DUBLIN--(BUSINESS WIRE)--The "Global Oil & Gas EPC Market - Analysis of Growth, Trends and Forecasts (2018 - 2023)" report has been added to ResearchAndMarkets.com's offering.
In 2016, the global spending on oil and gas projects was about USD 437 billion, a decrease of nearly 41.7% when compared to that of 2014. Factors, such as a decline in the investments in oil and gas projects and cancellation of projects, worth USD 380 billion since 2014, have resulted in a severe downturn in the global oil & gas EPC market.
If the new projects are not approved, the global oil supply is expected to fall behind the global oil demand by 2020. Two scenarios can be considered due to this situation. Firstly, a majority of operating companies anticipate such situation and take the risk of investing in new projects, even if the oil prices are low; however until the prices rise, the companies can delay the production to prevent the oversupply.
The North American upstream EPC market is expected to grow at a faster rate, due to the positive outlook of the oil & gas industry in the United States, Canada, and Mexico. Oil production in the United States is expected to grow, drastically, due to the growing production from the Permian region of Texas and the Federal Gulf of Mexico. Canada provides tremendous a growth opportunity for the oil & gas EPC market as the country's major oil reserves, like oil sand, are open to private companies and not controlled by national oil companies.
- TechnipFmc Plc
- Bechtel Corporation
- Samsung Engineering Co. LTD
- Saipem SPA
- National Petroleum Construction Company
- McDermott International Inc.
- KBR Inc.
- Jacobs Engineering Group Inc.
- Hyundai Heavy Industries Co. Ltd.
- Hyundai Engineering & Construction Co. Ltd.
- Fluor Corporation
- Daewoo Engineering & Construction Co. Ltd.
- CNGS Group
- Hexa Oil & Gas Services Llc
Key Topics Covered:
1. Executive Summary
2. Research Methodology
3. Market Overview
4. Market Dynamics
5. Supply Chain Analysis
6. Global Oil & Gas EPC Market Analysis, by Sector
7. Global Oil & Gas EPC Market Analysis, by Geography
8. Key Company Analysis
9. Competitive Landscape
For more information about this report visit https://www.researchandmarkets.com/research/df282l/global_oil_and?w=4