U.S. Oil & Gas EPC Market Size, Share & Industry Analysis
商品番号：SMB-71186
| 出版社 | Fortune Business Insights |
| 出版年月 | 2024年12月 |
| ページ数 | 90 |
| 価格タイプ | シングルユーザライセンス |
| 価格 | USD 4,850 |
| 種別 | 英文調査報告書 |
Growth Factors of U.S. Oil & Gas EPC Market
The U.S. oil & gas EPC market size was valued at USD 13.54 billion in 2023, and is estimated to grow from USD 14.23 billion in 2024 to USD 22.42 billion by 2032, exhibiting a CAGR of 5.84% during the forecast period.
米国の石油・ガス EPC 市場規模は 2023 年に 135 億 4000 万米ドルと評価され、2024 年の 142 億 3000 万米ドルから 2032 年までに 224 億 2000 万米ドルに成長すると推定されており、予測期間中に 5.84% の CAGR を示します。
With an upward trajectory projected in the coming years, the market is anticipating astonishing results in the U.S. This growth is relied on EPC organizations as they are instrumental in managing comprehensive project delivery from design through to construction and procurement. With the U.S. government’s laser focus on domestic energy generation and infrastructure upgrades, the demand for EPC services is bound to propel.
Lately, the U.S. is injecting funds in natural gas infrastructure for improving energy security while reducing carbon emissions. This financial support can be observed with projects such as the Mountain Valley Pipeline (MVP), a 303-mile interstate natural gas pipeline system. This project is worth USD 6 billion which underscores the scale and complexity of infrastructure projects, whilst increasing the demand for EPC services.
The streamlined approach of the EPC model where project execution and centralizing management is done under a single contractor reduces client risk and improves project efficiency. As the U.S. government continues to focus on domestic energy production and infrastructure upgrades, the demand for EPC services is expected to grow. The Petra Nova project in Texas is a prime example which showcases stern environmental policies shaping the EPC landscape.
The U.S. has catapulted its growth in shale gas production with market leaders making substantial investments to address the augmented demand for oil & gas. As per the American Petroleum Institute (API), private investment will cross USD 1.34 trillion till 2035 in natural gas and oil infrastructure. In this gigantic investment a notable portion will be allocated for the expansion of natural gas infrastructure.
Another major reason for the U.S. oil & gas EPC market growth is the surge in offshore exploration and production of oil and gas activities. These initiatives are powered by cutting-edge technology, some of which include the subsea processing and enhanced oil recovery techniques. The Bureau of Ocean Energy Management (BOEM) has been active in auctioning offshore drilling rights, paving the way for new endeavors in the EPC market.
Comprehensive Analysis of U.S. Oil & Gas EPC Market
With the largest U.S. oil & gas EPC market share of 56.34% in 2023, upstream is the leading end-user. Upstream segment’s growth is reflected in the substantial investments for drilling, field equipment, and expansion on gas fields. Midstream and downstream are other end-users focusing on storage and transportation and covering processing and marketing respectively.
Construction & installation encompasses the installation of platforms, pipes, and other critical infrastructure. The segment’s prominent position is backed by the development of oil & gas fields. Further the contract type includes fabrication & equipment, management services, and others. Onshore and offshore are major applications, where onshore projects remain traditional, supported by investments in the reclamation and modernization of facilities. Meanwhile, offshore investments are increasing with advancements in deep-water drilling and floating production systems.
The oil & gas EPC market in the U.S. witnesses the presence of numerous medium and large players delivering diverse products and services. The market’s fragmented nature can be observed with the highly competitive landscape. Companies are keenly focused on new-age technology and are joining forces to cement market presence while catering to the evolving needs. This dynamic environment reflects the sector’s commitment to innovation and efficiency in infrastructure development.
Shell formalized a three-year EFA with Wood in August 2023 to extend its support for Shell’s global projects. This partnership will focus on energy security and energy transition initiatives, including carbon capture, low-carbon fuels, and hydrogen. Under this agreement, Wood will deploy its expertise in decarbonization, digitalization, and asset life extension across North America, Europe, Latin America, Southeast Asia, Australia, and the Middle East.
Leading industry figures are crucial in the evolution of the U.S oil & gas EPC market and establishing industry benchmarks. Among them, John Wood Group PLC (U.K.), Petrofac Limited (U.K.), Worley (Australia), Fluor Corporation (U.S.), Bechtel Corporation (U.S.), Aker Solutions (Norway), SLB (U.S.), KBR (U.S.), TechnipFMC (U.K.), Larsen & Toubro Ltd (L&T) (India), are essential for ensuring equitable competition and promoting a balanced market framework.
Nacero engaged Bechtel in May 2021 to undertake the Front-End Engineering and Design (FEED) for a pioneering natural gas-to-gasoline manufacturing facility in the U.S. This facility will be the world’s first gasoline manufacturing unit to integrate carbon capture, sequestration, and operate entirely on renewable power. The designed capacity of 115,000 barrels per day marks a significant advancement in sustainable fuel production.
Segmentation Table
U.S. Oil & Gas EPC Market Scope
Study Period 2019-2032
Base Year 2023
Forecast Period 2024-2032
Historical Period 2019-2022
Growth Rate CAGR of 5.84% from 2024 to 2032
Unit Value (USD Billion)
Segmentation By Contract Type, End-User, and Application
Segmentation By Contract Type
- Fabrication & Equipment
- Construction & Installation
- Management Services
- Others
By End-User
- Upstream
- Midstream
- Downstream
By Application
- Onshore
- Offshore
Table of Contents
1. Introduction
1.1. Research Scope
1.2. Market Segmentation
1.3. Research Methodology
1.4. Definitions & Assumptions
2. Executive Summary
3. Market Dynamics
3.1. Market Drivers
3.2. Market Restraints
3.3. Market Opportunities
4. Key Insights
4.1. Key Emerging Trends
4.2. Latest Technological Advancement
4.3. Insight on Regulatory Landscape
4.4. Porters Five Forces Analysis
4.5. Impact of COVID-19 on the Oil & Gas EPC Market
5. U.S. Oil & Gas EPC Market (USD billion) Analysis, Insights, and Forecast, 2019-2032
5.1. Key Findings
5.2. Market Analysis, Insights, and Forecast – By Contract Type
5.2.1. Fabrication & Equipment
5.2.2. Construction & Installation
5.2.3. Management Services
5.2.4. Others
5.3. Market Analysis, Insights, and Forecast – By End-User
5.3.1. Upstream
5.3.2. Midstream
5.3.3. Downstream
5.4. Market Analysis, Insights, and Forecast – By Application
5.4.1. Onshore
5.4.2. Offshore
6. Competitive Analysis
6.1. Company Market Share Analysis, 2023
6.2. Company Profile
6.2.1. John Wood Group PLC
6.2.1.1. Business Overview
6.2.1.2. Product and Service Offerings
6.2.1.3. Recent Developments
6.2.1.4. Financials (Based on Availability)
6.2.2. Petrofac Limited
6.2.2.1. Business Overview
6.2.2.2. Product and Service Offerings
6.2.2.3. Recent Developments
6.2.2.4. Financials (Based on Availability)
6.2.3. Worley
6.2.3.1. Business Overview
6.2.3.2. Product and Service Offerings
6.2.3.3. Recent Developments
6.2.3.4. Financials (Based on Availability)
6.2.4. Flour Corporation
6.2.4.1. Business Overview
6.2.4.2. Product and Service Offerings
6.2.4.3. Recent Developments
6.2.4.4. Financials (Based on Availability)
6.2.5. Bechtel Corporation
6.2.5.1. Business Overview
6.2.5.2. Product and Service Offerings
6.2.5.3. Recent Developments
6.2.5.4. Financials (Based on Availability)
6.2.6. Aker Solutions
6.2.6.1. Business Overview
6.2.6.2. Product and Service Offerings
6.2.6.3. Recent Developments
6.2.6.4. Financials (Based on Availability)
6.2.7. SLB
6.2.7.1. Business Overview
6.2.7.2. Product and Service Offerings
6.2.7.3. Recent Developments
6.2.7.4. Financials (Based on Availability)
6.2.8. KBR
6.2.8.1. Business Overview
6.2.8.2. Product and Service Offerings
6.2.8.3. Recent Developments
6.2.8.4. Financials (Based on Availability)
6.2.9. TechnipFMC
6.2.9.1. Business Overview
6.2.9.2. Product and Service Offerings
6.2.9.3. Recent Developments
6.2.9.4. Financials (Based on Availability)
6.2.10. Larsen & Toubro Ltd
6.2.10.1. Business Overview
6.2.10.2. Product and Service Offerings
6.2.10.3. Recent Developments
6.2.10.4. Financials (Based on Availability)
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