Engineering, Procurement, and Construction Management (EPCM) Market Poised to Exceed $X Billion by 2030, States MarkWide Research
MarkWide Research recently released a report titled “Engineering, Procurement, and Construction Management (EPCM) Market,” revealing that the global EPCM market is positioned for substantial growth. The market is projected to surpass $X billion by 2030, with an estimated CAGR of X% during the forecast period from 2023 to 2030.
Key factors driving the growth of the global EPCM market include:
- Infrastructure Development Projects: The increasing need for infrastructure development, such as transportation, energy, and utilities, is driving the demand for EPCM services to efficiently plan, manage, and execute large-scale projects.
- Focus on Cost Efficiency: EPCM services help optimize project costs by ensuring efficient procurement, construction, and management, making them attractive for both public and private sector projects.
- Technological Advancements: Integration of digital technologies, including Building Information Modeling (BIM) and project management software, is enhancing the capabilities and efficiency of EPCM services.
- Energy Transition: The transition to renewable energy sources and sustainable infrastructure projects is expected to boost the EPCM market, especially in sectors such as solar, wind, and electric vehicle charging infrastructure.
- Asia-Pacific’s Rapid Growth: Asia-Pacific is experiencing significant growth in EPCM projects due to urbanization, industrialization, and increased investment in infrastructure across the region.
The report also profiles leading companies in the global EPCM market, providing insights into their strategies, project portfolios, and market presence.
In conclusion, the global Engineering, Procurement, and Construction Management (EPCM) market is poised for substantial growth, driven by infrastructure development, cost-efficiency goals, technological advancements, and the energy transition. Asia-Pacific is emerging as a key market, and with a CAGR of X%, the future looks promising for the EPCM industry.