“Oil & Gas EPC Market Report 2019-2023” helps the consumer to take business decisions and to understand strategies of major players in the industry. The report also calls for market-determined results deriving feasibility survey for consumer needs. Global Oil & Gas EPC Market Report ensures qualified and verifiable aspects of market data operating in the real-time scenario. The analytical studies are conducted ensuring consumer needs with a complete understanding of market capacities in the real-time scenario.
Top Listed Players in Oil & Gas EPC Market Research Report 2019-2023:
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Oil & Gas EPC market reports provide a comprehensive overview of the worldwide market size and share. Oil & Gas EPC market data reports also provide a 5-year historic, forecast for the sector, and include data on social-economic data of global. Key stakeholders can consider statistics, tables & figures mentioned in this report for strategic planning which lead to success of the organization.
Overview of Oil & Gas EPC Market Report:
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. As a result, it is tough to maintain the profit margins, which has fueled the level of competition between EPC contractors. Oil & gas EPC companies are partnering with seasoned companies to complement their skillset, increase strength and improve the overall business portfolio.
Increasing Demand for Oil & Gas Accelerates Growth
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. In this scenario, companies are expected to invest in exploration, so that the discovered oil reserves are utilized later when the oil & gas prices rise, resulting in the growth of upstream exploration contracts during the forecast period; while midstream and downstream contracts are expected to rise after 2020. The second scenario is that, if the majority of operating companies do not take the risk of investing in new projects due to low sustained oil prices, then the supply of oil and gas is expected to fall behind the demand, leading to a drastic rise in the oil prices. In this case, the oil & gas EPC contracts are expected to rise substantially during the forecast period. Therefore, in either case, the contracts in oil & gas sector are expected to increase within next five years. The low crude oil prices and lack of skilled labor are the major restraints for the growth of the global oil & gas EPC market.
Variable Effect of Oil Price on Upstream, Midstream and Downstream EPC Market
A decline in crude oil prices has led to a slump in the upstream oil & gas industry. On the other hand, it has had a variable effect on the downstream oil & gas industry based on geography. For instance, in Europe, the decline in crude oil prices has increased the profit margins for the downstream industry; while in the United States, the low oil prices have resulted in an oversupply of end-product in the downstream industry. This has led to the demand-supply deficit, which, in turn, has had an adverse effect on the US downstream oil & gas industry. The midstream oil & gas industry witnessed a sharp decline over the years, due to a decline in the volume of investments owing to the uncertainty of oil prices.
North America to Lead the Market
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 countrys major oil reserves, like oil sand, are open to private companies and not controlled by national oil companies. Mexico is the third-largest player in the oil & gas EPC market in North America, after the United States and Canada. New oil & gas projects are expected to start in Mexico, due to the growing requirement for infrastructure development activities in the oil & gas industry. This factor is expected to fuel the market growth in Mexico. Hence, growth in the United States, exploration opportunity in Canada, and need to build infrastructure in Mexico are likely to drive the oil & gas EPC sector in North America in the coming years. Moreover, in Canada, the transparency in the oil & gas sector is expected to help in mitigating risks in EPC projects.
India to Drive the Global Oil Consumption Growth
In 2016, India accounted for about 4.6% of the global oil consumption and registered a CAGR of nearly 8% for oil consumption during 2014-2016. Industrial growth, urbanization, growing population, and increasing per capita income are the major drivers fueling the demand for Indian oil. India is expected to be a major source for the global oil & gas demand during the forecast period. This demand is expected to drive the global oil & gas investments, thus, driving the oil & gas EPC market.
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Valuable Points from Oil & Gas EPC Market Research Report 2019-2023:
- A complete background analysis, which includes a valuation of the parental Oil & Gas EPC Market.
- Significant changes in Market dynamics.
- Oil & Gas EPC Market segmentation according to Top Regions.
- Current, Historical, and projected the size of the Oil & Gas EPC Market from the viewpoint of both value and volume.
- Reporting and assessment of recent industry developments.
- Oil & Gas EPC Market shares and strategies of key Manufacturers.
- Emerging Specific segments and regional for Oil & Gas EPC Market.
- An objective valuation of the trajectory of the Market.
- Recommendations to Top Companies for reinforcement their foothold in the market.
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Highlights of the following key factors:
- Business description-A detailed description of the company’s operations and business divisions.
- Corporate strategy –Analyst’s summarization of the company’s business strategy.
- SWOT Analysis-A detailed analysis of the company’s strengths, weakness, opportunities, and threats.
- Company history –Progression of key events associated with the company.
- Major products and services-A list of major products, services, and brands of the company.
- Key competitors –A list of key competitors to the company.
- Important locations and subsidiaries –A list and contact details of key locations and subsidiaries of the company.
- Detailed financial ratios for the past five years –The latest financial ratios derived from the annual financial statements published by the company with 5 years history.
Top Most Regions Covered In Oil & Gas EPC Market Research Report 2019-2023:
- North America (the USA, Canada, and Mexico)
- Europe (Germany, France, UK, Russia, and Italy)
- Asia-Pacific (China, Japan, Korea, India, and Southeast Asia)
- South America, Middle East, and Africa
Conclusively, this report will provide you a clear view of each facet of the market without a need to refer to any other research report or a data source. Our report will provide you with all the facts about the past, present, and future of the concerned Market.
Mr. Ajay More
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