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Oil and Gas EPC Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

June 2023 | 136 pages | ID: O358F9AAF64EEN
IMARC Group

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The global oil and gas EPC market size reached US$ 47.6 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 65.6 Billion by 2028, exhibiting a growth rate (CAGR) of 5.2% during 2023-2028.

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.

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 report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on sector, service type and location.

Breakup by Sector:

Upstream
Midstream
Downstream

Breakup by Service Type:

Engineering
Procurement
Construction
Fabrication

Breakup by Location:

Onshore
Offshore

Breakup by Region:

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, Tйcnicas Reunidas S. A. and WorleyParsons Limited.

Key Questions Answered in This Report

1. What was the size of the global oil and gas EPC market in 2022?
2. What is the expected growth rate of the global oil and gas EPC market during 2023-2028?
3. What are the key factors driving the global oil and gas EPC market?
4. What has been the impact of COVID-19 on the global oil and gas EPC market?
5. What is the breakup of the global oil and gas EPC market based on the sector?
6. What is the breakup of the global oil and gas EPC market based on the service type?
7. What is the breakup of the global oil and gas EPC market based on location?
8. What are the key regions in the global oil and gas EPC market?
9. Who are the key players/companies in the global oil and gas EPC market?
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 Tйcnicas 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 TABLES

Table 1: Global: Oil & Gas EPC Market: Key Industry Highlights, 2022 and 2028
Table 2: Global: Oil & Gas EPC Market Forecast: Breakup by Sector (in Million US$), 2023-2028
Table 3: Global: Oil & Gas EPC Market Forecast: Breakup by Service Type (in Million US$), 2023-2028
Table 4: Global: Oil & Gas EPC Market Forecast: Breakup by Location (in Million US$), 2023-2028
Table 5: Global: Oil & Gas EPC Market Forecast: Breakup by Region (in Million US$), 2023-2028
Table 6: Global: Oil & Gas EPC Market: Competitive Structure
Table 7: Global: Oil & Gas EPC Market: Key Players


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$), 2017-2022
Figure 3: Global: Oil & Gas EPC Market Forecast: Sales Value (in Billion US$), 2023-2028
Figure 4: Global: Oil & Gas EPC Market: Breakup by Sector (in %), 2022
Figure 5: Global: Oil & Gas EPC Market: Breakup by Service Type (in %), 2022
Figure 6: Global: Oil & Gas EPC Market: Breakup by Location (in %), 2022
Figure 7: Global: Oil & Gas EPC Market: Breakup by Region (in %), 2022
Figure 8: Global: Oil & Gas EPC (Upstream) Market: Sales Value (in Million US$), 2017 & 2022
Figure 9: Global: Oil & Gas EPC (Upstream) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 10: Global: Oil & Gas EPC (Midstream) Market: Sales Value (in Million US$), 2017 & 2022
Figure 11: Global: Oil & Gas EPC (Midstream) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 12: Global: Oil & Gas EPC (Downstream) Market: Sales Value (in Million US$), 2017 & 2022
Figure 13: Global: Oil & Gas EPC (Downstream) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 14: Global: Oil & Gas EPC (Engineering) Market: Sales Value (in Million US$), 2017 & 2022
Figure 15: Global: Oil & Gas EPC (Engineering) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 16: Global: Oil & Gas EPC (Procurement) Market: Sales Value (in Million US$), 2017 & 2022
Figure 17: Global: Oil & Gas EPC (Procurement) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 18: Global: Oil & Gas EPC (Construction) Market: Sales Value (in Million US$), 2017 & 2022
Figure 19: Global: Oil & Gas EPC (Construction) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 20: Global: Oil & Gas EPC (Fabrication) Market: Sales Value (in Million US$), 2017 & 2022
Figure 21: Global: Oil & Gas EPC (Fabrication) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 22: Global: Oil & Gas EPC (Onshore) Market: Sales Value (in Million US$), 2017 & 2022
Figure 23: Global: Oil & Gas EPC (Onshore) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 24: Global: Oil & Gas EPC (Offshore) Market: Sales Value (in Million US$), 2017 & 2022
Figure 25: Global: Oil & Gas EPC (Offshore) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 26: North America: Oil & Gas EPC Market: Sales Value (in Million US$), 2017 & 2022
Figure 27: North America: Oil & Gas EPC Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 28: United States: Oil & Gas EPC Market: Sales Value (in Million US$), 2017 & 2022
Figure 29: United States: Oil & Gas EPC Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 30: Canada: Oil & Gas EPC Market: Sales Value (in Million US$), 2017 & 2022
Figure 31: Canada: Oil & Gas EPC Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 32: Asia-Pacific: Oil & Gas EPC Market: Sales Value (in Million US$), 2017 & 2022
Figure 33: Asia-Pacific: Oil & Gas EPC Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 34: China: Oil & Gas EPC Market: Sales Value (in Million US$), 2017 & 2022
Figure 35: China: Oil & Gas EPC Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 36: Japan: Oil & Gas EPC Market: Sales Value (in Million US$), 2017 & 2022
Figure 37: Japan: Oil & Gas EPC Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 38: India: Oil & Gas EPC Market: Sales Value (in Million US$), 2017 & 2022
Figure 39: India: Oil & Gas EPC Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 40: South Korea: Oil & Gas EPC Market: Sales Value (in Million US$), 2017 & 2022
Figure 41: South Korea: Oil & Gas EPC Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 42: Australia: Oil & Gas EPC Market: Sales Value (in Million US$), 2017 & 2022
Figure 43: Australia: Oil & Gas EPC Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 44: Indonesia: Oil & Gas EPC Market: Sales Value (in Million US$), 2017 & 2022
Figure 45: Indonesia: Oil & Gas EPC Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 46: Others: Oil & Gas EPC Market: Sales Value (in Million US$), 2017 & 2022
Figure 47: Others: Oil & Gas EPC Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 48: Europe: Oil & Gas EPC Market: Sales Value (in Million US$), 2017 & 2022
Figure 49: Europe: Oil & Gas EPC Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 50: Germany: Oil & Gas EPC Market: Sales Value (in Million US$), 2017 & 2022
Figure 51: Germany: Oil & Gas EPC Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 52: France: Oil & Gas EPC Market: Sales Value (in Million US$), 2017 & 2022
Figure 53: France: Oil & Gas EPC Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 54: United Kingdom: Oil & Gas EPC Market: Sales Value (in Million US$), 2017 & 2022
Figure 55: United Kingdom: Oil & Gas EPC Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 56: Italy: Oil & Gas EPC Market: Sales Value (in Million US$), 2017 & 2022
Figure 57: Italy: Oil & Gas EPC Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 58: Spain: Oil & Gas EPC Market: Sales Value (in Million US$), 2017 & 2022
Figure 59: Spain: Oil & Gas EPC Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 60: Russia: Oil & Gas EPC Market: Sales Value (in Million US$), 2017 & 2022
Figure 61: Russia: Oil & Gas EPC Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 62: Others: Oil & Gas EPC Market: Sales Value (in Million US$), 2017 & 2022
Figure 63: Others: Oil & Gas EPC Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 64: Latin America: Oil & Gas EPC Market: Sales Value (in Million US$), 2017 & 2022
Figure 65: Latin America: Oil & Gas EPC Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 66: Brazil: Oil & Gas EPC Market: Sales Value (in Million US$), 2017 & 2022
Figure 67: Brazil: Oil & Gas EPC Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 68: Mexico: Oil & Gas EPC Market: Sales Value (in Million US$), 2017 & 2022
Figure 69: Mexico: Oil & Gas EPC Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 70: Others: Oil & Gas EPC Market: Sales Value (in Million US$), 2017 & 2022
Figure 71: Others: Oil & Gas EPC Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 72: Middle East and Africa: Oil & Gas EPC Market: Sales Value (in Million US$), 2017 & 2022
Figure 73: Middle East and Africa: Oil & Gas EPC Market: Breakup by Country (in %), 2022
Figure 74: Middle East and Africa: Oil & Gas EPC Market Forecast: Sales Value (in Million US$), 2023-2028
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


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