Demand For EPC Services Is Expected To Rise During The Forecast Period (2022-2032)

(MENAFN- Ameliorate Digital Consultancy) The EPC (Engineering, Procurement, and Construction) market refers to the business of designing, procuring, and constructing large-scale infrastructure projects such as power plants, oil and gas facilities, roads and highways, and buildings. EPC contractors provide a turnkey solution to clients, handling all aspects of the project from the initial design phase to the final construction and commissioning. The EPC market is a highly competitive and complex industry that requires significant engineering and technical expertise. The market includes a wide range of players, including engineering and design firms, equipment suppliers, construction contractors, and project management companies.

The EPC market is driven by a range of factors, including increasing demand for infrastructure development in emerging economies, growing investments in renewable energy projects, and the need for modernization and upgrading of existing infrastructure in developed economies. In recent years, there has been a shift towards more sustainable and environmentally friendly infrastructure projects, which has led to an increase in demand for EPC contractors with expertise in renewable energy projects such as wind, solar, and hydroelectric power plants.

The EPC market is also impacted by geopolitical factors such as trade disputes, political instability, and regulatory changes. Changes in government policies and regulations can significantly impact the market, as they can affect the availability of funding, project timelines, and the viability of certain projects. Overall, the EPC market is expected to continue to grow as the demand for infrastructure development and modernization continues to increase globally. The market is highly competitive, and companies are focusing on developing their engineering and technical capabilities, expanding their global footprint, and adopting new technologies to stay ahead of the competition.

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Key findings of the EPC market study:

  • The report provides a present market outlook on EPC. Additionally, the EPC market share is anticipated to grow with a CAGR of 5.7% in the forecast period.
  • Regional breakdown of the EPC market based on predefined taxonomy.
  • Innovative manufacturing processes implemented by EPC vendors in detail.
  • Region-wise and country-wise fragmentation of the EPC market to grasp the revenue, and growth outlook in these areas.
  • Changing preferences among consumers across various regions and countries.
  • Factors (Positive and Negative) impacting the growth of the global EPC market.
  • EPC price, market share, and Trends forecast for assessment period 2022-2032

Competitive landscape analysis

The report offers in-depth insights into competition prevailing in the market. It profiles companies in terms of tier 1, tier 2, and tier 3. Growth prospects for companies belonging to each of these tiers are studied in detail.

The survey also includes company share analysis to evaluate share held by these companies, respectively. It also underscores some of the winning strategies adopted by the market players. The impact of government regulations on strategies adopted by the market players are evaluated in details.

Some of the leading companies operating in the market are :

  • Bechtel
  • Hyundai Engineering & Construction
  • Fluor
  • Technip FMC
  • Saipem
  • Bilfinger
  • Petrofac
  • Técnicas Reunidas
  • KBR
  • Samsung Engineering
  • SK Engineering & construction
  • Daewoo Engineering & Construction Co., Ltd.
  • Daelim Industrial
  • GS Engineering & Construction Corporation
  • Wood, Plc

Why is Demand for EPC Services Increasing in the United States?

The demand for EPC (Engineering, Procurement, and Construction) services in the United States is increasing due to several factors, including:

  • Infrastructure development: The United States has a large and aging infrastructure, and there is a growing need for infrastructure development and modernization. EPC contractors play a critical role in designing and constructing infrastructure projects such as roads, bridges, airports, and water treatment plants.
  • Investment in renewable energy: The United States is making significant investments in renewable energy projects such as wind, solar, and hydroelectric power plants. EPC contractors with expertise in renewable energy projects are in high demand as the country seeks to transition to a more sustainable energy future.
  • Shale gas boom: The shale gas boom in the United States has led to a significant increase in the construction of natural gas processing plants, pipelines, and related infrastructure. EPC contractors with expertise in these types of projects are in high demand as the country seeks to capitalize on its abundant natural gas resources.
  • Industrial manufacturing: The United States is a major manufacturer of goods, and there is a growing demand for EPC services in the industrial manufacturing sector. EPC contractors play a critical role in designing and constructing manufacturing facilities and related infrastructure.
  • Public-private partnerships: The United States is increasingly turning to public-private partnerships (PPP) to finance and construct infrastructure projects. EPC contractors are well-positioned to participate in PPP projects, as they have the technical expertise and project management skills needed to deliver complex infrastructure projects.

    Overall, the demand for EPC services in the United States is expected to continue to grow as the country seeks to modernize its infrastructure, transition to renewable energy, and capitalize on its abundant natural resources.

    What insights does the EPC report provide to the readers?

    • EPC fragmentation on the basis of product type, end use, and region.
    • Comprehensive assessment of upstream starting materials, downstream demand, and present market landscape.
    • Collaborations, R&D projects, acquisitions, and product launches of each EPC
    • Various regulations imposed by the governments on the consumption of EPC in detail.

    Segmentation of EPC Industry Survey

    • By End-use Industry :
      • Power
      • Oil & Gas
      • Energy
      • Roads & Bridges
      • Railways
      • Ports, Airports, and Inland Water Transport
      • Building Construction
      • Telecom
      • Utilities
      • Others (Not Covered Elsewhere)
    • By Region :
      • North America
      • Latin America
      • Europe
      • East Asia
      • South Asia & Oceania
      • Middle East & Africa

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