Market Research Report
Oil and Gas Engineering, Procurement and Construction (EPC) - Global Market Outlook (2018-2027)
|Published by||Stratistics Market Research Consulting||Product code||939129|
|Published||Content info||136 Pages
Delivery time: 2-3 business days
|Oil and Gas Engineering, Procurement and Construction (EPC) - Global Market Outlook (2018-2027)|
|Published: May 1, 2020||Content info: 136 Pages||
According to Stratistics MRC, the Global Oil and Gas Engineering, Procurement and Construction (EPC) Market is accounted for $41.71 billion in 2018 and is expected to reach $76.68 billion by 2027 growing at a CAGR of 7.0% during the forecast period. Some of the key factors propelling the market growth are rising demand for LNG infrastructure and decrease in operating cost of oil & gas fields. However, rising adoption of alternate transportation modes for oil and gas is the restraining factor for the growth of the market.
Oil and Gas Engineering, Procurement and Construction (EPC) is a form of contract agreement by which contractors deliver an operational asset to their clients alongwith service and maintenance contracts.
By sector, the upstream segment is expected to grow at a significant market share during the forecast period as it requires less capital investment and is less complex. On the basis of geography, North America is anticipated to hold considerable market share during the forecast period due to the existence of a large number of market players in the region as the major economies of this region are leading producers of crude oil and gas.
Some of the key players in Oil and Gas Engineering, Procurement and Construction (EPC) Market include L&T Hydrocarbon Engineering, Bechtel Corporation, WorleyParsons Limited, TechnipFMC Plc, John Wood Group PLC, Mott MacDonald, Galfar Engineering, Lamprell, National Petroleum Construction Company, Fluor Corporation, SNC-Lavalin Group, Saipem SpA, Contracting SAOG, Petrofac Limited, and KBR Inc.
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