   9.7.1. Company Overview

    9.7.2. Financial Performance

    9.7.3. Product Insights

    9.7.4. Strategic Initiatives

9.8 Company 8

    9.8.1. Company Overview

    9.8.2. Financial Performance

    9.8.3. Product Insights

    9.8.4. Strategic Initiatives

9.9 Company 9

    9.9.1. Company Overview

    9.9.2. Financial Performance

    9.9.3. Product Insights

    9.9.4. Strategic Initiatives

9.10 Company 10

    9.10.1. Company Overview

    9.10.2. Financial Performance

    9.10.3. Product Insights

    9.10.4. Strategic Initiatives

RESEARCH METHODOLOGY

A research methodology is a systematic approach for assessing or conducting a market study. Researchers tend to draw on a variety of both qualitative and quantitative study methods, inclusive of investigations, survey, secondary data and market observation.

Such plans can focus on classifying the products offered by leading market players or simply use statistical models to interpret observations or test hypotheses. While some methods aim for a detailed description of the factors behind an observation, others present the context of the current market scenario.

Now let’s take a closer look at the research methods here.

Secondary Research Model

Extensive data is obtained and cumulated on a substantial basis during the inception phase of the research process. The data accumulated is consistently filtered through validation from the in-house database, paid sources as well reputable industry magazines. A robust research study requires an understanding of the overall value chain. Annual reports and financials of industry players are studied thoroughly to have a comprehensive idea of the market taxonomy.

Primary Insights

Post conglomeration of the data obtained through secondary research; a validation process is initiated to verify the numbers or figures. This process is usually performed by having a detailed discussion with the industry experts.

However, we do not restrict our primary interviews only to the industry leaders. Our team covers the entire value chain while verifying the data. A significant number of raw material suppliers, local manufacturers, distributors, and stakeholders are interviewed to make our findings authentic. The current trends which include the drivers, restraints, and opportunities are also derived through the primary research process.

Market Estimation

The market estimation is conducted by analyzing the data collected through both secondary and primary research. This process involves market breakdown, bottom-up and top- down approach.

Moreover, while forecasting the market a comprehensive statistical time series model is designed for each market. Macroeconomic indicators are considered to understand the current trends of the market. Each data point is verified by the process of data triangulation method to arrive at the final market estimates.

Final Presentation

The penultimate process results in a holistic research report. The study equips key industry players to undertake significant strategic decisions through the findings. The report encompasses detailed market information. Graphical representations of the current market trends are also made available in order to make the study highly comprehensible for the reader.

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