Oil And Gas Fabrication Market Size, Share, Growth Analysis, By Fabrication, By Structure, By Upstream Sector, By Downstream Sector, By Material, By Region - Industry Forecast 2025-2032
Global Oil And Gas Fabrication Market size was valued at USD 4.9 billion in 2023 and is poised to grow from USD 5.13 billion in 2024 to USD 7.41 billion by 2032, growing at a CAGR of 4.7% during the forecast period (2025-2032).
The global oil and gas pipeline fabrication and construction market is poised for growth, driven by increased natural gas consumption and the expansion of its pipeline network, particularly as natural gas remains a cost-effective energy source compared to other fossil fuels. The surge in manufacturing investments, alongside the evolving global economy, has intensified demand within the oil and gas sector. Key drivers include improved break-even points, rising energy needs, and technological advancements aimed at cost reduction. Factors such as increased oil production and exploration, along with a trend of mergers and acquisitions, further bolster the oil and gas fabrication market. However, the industry has faced challenges due to the Covid-19 pandemic, which significantly impacted consumption and pricing dynamics.
Top-down and bottom-up approaches were used to estimate and validate the size of the Global Oil And Gas Fabrication market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.
Global Oil And Gas Fabrication Market Segmental Analysis
Global Oil And Gas Fabrication Market is segmented by Fabrication, Structure, Upstream Sector, Downstream Sector, Material and region. Based on Fabrication, the market is segmented into Onshore Fabrication and Offshore Fabrication. Based on Structure, the market is segmented into Fixed Platforms, Semi-submersible Platforms, Jack-up Platforms and Floating Production Storage and Offloading (FPSO). Based on Upstream Sector, the market is segmented into Exploration and Production (E&P), Transportation and Storage. Based on Downstream Sector, the market is segmented into Refining, Petrochemicals and Liquefied Natural Gas (LNG). Based on Material, the market is segmented into Steel, Concrete and Composite Materials. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa.
Driver of the Global Oil And Gas Fabrication Market
The global oil and gas fabrication market is significantly driven by the rising demand for advanced technologies within the sector. The implementation of IoT-based solutions offers numerous advantages, such as enhanced communication in the field, lower maintenance expenditures, and real-time monitoring capabilities. Furthermore, these technologies enable the development of digital oil field infrastructures, reduce energy consumption, and bolster the safety and security of assets, ultimately leading to increased productivity. The integration of the Internet of Things (IoT) and advanced connectivity options presents exciting opportunities for reliable and cost-effective monitoring in upstream operations, further fueling market growth and innovation.
Restraints in the Global Oil And Gas Fabrication Market
The global oil and gas fabrication market faces significant restraints due to stringent regulations imposed across various regions. As global demand rises, the industry grapples with fluctuating prices while striving to navigate increasingly demanding environmental standards. This results in three primary challenges: the need to reduce operational costs, enhance the efficiency of industrial assets, and minimize environmental impacts. The sector is particularly affected by strict laws aimed at controlling the extensive use of water and energy resources, forcing companies to adapt their practices to comply with regulations while also addressing growing market expectations for sustainability and cost-effectiveness.
Market Trends of the Global Oil And Gas Fabrication Market
The global oil and gas fabrication market is poised for significant growth, driven by increased exploration activities and the expansion of manufacturing facilities worldwide. As energy demand rises and governments invest in infrastructure development, the need for advanced fabrication solutions becomes critical. Innovations in technology and automation further enhance efficiency, enabling companies to meet stringent safety and environmental regulations. Additionally, the ongoing transition towards renewable energy sources is prompting oil and gas companies to modernize and adapt their operations, creating new opportunities within the fabrication sector. This convergence of factors is set to fuel robust market expansion in the coming years.
Table of Contents
Introduction
Objectives of the Study
Scope of the Report
Definitions
Research Methodology
Information Procurement
Secondary & Primary Data Methods
Market Size Estimation
Market Assumptions & Limitations
Executive Summary
Global Market Outlook
Supply & Demand Trend Analysis
Segmental Opportunity Analysis
Market Dynamics & Outlook
Market Overview
Market Size
Market Dynamics
Drivers & Opportunities
Restraints & Challenges
Porters Analysis
Competitive rivalry
Threat of substitute
Bargaining power of buyers
Threat of new entrants
Bargaining power of suppliers
Key Market Insights
Key Success Factors
Degree of Competition
Top Investment Pockets
Market Ecosystem
Market Attractiveness Index, 2024
PESTEL Analysis
Macro-Economic Indicators
Value Chain Analysis
Pricing Analysis
Global Oil And Gas Fabrication Market Size by Fabrication & CAGR (2025-2032)
Market Overview
Onshore Fabrication
Offshore Fabrication
Global Oil And Gas Fabrication Market Size by Structure & CAGR (2025-2032)
Market Overview
Fixed Platforms
Semi-submersible Platforms
Jack-up Platforms
Floating Production Storage and Offloading (FPSO)
Global Oil And Gas Fabrication Market Size by Upstream Sector & CAGR (2025-2032)
Market Overview
Exploration and Production (E&P)
Transportation
Storage
Global Oil And Gas Fabrication Market Size by Downstream Sector & CAGR (2025-2032)
Market Overview
Refining, Petrochemicals
Liquefied Natural Gas (LNG)
Global Oil And Gas Fabrication Market Size by Material & CAGR (2025-2032)
Market Overview
Steel
Concrete
Composite Materials
Global Oil And Gas Fabrication Market Size & CAGR (2025-2032)
North America (Fabrication, Structure, Upstream Sector, Downstream Sector, Material)
US
Canada
Europe (Fabrication, Structure, Upstream Sector, Downstream Sector, Material)
Germany
Spain
France
UK
Italy
Rest of Europe
Asia Pacific (Fabrication, Structure, Upstream Sector, Downstream Sector, Material)
China
India
Japan
South Korea
Rest of Asia-Pacific
Latin America (Fabrication, Structure, Upstream Sector, Downstream Sector, Material)
Brazil
Rest of Latin America
Middle East & Africa (Fabrication, Structure, Upstream Sector, Downstream Sector, Material)
GCC Countries
South Africa
Rest of Middle East & Africa
Competitive Intelligence
Top 5 Player Comparison
Market Positioning of Key Players, 2024
Strategies Adopted by Key Market Players
Recent Developments in the Market
Company Market Share Analysis, 2024
Company Profiles of All Key Players
Company Details
Product Portfolio Analysis
Company's Segmental Share Analysis
Revenue Y-O-Y Comparison (2022-2024)
Key Company Profiles
McDermott International (USA)
Company Overview
Business Segment Overview
Financial Updates
Key Developments
Technip Energies (France) (formerly TechnipFMC)
Company Overview
Business Segment Overview
Financial Updates
Key Developments
Saipem S.p.A. (Italy)
Company Overview
Business Segment Overview
Financial Updates
Key Developments
Petrofac Limited (UK)
Company Overview
Business Segment Overview
Financial Updates
Key Developments
Larsen & Toubro (India)
Company Overview
Business Segment Overview
Financial Updates
Key Developments
National Petroleum Construction Company (NPCC) (UAE)
Company Overview
Business Segment Overview
Financial Updates
Key Developments
Hyundai Heavy Industries (South Korea)
Company Overview
Business Segment Overview
Financial Updates
Key Developments
Samsung Heavy Industries (South Korea)
Company Overview
Business Segment Overview
Financial Updates
Key Developments
Daewoo Shipbuilding & Marine Engineering (South Korea)