Market Size of Oil & Gas EPC Industry
| Study Period | 2020 - 2029 |
| Market Size (2024) | USD 456.91 Billion |
| Market Size (2029) | USD 576.52 Billion |
| CAGR (2024 - 2029) | 4.76 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | Asia-Pacific |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Oil and Gas EPC Market Analysis
The Oil & Gas EPC Market size is estimated at USD 456.91 billion in 2024, and is expected to reach USD 576.52 billion by 2029, growing at a CAGR of 4.76% during the forecast period (2024-2029).
- Over the medium term, the growing demand for oil & gas and the rising consumption of natural gas, which is creating a need to develop the natural gas infrastructure, and an increase in offshore oil and gas exploration and production (E&P) activities are also expected to drive the growth of the market studied.
- On the other hand, the high volatility of oil and gas prices is one of the major restraints for the oil and gas EPC market.
- Nevertheless, the discovry of new oil and gas fields in various countries are exoected to create ample opportunities for the oil and gas EPC market for all the upstream, midstream, and downstream sectors during the forecast period.
- The Asia-Pacific region dominates the market and is also likely to witness significant growth during the forecast period. This growth is attributed to the increasing demand for natural gas and upcoming LNG facilities resulting in massive demand for EPC services.
