Global Oil and Gas EPC Market Report 2020-2027

Category:

Key Questions Answered in this Report:
• How this market evolved since the year 2019
• Market size estimations, forecasts and CAGR for all the segments presented in the scope
• Key Market Developments and financials of the key players
• Opportunity Analysis for the new entrants
• SWOT Analysis of the key players
• Fastest growing markets analysed during the forecast period

 

$1,500.00

Global Oil and Gas EPC Market Report 2020-2027

Description

The Global Oil & Gas EPC market is expected to reach $60.41 billion by 2027 growing at a CAGR of 7.1% during 2019 to 2027. Energy consumption is increasing day-by-day on account of the growing population and power consumption per capita. Although there is an increasing trend of power production from renewable sources, power production from oil and gas dominates the power production. The increasing number of cars positively influences the consumption of petroleum products like petrol, diesel, and CNG. Engineering, procurement, and construction for oil and gas industry play a major role to cater to increasing demand for oil and gas. For oil and gas industry, Engineering, Procurement, and Construction (EPC) is a form of a contract agreement. The contractor carries out detailed design and layout, procurement of equipment and material, manufacturing of systems (either by labour or third-party), onsite assembly, and functional testing. EPC contractors deliver an effective asset to the client. Sometimes, the EPC contractors have service and maintenance contracts with the clients.

Key Questions the Report Answers

  • How are key market players successfully earning revenues in the competitive global oil & gas EPC market?
  • How are key market players successfully earning revenues in the competitive global oil & gas EPC market?
  • What are the winning imperatives of leading players operating in the global oil & gas EPC market?
  • Which sector segment of the global oil & gas EPC market is expected to offer the maximum growth potential during the forecast period?

Factors such as declining operating costs of oil & gas fields, expansion in the downstream sector, increasing demand for LNG infrastructure, technological improvements, and increasing viability of deepwater and ultra-deepwater projects are driving the market growth. However, low price of crude oil and lack of skilled labours are hindering the market growth.

Based on the application, the onshore segment is going to have a lucrative growth during the forecast period owing to the lesser complexity, lower investment requirement, easier access to sites, and lower risk, compared to the offshore segment. The technical developments in hydraulic fracturing and low breakeven prices have supported the onshore segment, ensuing high demand for EPC companies.

The key vendors mentioned are Jacobs Engineering Group Inc., Hyundai Heavy Industries Co. Ltd, Samsung Engineering Co. Ltd, John Wood Group PLC, Bechtel Corporation, KBR Inc., Saipem SpA, TATA Projects Ltd., Larsen & Toubro, Fluor Corporation, TechnipFmc Plc, Hexa Oil & Gas Services LLC, Petrofac Ltd., CNGS Group, McDermott International, Inc., and National Petroleum Construction Company.

Sectors Covered:
• Downstream
• Midstream
• Upstream

Service Types Covered:
• Engineering
• Combination
• Procurement
• Construction
• Fabrication

Applications Covered:
• Offshore
• Onshore

End Users Covered:
• Oil Industry
• Gas Industry

Regions Covered:
• North America
• Europe
• Asia Pacific
• South America
• Middle East & Africa

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