PUBLISHER: SPER Market Research Pvt. Ltd. | PRODUCT CODE: 1320970
PUBLISHER: SPER Market Research Pvt. Ltd. | PRODUCT CODE: 1320970
Oil and Gas EPC Market Introduction and Overview
According to SPER market research, 'Oil and Gas EPC Market Size- By Service Type, By Application, By End-User- Regional Outlook, Competitive Strategies and Segment Forecast to 2033' state that the Oil and Gas EPC Market is predicted to reach USD 702.70 billion by 2033 with a CAGR of 5.01%.
EPC refers to Engineering, Procurement, and Construction. It describes the procedure by which a business (the EPC contractor) takes control over the design, procurement of supplies and tools, and construction of facilities like drilling platforms, refineries, and pipelines on behalf of an oil and gas company. These services frequently provide a single point of contact for project execution, lowering client risk.
The global oil and gas EPC market was significantly impacted by the Covid-19 pandemic. Due to problems with the supply chain, a lack of workers, and funding issues, many projects were postponed or abandoned. Fewer new projects were started as a result of oil and gas corporations' reduced capital spending. The transition to remote employment created difficulties with communication and project timeframes.
Scope of the Report:
Report Metric Details
Market size available for years 2019-2033
Base year considered 2022
Forecast period 2023-2033
Segments covered By Service Type, By Application, By End-User
Regions covered Asia Pacific, Europe, Middle East and Africa, North America, Latin America
Companies Covered Bechtel, CNGS Group, Daewoo Engineering & Construction Co. Ltd., Fluor Corporation, HEXA, Hyundai Engineering & Construction (Hyundai E&C), Jacobs Engineering Group Inc., JSC Stroytransgaz, KBR Inc., L&T Hydrocarbon Engineering, McDermott International Inc., Mott MacDonald,
Oil and Gas EPC Market Key Segments Covered
By Service Type: Based on the Service Type, Global Oil and Gas EPC Market is segmented as; Construction & Installation, Engineering, Fabrication & Equipment, Management Services, Procurement.
By Application: Based on the Application, Global Oil and Gas EPC Market is segmented as; Offshore, Onshore.
By End-User: Based on the End-User, Global Oil and Gas EPC Market is segmented as; Downstream, Midstream, Upstream.
By Region: This research also includes data for Asia-Pacific, Europe, Middle East and Africa, North America, Latin America.