Global Oil and Gas EPC Market Research and Forecast Report 2022-2027
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Author: Elena Anderson, Marketing Manager | Copyright © IMARC Service Pvt Ltd. All Rights Reserved IMARC Group
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Report Description and Highlights Report Description Global Oil and Gas EPC Market Research Report: According to the latest report by IMARC Group, titled “ Oil and Gas EPC Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 20222027 ” the global oil and gas EPC market reached a strong growth in 2021. Oil and gas, engineering, procurement, and construction (EPC) is a contract-based model that delivers skilled labor and other resources to complete infrastructure projects. Oil and gas companies rely on EPC contractors to design layouts, carry out the onsite assembly and functional testing, procure equipment material, and manufacture systems. EPC contractors also specialize in developing plans for aboveground storage tanks, power generation, environmental controls, natural gas processing facilities, industrial power distribution, and material handling. Request Free Sample Report: https://www.imarcgroup.com/oil-gas-epc-market/requestsample
Report Description and Highlights Report Description Global Oil and Gas EPC Market Trends : The market is primarily driven by the expanding oil and gas industry across the globe as several countries are making investments to explore new oilfield reserves to cater to the rising demand for oil and gas. In addition, favorable initiatives introduced by the governments of numerous countries to generate electricity from renewable resources represent another major growth-inducing factor. Besides this, the market is further propelled by various technological advancements, such as the integration of the Internet of Things (IoT). Moreover, the rising adoption of oil and gas EPC in the upstream sector on account of various benefits, such as enhanced accessibility to sites and lower investments and risks, is also contributing to the market growth. Furthermore, the rapidly expanding automotive industry, the growing consumption of petroleum products, and the implementation of government initiatives to promote the oil and gas projects are some of the other factors anticipated to propel the market growth in the coming years. Looking forward, the market value is projected to reach a strong growth during the forecast period (2022-2027).
Report Description and Highlights Report Description Market Summary: Breakup by Sector: • Upstream • Midstream • Downstream Breakup by Service Type: • Engineering • Procurement • Construction • Fabrication Breakup by Location: • Onshore • Offshore Breakup by Region: • North America • United States
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Competitive Landscape with Key Players: Fluor Corporation Hyundai Heavy Industries Co. Ltd. John Wood Group PLC KBR Inc. Larsen & Toubro Limited McDermott International Ltd. National Petroleum Construction Company Petrofac Limited Saipem S.p.A. (Eni S.p.A.) Samsung Engineering Co. Ltd. TechnipFMC plc Técnicas Reunidas S. A. • WorleyParsons Limited. View Full Report with TOC & List of Figure: https://www.imarcgroup.com/oil-gas-epc-market
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