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EPC Market

EPC Market Size, Share, Competitive Landscape and Trend Analysis Report by Type, Power Generation, Equipment and Application: Global Opportunity and Industry Forecast (2024-2030)

Report ID:

1070

Industry:

FMCG

Published on:

Oct 2025

EPC Market had a value of USD 837.78 Billion in 2024 and expected it to hit USD 1012.07 Billion by 2030, with a CAGR of 3.20% during the forecast period (2024-2030).


EPC Market Overview

The global EPC Market was valued at USD 346.9 Billion in 2024. The market is expected to grow at a CAGR of 3.20% during the forecast period and is expected to reach nearly USD 1012.07 Billion by 2030. The global Engineering, Procurement, and Construction (EPC) market is a key driver of international infrastructure and industrial development, with large-scale and complex projects covering multiple sectors. Despite its critical role, the EPC industry has historically been regarded as one of the least digitised in the globe, though a significant shift is underway, with 77% of EPC company CEOs planning to adopt Fourth Industrial Revolution (4IR) technologies even before the COVID-19 pandemic accelerated the need for rapid digitization.

Government-led investments in transportation infrastructure, renewable energy, and public utilities are critical growth drivers, particularly in Asia-Pacific, the Middle East, and North Africa. For example, in February 2023, the United States Infrastructure Investment and Jobs Act provided USD 1.2 trillion to construct roads, bridges, and electricity grids, increasing EPC prospects. Rising energy projects, especially renewable energy installations, are driving EPC firms to innovate and increase their skills. Also, global developments toward industrial automation and smart infrastructure necessitate the provision of specialised EPC services capable of dealing with difficult engineering challenges as well as regulatory compliance.

The report by Jadhavar Business Intelligence Pvt. Ltd. delivers a comprehensive analysis of the EPC Market, covering global, regional, and country-level insights from 2024 to 2030. It includes an overview of market definitions, assumptions, and scope, along with detailed market size, share, and segment analysis by Type, Power Generation, Equipment, and Application. The report provides in-depth market dynamics, trends, drivers, challenges, and opportunities, supported by analytical tools such as PORTER’s Five Forces, PESTLE, technology roadmaps, value chain mapping, and regulatory landscape assessments. Regional deep-dives cover North America, Europe, Asia Pacific, Middle East & Africa, and South America, with country-level forecasts. The competitive landscape section benchmarks leading players, profiles key companies, and analyses strategic developments. The report concludes with strategic recommendations, market opportunities, and key takeaways to guide business decision-making.

EPC Market Dynamic’s

Rapid urbanization, particularly in developing countries, has prompted major investments in infrastructure projects, resulting in a significant demand for EPC services. As populations rise and cities develop, there is an urgent demand for improved transportation, housing, utilities, and communication networks. Governments around the globe are prioritising infrastructure development to satisfy these needs and support economic growth, creating countless opportunities for EPC contractors to work on large-scale projects. Government initiatives, such as India's National Infrastructure Pipeline, which aims to invest $1.4 trillion in infrastructure projects by 2025, play an important role. Also, the rise of industries such as manufacturing, mining, and energy helps to drive market growth as these sectors require specialized infrastructure and facilities such as factories, warehouses, power plants, and refineries.

Global supply chain disruptions resulting from regional conflicts and trade restrictions continue to have a significant impact on the market. These disruptions cause delays and price fluctuation for crucial resources such as steel, cement, and specialist components, adding uncertainty to project timetables and budgets. For example, a semiconductor scarcity and interruptions in the shipping industry have caused many infrastructure projects to be postponed around the globe. Material cost inflation forecasts were increased higher in Q1 2025, with respondents expecting a 5.2% increase, the highest level since Q3 2023, and 59% of contributors globally citing material costs as a restriction.


The global shift to renewable energy sources gives an excellent opportunity for EPC organizations, with long-term contracts and increased market growth. Governments around the globe are committing to decarbonization, providing subsidies and incentives for renewable energy installations such as solar, wind, and hydropower. Technological advancements have made these resources more viable. For example, the US Inflation Reduction Act (IRA) supports large investments in clean energy initiatives. Renewable energy projects are the primary focus of 55% of respondents in project finance deals globally.

 

The market is heavily restricted by ongoing disruptions in global supply chains caused by geopolitical conflicts and trade barriers. These disruptions cause delays and price fluctuation for crucial resources such as steel, cement, and specialist components, adding uncertainty to project timetables and budgets. For example, semiconductor shortages and disruptions in the shipping industry have caused major infrastructure projects to be postponed around the world. Material cost inflation forecasts were increased higher in Q1 2025, with respondents expecting a 5.2% increase, the highest projections since Q3 2023. In Canada, the rising cost of materials due to higher tariffs increased from 60% to 69% of respondents, becoming the most often stated difficulty. The cancellation of a 2.4 GW offshore wind plant was a result of rising global supply-chain prices and financing rates.

EPC Market Segment Analysis

EPC Market is segmented by Type, Power Generation, Equipment and Application.

By Type,

Based on Type, The EPC Market is segmented into by Engineering, Procurement, Construction and Others. The Construction segment held the highest market share of 36.23% in 2024. serving as the basis for significant infrastructure endeavours around the globe. Its dominant position is drive by a strong global focus on infrastructure modernisation and development, as well as large investments by national governments in critical projects. The construction industry includes residential, commercial, industrial, and public infrastructure, all of which are seeing strong growth. The emergence of smart cities, which integrate technology and sustainability, also considerably boosts demand for construction-focused EPC services, which require advanced infrastructure solutions including energy-efficient buildings, intelligent transportation systems, and data-driven resource management.

By Application,

Based on Application, The EPC Market is segmented into Chemicals, Power, Oil and Gas

Manufacturing, IT and Telecom, Roads, Railways, and Bridges, Airports and Ports, Building Construction and Others. Roads, railways, and bridges is expected to be the dominant segment, holding the largest market share of 30.12% of the market share in 2024. Its dominance results from its global emphasis on constructing sustainable and efficient transportation systems, which are critical for facilitating both urban and inter-regional travel. As global urbanization grows, the necessity for vast road networks, trains, and bridges becomes crucial in facilitating both passenger and cargo movement. In developed regions, there is a strong emphasis on renovating or replacing aging infrastructure, with new bridge construction and road developments taking priority. Concurrently, there is a growing need for high-speed train lines and more efficient, electrified railway systems. These projects are usually large and complicated, necessitating professional EPC experience to deliver technical design and efficient construction services for successful completion.

EPC Market Region Analysis

Asia Pacific (APAC) is expected Dominating in the global EPC Market, accounting for 41.2% of total global market revenue by the end of 2025, and maintaining this dominance until 2030. This strong growth is primarily driven by growing industry, urbanisation, and considerable infrastructural development throughout the region. China, India, Japan, and South Korea are leading the way with large-scale infrastructure projects such as smart cities, renewable energy plants, and transportation networks. Government-sponsored initiatives such as China's Belt and Road Initiative (BRI) and India's National Infrastructure Pipeline (NIP) are generating a large pipeline of projects that require complete EPC services, with the BRI alone comprising multibillion-dollar expenditures. The region's increased interest in clean and renewable energy sources such as solar, wind, and hydropower, combined with the need to modernize aging infrastructure, is driving demand in the EPC industry. In the Power EPC market, Asia Pacific is also the leading and fastest-expanding region, expected to held a 37.6% market share in 2025, driven by economic growth in China and India, increased energy demand, and the presence of major EPC players like Power Construction Corporation of China and Larsen & Toubro.

EPC Market Competitive Analysis

The EPC market is highly competitive, with a mix of global giants and localized experts. In the oil and gas EPC segment, the top five businesses control roughly 46% of the market—Fluor (12%), Bechtel (10%), TechnipFMC (9%), Saipem (8%), and Petrofac (7%)—indicating a fairly consolidated industry. Firms such as Hyundai Engineering & Construction, Samsung Engineering, Larsen & Toubro, and WorleyParsons have smaller but important stakes, frequently excelling in regional contracts and specialty project sectors. LNG and petrochemical projects improve the standing of Technip Energies, Bechtel, and JGC, who collectively account for 44-48% of EPC work in this subsegment. Clients seek faster delivery, cost efficiency, and sustainability integration; thus, competition is increasingly based on execution skill, risk management, digital technologies, and collaborations with equipment makers.

EPC Market Scope:

Report Summary –

Construction holds the largest share in the EPC industry, contributing about 36.23% by type. Roads, railways, and bridges lead applications with around 30.12% share in 2024.Asia-Pacific dominates the market with over 41% share, driven by rapid urbanization and infrastructure projects. Top players like Fluor, Bechtel, TechnipFMC, Saipem, and Petrofac together account for nearly 46% of oil & gas EPC contracts. Key growth drivers include renewable energy expansion, government-backed infrastructure development, and adoption of digital technologies.

Key Players –

·       China State Construction Engineering Corporation

·       Vinci

·       Bouygues

·       Fluor Corporation

·       Bechtel Corporation

·       Saipem S.p.A.

·       Petrofac Limited

·       Technip Energies

·       McDermott International

·       Larsen & Toubro

·       Wood Group (John Wood plc)

·       Samsung Engineering

·       Hyundai Engineering & Construction (Hyundai E&C)

·        Kiewit Corporation

Frequently Ask Questions –

1)    What does EPC mean in the EPC market?

Ans - EPC stands for Engineering, Procurement, and Construction, where a contractor delivers turnkey projects from design to execution.

2)   What are the major segments of the EPC market?

Ans - The EPC market is segmented by type (engineering, procurement, construction), power generation (thermal, renewable, hydro, nuclear), and equipment.

3)    Who are the leading players in the EPC industry?

Ans - Top players include Fluor, Bechtel, TechnipFMC, Saipem, and Petrofac, with the top five holding nearly 46% of the oil & gas EPC market.

4)    Which region dominates the EPC market?

Ans - Asia-Pacific leads with about 40% share, followed by North America and Europe, driven by large-scale infrastructure and energy projects.

5)    How competitive is the EPC market?

Ans- The industry is moderately consolidated, with global giants dominating large projects and regional firms excelling in local contracts.


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