Top 10 Companies in the Global EPC (Engineering, Procurement, and Construction) Market, Driven by Rising Investments Towards Bridge and Road Development Projects

The global EPC (engineering, procurement, and construction) market reached a value of about USD 8.50 trillion in 2023. The market is projected to grow at a CAGR of 3.20% in the forecast period of 2024-2032 to reach around USD 11.22 trillion by 2032. As per the analysis by Expert Market Research, the market is expected to be driven by the rising investments by various governments towards infrastructure development projects.

EPC, short for engineering, procurement, and construction, represents a prevalent contract approach in the construction realm, commonly embraced by both project owners and contractors. Typically employed in large-scale infrastructure projects, particularly in the private sector, EPC contracts encompass the entire project lifecycle, from initial engineering design to procurement of construction materials and final project completion. Within the oil and gas industry, EPC contracts are pivotal, managed by specialised contractors ensuring project completion within stipulated timelines. These contracts entail intricate planning, design, and execution of cutting-edge systems for exploration endeavours, drilling platforms, storage facilities, and natural gas processing plants. Additionally, they contribute to optimising material handling processes, thereby enhancing operational efficiency and cost-effectiveness.

Government investments in bridge and road development projects are driving EPC (engineering, procurement, and construction) market growth. These projects demand specialised engineering expertise due to their intricate designs and necessitate specific machinery and equipment.

The global demand for engineering, procurement, and construction services is on the rise, driven by the growing development of power generating facilities and increasing energy consumption. This trend is expected to continue as energy consumption is projected to increase in the foreseeable future, driving the expansion of energy production facilities. 

In October 2023, NTPC and MSPGCL issued invitations for engineering, procurement, and construction (EPC) bids totalling 900 MW of solar power projects. NTPC Green Energy Ltd tendered 300 MW projects, allowing nationwide locations. Maharashtra State Power Generation Co. Ltd invited bids for 600 MW projects in Maharashtra. EPC packages include land acquisition, design, installation, and maintenance. Both projects are open for solar cell and module usage from any source. MSPGCL's projects include power evacuation systems and three years of maintenance support. The bids were tendered under renewable energy bundling schemes.

Top 10 EPC (Engineering, Procurement, and Construction) Companies in the World:

China State Construction Engineering Corp. Ltd.

Established in 1982, China State Construction Engineering Corporation (CSCEC) is a global investment and construction group, publicly traded as China State Construction Engineering Corporation Ltd. (Stock code: 601668.SH). With over 100 subsidiaries and eight listed companies, CSCEC is China's largest construction and real estate conglomerate, specialising in housing, infrastructure, and international contracting. Renowned for its landmark projects worldwide, CSCEC upholds a reputation for excellence and quality service, making it a leader in China's construction industry and a top international contractor.

Fluor Corporation

Fluor Corporation, a global leader in engineering, procurement, and construction (EPC), collaborates with energy, infrastructure, and technology sectors, delivering innovative solutions since 1912. With headquarters in Irving, Texas, and over 30,000 employees worldwide, Fluor ranks 303 among Fortune 500 companies. Their expertise spans engineering, technology, and construction management, providing safe, capital-efficient projects globally. With a strong HSE record, Fluor designs and executes projects that positively impact clients and communities. Leveraging a global procurement network, Fluor delivers projects on time and within budget, ensuring client satisfaction and progress.

Prokon Engineering and Consulting Inc.

PROKON Engineering and Consulting Inc., a founding member of the PROKON – EKON Group of Companies, was established in Ankara in 1974 by civil engineers Hasan Ozdemir and Ismail Salici. Committed to quality and innovation, PROKON leverages over 50 years of experience to provide engineering, consultancy, and construction services across 20 sectors. Their team of specialised professionals utilises cutting-edge software, including in-house developed tools, to deliver tailored solutions from feasibility to project commissioning, exceeding customer expectations at every stage.

Tekfen Holding A. S.

Tekfen Holding, a publicly traded conglomerate, boasts six decades of expertise across its 39 companies and 9 subsidiaries, employing 14,000 individuals. Established in 1956 by civil engineers Feyyaz Berker, Nihat Gokyigit, and Necati Akcaglilar, it thrives in contracting, agri-industry, and real estate development. Tekfen's journey from a modest laboratory to a billion-dollar enterprise epitomises success. Initially focusing on engineering consultancy, the trio expanded into construction with Tekfen Construction Ltd. in 1957. Their collaboration propelled Tekfen's growth, blending technical acumen with management prowess.

Maire Tecnimont S.p.A.

Tecnimont, part of Maire Tecnimont SpA, traces its engineering heritage to Italy's pioneering days, offering integrated engineering and construction solutions. Specialising in complex plant projects for natural resource transformation, Tecnimont is a global leader. Maire Tecnimont SpA, established in 2005 through Maire Holding's acquisition of Tecnimont, provides engineering, construction, and technology services. Its subsidiary NextChem focuses on green chemistry and energy transition technologies. Operating in approximately 45 countries with around 50 operative companies, Maire Tecnimont Group is a prominent player in the global industrial landscape.

SAIPEM SpA

Saipem, a Milan Stock Exchange-listed leader in energy and infrastructure project engineering, operates globally with over 30,000 employees from 120 nationalities. Organised into five business lines, it focuses on Asset Based Services, Energy Carriers, Offshore Wind, Sustainable Infrastructures, and Robotics and Industrialised Solutions. With 8 fabrication yards and an offshore fleet of 21 construction vessels, Saipem emphasises technological innovation and sustainability. Committed to the energy transition towards Net Zero, it offers digitalised tools and processes aligned with environmental goals, reflecting its vision of "Engineering for a sustainable future."

Swinerton Incorporated

Established in 1888, Swinerton has been a cornerstone of American construction for over 135 years. From its origins in California's post-Gold Rush building era, it has weathered historical challenges, growing into a USD 5 billion enterprise with 21 offices nationwide. With a 100% employee ownership model, Swinerton boasts a diverse workforce of over 4,000 passionate individuals committed to excellence. Renowned for integrity and reliability, Swinerton offers commercial construction and management services across the United States, embodying a legacy of turning client visions into reality.

Samsung Engineering Co. Ltd

Samsung Engineering, a global leader in engineering, procurement, and construction (EPC) services, has shaped the industry for over 40 years. With a portfolio spanning hydrocarbon facilities, power plants, and more, they deliver innovative solutions worldwide. Their commitment to excellence is evident in over 1,000 successful projects across diverse sectors. As they look ahead, Samsung Engineering aims to lead the advanced EPC market, offering comprehensive services from project development to operation and maintenance. With a focus on sustainability and innovation, they strive to enhance customer value and contribute to global progress.

Larsen & Toubro Limited

Larsen & Toubro Limited, headquartered in Mumbai, is a renowned Indian multinational excelling in EPC projects, hi-tech manufacturing, and services. With a rich legacy spanning over 80 years, L&T stands out for its customer-centric approach and unwavering commitment to excellence. Operating in over 50 countries, L&T leads in various sectors, including engineering, construction, and manufacturing. Their emphasis on sustainability, demonstrated through integrated reporting, underscores their dedication to stakeholders. With a global footprint and robust manufacturing capabilities, L&T continues to drive growth and maintain high standards of corporate governance.

TechnipFMC plc

TechnipFMC, a global leader in traditional and renewable energy, provides innovative technologies and services to meet energy demands. With 21,000 employees worldwide, the company delivers integrated projects and solutions for resource extraction on land and at sea. TechnipFMC's two business units, Subsea and Surface Technologies, drive innovation and efficiency. Leveraging digital solutions, they streamline projects and reduce carbon footprint. Embracing the energy transition, their strategy focuses on greenhouse gas removal, offshore renewables, and hydrogen. With a commitment to client success and industry innovation, TechnipFMC shapes the future of energy.