According to a recent report by Yahoo, the global oil and gas EPC (engineering, procurement, and construction) industry is expected to grow significantly by 2028, reaching a market value of $65.6 billion. The report highlights the versatility of EPC services, which encompass a broad range of activities, from conceptual design and supply chain management to construction and commissioning. With increasing demand for energy and potential growth opportunities in emerging markets, the oil and gas EPC industry is poised for continued expansion in the years ahead.
1. The global oil and gas EPC industry is projected to reach a market value of $65.6 billion by 2028.
2. The industry is experiencing significant growth due to increasing demand for oil and gas infrastructure development.
3. Versatile EPC companies that offer turnkey solutions will play a crucial role in meeting the demand and capitalizing on opportunities in the expanding oil and gas market.
4. The range of activities in the EPC industry includes conceptual design, supply chain management, construction, and commissioning.
5. The industry is expected to continue expanding in the coming years, driven by increasing energy demand and growth opportunities in emerging markets.
The global oil and gas EPC industry is projected to grow at a CAGR of 4.6% from 2021 to 2028.
The global oil and gas EPC industry is projected to experience substantial growth, with a market value reaching $65.6 billion by 2028, according to the latest report by Yahoo. This surge can be attributed to the increasing demand for oil and gas infrastructure development across the globe. With rapid urbanization and industrialization, the need for efficient engineering, procurement, and construction services in this sector has become paramount. Versatile EPC companies, equipped with expertise in delivering turnkey solutions, are poised to play a crucial role in meeting these demands and capitalizing on the lucrative opportunities presented by the expanding oil and gas market.