Oil & 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 2024-2032
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 |
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Study Period | 2018-2032 |
Base Year | 2023 |
Estimated Year | 2024 |
Forecast Period | 2024-2032 |
Historical Period | 2018-2023 |
Growth Rate | CAGR of 5.4% from 2018-2032 |
Segmentation |
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Aspects | Details |
---|---|
Study Period | 2018-2032 |
Base Year | 2023 |
Estimated Year | 2024 |
Forecast Period | 2024-2032 |
Historical Period | 2018-2023 |
Growth Rate | CAGR of 5.4% from 2018-2032 |
Segmentation |
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Note* : In applicable scenarios
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