Worldwide Oil & Gas EPC Industry to 2027 – Featuring Bechtel, Fluor and KBR Among Others – ResearchAndMarkets.com
DUBLIN–(BUSINESS WIRE)–The “Oil & Gas EPC Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” report has been added to ResearchAndMarkets.com’s offering.
The global oil & gas EPC market reached a value of US$ 44.70 Billion in 2021. Looking forward, the publisher expects the market to reach a value of US$ 62.34 Billion by 2027 exhibiting a CAGR of 5.40% during 2022-2027.
Companies Mentioned
- Bechtel Corporation
- Fluor Corporation
- Hyundai Heavy Industries Co. Ltd.
- John Wood Group PLC
- KBR Inc.
- Larsen & Toubro Limited
- McDermott International Ltd.
- National Petroleum Construction Company
- Petrofac Limited
- Saipem S.p.A. (Eni S.p.A.)
- Samsung Engineering Co. Ltd.
- TechnipFMC plc
- Tecnicas Reunidas S. A.
- WorleyParsons Limited
Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor.
Oil and gas, engineering, procurement, and construction (EPC) is a contract-based model that delivers a package of resources to complete infrastructure projects. The contractor carries out designing and detailed layout, onsite assembly, functional testing, procurement of equipment material, and manufacturing of systems. Oil and gas sectors rely on EPC contractors for long-term and large-scale projects that require skilled professional labor and fine-tuned project management. EPC contractors specialize in designing plans for aboveground storage tanks, power generation environmental controls, natural gas processing facilities, industrial power distribution, and material handling. It offers enhanced performance, flexibility, cost-effectiveness, and a single point of responsibility. EPC establishes a communication channel that allows the owners to manage all the relationships and infrastructure projects.
The significant expansion in the oil and gas industry across the globe is one of the key factors driving the market growth. EPC is widely adopted for designing and project execution, such as building storage systems, drilling platforms, and advanced systems for exploration. In line with this, the rising power consumption, increasing population, and initiatives undertaken by the governments to generate electricity from renewable resources are favoring the market growth. Moreover, various technological advancements, such as the integration of the Internet of Things (IoT) for EPC contractors, are providing an impetus to the market growth.
Additionally, the increasing demand for oil and gas EPC in the upstream sector as it offers fewer complexities, more accessibility to sites, lower investment requirement, and lower risk is positively impacting the market growth. Apart from this, the rapidly expanding automotive industry, the growing consumption of petroleum products, such as petrol, diesel, and CNG, and the implementation of various government initiatives to promote the oil and gas projects are creating a positive outlook for the market.
Key Questions Answered in This Report:
- How has the global oil & gas EPC market performed so far and how will it perform in the coming years?
- What has been the impact of COVID-19 on the global oil & gas EPC market?
- What are the key regional markets?
- What is the breakup of the market based on the sector?
- What is the breakup of the market based on the service type?
- What is the breakup of the market based on the location?
- What are the various stages in the value chain of the industry?
- What are the key driving factors and challenges in the industry?
- What is the structure of the global oil & gas EPC market and who are the key players?
- What is the degree of competition in the industry?
Key Topics Covered:
1 Preface
2 Scope and Methodology
3 Executive Summary
4 Introduction
4.1 Overview
4.2 Key Industry Trends
5 Global Oil & Gas EPC Market
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Forecast
6 Market Breakup by Sector
7 Market Breakup by Service Type
8 Market Breakup by Location
9 Market Breakup by Region
10 SWOT Analysis
11 Value Chain Analysis
12 Porters Five Forces Analysis
13 Price Analysis
14 Competitive Landscape
14.1 Market Structure
14.2 Key Players
14.3 Profiles of Key Players
For more information about this report visit https://www.researchandmarkets.com/r/khavv1
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