The engineering, procurement and construction (EPC) consulting market plays a pivotal role in shaping and developing critical infrastructure projects around the world. EPC consulting serves to optimize costs and schedules by providing end to end project management from conceptualization, planning and design through to commissioning of projects in areas such as transportation, energy and utilities, oil and gas, chemicals and petrochemicals. Given the large capital expenditures and long gestation periods involved in setting up core infrastructure, EPC consulting aims to lower risks and ensure projects are delivered as per specified quality, safety, budget and timeline requirements.

The global EPC Consulting Market is estimated to be valued at Us$ 11.4 Bn in 2024 and is expected to exhibit a CAGR Of 13% over the forecast period 2023 To 2030.

Market key trends:

Pre-Engineering, Procurement and Construction (Pre-EPC) is becoming increasingly popular to early risk identification and mitigation. Pre-EPC involves conducting detailed feasibility studies, concept studies, front-end engineering design and associated consultancy during initial project development. This allows thorough scrutiny and vetting of capital and operational expenditure estimates, resource planning as well as assessment of various project risks and compliance requirements at conceptualization stage itself. Another key trend gaining traction is commissioning and start up consultancy to seamlessly transfer ownership of completed projects to clients and facilitate smooth handover and commercial operations. With growing megaprojects, EPC consultants are also providing program management expertise to oversee interlinked project schedules and coordinate multi-disciplinary project teams.

Porter’s Analysis

Threat of new entrants: Low barriers to entry due to lack of specialized skills and technologies. However established players have scale advantages and brand recognition

Bargaining power of buyers: High due to availability of substitutes. Buyers can switch to in-house engineering solutions if EPC consulting firms do not meet requirements

Bargaining power of suppliers: Low since EPC consulting firms do not depend on a single supplier. They have alternatives to choose from
Threat of new substitutes: Moderate threat from in-house engineering solutions. However

EPC consulting provides outsourced expertise
Competitive rivalry: High as key players compete on service quality, technical expertise and project execution

Key Takeaways

The Global EPC Consulting Market Demand is expected to witness high growth over the forecast period. The global EPC consulting market is estimated to be valued at US$ 11.4 Bn in 2024 and is expected to exhibit a CAGR of 13% over the forecast period 2023 to 2030.

Regional analysis:

Asia Pacific region is currently dominating the market for EPC Consulting with the largest market share owing to rapid industrialization and infrastructure development projects in countries such as China and India. North America is expected to be the fastest growing region due to increasing investments in renewable energy consulting projects.

Key players operating in the EPC Consulting market are CalA, Flour Corporation, PG, and DE. EPC Consulting providers are focusing on expanding their global footprint and service offerings to gain market share.

Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it