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The Global Oil & Gas EPC market is expected to reach $60.41 billion by 2026 growing at a CAGR of 7.1% during 2019 to 2026. 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. 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 Key Questions Answered in this Report: • How this market evolved since the year 2018 • 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 Market Synopsis
2 Research Outline
2.1 Research Snapshot
2.2 Research Methodology
2.3 Research Sources
2.3.1 Primary Research Sources
2.3.2 Secondary Research Sources
3 Market Dynamics
3.1 Drivers
3.2 Restraints
4 Market Environment
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Oil & Gas EPC Market, By Sector
5.1 Introduction
5.2 Downstream
5.3 Midstream
5.4 Upstream
6 Global Oil & Gas EPC Market, By Service Type
6.1 Introduction
6.2 Engineering
6.3 Combination
6.4 Procurement
6.5 Construction
6.6 Fabrication
7 Global Oil & Gas EPC Market, By Application
7.1 Introduction
7.2 Offshore
7.3 Onshore
8 Global Oil & Gas EPC Market, By End User
8.1 Introduction
8.2 Oil Industry
8.3 Gas Industry
9 Global Oil & Gas EPC Market, By Geography
9.1 Introduction
9.2 North America
9.3 Europe
9.4 Asia Pacific
9.5 South America
9.6 Middle East & Africa
10 Strategic Benchmarking
11 Vendors Landscape
11.1 Jacobs Engineering Group Inc.
11.2 Hyundai Heavy Industries Co. Ltd
11.3 Samsung Engineering Co. Ltd
11.4 John Wood Group PLC
11.5 Bechtel Corporation
11.6 KBR Inc.
11.7 Saipem SpA
11.8 TATA Projects Ltd.
11.9 Larsen & Toubro
11.10 Fluor Corporation
11.11 TechnipFmc Plc
11.12 Hexa Oil & Gas Services LLC
11.13 Petrofac Ltd.
11.14 CNGS Group
11.15 McDermott International, Inc.
11.16 National Petroleum Construction Company
List of Data Tables
1 Global Oil & Gas EPC Market Outlook, By Region (2018-2026) ($MN)
2 Global Oil & Gas EPC Market Outlook, By Sector (2018-2026) ($MN)
3 Global Oil & Gas EPC Market Outlook, By Downstream (2018-2026) ($MN)
4 Global Oil & Gas EPC Market Outlook, By Midstream (2018-2026) ($MN)
5 Global Oil & Gas EPC Market Outlook, By Upstream (2018-2026) ($MN)
6 Global Oil & Gas EPC Market Outlook, By Service Type (2018-2026) ($MN)
7 Global Oil & Gas EPC Market Outlook, By Engineering (2018-2026) ($MN)
8 Global Oil & Gas EPC Market Outlook, By Combination (2018-2026) ($MN)
9 Global Oil & Gas EPC Market Outlook, By Procurement (2018-2026) ($MN)
10 Global Oil & Gas EPC Market Outlook, By Construction (2018-2026) ($MN)
11 Global Oil & Gas EPC Market Outlook, By Fabrication (2018-2026) ($MN)
12 Global Oil & Gas EPC Market Outlook, By Application (2018-2026) ($MN)
13 Global Oil & Gas EPC Market Outlook, By Offshore (2018-2026) ($MN)
14 Global Oil & Gas EPC Market Outlook, By Onshore (2018-2026) ($MN)
15 Global Oil & Gas EPC Market Outlook, By End User (2018-2026) ($MN)
16 Global Oil & Gas EPC Market Outlook, By Oil Industry (2018-2026) ($MN)
17 Global Oil & Gas EPC Market Outlook, By Gas Industry (2018-2026) ($MN)
18 North America Oil & Gas EPC Market Outlook, By Sector (2018-2026) ($MN)
19 North America Oil & Gas EPC Market Outlook, By Service Type (2018-2026) ($MN)
20 North America Oil & Gas EPC Market Outlook, By Application (2018-2026) ($MN)
21 North America Oil & Gas EPC Market Outlook, By End User (2018-2026) ($MN)
22 Europe Oil & Gas EPC Market Outlook, By Sector (2018-2026) ($MN)
23 Europe Oil & Gas EPC Market Outlook, By Service Type (2018-2026) ($MN)
24 Europe Oil & Gas EPC Market Outlook, By Application (2018-2026) ($MN)
25 Europe Oil & Gas EPC Market Outlook, By End User (2018-2026) ($MN)
26 Asia Pacific Oil & Gas EPC Market Outlook, By Sector (2018-2026) ($MN)
27 Asia Pacific Oil & Gas EPC Market Outlook, By Service Type (2018-2026) ($MN)
28 Asia Pacific Oil & Gas EPC Market Outlook, By Application (2018-2026) ($MN)
29 Asia Pacific Oil & Gas EPC Market Outlook, By End User (2018-2026) ($MN)
30 South America Oil & Gas EPC Market Outlook, By Sector (2018-2026) ($MN)
31 South America Oil & Gas EPC Market Outlook, By Service Type (2018-2026) ($MN)
32 South America Oil & Gas EPC Market Outlook, By Application (2018-2026) ($MN)
33 South America Oil & Gas EPC Market Outlook, By End User (2018-2026) ($MN)
34 Middle East & Africa Oil & Gas EPC Market Outlook, By Sector (2018-2026) ($MN)
35 Middle East & Africa Oil & Gas EPC Market Outlook, By Service Type (2018-2026) ($MN)
36 Middle East & Africa Oil & Gas EPC Market Outlook, By Application (2018-2026) ($MN)
37 Middle East & Africa Oil & Gas EPC Market Outlook, By End User (2018-2026) ($MN)