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Engineering, Procurement, & Construction Management (EPCM) Market - New Business Opportunities & Investment Research Report 2024
Engineering, Procurement, & Construction Management Market
The global engineering, procurement, and construction management market is divided on the basis of end user and geography.The report analyzes the global EPCM market in a ground-up manner which includes insights into the market dynamics that will influence the market’s growth over the forecast period.
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Global Engineering, Procurement, and Construction Management Market: Trends and Opportunities
The global EPCM market is driven by factors such as growth of real estate, growth of the oil and manufacturing industry, and interest of people to seek consultation from a specialist for construction undertakings. Moreover, technological advancements such as 3D printing and drone supervision are expected to further boost the market’s growth.
However, factors such as high procurement cycle along with added production, transportation, and investments costs are restraining the market’s growth. Nonetheless, factors such as increasing infrastructure spending, increasing demand for energy to rising population, and growth of real estate to provide housing for the growing population are expected to open opportunities for the EPCM market in the years to come.
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Moreover, the ever-increasing demand for oil and gas for everyday operations and surging mining activities has compelled companies to deploy efficient systems in order to magnify production. This in turn, will favor the growth of the EPCM market.
Global Engineering, Procurement, and Construction Management Market: Regional Outlook
By geography, the global EPCM market is analyzed with respect to the regional segments of North America, Europe, Latin America, Asia Pacific, and the Middle East and Africa. At present, North America holds the leading share in the global EPCM market owing to the use of automated systems supported by technology for end-to-end completion of engineering projects.
Middle East and Africa is expected to emerge as a significant region for EPCM over the report’s forecast period. The region is expected to account for a considerable market share in the global EPCM market. This is mainly due to the high infrastructural needs that need to be executed using automated systems. Moreover, increasing oil exports from the region has necessitated the adoption of EPCM solutions for efficiency.
In Asia Pacific, massive industrial development in countries such as China and India as a consequence of economic growth is pushing the growth of the EPCM market.
Global Engineering, Procurement, and Construction Management Market: Competitive Landscape
Some of the leading companies in the global engineering, procurement, and construction management market are Citec, Sports Shanghai Ltd., Engineers India Limited, and Amec Foster Wheeler. Some other companies operating in the EPCM market are Anewa Engineering Pvt. Ltd., WorleyParsons, Stantec, Clark Eriksson, CONSTRUCAP, TWP, Ausenco, and Fluor Limited among others.
The EPCM industry has been under consolidation over the past few years. Major companies are focused on acquisitions and strategic partnerships for geographical expansion. This is also to diversify their service offerings and to establish their presence in regional and local markets.
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Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insights for decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
TMR’s data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, TMR employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.
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