Oil & Gas EPCCompanies (2024 - 2029)

Oil & Gas EPC Market Companies Summary

The Oil & Gas EPC market is anticipated to see significant growth in the medium term, largely driven by the increasing demand for oil and gas, rising consumption of natural gas, and the need for development in natural gas infrastructure. Additionally, the increase in offshore oil and gas exploration and production activities is expected to boost the market. However, the market may face challenges due to the high volatility of oil and gas prices. Despite this, the discovery of new oil and gas fields in various countries is expected to create ample opportunities for the oil and gas EPC market across all sectors - upstream, midstream, and downstream. The EPC in the upstream oil and gas sector, which includes both onshore and offshore exploration and production-related services, is expected to dominate the market. Investment in the offshore segment has increased over the past decade due to maturing onshore fields. The EPC services for offshore installations, such as design, fabrication, installation, commissioning, and start-up of various facilities, are gaining traction. Furthermore, the Asia-Pacific region is expected to witness significant growth due to increasing demand for natural gas and upcoming LNG facilities, which will result in a massive demand for EPC services.