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Global EPC (Engineering, Procurement, and Construction) Market Analysis: By Type: Engineering, Procurement, Construction, Design, Others; By Application: Chemicals, Power, Oil and Gas, Industrial, IT and Telecom, Roads, Railways, and Bridges, Others; By Marketing Channel; Regional Analysis; Competitive Landscape; 2024-2032
Global EPC (Engineering, Procurement, and Construction) Market Outlook
The global EPC (engineering, procurement, and construction) market size reached a value of approximately USD 8.24 trillion in 2023. The market is further expected to grow at a CAGR of 3.20% between 2024 and 2032, reaching a value of USD 9.89 trillion by 2032.
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Key Trends in the Market
EPC refers to engineering, procurement, and construction, and are a popular contract type in the construction industry that is agreed upon between project owners and contractors. EPC contracts are typically undertaken on large and complex infrastructural projects by the private sector. Such projects are generally initiated by designing an engineering plan, procuring the necessary construction material, and ending with completion of the construction.
- The key trends contributing towards the growth of the EPC (engineering, procurement, and construction) market include rising investments by various governments towards bridge and road development projects. Construction of bridges and roads require significant expertise in engineering as their designs are complex as well as require specific machinery and equipment.
- Increasing development of power generating facilities along with rising energy consumption has fuelled the demand for engineering, procurement, and construction services across the globe. The anticipated increase in the consumption of energy over the forecast period is expected to result in expansion of energy production facilities.
- Various governments prefer hiring EPC contractors so as to execute and finish projects requiring advanced skills and knowledge, and specific equipment and machinery in a cost-efficient manner. This in turn is expected to propel the growth of the EPC (engineering, procurement, and construction) market across the globe in the upcoming years.
Market Analysis
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On the basis of type, the market is segmented into engineering, procurement, construction, and design, among others. Based on application, the market is divided into chemicals, power, oil and gas, industrial, IT and telecom, roads, railways, and bridges, airports and ports, and building construction, among others. By marketing channel, the market is bifurcated into offline channel and online channel. On the basis of region, the market is classified into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global EPC (engineering, procurement, and construction) market, covering their competitive landscape and latest developments like mergers, acquisitions, investments, and expansion plans.
- China State Construction Engineering Corporation Ltd.
- Fluor Corporation
- Prokon Engineering and Consulting Inc.
- Tekfen Holding A.Åž.
- Maire Tecnimont S.p.A.
- SAIPEM SpA
- Swinerton Incorporated
- Samsung Engineering Co. Ltd
- Larsen & Toubro Limited
- TechnipFMC plc
- Wood plc
- GS Engineering & Construction Corporation
- Others
Market Share by Application
On the basis of application, oil and gas are expected to account for a significant portion of the EPC (engineering, procurement, and construction) market due to the growing demand for oil and gas from industries including aviation, automotive, and manufacturing, among others. Rapidly growing population has significantly contributed towards the growing demand for basic daily essentials, thus resulting in increased investments in energy sources that are reliable and capable of operating continuously. A major portion of oil and gas is used for generation of electricity so as to meet the rising energy demands. Socio-economic developments coupled with expanding global transportation sector is further expected to contribute towards the growth of the oil and gas applications of the EPC (engineering, procurement, and construction) market.
Market Share by Region
Based on region, North America is expected to witness exponential growth over the forecast period. Increasing initiatives by various governments in the North America region to enhance the infrastructure of the countries is anticipated to positively impact the growth of the EPC (engineering, procurement, and construction) market in the region.
Meanwhile, in the Asia Pacific, rapid urbanisation and rising electrical demands by the emerging economies in the region are further expected to aid the growth of the market. Increasing infrastructural developments in the Asia Pacific are rising the demand for engineering, procurement, and construction services in the region due to accuracy and precision offered by these services.
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Competitive Landscape
China State Construction Engineering Corporation Ltd. founded in 1957 and headquartered in Beijing, China, is one of the largest construction companies in the world. A leading contractor for overseas construction, China State Construction Engineering Corporation is majorly involved in project development, construction, planning and design, facilities management, trade, and equipment leasing, among others.
Fluor Corporation is a multinational construction and engineering firm that was founded in 1912 and is headquartered in Texas, United States. They provide services through their subsidiaries in areas such as infrastructure, oil and gas, and power. It is one of the largest publicly traded construction and engineering companies across the globe.
Tekfen Holding A.Åž. is an engineering and construction company, based in Istanbul, Turkey that was established in 1971. Apart from engineering and construction, they are heavily involved in food processing and textile, among other industrial sectors. Turnkey-delivery EPC solutions are offered by the company under its brand ‘Tekfen Engineering and Contracting Group’.
Other market players include Prokon Engineering and Consulting Inc., Maire Tecnimont S.p.A., SAIPEM SpA, Swinerton Incorporated, Samsung Engineering Co. Ltd, Larsen & Toubro Limited, TechnipFMC plc, Wood plc, and GS Engineering & Construction Corporation, among others.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Type |
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| Breakup by Application |
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| Breakup by Marketing Channel |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global EPC (Engineering, Procurement, and Construction) Market Analysis
8.1 Key Industry Highlights
8.2 Global EPC (Engineering, Procurement, and Construction) Historical Market (2018-2023)
8.3 Global EPC (Engineering, Procurement, and Construction) Market Forecast (2024-2032)
8.4 Global EPC (Engineering, Procurement, and Construction) Market by Type
8.4.1 Engineering
8.4.1.1 Market Share
8.4.1.2 Historical Trend (2018-2023)
8.4.1.3 Forecast Trend (2024-2032)
8.4.2 Procurement
8.4.2.1 Market Share
8.4.2.2 Historical Trend (2018-2023)
8.4.2.3 Forecast Trend (2024-2032)
8.4.3 Construction
8.4.3.1 Market Share
8.4.3.2 Historical Trend (2018-2023)
8.4.3.3 Forecast Trend (2024-2032)
8.4.4 Design
8.4.4.1 Market Share
8.4.4.2 Historical Trend (2018-2023)
8.4.4.3 Forecast Trend (2024-2032)
8.4.5 Others
8.5 Global EPC (Engineering, Procurement, and Construction) Market by Application
8.5.1 Chemicals
8.5.1.1 Market Share
8.5.1.2 Historical Trend (2018-2023)
8.5.1.3 Forecast Trend (2024-2032)
8.5.2 Power
8.5.2.1 Market Share
8.5.2.2 Historical Trend (2018-2023)
8.5.2.3 Forecast Trend (2024-2032)
8.5.3 Oil and Gas
8.5.3.1 Market Share
8.5.3.2 Historical Trend (2018-2023)
8.5.3.3 Forecast Trend (2024-2032)
8.5.4 Industrial
8.5.4.1 Market Share
8.5.4.2 Historical Trend (2018-2023)
8.5.4.3 Forecast Trend (2024-2032)
8.5.5 IT and Telecom
8.5.5.1 Market Share
8.5.5.2 Historical Trend (2018-2023)
8.5.5.3 Forecast Trend (2024-2032)
8.5.6 Roads, Railways, and Bridges
8.5.6.1 Market Share
8.5.6.2 Historical Trend (2018-2023)
8.5.6.3 Forecast Trend (2024-2032)
8.5.7 Airports and Ports
8.5.7.1 Market Share
8.5.7.2 Historical Trend (2018-2023)
8.5.7.3 Forecast Trend (2024-2032)
8.5.8 Building Construction
8.5.8.1 Market Share
8.5.8.2 Historical Trend (2018-2023)
8.5.8.3 Forecast Trend (2024-2032)
8.5.9 Others
8.6 Global EPC (Engineering, Procurement, and Construction) Market by Marketing Channel
8.6.1 Offline Channel
8.6.1.1 Market Share
8.6.1.2 Historical Trend (2018-2023)
8.6.1.3 Forecast Trend (2024-2032)
8.6.2 Online Channel
8.6.2.1 Market Share
8.6.2.2 Historical Trend (2018-2023)
8.6.2.3 Forecast Trend (2024-2032)
8.7 Global EPC (Engineering, Procurement, and Construction) Market by Region
8.7.1 North America
8.7.1.1 Market Share
8.7.1.2 Historical Trend (2018-2023)
8.7.1.3 Forecast Trend (2024-2032)
8.7.2 Europe
8.7.2.1 Market Share
8.7.2.2 Historical Trend (2018-2023)
8.7.2.3 Forecast Trend (2024-2032)
8.7.3 Asia Pacific
8.7.3.1 Market Share
8.7.3.2 Historical Trend (2018-2023)
8.7.3.3 Forecast Trend (2024-2032)
8.7.4 Latin America
8.7.4.1 Market Share
8.7.4.2 Historical Trend (2018-2023)
8.7.4.3 Forecast Trend (2024-2032)
8.7.5 Middle East and Africa
8.7.5.1 Market Share
8.7.5.2 Historical Trend (2018-2023)
8.7.5.3 Forecast Trend (2024-2032)
9 North America EPC (Engineering, Procurement, and Construction) Market Analysis
9.1 United States of America
9.1.1 Market Share
9.1.2 Historical Trend (2018-2023)
9.1.3 Forecast Trend (2024-2032)
9.2 Canada
9.2.1 Market Share
9.2.2 Historical Trend (2018-2023)
9.2.3 Forecast Trend (2024-2032)
10 Europe EPC (Engineering, Procurement, and Construction) Market Analysis
10.1 United Kingdom
10.1.1 Market Share
10.1.2 Historical Trend (2018-2023)
10.1.3 Forecast Trend (2024-2032)
10.2 Germany
10.2.1 Market Share
10.2.2 Historical Trend (2018-2023)
10.2.3 Forecast Trend (2024-2032)
10.3 France
10.3.1 Market Share
10.3.2 Historical Trend (2018-2023)
10.3.3 Forecast Trend (2024-2032)
10.4 Italy
10.4.1 Market Share
10.4.2 Historical Trend (2018-2023)
10.4.3 Forecast Trend (2024-2032)
10.5 Others
11 Asia Pacific EPC (Engineering, Procurement, and Construction) Market Analysis
11.1 China
11.1.1 Market Share
11.1.2 Historical Trend (2018-2023)
11.1.3 Forecast Trend (2024-2032)
11.2 Japan
11.2.1 Market Share
11.2.2 Historical Trend (2018-2023)
11.2.3 Forecast Trend (2024-2032)
11.3 India
11.3.1 Market Share
11.3.2 Historical Trend (2018-2023)
11.3.3 Forecast Trend (2024-2032)
11.4 ASEAN
11.4.1 Market Share
11.4.2 Historical Trend (2018-2023)
11.4.3 Forecast Trend (2024-2032)
11.5 Australia
11.5.1 Market Share
11.5.2 Historical Trend (2018-2023)
11.5.3 Forecast Trend (2024-2032)
11.6 Others
12 Latin America EPC (Engineering, Procurement, and Construction) Market Analysis
12.1 Brazil
12.1.1 Market Share
12.1.2 Historical Trend (2018-2023)
12.1.3 Forecast Trend (2024-2032)
12.2 Argentina
12.2.1 Market Share
12.2.2 Historical Trend (2018-2023)
12.2.3 Forecast Trend (2024-2032)
12.3 Mexico
12.3.1 Market Share
12.3.2 Historical Trend (2018-2023)
12.3.3 Forecast Trend (2024-2032)
12.4 Others
13 Middle East and Africa EPC (Engineering, Procurement, and Construction) Market Analysis
13.1 Saudi Arabia
13.1.1 Market Share
13.1.2 Historical Trend (2018-2023)
13.1.3 Forecast Trend (2024-2032)
13.2 United Arab Emirates
13.2.1 Market Share
13.2.2 Historical Trend (2018-2023)
13.2.3 Forecast Trend (2024-2032)
13.3 Nigeria
13.3.1 Market Share
13.3.2 Historical Trend (2018-2023)
13.3.3 Forecast Trend (2024-2032)
13.4 South Africa
13.4.1 Market Share
13.4.2 Historical Trend (2018-2023)
13.4.3 Forecast Trend (2024-2032)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Competitive Landscape
15.1 Market Structure
15.2 Company Profiles
15.2.1 China State Construction Engineering Corporation Ltd.
15.2.1.1 Company Overview
15.2.1.2 Product Portfolio
15.2.1.3 Demographic Reach and Achievements
15.2.1.4 Certifications
15.2.2 Fluor Corporation
15.2.2.1 Company Overview
15.2.2.2 Product Portfolio
15.2.2.3 Demographic Reach and Achievements
15.2.2.4 Certifications
15.2.3 Prokon Engineering and Consulting Inc.
15.2.3.1 Company Overview
15.2.3.2 Product Portfolio
15.2.3.3 Demographic Reach and Achievements
15.2.3.4 Certifications
15.2.4 Tekfen Holding A.Ş.
15.2.4.1 Company Overview
15.2.4.2 Product Portfolio
15.2.4.3 Demographic Reach and Achievements
15.2.4.4 Certifications
15.2.5 Maire Tecnimont S.p.A.
15.2.5.1 Company Overview
15.2.5.2 Product Portfolio
15.2.5.3 Demographic Reach and Achievements
15.2.5.4 Certifications
15.2.6 SAIPEM SpA
15.2.6.1 Company Overview
15.2.6.2 Product Portfolio
15.2.6.3 Demographic Reach and Achievements
15.2.6.4 Certifications
15.2.7 Swinerton Incorporated
15.2.7.1 Company Overview
15.2.7.2 Product Portfolio
15.2.7.3 Demographic Reach and Achievements
15.2.7.4 Certifications
15.2.8 Samsung Engineering Co. Ltd
15.2.8.1 Company Overview
15.2.8.2 Product Portfolio
15.2.8.3 Demographic Reach and Achievements
15.2.8.4 Certifications
15.2.9 Larsen & Toubro Limited
15.2.9.1 Company Overview
15.2.9.2 Product Portfolio
15.2.9.3 Demographic Reach and Achievements
15.2.9.4 Certifications
15.2.10 TechnipFMC plc
15.2.10.1 Company Overview
15.2.10.2 Product Portfolio
15.2.10.3 Demographic Reach and Achievements
15.2.10.4 Certifications
15.2.11 Wood plc
15.2.11.1 Company Overview
15.2.11.2 Product Portfolio
15.2.11.3 Demographic Reach and Achievements
15.2.11.4 Certifications
15.2.12 GS Engineering & Construction Corporation
15.2.12.1 Company Overview
15.2.12.2 Product Portfolio
15.2.12.3 Demographic Reach and Achievements
15.2.12.4 Certifications
15.2.13 Others
16 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global EPC (Engineering, Procurement, and Construction) Market: Key Industry Highlights, 2018 and 2032
2. Global EPC (Engineering, Procurement, and Construction) Historical Market: Breakup by Type (USD Million), 2018-2023
3. Global EPC (Engineering, Procurement, and Construction) Market Forecast: Breakup by Type (USD Million), 2024-2032
4. Global EPC (Engineering, Procurement, and Construction) Historical Market: Breakup by Application (USD Million), 2018-2023
5. Global EPC (Engineering, Procurement, and Construction) Market Forecast: Breakup by Application (USD Million), 2024-2032
6. Global EPC (Engineering, Procurement, and Construction) Historical Market: Breakup by Marketing Channel (USD Million), 2018-2023
7. Global EPC (Engineering, Procurement, and Construction) Market Forecast: Breakup by Marketing Channel (USD Million), 2024-2032
8. Global EPC (Engineering, Procurement, and Construction) Historical Market: Breakup by Region (USD Million), 2018-2023
9. Global EPC (Engineering, Procurement, and Construction) Market Forecast: Breakup by Region (USD Million), 2024-2032
10. North America EPC (Engineering, Procurement, and Construction) Historical Market: Breakup by Country (USD Million), 2018-2023
11. North America EPC (Engineering, Procurement, and Construction) Market Forecast: Breakup by Country (USD Million), 2024-2032
12. Europe EPC (Engineering, Procurement, and Construction) Historical Market: Breakup by Country (USD Million), 2018-2023
13. Europe EPC (Engineering, Procurement, and Construction) Market Forecast: Breakup by Country (USD Million), 2024-2032
14. Asia Pacific EPC (Engineering, Procurement, and Construction) Historical Market: Breakup by Country (USD Million), 2018-2023
15. Asia Pacific EPC (Engineering, Procurement, and Construction) Market Forecast: Breakup by Country (USD Million), 2024-2032
16. Latin America EPC (Engineering, Procurement, and Construction) Historical Market: Breakup by Country (USD Million), 2018-2023
17. Latin America EPC (Engineering, Procurement, and Construction) Market Forecast: Breakup by Country (USD Million), 2024-2032
18. Middle East and Africa EPC (Engineering, Procurement, and Construction) Historical Market: Breakup by Country (USD Million), 2018-2023
19. Middle East and Africa EPC (Engineering, Procurement, and Construction) Market Forecast: Breakup by Country (USD Million), 2024-2032
20. Global EPC (Engineering, Procurement, and Construction) Market Structure
Key Questions Answered in the Report
The market size for EPC reached a value of approximately USD 8.24 trillion in 2023.
The market for EPC is expected to grow at a CAGR of 3.20% between 2024 and 2032.
The market for EPC is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach USD 9.89 trillion by 2032.
The major market drivers include increasing focus on infrastructure development and integration of advanced technology in various domains of the market.
The key trends fuelling the growth of the market include increasing involvement of private sector in the construction industry, rising popularity of individualised EPC services, and international outsourcing of EPC services.
The various types of EPC in the market are engineering, procurement, construction, and design, among others.
The applications of EPC include chemicals, power, oil and gas, industrial, IT and telecom, roads, railways, and bridges, airports and ports, and building construction, among others.
The significant marketing channels for EPC are offline channels and online channels.
EPC companies offer all the necessary resources required for engineering, procurement, construction, and design of various construction and building projects on a contract basis.
The key players in the global EPC (engineering, procurement, and construction) market, according to the report are China State Construction Engineering Corporation Ltd., Fluor Corporation, Prokon Engineering and Consulting Inc., Tekfen Holding A.S., Maire Tecnimont S.p.A., SAIPEM SpA, Swinerton Incorporated, Samsung Engineering Co. Ltd, Larsen & Toubro Limited, TechnipFMC plc, Wood plc, and GS Engineering & Construction Corporation, among others.
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