EPC Consulting Market By Service Type (Engineering Services, Procurement Services, Construction Services, Project Management Services, Commissioning Services), By End-Use Industry (Energy & Power, Oil & Gas, Chemicals, Infrastructure & Construction, Manufacturing, Mining & Metals, Water & Wastewater, Aerospace & Defense), and By Region; Global Insights & Forecast (2024 – 2030)

As per Intent Market Research, the EPC Consulting Market was valued at USD 10.5 billion in 2023 and will surpass USD 19.2 billion by 2030; growing at a CAGR of 8.9% during 2024 - 2030.

The EPC (Engineering, Procurement, and Construction) consulting market is a crucial segment within the global construction and infrastructure industries. EPC consulting firms are responsible for providing integrated services across all phases of a project, from engineering design to procurement of materials and equipment, and finally, the construction of the infrastructure. These firms help in streamlining project execution, reducing costs, and ensuring compliance with regulatory standards. The market is influenced by the rising demand for infrastructure development, industrial expansion, and energy projects, with sustainability increasingly driving project planning and execution. EPC consulting is essential for large-scale projects such as power plants, oil refineries, infrastructure developments, and industrial facilities.

Engineering Services Segment Is Largest Owing to Increased Demand for Complex Infrastructure Projects

The Engineering Services subsegment is the largest in the EPC consulting market, driven by the need for specialized expertise in designing complex and large-scale infrastructure projects. This subsegment includes the design and planning of engineering systems, structural components, and electrical and mechanical elements of projects across industries. The growth in demand for energy, water treatment, and transportation infrastructure is leading to a higher need for engineering solutions that meet stringent regulatory standards and sustainability goals. Engineering services are integral to both new construction projects and upgrades to existing facilities, further increasing their importance in the global EPC consulting landscape.

The demand for engineering services is particularly robust in sectors such as energy, oil and gas, and infrastructure, where large-scale and complex designs require advanced technical capabilities. The increasing focus on renewable energy projects, including solar, wind, and bioenergy, is pushing the demand for specialized engineering services. These services are essential for optimizing designs that maximize energy efficiency, minimize environmental impact, and meet international building standards. As industries prioritize sustainability, engineering services that provide innovative and eco-friendly design solutions are becoming even more critical.

Procurement Services Segment Is Fastest Growing Due to Complex Global Supply Chains

Procurement Services is the fastest-growing subsegment in the EPC consulting market, owing to the increasing complexity of global supply chains and the need for cost-effective sourcing of materials and equipment. In today’s global economy, procurement plays a pivotal role in ensuring that projects are completed on time and within budget. EPC firms are increasingly being called upon to manage the procurement of specialized equipment and materials, often sourced from multiple regions, and delivered to remote or challenging project sites. This has become even more critical as industries focus on reducing project costs while maintaining quality and compliance with regulatory standards.

The expansion of industries like energy, chemicals, and manufacturing is contributing to the growing demand for procurement services, with a focus on ensuring that all materials are sourced efficiently and delivered on time. The complexities of modern procurement, including the need for sophisticated inventory management and logistics, have led to the rapid growth of this subsegment. Companies are investing in digital procurement platforms to streamline the process, improve transparency, and reduce the risk of delays or cost overruns, further fueling the growth of procurement services in EPC consulting.

Project Management Services Segment Is Key to Effective Execution of Large-Scale Projects

The Project Management Services segment is another essential part of the EPC consulting market, contributing significantly to the successful execution of large-scale projects. With growing complexities in infrastructure, energy, and industrial projects, effective project management is crucial for delivering projects within deadlines and budgets. This subsegment focuses on the planning, coordination, and oversight of projects, including risk management, resource allocation, and quality control. Project management services ensure that all phases of a project—from design to construction—are aligned with the overall objectives, and they are essential for mitigating risks and enhancing project delivery efficiency.

In sectors like energy, chemicals, and manufacturing, where projects often involve multi-disciplinary teams and a variety of stakeholders, the role of project management services is growing. These services are integral to managing complex schedules, controlling costs, and ensuring the seamless integration of engineering, procurement, and construction activities. As the demand for large-scale projects in emerging economies increases, the reliance on robust project management services will continue to expand, making this subsegment a critical driver for the growth of the EPC consulting market.

Energy & Power Sector Is Largest End-Use Industry Owing to Rising Global Energy Demand

The Energy & Power sector is the largest end-use industry for EPC consulting services, driven by the increasing global demand for energy and the need for infrastructure to support power generation, distribution, and storage. The energy transition toward renewable sources, such as solar, wind, and hydropower, has increased the complexity of energy projects, further fueling the demand for specialized EPC services. Additionally, the continued reliance on conventional energy sources like oil and gas further supports growth in this sector, as energy companies look to enhance efficiency, reduce emissions, and comply with ever-tightening environmental regulations.

Energy infrastructure projects require comprehensive EPC services, including the design, procurement, and construction of power plants, transmission lines, and storage facilities. The growth in renewable energy and the global shift toward cleaner energy technologies also present new opportunities for EPC firms, as they are tasked with delivering innovative solutions for energy generation that meet regulatory and environmental standards. As the energy sector continues to evolve with new technologies and a focus on sustainability, the demand for EPC consulting services in this area is expected to remain strong.

Infrastructure & Construction Is Fastest Growing End-Use Industry Due to Urbanization

The Infrastructure & Construction sector is the fastest-growing end-use industry in the EPC consulting market. The rapid pace of urbanization, particularly in emerging markets, is driving the need for new infrastructure such as roads, bridges, airports, and public transportation systems. This growth is further accelerated by government investments in infrastructure projects to stimulate economic development. EPC firms are increasingly involved in large-scale infrastructure projects, offering comprehensive services to design, procure, and construct critical facilities and systems.

The rise in smart cities and green building initiatives is contributing to the growth of this sector, with EPC firms providing innovative solutions that incorporate energy efficiency, sustainability, and cutting-edge technologies. The increased demand for housing, commercial buildings, and transportation networks, especially in Asia-Pacific and Latin America, is further fueling the expansion of EPC services in the infrastructure sector. With governments focusing on enhancing public infrastructure, this subsegment is expected to grow rapidly, making it a key driver of the EPC consulting market.

North America Is Largest Region Owing to Robust Construction and Energy Sectors

North America is the largest region in the EPC consulting market, primarily due to the well-established energy, oil and gas, and construction industries. The region's demand for large-scale infrastructure and energy projects, along with its increasing focus on renewable energy and smart technologies, drives the need for EPC consulting services. The United States and Canada are leading markets, with ongoing investments in energy infrastructure, including oil refineries, natural gas plants, and renewable energy projects such as wind and solar power installations. The construction sector is also a significant contributor, with both public and private sectors focusing on infrastructure development, urbanization, and green building projects.

The United States, in particular, has a mature market for EPC services, with a high number of ongoing and planned energy, industrial, and infrastructure projects. With the continued implementation of the Infrastructure Investment and Jobs Act and an emphasis on sustainability, North America is expected to maintain its leadership in the EPC consulting market. The region’s emphasis on regulatory compliance, energy efficiency, and technological innovation continues to drive demand for comprehensive EPC services.

Leading Companies and Competitive Landscape

The competitive landscape of the EPC consulting market is dominated by large, well-established firms with global operations. Companies like Bechtel Corporation, Fluor Corporation, and Jacobs Engineering Group lead the market due to their extensive experience, technical expertise, and capacity to manage complex and large-scale projects. These firms offer a wide range of services, from engineering and procurement to construction and project management, allowing them to cater to diverse industries such as energy, oil and gas, and infrastructure. Smaller firms, however, are also carving out niches by offering specialized services or focusing on specific regional markets.

As the demand for sustainable and technologically advanced solutions grows, leading EPC firms are increasingly focusing on digital transformation, including the integration of AI, IoT, and data analytics into their service offerings. Mergers and acquisitions are also common, as firms seek to expand their portfolios and enhance their capabilities in emerging markets and industries. With the increasing complexity of global supply chains and project execution, EPC firms are investing heavily in advanced project management and procurement solutions to stay competitive in this rapidly evolving market.

Recent Developments:

• Fluor announced the completion of a new greenfield project for renewable energy in California, strengthening its commitment to sustainable energy solutions.

• Jacobs won a significant contract with a major oil company to support the development of a multi-billion-dollar refinery project in the Middle East.
• Worley acquired a leading digital services firm, expanding its capabilities in digital transformation for industrial projects across energy and infrastructure.
• Bechtel secured a contract for the construction of a state-of-the-art solar power plant in Arizona, reinforcing its role in renewable energy projects.
• TechnipFMC launched a new subsea automation system, offering innovative solutions for deepwater exploration and production, aimed at increasing operational efficiency in offshore oil fields.

List of Leading Companies:

• Bechtel Corporation
• Fluor Corporation
• Jacobs Engineering Group
• KBR, Inc.
• WorleyParsons
• Samsung Engineering Co., Ltd.
• Larsen & Toubro Limited
• TechnipFMC
• Wood Group
• McDermott International
• Hyundai Engineering & Construction
• AECOM
• CB&I (Chicago Bridge & Iron)
• Saipem S.p.A.
• Skanska AB

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