EPC Sourcing & Supplier Intelligence Report 2030

Engineering, Procurement, and Construction (EPC) Procurement Intelligence Report, 2023 - 2030 (Revenue Forecast, Supplier Ranking & Matrix, Emerging Technologies, Pricing Models, Cost Structure, Engagement & Operating Model, Competitive Landscape)

  • Published Date: ---
  • Base Year for Estimate: 2022
  • Report ID: GVR-P-UC-015
  • Format: Electronic (PDF)
  • Historical Data: 2020 - 2021
  • Number of Pages: 0

Engineering, Procurement, and Construction (EPC) Category Overview

The engineering, procurement, and construction (EPC) category is anticipated to grow at a CAGR of 5.5% from 2023 to 2030. North America holds the largest share of over 35% and APAC is expected to be the fastest-growing region during the forecast period. The EPC category is driven by factors such as the growing need for infrastructure development, particularly in developing economies such as India, China, & Brazil, increasing adoption of renewable energy sources such as solar and wind, and people's desire to seek expert assistance for construction projects. Furthermore, the introduction of new technologies such as 3D printing and Building Information Modelling (BIM) is likely to open up new avenues for market expansion.

There are several key trends emerging in the category and some of them include rising demand for infrastructure, the emergence of new technologies, and growing investments in the oil & gas industry, for example:

  • The U.S. Infrastructure Investment and Jobs Act, signed in November 2021, aims to provide USD 1.2 trillion in funding for EPC projects over the next five years

  • In April 2022, CWP Global partnered with Bechtel to develop large-scale green hydrogen and ammonia facilities, providing conceptual and early planning solutions for optimal integrated configurations.

  • The UK plans to accelerate HS2 rail network construction using on-site 3D reinforced concrete printing using robots, developed by SCS JV (Skanska Costain STRABAG Joint Venture)

Building planning and design is a collaborative process that necessitates participation from a variety of stakeholders, including engineers, architects, builders, and clients. The conventional method makes it impossible to visualize changes in real time because everyone works on their own files. It leads to the creation of many copies of the same plan, which in turn leads to confusion. Advanced Building Information Modelling (BIM) systems address this issue by centralizing data and allowing everyone to collaborate on a single shared model.

This category is fragmented and very competitive with the presence of multiple established enterprises. To increase their market share, these companies are implementing methods such as mergers and acquisitions, partnerships, and collaborations. Many big players are focusing on expanding their global operations by gaining contracts and providing EPC services to develop plants and production facilities in many industry verticals, for instance:

  • In May 2022, Mitsubishi Heavy Industries Ltd and the SEPCOIII consortium inked a contract with Aluminum Bahrain BSC (Alba) to expand Power Station 5 at Alba by installing a new 680.9-megawatt Combined Cycle Gas Turbine Power Block

  • In December 2021, Saudi Aramco awarded McDermott three new EPC and installation projects. EPCI of four drilling jackets, seven oil production deck modules, and three contract release purchase orders for the construction of 45 kilometers of pipeline, more than 100 kilometers of subsea cables, and tie-in works to existing facilities are all part of the project

Major cost components for this category vary depending on the industry which implements engineering, procurement, and construction, for example:

  • For the oil & gas sector, direct field costs (machinery & equipment) account for roughly 50-55% of the total cost. Labor (15-20%), administrative overheads (10-15%), and miscellaneous costs (10-15%) are the other major costs

  • In the power generation sector, major cost components include mechanical systems (70-75%), electrical systems (9-11%), and civil works (10-12%)

  • For the infrastructure sector, major costs include equipment (30-45%), material (25-35%), and labor (20-35%) of the total cost.

There are three main sourcing factors to consider in this category: contracting bundled suppliers, multiple suppliers, and preferred suppliers. Contracting bundled suppliers is a common practice in Asia-Pacific, where local and regional players engage with clients. Multiple suppliers allow projects of all categories to be addressed, and it is helpful to have a set of pre-qualified suppliers in place for any required region over 3-5 years. Preferred suppliers involve selecting a set of 5-8 service providers, and then initiating a bidding process only among these preferred partners every time a project is planned.

Engineering, Procurement, and Construction Procurement Intelligence Report Scope

Report Attribute


Engineering, Procurement, and Construction Category Growth Rate

CAGR of 5.5% from 2023 to 2030

Base Year for Estimation


Pricing growth Outlook

5 - 7% (annual)

Pricing Models

Maximum price model, cost plus pricing model, fixed price model

Supplier Selection Scope

Cost and pricing, Past engagements, Productivity, Geographical presence

Supplier selection criteria

End industry application, quality compliance, financial stability, service provision, technical specifications, operational capabilities, regulatory standards and mandates, category innovations, and others

 Report Coverage

Revenue forecast, supplier ranking, supplier matrix, emerging technology, pricing models, cost structure, competitive landscape, growth factors, trends, engagement, and operating model

Key companies profiled

Fluor, Flexitallic, Saipem, ERGIL, Tekfen Holding, Maire Tecnimont, BCC Group, Azco, Samsung Engineering, Bechtel, etc.

Regional scope


Revenue Forecast in 2030

USD 12,166.23 billion

Historical data

2020 - 2021

Quantitative units

Revenue in USD billion and CAGR from 2023 to 2030

Customization scope

Up to 48 hours of customization free with every report.

Pricing and purchase options

Avail customized purchase options to meet your exact research needs. Explore purchase options


Frequently Asked Questions About This Report

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Add-on Services

Should Cost Analysis

Component wise cost break down for better negotiation for the client, highlights the key cost drivers in the market with future price fluctuation for different materials (e.g.: steel, aluminum, etc.) used in the production process

Rate Benchmarking

Offering cost transparency for different products / services procured by the client. A typical report involves 2-3 case scenarios helping clients to select the best suited engagement with the supplier

Salary Benchmarking

Determining and forecasting salaries for specific skill set labor to make decision on outsourcing vs in-house.

Supplier Newsletter

A typical newsletter study by capturing latest information for specific suppliers related to: M&As, technological innovations, expansion, litigations, bankruptcy etc.

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