Jun 26, 2020   SOURCE: BusinessWire

Global Oil & Gas EPC Market Outlook (2019 to 2027) - Featuring Petrofac, Saipem & Samsung Engineering Among Others - ResearchAndMarkets.com

The "Oil & Gas EPC - Global Market Outlook (2019-2027)" report has been added to ResearchAndMarkets.com's offering.

The Global Oil & Gas EPC market accounted for $43.66 billion in 2019 and is expected to reach $75.01 billion by 2027 growing at a CAGR of 7.0% during the forecast period.

Increasing per capita income in developing countries and growing population are the major factors propelling market growth. However, factors such as retention problems and the presence of alternatives are hampering market growth.

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. In the oil and gas industry, the (EPC) is 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.

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.

By geography, North America is going to have a lucrative growth during the forecast period due to the increasing number of oil & gas projects in countries such as the United States, Canada, and Mexico. The United States has one of the largest, technically-recoverable shale gas reserves and the second-largest tight oil reserves in the world. The aforementioned factors are contributing to the rising demand for oil & gas EPC services in the region during the forecast period.

Companies Mentioned

  • Bechtel Corporation
  • Daewoo Engineering & Construction Co. Ltd
  • Fluor Corporation
  • Hyundai Heavy Industries Co. Ltd
  • Jacobs Engineering Group Inc.
  • John Wood Group PLC
  • McDermott International Inc
  • National Petroleum Construction Company
  • Petrofac Limited
  • Saipem SpA
  • Samsung Engineering Co. Ltd
  • TechnipFmc PLC

What the report offers:

  • Market share assessments for the regional and country-level segments
  • Strategic recommendations for the new entrants
  • Covers Market data for the years 2018, 2019 2020, 2024, and 2027
  • Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
  • Strategic recommendations in key business segments based on the market estimations
  • Competitive landscaping mapping the key common trends
  • Company Profiling with detailed strategies, financials, and recent developments
  • Supply chain trends mapping the latest technological advancements

Key Topics Covered:

1 Executive Summary

2 Preface

2.1 Abstract

2.2 Stake Holders

2.3 Research Scope

2.4 Research Methodology

2.4.1 Data Mining

2.4.2 Data Analysis

2.4.3 Data Validation

2.4.4 Research Approach

2.5 Research Sources

2.5.1 Primary Research Sources

2.5.2 Secondary Research Sources

2.5.3 Assumptions

3 Market Trend Analysis

3.1 Introduction

3.2 Drivers

3.3 Restraints

3.4 Opportunities

3.5 Threats

3.6 Product Analysis

3.7 Application Analysis

3.8 End User Analysis

3.9 Emerging Markets

3.10 Impact of Covid-19

4 Porters Five Force Analysis

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 Combination

6.3 Construction

6.4 Engineering

6.5 Procurement

6.6 Fabrication

7 Global Oil & Gas EPC Market, By Product

7.1 Introduction

7.2 Type I

7.3 Type II

8 Global Oil & Gas EPC Market, By Application

8.1 Introduction

8.2 Offshore

8.3 Onshore

9 Global Oil & Gas EPC Market, By End User

9.1 Introduction

9.2 Gas Industry

9.3 Oil Industry

10 Global Oil & Gas EPC Market, By Geography

10.1 Introduction

10.2 North America

10.3 Europe

10.4 Asia Pacific

10.5 South America

10.6 Middle East & Africa

11 Key Developments

11.1 Agreements, Partnerships, Collaborations and Joint Ventures

11.2 Acquisitions & Mergers

11.3 New Product Launch

11.4 Expansions

11.5 Other Key Strategies

12 Company Profiling

For more information about this report visit https://www.researchandmarkets.com/r/yeaomp