Oil & Gas Engineering Services Market 2021 Precise Outlook - Toyo Engineering Corporation, Element Materials Technology, L&T Technology Services Limited

The Oil & Gas Engineering Services Market report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.

The Oil & Gas Engineering Services Market is expected to register a CAGR of approximately 7% during the forecast period (2020 - 2025).

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Top Leading Companies of Oil & Gas Engineering Services Market are Stress Engineering Services Inc., Toyo Engineering Corporation, Element Materials Technology, L&T Technology Services Limited, Arseal Technologies, Citec Group Oy Ab, WSP Global Inc., Wood PLC, Tetra Tech, Inc., Mannvit Consulting Engineers, QuEST Global Services Pte. Ltd., M&H, Hatch Ltd. and others.

Industry News and Updates

March 2020 - A global engineering consulting firm, Sargent & Lundy, acquired Summit Engineering Services, Inc., which will enable Sargent & Lundy to expand its presence in the oil and gas engineering sector, covering all verticals of up, mid and downstream petroleum and natural gas.

Key Market Trends

North America Expected to Dominate the Market

- North America is expected to dominate the Oil and Gas Engineering Services Market, due to the increasing number of oil & gas projects in countries such as the United States and Canada. The United States is one of the largest producers of crude oil and natural gas, according to the study in 2018, the United States accounted for approximately 14.1% to 20.0% of the global production of crude oil and natural gas respectively.

- The country is witnessing a significant number of strategic collaborations as a lucrative path to grab the opportunities provided by the oil and gas industry in the region. For instance, in June 2020, US-based engineering companies, KBR and L&T Hydrocarbon Engineering (LTHE), signed a Memorandum of Understanding (MoU) aimed to build modular process plants for refinery and petrochemical projects. Under the terms of the MoU, KBR will provide license proprietary technology and engineering services such as solid acid alkylation technology (K-SAAT), solvent de-asphalting technology (ROSE), and catalytic olefins technology (K-COT). Additionally, LTHE will serve at the EPC provider.

Regional Outlook of Oil & Gas Engineering Services Market report includes the following geographic areas such as: North America, Europe, China, Japan, Southeast Asia, India and ROW.

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What Are The Market Factors That Are Explained In The Report?

Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a global and regional scale.

Analytical Tools: The Oil & Gas Engineering Services Market Report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. The analytical tools such as Porter’s five forces analysis, SWOT analysis, feasibility study, and investment return analysis have been used to analyze the growth of the key players operating in the market.

Key Market Features: The report evaluated key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.

Customization of the Report: This report can be customized as per your needs for additional data up to 3 companies or countries or 40 analyst hours.

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