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Press Release:

Global Oil and Gas EPC Market to Grow at 5.40% During 2022-2027, Impelled by Increasing Demand for Energy Across the Globe

COVID-19
The pandemic continues to cause unprecedented disruption across industries worldwide.
Get detailed insights regarding the impact of COVID-19 on the market.

Oil and Gas EPC Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027

Market Overview:

The global oil and gas EPC market reached a value of US$ 44.70 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 62.34 Billion by 2027 exhibiting a CAGR of 5.40% during 2022-2027. 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.

 

 
 

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Oil & Gas EPC Market Trends:

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 Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global oil and gas EPC market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on sector, service type and location.

Breakup by Sector:

 

 
 

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  • Upstream
  • Midstream
  • Downstream
     

Breakup by Service Type:

  • Engineering
  • Procurement
  • Construction
  • Fabrication
     

Breakup by Location:

  • Onshore
  • Offshore
     

Breakup by Region:

 

 
 

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  • North America
    • United States
    • Canada
  • Asia-Pacific
    • China
    • Japan
    • India
    • South Korea
    • Australia
    • Indonesia
    • Others
  • Europe
    • Germany
    • France
    • United Kingdom
    • Italy
    • Spain
    • Russia
    • Others
  • Latin America
    • Brazil
    • Mexico
    • Others
  • Middle East and Africa
     

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players being 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, Técnicas Reunidas S. A. and WorleyParsons Limited.

Report Coverage:

Report Features Details
Base Year of the Analysis 2021
    Historical Period 2016-2021
Forecast Period 2022-2027
Units US$ Billion
Segment Coverage Sector, Service Type, Location, Region
Region Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered 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, Técnicas Reunidas S. A. and WorleyParsons Limited.
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 2499
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Corporate License: US$ 4499
Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

 

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?

1    Preface
2    Scope and Methodology
    2.1    Objectives of the Study
    2.2    Stakeholders
    2.3    Data Sources
        2.3.1    Primary Sources
        2.3.2    Secondary Sources
    2.4    Market Estimation
        2.4.1    Bottom-Up Approach
        2.4.2    Top-Down Approach
    2.5    Forecasting 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
    6.1    Upstream
        6.1.1 Market Trends
        6.1.2 Market Forecast
    6.2    Midstream
        6.2.1 Market Trends
        6.2.2 Market Forecast
    6.3    Downstream
        6.3.1 Market Trends
        6.3.2 Market Forecast
7    Market Breakup by Service Type
    7.1    Engineering
        7.1.1 Market Trends
        7.1.2 Market Forecast
    7.2    Procurement
        7.2.1 Market Trends
        7.2.2 Market Forecast
    7.3    Construction
        7.3.1 Market Trends
        7.3.2 Market Forecast
    7.4    Fabrication
        7.4.1 Market Trends
        7.4.2 Market Forecast
8    Market Breakup by Location
    8.1    Onshore
        8.1.1 Market Trends
        8.1.2 Market Forecast
    8.2    Offshore
        8.2.1 Market Trends
        8.2.2 Market Forecast
9    Market Breakup by Region
    9.1    North America
        9.1.1 United States
           9.1.1.1 Market Trends
           9.1.1.2 Market Forecast
        9.1.2 Canada
           9.1.2.1 Market Trends
           9.1.2.2 Market Forecast
    9.2    Asia-Pacific
        9.2.1 China
           9.2.1.1 Market Trends
           9.2.1.2 Market Forecast
        9.2.2 Japan
           9.2.2.1 Market Trends
           9.2.2.2 Market Forecast
        9.2.3 India
           9.2.3.1 Market Trends
           9.2.3.2 Market Forecast
        9.2.4 South Korea
           9.2.4.1 Market Trends
           9.2.4.2 Market Forecast
        9.2.5 Australia
           9.2.5.1 Market Trends
           9.2.5.2 Market Forecast
        9.2.6 Indonesia
           9.2.6.1 Market Trends
           9.2.6.2 Market Forecast
        9.2.7 Others
           9.2.7.1 Market Trends
           9.2.7.2 Market Forecast
    9.3    Europe
        9.3.1 Germany
           9.3.1.1 Market Trends
           9.3.1.2 Market Forecast
        9.3.2 France
           9.3.2.1 Market Trends
           9.3.2.2 Market Forecast
        9.3.3 United Kingdom
           9.3.3.1 Market Trends
           9.3.3.2 Market Forecast
        9.3.4 Italy
           9.3.4.1 Market Trends
           9.3.4.2 Market Forecast
        9.3.5 Spain
           9.3.5.1 Market Trends
           9.3.5.2 Market Forecast
        9.3.6 Russia
           9.3.6.1 Market Trends
           9.3.6.2 Market Forecast
        9.3.7 Others
           9.3.7.1 Market Trends
           9.3.7.2 Market Forecast
    9.4    Latin America
        9.4.1 Brazil
           9.4.1.1 Market Trends
           9.4.1.2 Market Forecast
        9.4.2 Mexico
           9.4.2.1 Market Trends
           9.4.2.2 Market Forecast
        9.4.3 Others
           9.4.3.1 Market Trends
           9.4.3.2 Market Forecast
    9.5    Middle East and Africa
        9.5.1 Market Trends
        9.5.2 Market Breakup by Country
        9.5.3 Market Forecast
10    SWOT Analysis
    10.1    Overview
    10.2    Strengths
    10.3    Weaknesses
    10.4    Opportunities
    10.5    Threats
11    Value Chain Analysis
12    Porters Five Forces Analysis
    12.1    Overview
    12.2    Bargaining Power of Buyers
    12.3    Bargaining Power of Suppliers
    12.4    Degree of Competition
    12.5    Threat of New Entrants
    12.6    Threat of Substitutes
13    Price Analysis
14    Competitive Landscape
    14.1    Market Structure
    14.2    Key Players
    14.3    Profiles of Key Players
        14.3.1    Bechtel Corporation
           14.3.1.1 Company Overview
           14.3.1.2 Product Portfolio
        14.3.2    Fluor Corporation
           14.3.2.1 Company Overview
           14.3.2.2 Product Portfolio
           14.3.2.3 Financials
           14.3.2.4 SWOT Analysis
        14.3.3    Hyundai Heavy Industries Co. Ltd.
           14.3.3.1 Company Overview
           14.3.3.2 Product Portfolio
        14.3.4    John Wood Group PLC
           14.3.4.1 Company Overview
           14.3.4.2 Product Portfolio
           14.3.4.3 Financials
           14.3.4.4 SWOT Analysis
        14.3.5    KBR Inc.
           14.3.5.1 Company Overview
           14.3.5.2 Product Portfolio
           14.3.5.3 Financials
           14.3.5.4 SWOT Analysis
        14.3.6    Larsen & Toubro Limited
           14.3.6.1 Company Overview
           14.3.6.2 Product Portfolio
           14.3.6.3 Financials
           14.3.6.4 SWOT Analysis
        14.3.7    McDermott International Ltd.
           14.3.7.1 Company Overview
           14.3.7.2 Product Portfolio
           14.3.7.3 Financials
           14.3.7.4 SWOT Analysis
        14.3.8    National Petroleum Construction Company
           14.3.8.1 Company Overview
           14.3.8.2 Product Portfolio
        14.3.9    Petrofac Limited
           14.3.9.1 Company Overview
           14.3.9.2 Product Portfolio
           14.3.9.3 Financials
           14.3.9.4 SWOT Analysis
        14.3.10    Saipem S.p.A. (Eni S.p.A.)
           14.3.10.1 Company Overview
           14.3.10.2 Product Portfolio
           14.3.10.3 Financials
           14.3.10.4 SWOT Analysis
        14.3.11    Samsung Engineering Co. Ltd.
           14.3.11.1 Company Overview
           14.3.11.2 Product Portfolio
           14.3.11.3 Financials
           14.3.11.4 SWOT Analysis
        14.3.12    TechnipFMC plc
           14.3.12.1 Company Overview
           14.3.12.2 Product Portfolio
           14.3.12.3 Financials
           14.3.12.4 SWOT Analysis
        14.3.13    Técnicas Reunidas S. A.
           14.3.13.1 Company Overview
           14.3.13.2 Product Portfolio
           14.3.13.3 Financials
           14.3.13.4 SWOT Analysis
        14.3.14    WorleyParsons Limited
           14.3.14.1 Company Overview
           14.3.14.2 Product Portfolio
           14.3.14.3 Financials
           14.3.14.4 SWOT Analysis

List of Figures

Figure 1: Global: Oil & Gas EPC Market: Major Drivers and Challenges
Figure 2: Global: Oil & Gas EPC Market: Sales Value (in Billion US$), 2016-2021
Figure 3: Global: Oil & Gas EPC Market Forecast: Sales Value (in Billion US$), 2022-2027
Figure 4: Global: Oil & Gas EPC Market: Breakup by Sector (in %), 2021
Figure 5: Global: Oil & Gas EPC Market: Breakup by Service Type (in %), 2021
Figure 6: Global: Oil & Gas EPC Market: Breakup by Location (in %), 2021
Figure 7: Global: Oil & Gas EPC Market: Breakup by Region (in %), 2021
Figure 8: Global: Oil & Gas EPC (Upstream) Market: Sales Value (in Million US$), 2016 & 2021
Figure 9: Global: Oil & Gas EPC (Upstream) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 10: Global: Oil & Gas EPC (Midstream) Market: Sales Value (in Million US$), 2016 & 2021
Figure 11: Global: Oil & Gas EPC (Midstream) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 12: Global: Oil & Gas EPC (Downstream) Market: Sales Value (in Million US$), 2016 & 2021
Figure 13: Global: Oil & Gas EPC (Downstream) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 14: Global: Oil & Gas EPC (Engineering) Market: Sales Value (in Million US$), 2016 & 2021
Figure 15: Global: Oil & Gas EPC (Engineering) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 16: Global: Oil & Gas EPC (Procurement) Market: Sales Value (in Million US$), 2016 & 2021
Figure 17: Global: Oil & Gas EPC (Procurement) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 18: Global: Oil & Gas EPC (Construction) Market: Sales Value (in Million US$), 2016 & 2021
Figure 19: Global: Oil & Gas EPC (Construction) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 20: Global: Oil & Gas EPC (Fabrication) Market: Sales Value (in Million US$), 2016 & 2021
Figure 21: Global: Oil & Gas EPC (Fabrication) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 22: Global: Oil & Gas EPC (Onshore) Market: Sales Value (in Million US$), 2016 & 2021
Figure 23: Global: Oil & Gas EPC (Onshore) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 24: Global: Oil & Gas EPC (Offshore) Market: Sales Value (in Million US$), 2016 & 2021
Figure 25: Global: Oil & Gas EPC (Offshore) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 26: North America: Oil & Gas EPC Market: Sales Value (in Million US$), 2016 & 2021
Figure 27: North America: Oil & Gas EPC Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 28: United States: Oil & Gas EPC Market: Sales Value (in Million US$), 2016 & 2021
Figure 29: United States: Oil & Gas EPC Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 30: Canada: Oil & Gas EPC Market: Sales Value (in Million US$), 2016 & 2021
Figure 31: Canada: Oil & Gas EPC Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 32: Asia-Pacific: Oil & Gas EPC Market: Sales Value (in Million US$), 2016 & 2021
Figure 33: Asia-Pacific: Oil & Gas EPC Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 34: China: Oil & Gas EPC Market: Sales Value (in Million US$), 2016 & 2021
Figure 35: China: Oil & Gas EPC Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 36: Japan: Oil & Gas EPC Market: Sales Value (in Million US$), 2016 & 2021
Figure 37: Japan: Oil & Gas EPC Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 38: India: Oil & Gas EPC Market: Sales Value (in Million US$), 2016 & 2021
Figure 39: India: Oil & Gas EPC Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 40: South Korea: Oil & Gas EPC Market: Sales Value (in Million US$), 2016 & 2021
Figure 41: South Korea: Oil & Gas EPC Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 42: Australia: Oil & Gas EPC Market: Sales Value (in Million US$), 2016 & 2021
Figure 43: Australia: Oil & Gas EPC Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 44: Indonesia: Oil & Gas EPC Market: Sales Value (in Million US$), 2016 & 2021
Figure 45: Indonesia: Oil & Gas EPC Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 46: Others: Oil & Gas EPC Market: Sales Value (in Million US$), 2016 & 2021
Figure 47: Others: Oil & Gas EPC Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 48: Europe: Oil & Gas EPC Market: Sales Value (in Million US$), 2016 & 2021
Figure 49: Europe: Oil & Gas EPC Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 50: Germany: Oil & Gas EPC Market: Sales Value (in Million US$), 2016 & 2021
Figure 51: Germany: Oil & Gas EPC Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 52: France: Oil & Gas EPC Market: Sales Value (in Million US$), 2016 & 2021
Figure 53: France: Oil & Gas EPC Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 54: United Kingdom: Oil & Gas EPC Market: Sales Value (in Million US$), 2016 & 2021
Figure 55: United Kingdom: Oil & Gas EPC Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 56: Italy: Oil & Gas EPC Market: Sales Value (in Million US$), 2016 & 2021
Figure 57: Italy: Oil & Gas EPC Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 58: Spain: Oil & Gas EPC Market: Sales Value (in Million US$), 2016 & 2021
Figure 59: Spain: Oil & Gas EPC Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 60: Russia: Oil & Gas EPC Market: Sales Value (in Million US$), 2016 & 2021
Figure 61: Russia: Oil & Gas EPC Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 62: Others: Oil & Gas EPC Market: Sales Value (in Million US$), 2016 & 2021
Figure 63: Others: Oil & Gas EPC Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 64: Latin America: Oil & Gas EPC Market: Sales Value (in Million US$), 2016 & 2021
Figure 65: Latin America: Oil & Gas EPC Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 66: Brazil: Oil & Gas EPC Market: Sales Value (in Million US$), 2016 & 2021
Figure 67: Brazil: Oil & Gas EPC Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 68: Mexico: Oil & Gas EPC Market: Sales Value (in Million US$), 2016 & 2021
Figure 69: Mexico: Oil & Gas EPC Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 70: Others: Oil & Gas EPC Market: Sales Value (in Million US$), 2016 & 2021
Figure 71: Others: Oil & Gas EPC Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 72: Middle East and Africa: Oil & Gas EPC Market: Sales Value (in Million US$), 2016 & 2021
Figure 73: Middle East and Africa: Oil & Gas EPC Market: Breakup by Country (in %), 2021
Figure 74: Middle East and Africa: Oil & Gas EPC Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 75: Global: Oil & Gas EPC Industry: SWOT Analysis
Figure 76: Global: Oil & Gas EPC Industry: Value Chain Analysis
Figure 77: Global: Oil & Gas EPC Industry: Porter's Five Forces Analysis

List of Tables

Table 1: Global: Oil & Gas EPC Market: Key Industry Highlights, 2021 and 2027
Table 2: Global: Oil & Gas EPC Market Forecast: Breakup by Sector (in Million US$), 2022-2027
Table 3: Global: Oil & Gas EPC Market Forecast: Breakup by Service Type (in Million US$), 2022-2027
Table 4: Global: Oil & Gas EPC Market Forecast: Breakup by Location (in Million US$), 2022-2027
Table 5: Global: Oil & Gas EPC Market Forecast: Breakup by Region (in Million US$), 2022-2027
Table 6: Global: Oil & Gas EPC Market: Competitive Structure
Table 7: Global: Oil & Gas EPC Market: Key Players

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