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Global EPC and EPCM Services Market to Post a Steady 4.5% Growth Rate until 2020: TechnavioThe global engineering procurement construction (EPC) and engineering procurement construction management (EPCM) services market is expected to grow consistently at a CAGR of 4.5% during the forecast period, according to Technavio's category spend intelligence researchers. This report covers the market outlook and growth prospects of the global EPC and EPCM services market for 2016-2020. The report also labels Vinci SA, ACS (News - Alert) Group, Bechtel Corporation, Bouygues SA, and HOCHTIEF as the top five suppliers in the market and outlines a far-reaching analysis of their market dominance. Angad Singh, a category specialist, says, "The global EPC and EPCM service industry has grown moderately over the past five years and is expected to grow at a similar rate over the next 2-3 years due to an increase in investments from developing countries in sectors such as infrastructure, industrial, and building construction." Huge investments in the energy and mining sectors are driving the demand for EPCM services, as the complexities and high spend associated with projects is prompting buyers to engage with EPCM service providers for the management of their projects. Over the next 5-10 years, an estimated investment of USD 500 billion is required for oil and gas-related infrastructure in the US alone. Request a sample report: http://www.technavio.com/request-a-sample?report=52889 Technavio's new market intelligence sample reports are free of charge and contain multiple sections of the report including the market size and forecast, drivers, challenges, trends, and more. The report segments the global EPC and EPCM market into the following key regions:
Category spend on EPC and EPCM services by geography 2015 (USD 1.33 trillion)
Source (News - Alert): Technavio Additional Technavio Insights: Drivers and Challenges of the EPC and EPCM Services Market APAC accounted for more than 40% of the total revenue generated by the global EPC and EPCM service market in 2015, and this is likely to grow due to the substantial investments made by developing economies, especially China and India, in infrastructure, and industrial and building construction. In fact, the rapid growth of the construction market in China is expected to be double the size of the US market by 2025. The Americas is the second largest market in the global EPC and EPCM, with the US accounting for more than 20% of the market's revenue in 2015. This can be attributed to the increase in construction activities in the region. In Latin America, the demand for the services of EPC and EPCM contractors is expected to grow at a rate of more than 4% Y-o-Y due to increase in mining and resource extraction activities, specifically in Chile and Colombia. In the EU, utility-scale solar projects are the focus of the EPC sector. Buyers and developers of EPC projects in Europe are becoming increasingly aware of eco-friendly elements, such as environmental engineering and techniques, air pollution control systems, and measures that can reduce carbon footprint and emissions. The EPC and EPCM market in the Middle East and North Africa still needs to catch up with the rest of world. The region occupied a market share of about 8% in 2015, mainly driven by oil, gas, and petrochemicals projects. Browse Related Reports:
Do you need a report on a market in a specific geographical cluster or country but can't find what you're looking for? Don't worry, Technavio also takes client requests. Please contact [email protected] with your requirements and our analysts will be happy to create a customized report just for you. About Technavio Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies. Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users. If you are interested in more information, please contact our media team at [email protected]. View source version on businesswire.com: http://www.businesswire.com/news/home/20160928005979/en/ |
