(MENAFN- The Express Wire) Global Oil & Gas EPC Market Top Countries Data 2020 Industry Size, Share, Business Growth, Revenue, Trends, Market Demand Penetration and Forecast to By 360 Market Updates
Posted on Aug 9 2020 5:53 AM
""Global Oil & Gas EPC Market size"2020 has covered and analyzed the potential of Worldwide Oil & Gas EPC Industry and provides statistics and information on market dynamics, growth factors, key challenges, major drivers & restraints, opportunities and forecast. This report presents a comprehensive overview, market shares, and growth opportunities of Oil & Gas EPC market 2020 by product type, application, key manufacturers and key regions and countries.
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Global ' Oil & Gas EPC Market Report 2020 (value and volume) by company, regions, product types, end industries, history data and estimate data. Also, Report contains a comprehensive analysis of the important segments like market opportunities, import/export details, market dynamics, key manufacturers, growth rate, and key regions. This report focuses on the Oil & Gas EPC in the Global market, especially in the United States, Europe, China, Japan, South Korea, North America, India.Oil & Gas EPC Market report categorizes the market based on manufacturers, regions, type, and application. Oil & Gas EPC Market reports offer a detailed assessment of the Oil & Gas EPC including enabling technologies, current market situation, market assumptions, restraining factors.
The Global Oil & Gas EPC market swot is provided for the international markets including progress trends, competitive landscape breakdown, and key in regions development status. Development policies and plans are discussed as well as manufacturing processes and cost structures are also analyzed.
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In 2016, the global spending on oil and gas projects was about USD 437 billion, a decrease of nearly 41.7% when compared to that of 2014. Factors, such as a decline in the investments in oil and gas projects and cancellation of projects, worth USD 380 billion since 2014, have resulted in a severe downturn in the global oil & gas EPC market. As a result, it is tough to maintain the profit margins, which has fueled the level of competition between EPC contractors. Oil & gas EPC companies are partnering with seasoned companies to complement their skillset, increase strength and improve the overall business portfolio.
Increasing Demand for Oil & Gas Accelerates Growth
If the new projects are not approved, the global oil supply is expected to fall behind the global oil demand by 2020. Two scenarios can be considered due to this situation. Firstly, a majority of operating companies anticipate such situation and take the risk of investing in new projects, even if the oil prices are low; however until the prices rise, the companies can delay the production to prevent the oversupply. In this scenario, companies are expected to invest in exploration, so that the discovered oil reserves are utilized later when the oil & gas prices rise, resulting in the growth of upstream exploration contracts during the forecast period; while midstream and downstream contracts are expected to rise after 2020. The second scenario is that, if the majority of operating companies do not take the risk of investing in new projects due to low sustained oil prices, then the supply of oil and gas is expected to fall behind the demand, leading to a drastic rise in the oil prices. In this case, the oil & gas EPC contracts are expected to rise substantially during the forecast period. Therefore, in either case, the contracts in oil & gas sector are expected to increase within next five years. The low crude oil prices and lack of skilled labor are the major restraints for the growth of the global oil & gas EPC market.
Variable Effect of Oil Price on Upstream, Midstream and Downstream EPC Market
A decline in crude oil prices has led to a slump in the upstream oil & gas industry. On the other hand, it has had a variable effect on the downstream oil & gas industry based on geography. For instance, in Europe, the decline in crude oil prices has increased the profit margins for the downstream industry; while in the United States, the low oil prices have resulted in an oversupply of end-product in the downstream industry. This has led to the demand-supply deficit, which, in turn, has had an adverse effect on the US downstream oil & gas industry. The midstream oil & gas industry witnessed a sharp decline over the years, due to a decline in the volume of investments owing to the uncertainty of oil prices.
North America to Lead the Market
The North American upstream EPC market is expected to grow at a faster rate, due to the positive outlook of the oil & gas industry in the United States, Canada, and Mexico. Oil production in the United States is expected to grow, drastically, due to the growing production from the Permian region of Texas and the Federal Gulf of Mexico. Canada provides tremendous a growth opportunity for the oil & gas EPC market as the country's major oil reserves, like oil sand, are open to private companies and not controlled by national oil companies. Mexico is the third-largest player in the oil & gas EPC market in North America, after the United States and Canada. New oil & gas projects are expected to start in Mexico, due to the growing requirement for infrastructure development activities in the oil & gas industry. This factor is expected to fuel the market growth in Mexico. Hence, growth in the United States, exploration opportunity in Canada, and need to build infrastructure in Mexico are likely to drive the oil & gas EPC sector in North America in the coming years. Moreover, in Canada, the transparency in the oil & gas sector is expected to help in mitigating risks in EPC projects.
India to Drive the Global Oil Consumption Growth
In 2016, India accounted for about 4.6% of the global oil consumption and registered a CAGR of nearly 8% for oil consumption during 2014-2016. Industrial growth, urbanization, growing population, and increasing per capita income are the major drivers fueling the demand for Indian oil. India is expected to be a major source for the global oil & gas demand during the forecast period. This demand is expected to drive the global oil & gas investments, thus, driving the oil & gas EPC market.
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The global Oil & Gas EPC market covers the vision of participant analysis by product types, market share, applications, sales, and revenue.
Oil & Gas EPC Market Report covers the Top Key-players in 2020:-
- TechnipFmc Plc
- Bechtel Corporation
- Samsung Engineering Co.
- Ltd
- Saipem SPA
- National Petroleum Construction Company
- McDermott International
- Inc.
- KBR Inc.
- Jacobs Engineering Group Inc.
- Hyundai Heavy Industries Co. Ltd.
- Hyundai Engineering & Construction Co. Ltd.
- Fluor Corporation
- Daewoo Engineering & Construction Co. Ltd.
- CNGS Group
- Hexa Oil & Gas Services Llc
- Stroytransgaz
Highlighted points of Oil & Gas EPC Market Size:
- Covers the varying market dynamics of the industry.
- In-depth analysis of market risks, opportunities, limitations, and growth of the market.
- Includes market driving and restraining factors.
- Participants profiles along with product description, overview, and business data.
- Include details of five years of forecast analysis by types, regions, and applications.
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This Oil & Gas EPC Market Research/analysis Report Contains Answers to your following Questions
- Which Manufacturing Technology is Used for Oil & Gas EPC? What Developments Are Going On in That Technology? Which Trends Are Causing These Developments?
- Who Are the Global Key Players in This Oil & Gas EPC Market? What's Their Company Profile, Their Product Information, Contact Information?
- What Was Global Market Status of Oil & Gas EPC Market? What Was Capacity, Production Value, Cost and PROFIT of Oil & Gas EPC Market?
- What Is Current Market Status of Oil & Gas EPC Industry? What's Market Competition in This Industry, Both Company, and Country Wise? What's Market Analysis of Oil & Gas EPC Market by Taking Applications and Types in Consideration?
- What Are Projections of Global Oil & Gas EPC Industry Considering Capacity, Production and Production Value? What Will Be the Estimation of Cost and Profit? What Will Be Market Share, Supply and Consumption? What About Import and Export?
- What Is Oil & Gas EPC Market Chain Analysis by Upstream Raw Materials and Downstream Industry?
- What Is Economic Impact On Oil & Gas EPC Industry? What are Global Macroeconomic Environment Analysis Results? What Are Global Macroeconomic Environment Development Trends?
- What Are Market Dynamics of Oil & Gas EPC Market? What Are Challenges and Opportunities?
- What Should Be Entry Strategies, Countermeasures to Economic Impact, Marketing Channels for Oil & Gas EPC Industry?
Key Developments in the Oil & Gas EPC Market:
Reasons to Purchase this Report
- The drivers, restraints, and opportunities affecting the upstream, midstream, and downstream oil & gas EPC market
- The strategies of the major oil & gas companies and oil-producing countries and their effect on the market
- Various market perspectives, with the help of Porter's five forces analysis
- The end-user industry expected to dominate the market
- The regions expected to witness the fastest growth rates during the forecast period
- The latest developments, market shares, and strategies that are employed by the major market players
- 3 months analyst support, along with the Market Estimate sheet (in excel).
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Finally, the report Global Oil & Gas EPC Market 2020 describes the Oil & Gas EPC industry expansion game plan, the Oil & Gas EPC industry knowledge supply, appendix, analysis findings, and the conclusion.
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