Oil Gas EPC Market Size, Share, Growth Analysis, By Contract (Fabrication and Equipment, Construction and Installation), By End User (Upstream, Midstream), By Application, By Region - Industry Forecast 2025-2032
Hyundai Engineering & Construction Co., Ltd.(South Korea)
Samsung Engineering Co., Ltd.(South Korea)
JGC Holdings Corporation(Japan)
Chiyoda Corporation(Japan)
SNC-Lavalin Group Inc.(Canada)
China National Petroleum Corporation(CNPC)(China)
Sinopec Group(China)
National Iranian Oil Company(NIOC)(Iran)
Saudi Aramco(Saudi Arabia)
Subsea 7 S.A.(Luxembourg)(specializes in offshore projects)
Petrofac Limited(UK)
Wood plc(UK)
KBR, Inc.(USA)
Worley Limited(Australia)
NPCC(National Petroleum Construction Company)(UAE)
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Global Oil Gas EPC Market size was valued at USD 197.3 billion in 2023 and is poised to grow from USD 208.15 billion in 2024 to USD 319.45 billion by 2032, growing at a CAGR of 5.5% during the forecast period (2025-2032).
The Engineering, Procurement, and Construction (EPC) sector is pivotal for the gas and oil industries, as companies rely on specialized EPC services for long-term infrastructure projects. These services streamline project execution by providing a single point of contact, minimizing risk, and enhancing communication for clients. The oil and gas sector has experienced significant transformation and is expected to continue evolving, with stakeholders focusing on increasing break-even points and leveraging innovative solutions to meet the growing global energy demand. The Oil and Gas EPC Market is being propelled by a surge in business agreements, technological advancements, and investments in new infrastructure. Additionally, government initiatives aimed at removing barriers are facilitating the progression of existing EPC projects while attracting new bids.
Top-down and bottom-up approaches were used to estimate and validate the size of the Global Oil Gas Epc 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 Gas Epc Market Segmental Analysis
Global Oil Gas EPC Market is segmented by Contract, End User, Application and region. Based on Contract, the market is segmented into Fabrication and Equipment, Construction and Installation, Management and Services and Others. Based on End User, the market is segmented into Upstream, Midstream and Downstream. Based on Application, the market is segmented into Onshore and Offshore. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa.
Driver of the Global Oil Gas Epc Market
The Global Oil and Gas EPC market is significantly driven by increasing industrialization and urbanization, which are elevating energy consumption levels worldwide. As various industries such as automotive, aerospace, manufacturing, and infrastructure experience substantial development opportunities, the demand for primary energy sources like oil and gas intensifies. This surge in energy needs necessitates higher oil and gas production to generate electricity and meet supply requirements. Consequently, countries rich in oil and gas resources are ramping up output, leading to heightened trading between producer and consumer nations. This dynamic propels the need for new pipelines and infrastructure, ultimately fostering growth in the global oil and gas sector.
Restraints in the Global Oil Gas Epc Market
The global Oil and Gas EPC market faces significant restraints due to the increasing adoption of renewable energy sources, which is reshaping the automotive industry. Sustainable alternatives like wind, solar, and geothermal energy have gained traction, posing a challenge to the ongoing reliance on fossil fuels. As investments in oil and gas become less viable in the long run, the rise of hybrid and electric vehicles is further complicating the landscape. The necessity for advanced battery technology, essential for harnessing and storing energy from renewables, adds to the barriers faced by the sector, thereby hindering its growth potential.
Market Trends of the Global Oil Gas Epc Market
The Global Oil Gas EPC market is witnessing a significant trend driven by governmental initiatives aimed at addressing hydrocarbon poverty, particularly in emerging nations. As OPEC and its allies commit to reducing oil production to ensure market stability and profitability, the focus shifts toward sustainable growth. The vital role of oil and gas in the economies of Gulf countries underscores the importance of this sector, prompting both public and private entities to intensify efforts in enhancing production capabilities. Consequently, this collaborative push for expansion in the EPC domain is poised to foster innovations and investments, shaping the future landscape of the industry.
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 Gas EPC Market Size by Contract & CAGR (2025-2032)
Market Overview
Fabrication and Equipment
Construction and Installation
Management and Services
Others
Global Oil Gas EPC Market Size by End User & CAGR (2025-2032)
Market Overview
Upstream
Midstream
Downstream
Global Oil Gas EPC Market Size by Application & CAGR (2025-2032)
Market Overview
Onshore
Offshore
Global Oil Gas EPC Market Size & CAGR (2025-2032)
North America (Contract, End User, Application)
US
Canada
Europe (Contract, End User, Application)
Germany
Spain
France
UK
Italy
Rest of Europe
Asia Pacific (Contract, End User, Application)
China
India
Japan
South Korea
Rest of Asia-Pacific
Latin America (Contract, End User, Application)
Brazil
Rest of Latin America
Middle East & Africa (Contract, End User, Application)
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
Saipem S.p.A. (Italy)
Company Overview
Business Segment Overview
Financial Updates
Key Developments
Technip Energies N.V. (Netherlands)
Company Overview
Business Segment Overview
Financial Updates
Key Developments
Fluor Corporation (USA)
Company Overview
Business Segment Overview
Financial Updates
Key Developments
Bechtel Corporation (USA)
Company Overview
Business Segment Overview
Financial Updates
Key Developments
Hyundai Engineering & Construction Co., Ltd. (South Korea)
Company Overview
Business Segment Overview
Financial Updates
Key Developments
Samsung Engineering Co., Ltd. (South Korea)
Company Overview
Business Segment Overview
Financial Updates
Key Developments
JGC Holdings Corporation (Japan)
Company Overview
Business Segment Overview
Financial Updates
Key Developments
Chiyoda Corporation (Japan)
Company Overview
Business Segment Overview
Financial Updates
Key Developments
SNC-Lavalin Group Inc. (Canada)
Company Overview
Business Segment Overview
Financial Updates
Key Developments
China National Petroleum Corporation (CNPC) (China)
Company Overview
Business Segment Overview
Financial Updates
Key Developments
Sinopec Group (China)
Company Overview
Business Segment Overview
Financial Updates
Key Developments
National Iranian Oil Company (NIOC) (Iran)
Company Overview
Business Segment Overview
Financial Updates
Key Developments
Saudi Aramco (Saudi Arabia)
Company Overview
Business Segment Overview
Financial Updates
Key Developments
Subsea 7 S.A. (Luxembourg) (specializes in offshore projects)
Company Overview
Business Segment Overview
Financial Updates
Key Developments
Petrofac Limited (UK)
Company Overview
Business Segment Overview
Financial Updates
Key Developments
Wood plc (UK)
Company Overview
Business Segment Overview
Financial Updates
Key Developments
KBR, Inc. (USA)
Company Overview
Business Segment Overview
Financial Updates
Key Developments
Worley Limited (Australia)
Company Overview
Business Segment Overview
Financial Updates
Key Developments
NPCC (National Petroleum Construction Company) (UAE)