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石油・ガスEPC市場レポート：分野別、サービスタイプ別、地域別、2024年～2032年

Oil and Gas EPC Market Report by Sector (Upstream, Midstream, Downstream), Service Type (Engineering, Procurement, Construction, Fabrication), Location (Onshore, Offshore), and Region 2024-2032

出版日
発行
IMARC
ページ情報
英文 147 Pages
納期
2～3営業日
カスタマイズ可能
価格
価格表記: USDを日本円(税抜)に換算
本日の銀行送金レート: 1USD=146.99円
石油・ガスEPC市場レポート：分野別、サービスタイプ別、地域別、2024年～2032年
出版日: 2024年07月01日
発行: IMARC
ページ情報: 英文 147 Pages
納期: 2～3営業日
GIIご利用のメリット
  • 全表示
  • 概要
  • 図表
  • 目次
概要

世界の石油・ガスEPC市場規模は2023年に507億米ドルに達しました。今後、IMARC Groupは、市場は2032年までに763億米ドルに達し、2024年から2032年の間に4.4％の成長率（CAGR）を示すと予測しています。同市場は、世界のエネルギー需要の増加、技術の進歩、厳しい規制政策によって牽引されています。

石油・ガスEPC市場分析：

市場の成長と規模世界の石油・ガスEPC市場は、世界のエネルギー需要の増加に牽引され、大きな成長を遂げています。特にオフショアや非在来型埋蔵量における探査・生産活動の急増に伴い、新たなインフラや技術アップグレードのニーズを満たすために市場が拡大しています。

主な市場促進要因：新興諸国を中心とした世界のエネルギー需要の高まりや、水圧破砕や水平掘削といった探鉱・生産における技術進歩が主な促進要因です。また、安全性と環境の持続可能性に焦点を当てた厳しい規制政策により、石油・ガス会社はコンプライアンスに準拠した高度なインフラへの投資を余儀なくされており、EPC市場をさらに促進しています。

主な市場動向：同市場では、AI、IoT、クラウドコンピューティングなどのデジタル技術を導入して効率性とコスト効率を向上させる傾向が見られます。また、炭素回収・貯留技術や再生可能エネルギー源の統合への投資など、持続可能な実践を重視する傾向も強まっています。

地理的動向：北米、特にシェール革命が起きた米国は重要な市場であり、アジア太平洋地域は中国やインドなどのエネルギー消費の増加により急成長しています。欧州は引き続き持続可能なソリューションに注力しているが、中東とアフリカは膨大な在来型埋蔵量への投資を続けています。

競合情勢：同市場は、世界プレーヤーと地域プレーヤーの両方が存在するのが特徴で、主要企業は戦略的提携、技術革新、地理的拡大に取り組んでいます。競合情勢はM&Aによっても形成されており、各社はサービスの多様化と新市場への参入を図っています。

課題と機会：課題には、地政学的リスク、石油価格の変動、過酷な環境におけるプロジェクトの複雑さなどがあります。しかし、こうした課題は、EPC企業が革新と適応を図り、先進的なソリューションを提供し、新興国市場、特にエネルギー需要が増大しインフラが整備されつつある地域を開拓する機会にもなります。

石油・ガスEPC市場傾向

世界のエネルギー需要の伸び

石油・ガスEPC（設計・調達・建設）市場は、主に世界のエネルギー需要の高まりによって牽引されています。世界人口の増加と経済の拡大に伴い、特に新興経済諸国ではエネルギーに対するニーズが高まっています。この需要増は石油・ガスセクターの探査・生産活動に拍車をかけ、インフラや新規プロジェクトの拡大を必要とします。EPC企業はこの拡大にとって不可欠であり、設計から施行までエンド・ツー・エンドのサービスを提供することで、増大するエネルギー需要の恩恵を受けています。この需要は、伝統的な石油・ガス資源とシェールガスのような非在来型資源の両方で見られ、抽出と処理に特化したEPCサービスを必要としています。

探査と生産における技術の進歩

技術の進歩は、石油・ガスEPC市場を形成する上で極めて重要な役割を果たしています。水圧破砕や水平掘削などの新技術の開発は業界に革命をもたらし、以前は到達できなかった埋蔵量へのアクセスを可能にしました。この技術の進歩は、特に遠隔地や深海での新たな石油・ガス田の発見につながった。EPC企業は、これらの技術をプロジェクトに統合し、効率を向上させ、操業コストを削減する最前線にいます。プロジェクト管理や予知保全のための人工知能（AI）やモノのインターネット（IoT）のようなデジタルツールの導入は、プロジェクト遂行を強化し、期間を短縮することによってEPC市場をさらに牽引し、EPCサービスを石油・ガス会社にとってより魅力的なものにしています。

規制政策と環境への配慮

規制状況は石油・ガスEPC市場に大きな影響を与えます。世界各国の政府は、安全、排出、環境保護に関する厳しい規制を実施しています。これらの規制により、石油・ガス会社は、既存のインフラを修正し、適合する新しい設備に投資することを余儀なくされています。規制基準や持続可能な慣行に関する専門知識を持つEPCプロバイダーは、こうした企業にとって不可欠なパートナーとなっています。さらに、よりクリーンなエネルギーへのシフトと、操業における二酸化炭素排出量削減の必要性から、EPC部門は環境に優しいソリューションを提供するための技術革新を促しています。これには、炭素回収・貯留（CCS）技術の開拓や、石油・ガス事業への再生可能エネルギー源の統合が含まれ、EPCサービスの市場範囲を広げています。

目次

第1章 序文

第2章 調査範囲と調査手法

  • 調査の目的
  • ステークホルダー
  • データソース
    • 一次情報
    • 二次情報
  • 市場推定
    • ボトムアップアプローチ
    • トップダウンアプローチ
  • 調査手法

第3章 エグゼクティブサマリー

第4章 イントロダクション

  • 概要
  • 主要業界動向

第5章 世界石油・ガスEPC市場

  • 市場概要
  • 市場実績
  • COVID-19の影響
  • 市場予測

第6章 市場内訳：セクター別

  • 上流
    • 市場動向
    • 市場予測
  • 中流
    • 市場動向
    • 市場予測
  • 下流
    • 市場動向
    • 市場予測

第7章 市場内訳：サービスタイプ別 別

  • エンジニアリング
    • 市場動向
    • 市場予測
  • 調達
    • 市場動向
    • 市場予測
  • 建設
    • 市場動向
    • 市場予測
  • 製作
    • 市場動向
    • 市場予測

第8章 市場内訳：場所別

  • オンショア
    • 市場動向
    • 市場予測
  • オフショア
    • 市場動向
    • 市場予測

第9章 市場内訳：地域別

  • 北米
    • 米国
    • カナダ
  • アジア太平洋
    • 中国
    • 日本
    • インド
    • 韓国
    • オーストラリア
    • インドネシア
    • その他
  • 欧州
    • ドイツ
    • フランス
    • 英国
    • イタリア
    • スペイン
    • ロシア
    • その他
  • ラテンアメリカ
    • ブラジル
    • メキシコ
    • その他
  • 中東・アフリカ
    • 市場動向
    • 市場内訳：国別
    • 市場予測

第10章 SWOT分析

  • 概要
  • 強み
  • 弱み
  • 機会
  • 脅威

第11章 バリューチェーン分析

第12章 ポーターのファイブフォース分析

  • 概要
  • 買い手の交渉力
  • 供給企業の交渉力
  • 競合の程度
  • 新規参入業者の脅威
  • 代替品の脅威

第13章 価格分析

第14章 競合情勢

  • 市場構造
  • 主要企業
  • 主要企業のプロファイル
    • Bechtel Corporation
    • Fluor Corporation
    • Hyundai Heavy Industries Co. Ltd.（HD Hyundai）
    • John Wood Group PLC
    • KBR Inc.
    • Larsen & Toubro Limited
    • McDermott International Ltd.
    • National Petroleum Construction Company
    • Petrofac Limited
    • Saipem S.p.A.（Eni S.p.A.）
    • Samsung Engineering Co. Ltd.
    • TechnipFMC plc
    • Tecnicas Reunidas S. A.
    • WorleyParsons Limited
図表

List of Figures

  • Figure 1: Global: Oil & Gas EPC Market: Major Drivers and Challenges
  • Figure 2: Global: Oil & Gas EPC Market: Sales Value (in Billion US$), 2018-2023
  • Figure 3: Global: Oil & Gas EPC Market Forecast: Sales Value (in Billion US$), 2024-2032
  • Figure 4: Global: Oil & Gas EPC Market: Breakup by Sector (in %), 2023
  • Figure 5: Global: Oil & Gas EPC Market: Breakup by Service Type (in %), 2023
  • Figure 6: Global: Oil & Gas EPC Market: Breakup by Location (in %), 2023
  • Figure 7: Global: Oil & Gas EPC Market: Breakup by Region (in %), 2023
  • Figure 8: Global: Oil & Gas EPC (Upstream) Market: Sales Value (in Million US$), 2018 & 2023
  • Figure 9: Global: Oil & Gas EPC (Upstream) Market Forecast: Sales Value (in Million US$), 2024-2032
  • Figure 10: Global: Oil & Gas EPC (Midstream) Market: Sales Value (in Million US$), 2018 & 2023
  • Figure 11: Global: Oil & Gas EPC (Midstream) Market Forecast: Sales Value (in Million US$), 2024-2032
  • Figure 12: Global: Oil & Gas EPC (Downstream) Market: Sales Value (in Million US$), 2018 & 2023
  • Figure 13: Global: Oil & Gas EPC (Downstream) Market Forecast: Sales Value (in Million US$), 2024-2032
  • Figure 14: Global: Oil & Gas EPC (Engineering) Market: Sales Value (in Million US$), 2018 & 2023
  • Figure 15: Global: Oil & Gas EPC (Engineering) Market Forecast: Sales Value (in Million US$), 2024-2032
  • Figure 16: Global: Oil & Gas EPC (Procurement) Market: Sales Value (in Million US$), 2018 & 2023
  • Figure 17: Global: Oil & Gas EPC (Procurement) Market Forecast: Sales Value (in Million US$), 2024-2032
  • Figure 18: Global: Oil & Gas EPC (Construction) Market: Sales Value (in Million US$), 2018 & 2023
  • Figure 19: Global: Oil & Gas EPC (Construction) Market Forecast: Sales Value (in Million US$), 2024-2032
  • Figure 20: Global: Oil & Gas EPC (Fabrication) Market: Sales Value (in Million US$), 2018 & 2023
  • Figure 21: Global: Oil & Gas EPC (Fabrication) Market Forecast: Sales Value (in Million US$), 2024-2032
  • Figure 22: Global: Oil & Gas EPC (Onshore) Market: Sales Value (in Million US$), 2018 & 2023
  • Figure 23: Global: Oil & Gas EPC (Onshore) Market Forecast: Sales Value (in Million US$), 2024-2032
  • Figure 24: Global: Oil & Gas EPC (Offshore) Market: Sales Value (in Million US$), 2018 & 2023
  • Figure 25: Global: Oil & Gas EPC (Offshore) Market Forecast: Sales Value (in Million US$), 2024-2032
  • Figure 26: North America: Oil & Gas EPC Market: Sales Value (in Million US$), 2018 & 2023
  • Figure 27: North America: Oil & Gas EPC Market Forecast: Sales Value (in Million US$), 2024-2032
  • Figure 28: United States: Oil & Gas EPC Market: Sales Value (in Million US$), 2018 & 2023
  • Figure 29: United States: Oil & Gas EPC Market Forecast: Sales Value (in Million US$), 2024-2032
  • Figure 30: Canada: Oil & Gas EPC Market: Sales Value (in Million US$), 2018 & 2023
  • Figure 31: Canada: Oil & Gas EPC Market Forecast: Sales Value (in Million US$), 2024-2032
  • Figure 32: Asia-Pacific: Oil & Gas EPC Market: Sales Value (in Million US$), 2018 & 2023
  • Figure 33: Asia-Pacific: Oil & Gas EPC Market Forecast: Sales Value (in Million US$), 2024-2032
  • Figure 34: China: Oil & Gas EPC Market: Sales Value (in Million US$), 2018 & 2023
  • Figure 35: China: Oil & Gas EPC Market Forecast: Sales Value (in Million US$), 2024-2032
  • Figure 36: Japan: Oil & Gas EPC Market: Sales Value (in Million US$), 2018 & 2023
  • Figure 37: Japan: Oil & Gas EPC Market Forecast: Sales Value (in Million US$), 2024-2032
  • Figure 38: India: Oil & Gas EPC Market: Sales Value (in Million US$), 2018 & 2023
  • Figure 39: India: Oil & Gas EPC Market Forecast: Sales Value (in Million US$), 2024-2032
  • Figure 40: South Korea: Oil & Gas EPC Market: Sales Value (in Million US$), 2018 & 2023
  • Figure 41: South Korea: Oil & Gas EPC Market Forecast: Sales Value (in Million US$), 2024-2032
  • Figure 42: Australia: Oil & Gas EPC Market: Sales Value (in Million US$), 2018 & 2023
  • Figure 43: Australia: Oil & Gas EPC Market Forecast: Sales Value (in Million US$), 2024-2032
  • Figure 44: Indonesia: Oil & Gas EPC Market: Sales Value (in Million US$), 2018 & 2023
  • Figure 45: Indonesia: Oil & Gas EPC Market Forecast: Sales Value (in Million US$), 2024-2032
  • Figure 46: Others: Oil & Gas EPC Market: Sales Value (in Million US$), 2018 & 2023
  • Figure 47: Others: Oil & Gas EPC Market Forecast: Sales Value (in Million US$), 2024-2032
  • Figure 48: Europe: Oil & Gas EPC Market: Sales Value (in Million US$), 2018 & 2023
  • Figure 49: Europe: Oil & Gas EPC Market Forecast: Sales Value (in Million US$), 2024-2032
  • Figure 50: Germany: Oil & Gas EPC Market: Sales Value (in Million US$), 2018 & 2023
  • Figure 51: Germany: Oil & Gas EPC Market Forecast: Sales Value (in Million US$), 2024-2032
  • Figure 52: France: Oil & Gas EPC Market: Sales Value (in Million US$), 2018 & 2023
  • Figure 53: France: Oil & Gas EPC Market Forecast: Sales Value (in Million US$), 2024-2032
  • Figure 54: United Kingdom: Oil & Gas EPC Market: Sales Value (in Million US$), 2018 & 2023
  • Figure 55: United Kingdom: Oil & Gas EPC Market Forecast: Sales Value (in Million US$), 2024-2032
  • Figure 56: Italy: Oil & Gas EPC Market: Sales Value (in Million US$), 2018 & 2023
  • Figure 57: Italy: Oil & Gas EPC Market Forecast: Sales Value (in Million US$), 2024-2032
  • Figure 58: Spain: Oil & Gas EPC Market: Sales Value (in Million US$), 2018 & 2023
  • Figure 59: Spain: Oil & Gas EPC Market Forecast: Sales Value (in Million US$), 2024-2032
  • Figure 60: Russia: Oil & Gas EPC Market: Sales Value (in Million US$), 2018 & 2023
  • Figure 61: Russia: Oil & Gas EPC Market Forecast: Sales Value (in Million US$), 2024-2032
  • Figure 62: Others: Oil & Gas EPC Market: Sales Value (in Million US$), 2018 & 2023
  • Figure 63: Others: Oil & Gas EPC Market Forecast: Sales Value (in Million US$), 2024-2032
  • Figure 64: Latin America: Oil & Gas EPC Market: Sales Value (in Million US$), 2018 & 2023
  • Figure 65: Latin America: Oil & Gas EPC Market Forecast: Sales Value (in Million US$), 2024-2032
  • Figure 66: Brazil: Oil & Gas EPC Market: Sales Value (in Million US$), 2018 & 2023
  • Figure 67: Brazil: Oil & Gas EPC Market Forecast: Sales Value (in Million US$), 2024-2032
  • Figure 68: Mexico: Oil & Gas EPC Market: Sales Value (in Million US$), 2018 & 2023
  • Figure 69: Mexico: Oil & Gas EPC Market Forecast: Sales Value (in Million US$), 2024-2032
  • Figure 70: Others: Oil & Gas EPC Market: Sales Value (in Million US$), 2018 & 2023
  • Figure 71: Others: Oil & Gas EPC Market Forecast: Sales Value (in Million US$), 2024-2032
  • Figure 72: Middle East and Africa: Oil & Gas EPC Market: Sales Value (in Million US$), 2018 & 2023
  • Figure 73: Middle East and Africa: Oil & Gas EPC Market: Breakup by Country (in %), 2023
  • Figure 74: Middle East and Africa: Oil & Gas EPC Market Forecast: Sales Value (in Million US$), 2024-2032
  • Figure 75: Global: Oil & Gas EPC Industry: SWOT Analysis
  • Figure 76: Global: Oil & Gas EPC Industry: Value Chain Analysis
  • Figure 77: Global: Oil & Gas EPC Industry: Porter's Five Forces Analysis

List of Tables

  • Table 1: Global: Oil & Gas EPC Market: Key Industry Highlights, 2023 and 2032
  • Table 2: Global: Oil & Gas EPC Market Forecast: Breakup by Sector (in Million US$), 2024-2032
  • Table 3: Global: Oil & Gas EPC Market Forecast: Breakup by Service Type (in Million US$), 2024-2032
  • Table 4: Global: Oil & Gas EPC Market Forecast: Breakup by Location (in Million US$), 2024-2032
  • Table 5: Global: Oil & Gas EPC Market Forecast: Breakup by Region (in Million US$), 2024-2032
  • Table 6: Global: Oil & Gas EPC Market: Competitive Structure
  • Table 7: Global: Oil & Gas EPC Market: Key Players
目次
Product Code: SR112024A4997

The global oil and gas EPC market size reached US$ 50.7 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 76.3 Billion by 2032, exhibiting a growth rate (CAGR) of 4.4% during 2024-2032. The market is driven by rising global energy demand, technological advancements, and stringent regulatory policies.

Oil and Gas EPC Market Analysis:

Market Growth and Size: The global oil and gas EPC market is experiencing significant growth, driven by the increasing demand for energy worldwide. With the surge in exploration and production activities, particularly in offshore and unconventional reserves, the market is expanding to meet the needs for new infrastructure and technology upgrades.

Major Market Drivers: Key drivers include the escalating global energy demand, particularly in developing countries, and technological advancements in exploration and production, such as hydraulic fracturing and horizontal drilling. Additionally, stringent regulatory policies focusing on safety and environmental sustainability are compelling oil and gas companies to invest in compliant and advanced infrastructure, further propelling the EPC market.

Key Market Trends: The market is witnessing a trend toward the adoption of digital technologies like AI, IoT, and cloud computing for improved efficiency and cost-effectiveness. There is also a growing emphasis on sustainable practices, with investments in carbon capture and storage technologies and the integration of renewable energy sources.

Geographical Trends: North America, particularly the United States with its shale revolution, is a significant market, while the Asia Pacific region is rapidly growing due to increasing energy consumption in countries like China and India. Europe remains focused on sustainable solutions, whereas the Middle East and Africa continue to invest in their vast conventional reserves.

Competitive Landscape: The market is characterized by the presence of both global and regional players, with major companies engaging in strategic collaborations, technological innovation, and geographic expansion. The competitive landscape is also shaped by mergers and acquisitions, allowing companies to diversify services and access new markets.

Challenges and Opportunities: Challenges include geopolitical risks, fluctuating oil prices, and the complexity of projects in harsh environments. However, these challenges also present opportunities for EPC companies to innovate and adapt, offering advanced solutions and tapping into emerging markets, especially in regions with increasing energy needs and infrastructural developments.

Oil and Gas EPC Market Trends:

Global energy demand growth

The oil and gas engineering, procurement, and construction (EPC) market is primarily driven by the escalating global energy demand. As the global population grows and economies expand, the need for energy intensifies, particularly in developing countries. This increased demand fuels the exploration and production activities in the oil and gas sector, necessitating expanded infrastructure and new projects. EPC companies are integral to this expansion, offering end-to-end services from design to execution, thus benefiting from the growing energy requirements. This demand is being witnessed in both traditional oil and gas resources and unconventional resources like shale gas, requiring specialized EPC services for extraction and processing.

Technological advancements in exploration and production

Technological advancements play a crucial role in shaping the oil and gas EPC market. The development of new technologies, such as hydraulic fracturing and horizontal drilling, has revolutionized the industry, enabling access to previously unreachable reserves. This technological progression has led to the discovery of new oil and gas fields, especially in remote and deep-water locations. EPC companies are at the forefront of integrating these technologies into their projects, improving efficiency and reducing operational costs. The incorporation of digital tools like artificial intelligence (AI) and the Internet of Things (IoT) for project management and predictive maintenance further drives the EPC market by enhancing project execution and reducing time frames, making EPC services more attractive to oil and gas companies.

Regulatory policies and environmental considerations

The regulatory landscape significantly impacts the oil and gas EPC market. Governments worldwide are implementing stringent regulations regarding safety, emissions, and environmental protection. These regulations compel oil and gas companies to modify existing infrastructure and invest in new, compliant facilities. EPC providers, with their expertise in regulatory norms and sustainable practices, become essential partners for these companies. Moreover, the shift toward cleaner energy and the need for carbon footprint reduction in operations has prompted the EPC sector to innovate in providing environmentally friendly solutions. This includes the development of carbon capture and storage (CCS) technologies and the integration of renewable energy sources into oil and gas operations, broadening the market scope for EPC services.

Oil and Gas EPC Industry Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the global, regional, and country levels for 2024-2032. Our report has categorized the market based on sector, service type, and location.

Breakup by Sector:

Upstream

Midstream

Downstream

Upstream accounts for the majority of the market share

The report has provided a detailed breakup and analysis of the market based on the sector. This includes upstream, midstream, and downstream. According to the report, upstream represented the largest segment.

The upstream sector encompasses activities related to exploration and production (E&P). The dominance of the sector is attributed to the extensive exploration activities for new oil and gas reserves, driven by the global rise in energy demand. EPC services in the upstream sector involve complex and technologically advanced projects, ranging from seismic surveys and geological modeling to drilling and well completion. The focus on unconventional resources like shale gas and deep-water reserves further amplifies the demand for specialized EPC services. Companies operating in this segment are heavily investing in innovative technologies to improve exploration success rates and optimize production efficiency, ensuring their competitive edge in the market.

The midstream sector in the oil and gas EPC market covers transportation and storage infrastructure, an essential link between upstream production and downstream processing. This segment includes the development of pipelines, storage facilities, and transportation systems for crude oil, natural gas, and refined products. The growth in this segment is fueled by the need to expand the transportation network to connect new production areas with processing facilities and markets. Additionally, the increasing trade of liquefied natural gas (LNG) globally has spurred investments in LNG terminals and related infrastructure. EPC companies in the midstream sector are focusing on building efficient and secure transportation systems, often incorporating advanced monitoring and automation technologies to ensure safety and regulatory compliance.

The downstream sector involves the processing, refining, and distribution of petroleum products. This sector is characterized by the construction and maintenance of refineries, petrochemical plants, and distribution networks. The demand in this segment is influenced by the need for more sophisticated and environmentally compliant refining processes, as well as the expansion of petrochemical product ranges. EPC services in the downstream sector are increasingly adopting digital solutions for process optimization and are investing in modernization projects to meet stringent environmental regulations. The focus is also on retrofitting existing facilities to improve efficiency and reduce the environmental impact, catering to the evolving market demands and regulatory landscape.

Breakup by Service Type:

Engineering

Procurement

Construction

Fabrication

Construction holds the largest share in the industry

A detailed breakup and analysis of the market based on the service type have also been provided in the report. This includes engineering, procurement, construction, and fabrication. According to the report, construction accounted for the largest market share.

The construction services segment involves the building and installation of infrastructure. The growth in this segment is attributed to the extensive labor and material resources required for constructing oil and gas facilities, ranging from drilling rigs and production platforms to pipelines and refineries. Companies in this segment are often challenged with executing complex projects in diverse and sometimes harsh environments. They are increasingly adopting modular construction techniques, advanced machinery, and automation to enhance efficiency, reduce project timelines, and ensure worker safety. The construction phase is critical for the overall success of the project, demanding high levels of expertise and project management capabilities.

Engineering services encompass the initial design and planning stages of a project. This segment involves a range of activities, from feasibility studies and conceptual design to detailed engineering and project management. The demand for engineering services is driven by the need for innovative and efficient designs that can optimize operations and reduce costs. With the increasing complexity of oil and gas projects, especially in challenging environments like deep-water locations, expertise in advanced engineering methodologies and digital tools becomes critical. This segment is vital for ensuring that projects are technically feasible, cost-effective, and compliant with environmental and safety standards.

Procurement services in the oil and gas EPC market involve the sourcing and supply of materials, equipment, and services required for project execution. This segment plays a crucial role in ensuring the timely and cost-effective availability of quality resources. The complexity of oil and gas projects demands specialized procurement strategies to manage the logistics and supply chain effectively. Companies offering procurement services are increasingly leveraging digital platforms and data analytics to enhance supply chain efficiency, reduce costs, and ensure timely delivery. The focus is also on establishing strong relationships with suppliers and vendors to ensure the reliability and quality of the materials and services procured.

Fabrication services in the oil and gas EPC market pertain to the creation of components and structures required for oil and gas projects. This segment involves activities such as welding, metalworking, and assembling parts for use in various applications like offshore platforms and pipeline systems. Fabrication plays a key role in the overall project lifecycle, with a focus on quality, precision, and adherence to industry standards. The demand in this segment is influenced by the need for custom-made, durable, and high-performance components that can withstand the demanding conditions of oil and gas operations. Companies offering fabrication services are continuously evolving their techniques and technologies to meet the specific needs of complex and large-scale projects.

Breakup by Location:

Onshore

Offshore

Offshore represents the leading market segment

The report has provided a detailed breakup and analysis of the market based on the location. This includes onshore and offshore. According to the report, offshore represented the largest segment.

The offshore segment deals with projects located in sea or ocean beds. The dominance of this segment is largely due to the increasing exploration and production activities in offshore reserves, driven by the depletion of onshore resources and the technological advancements enabling deep-water drilling. Offshore projects are inherently complex and challenging, requiring specialized engineering, advanced equipment, and robust construction practices to withstand harsh marine environments. The segment includes the development of platforms, subsea pipelines, and floating production systems. EPC companies in this sector are continually innovating to improve safety, environmental sustainability, and efficiency in offshore operations. The high capital investment and technical expertise required for offshore projects contribute to the market growth in this segment.

The onshore segment encompasses projects located on land. This segment includes the construction and maintenance of oil and gas fields, refineries, pipelines, and storage facilities on terrestrial sites. While onshore projects are generally less complex and costly than offshore ones, they are crucial for the continuous supply of oil and gas. The onshore segment benefits from easier accessibility, lower development costs, and a broader range of applicable technologies compared to offshore operations. Recent advancements in extraction technologies, such as hydraulic fracturing and horizontal drilling, have revitalized onshore oil and gas production, especially in regions rich in shale reserves. EPC companies in the onshore segment focus on optimizing project execution through cost-effective solutions and technological integration, catering to the global demand for energy resources.

Breakup by Region:

North America

United States

Canada

Asia-Pacific

China

Japan

India

South Korea

Australia

Indonesia

Others

Europe

Germany

France

United Kingdom

Italy

Spain

Russia

Others

Latin America

Brazil

Mexico

Others

Middle East and Africa

The market research report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa.

In North America, the oil and gas EPC market is significantly driven by substantial oil and natural gas reserves available in the region. The United States, in particular, has seen a resurgence in its oil and gas industry due to advancements in extraction technologies like hydraulic fracturing and horizontal drilling, especially in shale formations. The Canadian market is influenced by its vast oil sands reserves and LNG projects. The presence of major oil and gas companies and EPC contractors, coupled with favorable governmental policies, supports the growth of the North America EPC market. The focus on reducing environmental impact and implementing modern technologies in operations further characterizes the market.

The Asia Pacific region represents a rapidly growing segment of the global oil and gas EPC market. This growth is fueled by increasing energy consumption due to rapid industrialization and urbanization, particularly in China and India. Significant investments in exploring and developing new oil and gas fields, along with upgrading existing infrastructure, drive the demand for EPC services. The growing focus on LNG projects in Australia and the expanding oil and gas sector in Indonesia also contribute significantly to the market. The diverse and competitive landscape in the region offers substantial opportunities for EPC companies, especially in integrating innovative and sustainable technologies.

The Europe oil and gas EPC market is influenced by the mature oil and gas fields in the region, the need for technological upgrades in infrastructure, and stringent environmental regulations. Countries like Norway, the United Kingdom, and Russia play significant roles due to their substantial offshore reserves. The market is also driven by the focus on sustainable and efficient energy solutions in the region, including the integration of renewable energy sources and the development of green technologies. European EPC companies are leaders in deploying advanced technologies and engineering solutions, catering to both regional and global markets.

The Latin America oil and gas EPC market is predominantly driven by activities in countries like Brazil and Mexico. The deep-water pre-salt oil fields in Brazil and reforms in the energy sector in Mexico are key growth drivers. The region holds considerable untapped reserves, presenting substantial opportunities for EPC projects. However, political and economic instability can be challenging, impacting investments and project execution. The market growth is contingent on governmental policies, foreign investments, and technological advancements in exploiting complex reserves.

The Middle East and Africa region, with its vast conventional oil and gas reserves, is a crucial player in the global EPC market. The Middle East, particularly countries like Saudi Arabia, the UAE, and Qatar, continues to invest heavily in expanding and upgrading its oil and gas infrastructure. The market in Africa, while smaller, is growing, with countries like Nigeria and Angola investing in developing their oil and gas sectors. The market in the region is characterized by large-scale projects, often with state-owned oil companies playing a significant role. Despite geopolitical risks, the market potential in the Middle East and Africa remains high, driven by ongoing investments in both onshore and offshore projects.

Leading Key Players in the Oil and Gas EPC Industry:

The leading companies in the oil and gas EPC market are actively engaging in strategic collaborations and technological innovation and expanding their geographical reach to strengthen their market position. They are focusing on integrating advanced technologies like AI, IoT, and cloud computing to enhance efficiency, reduce project timelines, and lower operational costs. Moreover, in response to the increasing environmental concerns and regulatory requirements, these companies are investing in sustainable practices, including the development of carbon capture and storage technologies. Partnerships and acquisitions are also prevalent, allowing these companies to diversify their services and tap into emerging markets, particularly in developing countries with growing energy needs.

The market research report has provided a comprehensive analysis of the competitive landscape. Detailed profiles of all major companies have also been provided. Some of the key players in the market include:

Bechtel Corporation

Fluor Corporation

Hyundai Heavy Industries Co. Ltd. (HD Hyundai)

John Wood Group PLC

KBR Inc.

Larsen & Toubro Limited

McDermott International Ltd.

National Petroleum Construction Company

Petrofac Limited

Saipem S.p.A. (Eni S.p.A.)

Samsung Engineering Co. Ltd.

TechnipFMC plc

Tecnicas Reunidas S. A.

WorleyParsons Limited

(Please note that this is only a partial list of the key players, and the complete list is provided in the report.)

Latest News:

September 2023: John Wood Group PLC has secured contracts with major UK operators for its digital maintenance optimization solution, maintAI. The solution uses artificial intelligence and client data to reduce maintenance backlog and operating costs by up to 20%. Wood is also using maintAI to support a global operator in optimizing maintenance across North Sea assets and reducing maintenance backlogs.

September 2023: Fluor Corporation has announced the sale of its Stork business in Belgium, Germany, and the Netherlands, and its turbo blading manufacturing operation in the United States to Bilfinger SE, an industrial services provider. This move aligns with Fluor's strategy to focus on its core businesses and capital priorities.

July 2022: National Petroleum Construction Company (NPCC) and Technip Energies signed an agreement to establish a joint venture aimed at providing added value services in hydrogen, decarbonization projects, CO2 capture, and other energy transition-related themes in the UAE, Middle East, and North Africa. The new joint venture, NT ENERGIES LLC, also offers services in oil and gas fields, energy efficiency, and alternative energy equipment.

Key Questions Answered in This Report

  • 1. What was the size of the global oil and gas EPC market in 2023?
  • 2. What is the expected growth rate of the global oil and gas EPC market during 2024-2032?
  • 3. What are the key factors driving the global oil and gas EPC market?
  • 4. What has been the impact of COVID-19 on the global oil and gas EPC market?
  • 5. What is the breakup of the global oil and gas EPC market based on the sector?
  • 6. What is the breakup of the global oil and gas EPC market based on the service type?
  • 7. What is the breakup of the global oil and gas EPC market based on location?
  • 8. What are the key regions in the global oil and gas EPC market?
  • 9. Who are the key players/companies in the global oil and gas EPC market?

Table of Contents

1 Preface

2 Scope and Methodology

  • 2.1 Objectives of the Study
  • 2.2 Stakeholders
  • 2.3 Data Sources
    • 2.3.1 Primary Sources
    • 2.3.2 Secondary Sources
  • 2.4 Market Estimation
    • 2.4.1 Bottom-Up Approach
    • 2.4.2 Top-Down Approach
  • 2.5 Forecasting Methodology

3 Executive Summary

4 Introduction

  • 4.1 Overview
  • 4.2 Key Industry Trends

5 Global Oil & Gas EPC Market

  • 5.1 Market Overview
  • 5.2 Market Performance
  • 5.3 Impact of COVID-19
  • 5.4 Market Forecast

6 Market Breakup by Sector

  • 6.1 Upstream
    • 6.1.1 Market Trends
    • 6.1.2 Market Forecast
  • 6.2 Midstream
    • 6.2.1 Market Trends
    • 6.2.2 Market Forecast
  • 6.3 Downstream
    • 6.3.1 Market Trends
    • 6.3.2 Market Forecast

7 Market Breakup by Service Type

  • 7.1 Engineering
    • 7.1.1 Market Trends
    • 7.1.2 Market Forecast
  • 7.2 Procurement
    • 7.2.1 Market Trends
    • 7.2.2 Market Forecast
  • 7.3 Construction
    • 7.3.1 Market Trends
    • 7.3.2 Market Forecast
  • 7.4 Fabrication
    • 7.4.1 Market Trends
    • 7.4.2 Market Forecast

8 Market Breakup by Location

  • 8.1 Onshore
    • 8.1.1 Market Trends
    • 8.1.2 Market Forecast
  • 8.2 Offshore
    • 8.2.1 Market Trends
    • 8.2.2 Market Forecast

9 Market Breakup by Region

  • 9.1 North America
    • 9.1.1 United States
      • 9.1.1.1 Market Trends
      • 9.1.1.2 Market Forecast
    • 9.1.2 Canada
      • 9.1.2.1 Market Trends
      • 9.1.2.2 Market Forecast
  • 9.2 Asia-Pacific
    • 9.2.1 China
      • 9.2.1.1 Market Trends
      • 9.2.1.2 Market Forecast
    • 9.2.2 Japan
      • 9.2.2.1 Market Trends
      • 9.2.2.2 Market Forecast
    • 9.2.3 India
      • 9.2.3.1 Market Trends
      • 9.2.3.2 Market Forecast
    • 9.2.4 South Korea
      • 9.2.4.1 Market Trends
      • 9.2.4.2 Market Forecast
    • 9.2.5 Australia
      • 9.2.5.1 Market Trends
      • 9.2.5.2 Market Forecast
    • 9.2.6 Indonesia
      • 9.2.6.1 Market Trends
      • 9.2.6.2 Market Forecast
    • 9.2.7 Others
      • 9.2.7.1 Market Trends
      • 9.2.7.2 Market Forecast
  • 9.3 Europe
    • 9.3.1 Germany
      • 9.3.1.1 Market Trends
      • 9.3.1.2 Market Forecast
    • 9.3.2 France
      • 9.3.2.1 Market Trends
      • 9.3.2.2 Market Forecast
    • 9.3.3 United Kingdom
      • 9.3.3.1 Market Trends
      • 9.3.3.2 Market Forecast
    • 9.3.4 Italy
      • 9.3.4.1 Market Trends
      • 9.3.4.2 Market Forecast
    • 9.3.5 Spain
      • 9.3.5.1 Market Trends
      • 9.3.5.2 Market Forecast
    • 9.3.6 Russia
      • 9.3.6.1 Market Trends
      • 9.3.6.2 Market Forecast
    • 9.3.7 Others
      • 9.3.7.1 Market Trends
      • 9.3.7.2 Market Forecast
  • 9.4 Latin America
    • 9.4.1 Brazil
      • 9.4.1.1 Market Trends
      • 9.4.1.2 Market Forecast
    • 9.4.2 Mexico
      • 9.4.2.1 Market Trends
      • 9.4.2.2 Market Forecast
    • 9.4.3 Others
      • 9.4.3.1 Market Trends
      • 9.4.3.2 Market Forecast
  • 9.5 Middle East and Africa
    • 9.5.1 Market Trends
    • 9.5.2 Market Breakup by Country
    • 9.5.3 Market Forecast

10 SWOT Analysis

  • 10.1 Overview
  • 10.2 Strengths
  • 10.3 Weaknesses
  • 10.4 Opportunities
  • 10.5 Threats

11 Value Chain Analysis

12 Porters Five Forces Analysis

  • 12.1 Overview
  • 12.2 Bargaining Power of Buyers
  • 12.3 Bargaining Power of Suppliers
  • 12.4 Degree of Competition
  • 12.5 Threat of New Entrants
  • 12.6 Threat of Substitutes

13 Price Analysis

14 Competitive Landscape

  • 14.1 Market Structure
  • 14.2 Key Players
  • 14.3 Profiles of Key Players
    • 14.3.1 Bechtel Corporation
      • 14.3.1.1 Company Overview
      • 14.3.1.2 Product Portfolio
    • 14.3.2 Fluor Corporation
      • 14.3.2.1 Company Overview
      • 14.3.2.2 Product Portfolio
      • 14.3.2.3 Financials
      • 14.3.2.4 SWOT Analysis
    • 14.3.3 Hyundai Heavy Industries Co. Ltd. (HD Hyundai)
      • 14.3.3.1 Company Overview
      • 14.3.3.2 Product Portfolio
    • 14.3.4 John Wood Group PLC
      • 14.3.4.1 Company Overview
      • 14.3.4.2 Product Portfolio
      • 14.3.4.3 Financials
      • 14.3.4.4 SWOT Analysis
    • 14.3.5 KBR Inc.
      • 14.3.5.1 Company Overview
      • 14.3.5.2 Product Portfolio
      • 14.3.5.3 Financials
      • 14.3.5.4 SWOT Analysis
    • 14.3.6 Larsen & Toubro Limited
      • 14.3.6.1 Company Overview
      • 14.3.6.2 Product Portfolio
      • 14.3.6.3 Financials
      • 14.3.6.4 SWOT Analysis
    • 14.3.7 McDermott International Ltd.
      • 14.3.7.1 Company Overview
      • 14.3.7.2 Product Portfolio
      • 14.3.7.3 Financials
      • 14.3.7.4 SWOT Analysis
    • 14.3.8 National Petroleum Construction Company
      • 14.3.8.1 Company Overview
      • 14.3.8.2 Product Portfolio
    • 14.3.9 Petrofac Limited
      • 14.3.9.1 Company Overview
      • 14.3.9.2 Product Portfolio
      • 14.3.9.3 Financials
      • 14.3.9.4 SWOT Analysis
    • 14.3.10 Saipem S.p.A. (Eni S.p.A.)
      • 14.3.10.1 Company Overview
      • 14.3.10.2 Product Portfolio
      • 14.3.10.3 Financials
      • 14.3.10.4 SWOT Analysis
    • 14.3.11 Samsung Engineering Co. Ltd.
      • 14.3.11.1 Company Overview
      • 14.3.11.2 Product Portfolio
      • 14.3.11.3 Financials
      • 14.3.11.4 SWOT Analysis
    • 14.3.12 TechnipFMC plc
      • 14.3.12.1 Company Overview
      • 14.3.12.2 Product Portfolio
      • 14.3.12.3 Financials
      • 14.3.12.4 SWOT Analysis
    • 14.3.13 Tecnicas Reunidas S. A.
      • 14.3.13.1 Company Overview
      • 14.3.13.2 Product Portfolio
      • 14.3.13.3 Financials
      • 14.3.13.4 SWOT Analysis
    • 14.3.14 WorleyParsons Limited
      • 14.3.14.1 Company Overview
      • 14.3.14.2 Product Portfolio
      • 14.3.14.3 Financials
      • 14.3.14.4 SWOT Analysis