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Oil and Gas EPC Market

Global Oil and Gas EPC Market Size, Trends, Report: By Sector: Upstream, Midstream, Downstream; By Engineering, Procurement, Construction, Fabrication; By Location: Onshore, Offshore; Regional Analysis; Market Dynamics: SWOT Analysis, Porter’s Five Forces Analysis, Key Indicators for Demand; Competitive Landscape; 2024-2032

Global Oil and Gas EPC Market Outlook

The global oil and gas EPC industry is expected to grow at a CAGR of about 5% in the forecast period of 2024-2032.

 

Global Oil and Gas EPC Market

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North America Leading the Oil and Gas EPC Market

North America is one of the leading regional markets with a growing number of oil and gas ventures in both the United States and Canada. The region is likely to see robust growth in the coming years. The United States is among the leading producers of crude oil and natural gas. The United States has one of the biggest, technically recoverable reserves of shale gas, and the second largest tight oil reserves in the world. Technological advances in hydraulic fracturing and low breakeven prices have supported upstream oil and gas operations in the onshore area, leading to robust demand for EPC key players.

 

Oil and Gas EPC: Market Segmentation

EPC (Engineering, Procurement and Construction) is a contract-based model for the execution of projects. Oil and gas companies also rely on EPC contractors for large-scale and long-term projects requiring professional labour and fine-tuned project management.

 

Global Oil and Gas EPC Market By Service

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Based on sector, the industry can be divided as follows:

  • Upstream
  • Midstream
  • Downstream

On the basis of service, the market can be segmented into the following:

  • Engineering
  • Procurement
  • Construction
  • Fabrication

Based on location, the market can be divided as follows:

  • Onshore
  • Offshore

The regional markets for oil and gas EPC can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

 

Global Oil and Gas EPC Market By Region

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Rising Energy Consumption Bolstering the Market Growth

Energy consumption is constantly rising due to the growing population and per capita power consumption. While there is a growing trend in the generation of electricity from renewable sources, the production of oil and gas is dominant in the production of energy. The growth of the industry is majorly being driven by the rising automobile industry. The growing number of cars has a positive effect on the consumption of petroleum products such as petrol, diesel, and CNG. Technological advances and the increased feasibility of deep water and ultra-deep-water projects are expected to fuel market growth. Increased per capita incomes in developed countries and a rising population are the main drivers of demand growth.

 

Key Industry Players in the Global Oil and Gas EPC Market

The report gives a detailed analysis of the following key players in the global oil and gas EPC market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

  • Saipem SpA
  • TechnipFMC PLC
  • John Wood Group PLC
  • Bechtel Corporation
  • Fluor Corporation
  • Petrofac Limited
  • Others

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.

 

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:

  • Sector
  • Service
  • Location
  • Region
Breakup by Sector
  • Upstream
  • Midstream
  • Downstream
Breakup by Service
  • Engineering
  • Procurement 
  • Construction
  • Fabrication
Breakup by Location
  • Onshore
  • Offshore
Breakup by Region
  • North America
    • United States of America 
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Italy
    • Others
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Australia
    • Others
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • United Arab Emirates
    • Nigeria
    • South Africa
    • Others
Market Dynamics
  • SWOT Analysis
  • Porter's Five Forces Analysis
  • Key Indicators for Demand
  • Key Indicators for Price
Competitive Landscape
  • Market Structure
  • Company Profiles
    • Company Overview
    • Product Portfolio
    • Demographic Reach and Achievements
    • Certifications
Companies Covered
  • Saipem SpA
  • TechnipFMC PLC
  • John Wood Group PLC
  • Bechtel Corporation
  • Fluor Corporation
  • Petrofac Limited
  • Others
Report Price and Purchase Option Explore our purchase options that are best suited to your resources and industry needs.
Delivery Format Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option.

 

*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    Snapshot
    6.1    Global
    6.2    Regional
7    Opportunities and Challenges in the Market
8    Global Oil and Gas EPC Market Analysis

    8.1    Key Industry Highlights
    8.2    Global Oil and Gas EPC Historical Market (2018-2023) 
    8.3    Global Oil and Gas EPC Market Forecast (2024-2032)
    8.4    Global Oil and Gas EPC Market by Sector
        8.4.1    Upstream
            8.4.1.1    Historical Trend (2018-2023)
            8.4.1.2    Forecast Trend (2024-2032)
        8.4.2    Midstream
            8.4.2.1    Historical Trend (2018-2023)
            8.4.2.2    Forecast Trend (2024-2032)
        8.4.3    Downstream
            8.4.3.1    Historical Trend (2018-2023)
            8.4.3.2    Forecast Trend (2024-2032)
    8.5    Global Oil and Gas EPC Market by Service
        8.5.1    Engineering
            8.5.1.1    Historical Trend (2018-2023)
            8.5.1.2    Forecast Trend (2024-2032)
        8.5.2    Procurement
            8.5.2.1    Historical Trend (2018-2023)
            8.5.2.2    Forecast Trend (2024-2032)
        8.5.3    Construction
            8.5.3.1    Historical Trend (2018-2023)
            8.5.3.2    Forecast Trend (2024-2032)
        8.5.4    Fabrication
            8.5.4.1    Historical Trend (2018-2023)
            8.5.4.2    Forecast Trend (2024-2032)
    8.6    Global Oil and Gas EPC Market by Location
        8.6.1    Onshore
            8.6.1.1    Historical Trend (2018-2023)
            8.6.1.2    Forecast Trend (2024-2032)
        8.6.2    Offshore
            8.6.2.1    Historical Trend (2018-2023)
            8.6.2.2    Forecast Trend (2024-2032)    
    8.7    Global Oil and Gas EPC Market by Region
        8.7.1    North America
            8.7.1.1    Historical Trend (2018-2023) 
            8.7.1.2    Forecast Trend (2024-2032)
        8.7.2    Europe
            8.7.2.1    Historical Trend (2018-2023) 
            8.7.2.2    Forecast Trend (2024-2032)
        8.7.3    Asia Pacific
            8.7.3.1    Historical Trend (2018-2023) 
            8.7.3.2    Forecast Trend (2024-2032)
        8.7.4    Latin America
            8.7.4.1    Historical Trend (2018-2023) 
            8.7.4.2    Forecast Trend (2024-2032)
        8.7.5    Middle East and Africa
            8.7.5.1    Historical Trend (2018-2023) 
            8.7.5.2    Forecast Trend (2024-2032)
9    North America Oil and Gas EPC Market Analysis
    9.1    United States of America 
        9.1.1    Historical Trend (2018-2023) 
        9.1.2    Forecast Trend (2024-2032)
    9.2    Canada
        9.2.1    Historical Trend (2018-2023) 
        9.2.2    Forecast Trend (2024-2032)
10    Europe Oil and Gas EPC Market Analysis
    10.1    United Kingdom
        10.1.1    Historical Trend (2018-2023) 
        10.1.2    Forecast Trend (2024-2032)
    10.2    Germany
        10.2.1    Historical Trend (2018-2023) 
        10.2.2    Forecast Trend (2024-2032)
    10.3    France
        10.3.1    Historical Trend (2018-2023) 
        10.3.2    Forecast Trend (2024-2032)
    10.4    Italy
        10.4.1    Historical Trend (2018-2023) 
        10.4.2    Forecast Trend (2024-2032)
    10.5    Others
11    Asia Pacific Oil and Gas EPC Market Analysis
    11.1    China
        11.1.1    Historical Trend (2018-2023) 
        11.1.2    Forecast Trend (2024-2032)
    11.2    Japan
        11.2.1    Historical Trend (2018-2023) 
        11.2.2    Forecast Trend (2024-2032)
    11.3    India
        11.3.1    Historical Trend (2018-2023) 
        11.3.2    Forecast Trend (2024-2032)
    11.4    ASEAN
        11.4.1    Historical Trend (2018-2023) 
        11.4.2    Forecast Trend (2024-2032)
    11.5    Australia
        11.5.1    Historical Trend (2018-2023) 
        11.5.2    Forecast Trend (2024-2032)
    11.6    Others
12    Latin America Oil and Gas EPC Market Analysis
    12.1    Brazil
        12.1.1    Historical Trend (2018-2023) 
        12.1.2    Forecast Trend (2024-2032)
    12.2    Argentina
        12.2.1    Historical Trend (2018-2023) 
        12.2.2    Forecast Trend (2024-2032)
    12.3    Mexico
        12.3.1    Historical Trend (2018-2023) 
        12.3.2    Forecast Trend (2024-2032)
    12.4    Others
13    Middle East and Africa Oil and Gas EPC Market Analysis
    13.1    Saudi Arabia
        13.1.1    Historical Trend (2018-2023) 
        13.1.2    Forecast Trend (2024-2032)
    13.2    United Arab Emirates
        13.2.1    Historical Trend (2018-2023) 
        13.2.2    Forecast Trend (2024-2032)
    13.3    Nigeria
        13.3.1    Historical Trend (2018-2023) 
        13.3.2    Forecast Trend (2024-2032)
    13.4    South Africa
        13.4.1    Historical Trend (2018-2023) 
        13.4.2    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    Value Chain Analysis
16    Competitive Landscape

    16.1    Market Structure
    16.2    Company Profiles
        16.2.1    Saipem SpA
            16.2.1.1    Company Overview
            16.2.1.2    Product Portfolio
            16.2.1.3    Demographic Reach and Achievements
            16.2.1.4    Certifications
        16.2.2    TechnipFMC PLC
            16.2.2.1    Company Overview
            16.2.2.2    Product Portfolio
            16.2.2.3    Demographic Reach and Achievements
            16.2.2.4    Certifications
        16.2.3    John Wood Group PLC
            16.2.3.1    Company Overview
            16.2.3.2    Product Portfolio
            16.2.3.3    Demographic Reach and Achievements
            16.2.3.4    Certifications
        16.2.4    Bechtel Corporation
            16.2.4.1    Company Overview
            16.2.4.2    Product Portfolio
            16.2.4.3    Demographic Reach and Achievements
            16.2.4.4    Certifications
        16.2.5    Fluor Corporation
            16.2.5.1    Company Overview
            16.2.5.2    Product Portfolio
            16.2.5.3    Demographic Reach and Achievements
            16.2.5.4    Certifications
        16.2.6    Petrofac Limited
            16.2.6.1    Company Overview
            16.2.6.2    Product Portfolio
            16.2.6.3    Demographic Reach and Achievements
            16.2.6.4    Certifications
        16.2.7     Others
17    Key Trends and Developments in the Market


List of Key Figures and Tables

1.    Global Oil and Gas EPC Market: Key Industry Highlights, 2018 and 2032
2.    Global Oil and Gas EPC Historical Market: Breakup by Sector (USD Billion), 2018-2023
3.    Global Oil and Gas EPC Market Forecast: Breakup by Sector (USD Billion), 2024-2032
4.    Global Oil and Gas EPC Historical Market: Breakup by Service (USD Billion), 2018-2023
5.    Global Oil and Gas EPC Market Forecast: Breakup by Service (USD Billion), 2024-2032
6.    Global Oil and Gas EPC Historical Market: Breakup by Location (USD Billion), 2018-2023
7.    Global Oil and Gas EPC Market Forecast: Breakup by Location (USD Billion), 2024-2032
8.    Global Oil and Gas EPC Historical Market: Breakup by Region (USD Billion), 2018-2023
9.    Global Oil and Gas EPC Market Forecast: Breakup by Region (USD Billion), 2024-2032
10.    North America Oil and Gas EPC Historical Market: Breakup by Country (USD Billion), 2018-2023
11.    North America Oil and Gas EPC Market Forecast: Breakup by Country (USD Billion), 2024-2032
12.    Europe Oil and Gas EPC Historical Market: Breakup by Country (USD Billion), 2018-2023
13.    Europe Oil and Gas EPC Market Forecast: Breakup by Country (USD Billion), 2024-2032
14.    Asia Pacific Oil and Gas EPC Historical Market: Breakup by Country (USD Billion), 2018-2023
15.    Asia Pacific Oil and Gas EPC Market Forecast: Breakup by Country (USD Billion), 2024-2032
16.    Latin America Oil and Gas EPC Historical Market: Breakup by Country (USD Billion), 2018-2023
17.    Latin America Oil and Gas EPC Market Forecast: Breakup by Country (USD Billion), 2024-2032
18.    Middle East and Africa Oil and Gas EPC Historical Market: Breakup by Country (USD Billion), 2018-2023
19.    Middle East and Africa Oil and Gas EPC Market Forecast: Breakup by Country (USD Billion), 2024-2032
20.    Global Oil and Gas EPC Market Structure

Key Questions Answered in the Report

The market is projected to grow at a CAGR of 5% between 2024 and 2032.

The major drivers of the market are the increasing oil and gas exploration activities, advancements in hydraulic fracturing technology, and the expansion of the automotive sector.

The increasing energy consumption, the rising production of oil and gas, the surging feasibility of deep water and ultra-deep-water projects are the key trends guiding the market growth.

The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.

The significant sectors considered in the market report include upstream, midstream, and downstream.

The major segments based on services considered in the market report are engineering, procurement, construction, and fabrication. 

The various segments on the basis of location considered in the market report are onshore and offshore.

The major players in the market are Saipem SpA, TechnipFMC PLC, John Wood Group PLC, Bechtel Corporation, Fluor Corporation, and Petrofac Limited, among others.

Analyst Review

The global oil and gas EPC market, driven by the rising automobile industry and increased per capita incomes in developed countries and a rising population. Aided by the technological advances and the increased feasibility of deep water and ultra-deep-water projects. the market is expected to witness a further growth in the forecast period of 2024-2032, growing at a CAGR of 5%.

EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. The significant sectors of the industry include upstream, midstream, and downstream. The major services of the industry include engineering, procurement, construction, and fabrication. The leading location types of oil and gas EPC are onshore and offshore. The major regional markets for oil and gas EPC are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa, with North America accounting for the largest share of the market. The key players in the above market include Saipem SpA, TechnipFMC PLC, John Wood Group PLC, Bechtel Corporation, Fluor Corporation and Petrofac Limited, among others.

EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.

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