1. What is the projected Compound Annual Growth Rate (CAGR) of the Oil & Gas EPC Market?
The projected CAGR is approximately 5.4%.
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Oil & Gas EPC MarketOil & Gas EPC Market by Contract Type (Fabrication & Equipment, Construction & Installation, Management Services, Others), by End-User (Upstream, Midstream, Downstream), by Application (Onshore, Offshore), by By Geography (North America), by Europe (Norway, U.K., Russia, Rest of Europe), by Asia Pacific (China, India, Australia, Malaysia, Rest of Asia Pacific), by Latin America (Brazil, Mexico, Rest of Latin America), by Middle East & Africa (Saudi Arabia, U.A.E., Qatar, Oman, Kuwait, Egypt, Iraq) Forecast 2025-2033
The size of the Oil & Gas EPC Market was valued at USD 46.60 USD Billion in 2023 and is projected to reach USD 67.34 USD Billion by 2032, with an expected CAGR of 5.4% during the forecast period. The Oil & Gas EPC (Engineering, Procurement, and Construction) Market refers to the global industry encompassing the design, procurement, and construction services for infrastructure and facilities used in oil and gas exploration, production, processing, and transportation. EPC contractors play a critical role in delivering end-to-end solutions, covering everything from initial design and feasibility studies to the construction and commissioning of projects. These services are integral to the development of upstream (exploration and production), midstream (transportation and storage), and downstream (refining and distribution) oil and gas operations. The market is driven by the growing demand for energy worldwide, which necessitates the expansion and modernization of oil and gas infrastructure. Technological advancements in extraction techniques, such as hydraulic fracturing and deep-water drilling, are fueling the need for EPC services in challenging environments. Additionally, increasing investments in liquefied natural gas (LNG) facilities, petrochemical plants, and renewable energy integration are further boosting market growth.
Contract Type:
End-User:
Application:
| Aspects | Details |
|---|---|
| Study Period | 2019-2033 |
| Base Year | 2024 |
| Estimated Year | 2025 |
| Forecast Period | 2025-2033 |
| Historical Period | 2019-2024 |
| Growth Rate | CAGR of 5.4% from 2019-2033 |
| Segmentation |
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Note*: In applicable scenarios
Primary Research
Secondary Research
Involves using different sources of information in order to increase the validity of a study
These sources are likely to be stakeholders in a program - participants, other researchers, program staff, other community members, and so on.
Then we put all data in single framework & apply various statistical tools to find out the dynamic on the market.
During the analysis stage, feedback from the stakeholder groups would be compared to determine areas of agreement as well as areas of divergence
The projected CAGR is approximately 5.4%.
Key companies in the market include Petrofac (U.K.), Wood (U.K.), Larsen & Toubro (India), McDermott (U.S.), Saipem (Italy), NPCC (UAE), WorleyParsons (Australia), TechnipFMC (U.K.), KBR (U.S.), Lamprell (UAE), Aker (Norway), Subsea7 (U.K.), Fluor Corporation (U.S.).
The market segments include Contract Type, End-User, Application.
The market size is estimated to be USD 46.60 USD Billion as of 2022.
Growing Focus on Safety and Organization to Fuel Market Growth.
Growth of IT Infrastructure to Bolster the Demand for Modern Cable Tray Management Solutions.
Increasing Renewable Energy Usage Poses a Threat to Market Growth.
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The market size is provided in terms of value, measured in USD Billion and volume, measured in MW.
Yes, the market keyword associated with the report is "Oil & Gas EPC Market," which aids in identifying and referencing the specific market segment covered.
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