The revenue of the global EPC/EPCM industry is expected to grow consistently at a CAGR of around 5% until 2020.
Procurement market intelligence analysts have announced the latest market research report on EPC and EPCM services for the period 2016-2020. This market analysis discusses the major drivers and key emerging trends that will influence the EPC and EPCM services market during the forecast period. Some of the key vendors in this market include Vinci, ACS Group, Bechtel, Bouygues, and HOCHTIEF.
APAC accounted for more than 40% of the total market revenue in 2015, and is likely to continue its dominance in the coming years. Much of the region’s growth is due to the expected increase in investments and infrastructure development in China and India over the next five years.
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According to Angad Singh, a category specialist at Technavio for research on category spend intelligence, “Of late, several construction companies are implementing newer financing alternatives, such as PPPs, crowd-funding, and other innovative options such as green bonds that are issued to promote green and sustainable construction initiatives. The EPC/EPCM firms are adopting the design-to-value approach to offer customized solutions to clients and gain competitive edge over their peers.”
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The EPC/EPCM market faces a high level of risk with respect to non-compliance due to variations in construction laws across countries. This has propelled several suppliers to acquire local players to help them establish their presence in global markets and to provide them with expertise in regional regulatory environments, thereby reducing the non-compliance threats. Vendors in the market are using advanced technology platforms such as BIM tools and 3D modeling to provide value-based offerings and minimize expenses for clients. Owing to the strategic importance related to construction projects, several category managers are collaborating with EPC/EPCM firms that are technologically advanced and can offer innovative solutions with design-to-value approach.
A more detailed analysis is available in the procurement market intelligence report titled, ‘EPC and EPCM Services – Procurement Market Intelligence 2016’.
