"Actionable Insights to Fuel Your Growth"

Oil & Gas Fabrication Market Size, Share & Industry Analysis, By Application (Upstream, Midstream, Downstream) Others and Regional Forecast, 2021-2028

Region : Global | Report ID: FBI102154 | Status : Ongoing

 

KEY MARKET INSIGHTS

The oil & gas industry is a principal driver of the global economy, which is going through a significant transformation that uptick the demand in the global market. Improved break-even points, an increase in demand for energy, and utilization of technology to reduce production costs are the major factors leading to the growth of the oil & gas industry. An increase in oil & gas production and exploration activities, growing merger and acquisition trends, and increasing demand for oil are the primary market dynamics propelling the oil & gas industry through which the oil & gas fabrication market is expanding its market share in the global market.


The oil & gas fabrication market is segmented into application and geography. Based on the application, the market is categorized into upstream, midstream, and downstream segments. The oil & gas fabrication market is dominated by the upstream segment, as it includes onshore and offshore production and exploration activities, which requires production equipment, structural steel, and various other products and components. Therefore, the upstream segment is leading the market during the forecast period.


Key Market Driver -

Increase in oil & gas production & exploration activities

Key Market Restraint -

High initial investment and stringent regulations


The increasing oil & gas production and exploration activities, along with growing investments in the services market, propel the demand for the oil & gas fabrication market. Increasing the need to optimize the productivity from mature and new reserves, rising investments in deepwater and ultra-deepwater projects and increasing focus on developing unconventional hydrocarbons drive the market during the forecast period. Increasing investment in the Asia-Pacific oil & gas industry and significant development in technology are promising opportunities for growing the oil & gas fabrication market during the forecast period.


Key Players Covered:


Some of the globally acclaimed companies for oil & gas fabrication market are Rig Manufacturing, LLC, Newpark Resources Inc., Superior Derrick Services, STI Group, Northern Weldarc Ltd., Chantier Davie Canada Inc., Larsen & Toubro, Lamprell, NPCC, Drydocks World, Gulf Piping Company (IMCC Group), Eversendai, Lefebvre Engineering, Denholm Yam, TransTech Energy, Oil States Industries, Honiron Manufacturing, United Pipe & Steel Fabrication, The Weir Group PLC, WF Steel and Crane, Focus Construction AS, Morrison Custom Welding, Forsyths Ltd, Myrex Industries, McDermott, and Audubon Companies.


Regional Analysis:


To gain extensive insights into the market, Request for Customization


The oil & gas fabrication market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. North America is dominating the market due to an increase in oil and gas production from the U.S. New exploration of oilfields and oil reserves in North America also propels the demand for the oil & gas fabrication market during the forecast period. Asia-Pacific is expected to be the second-largest market in the global demand owing to increasing growth in industrialization and the growing demand for natural gas during the forecast period. Middle East & Africa is followed by the Asia-Pacific region owing to the increase in oil & gas exploratory projects and the new development of oilfields in the Middle East. Hence, a significant increase in demand for oil & gas accelerates the demand for oil & gas fabrication market during the forecast period.


Segmentation


















 ATTRI*BUTE


 DETAILS

By Application




  • Upstream

  • Midstream

  • Downstream



By Geography




  • North America (the U.S. and Canada)

  • Europe (UK, Germany, France, Italy, Spain, Russia and Rest of Europe)

  • Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)

  • Latin America (Brazil, Mexico and Rest of Latin America)

  • Middle East and Africa (South Africa, GCC and Rest of Middle East and Africa)



Key Industry Developments



  • In October 2019, McDermott received a fabrication subcontract for the Greater Tortue Ahmeyim natural gas project in Batam, Indonesia. This helped the company to increase its revenue resulting to emerge as a competing player in the global market

  • In September 2019, McDermott has received a contract to provide three complex modules fabrication for the Arctic LNG 2 project in Russia. This enabled the company to increase its market share and expand its products offerings in the global market

  • In March 2018, Audubon Companies and Opero Energy had announced to open a new fabrication center to focus on investment in technology and automation in Houston. This helped the company to optimize the production cost and increase the market share


Oil & Gas Fabrication Market Size, Share and Global Industry Trend Forecast till 2026
  • Ongoing
  • 2020
  • 2017-2019

    CHOOSE LICENSE TYPE

  • 4850
    6850
    8850

Personalize this Research

  • Granular Research on Specified Regions or Segments
  • Companies Profiled based on User Requirement
  • Broader Insights Pertaining to a Specific Segment or Region
  • Breaking Down Competitive Landscape as per Your Requirement
  • Other Specific Requirement on Customization
Request Customization Banner

Energy & Power Clients

Nikon
Ntt
Fujifilm
Abb
Itochu

Client Testimonials

“We are happy with the professionalism of your in-house research team as well as the quality of your research reports. Looking forward to work together on similar projects”

- One of the Leading Food Companies in Germany

“We appreciate the teamwork and efficiency for such an exhaustive and comprehensive report. The data offered to us was exactly what we were looking for. Thank you!”

- Intuitive Surgical

“I recommend Fortune Business Insights for their honesty and flexibility. Not only that they were very responsive and dealt with all my questions very quickly but they also responded honestly and flexibly to the detailed requests from us in preparing the research report. We value them as a research company worthy of building long-term relationships.”

- Major Food Company in Japan

“Well done Fortune Business Insights! The report covered all the points and was very detailed. Looking forward to work together in the future”

- Ziering Medical

“It has been a delightful experience working with you guys. Thank you Fortune Business Insights for your efforts and prompt response”

- Major Manufacturer of Precision Machine Parts in India

“I had a great experience working with Fortune Business Insights. The report was very accurate and as per my requirements. Very satisfied with the overall report as it has helped me to build strategies for my business”

- Hewlett-Packard

“This is regarding the recent report I bought from Fortune Business insights. Remarkable job and great efforts by your research team. I would also like to thank the back end team for offering a continuous support and stitching together a report that is so comprehensive and exhaustive”

- Global Management Consulting Firm

“Please pass on our sincere thanks to the whole team at Fortune Business Insights. This is a very good piece of work and will be very helpful to us going forward. We know where we will be getting business intelligence from in the future.”

- UK-based Start-up in the Medical Devices Sector

“Thank you for sending the market report and data. It looks quite comprehensive and the data is exactly what I was looking for. I appreciate the timeliness and responsiveness of you and your team.”

- One of the Largest Companies in the Defence Industry
We use cookies to enhance your experience. By continuing to visit this site you agree to our use of cookies . More info.
X