Report Overview:
The global oil & gas fabrication market size was valued at USD 5.2 Bn in 2021 and is estimated to grow to USD 17.8 Bn in 2028, recording a CAGR of 3.5% during the forecast period. Fabrication is the process of creating products by combining often standard parts with one or more independent techniques. For instance, cutting, bending, and assembling metal structures are all steps in the making of steel. Different gasses are utilized in the fabrication processes, and as natural gas is less expensive than other fossil fuels, it is expected that demand would increase during the projected period.
The global oil and gas pipeline fabrication market is anticipated to grow in the next few years as the natural gas pipeline network is likely to grow alongside rising natural gas consumption. The global market for oil & gas fabrication is expanding as a result of increased investment in manufacturing operations. In the modern oil and gas industry, all production-related infrastructure, equipment, and components must be reliable and supportive. The goal of sheet metal manufacturing in the oil and gas sector is to aid in on- and offshore resource development.
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Increasing investments in deep-water and ultra-deep-water projects, increased interest in boosting productivity from new and existing deposits, and a growing emphasis on utilizing unconventional hydrocarbons will probably drive during the forecast period. For instance, Scottish developers announced plans for £235 Mn for the growth of the Upstream wind supply chain in December 2021.
Competitive Analysis:
Prominent Companies to Establish Various Corporate Strategies to Aid in Global Expansion. These players are focusing on strategic collaborations and partnerships to expand their market presence and strengthen their product portfolio.
KEY INDUSTRY PLAYERS
- Newpark Resources Inc.
- Integrated Flow Solutions, Inc.
- WF Steel and Crane
- Joulon (Derrick Services (UK) Limited (DSL))
- STI Group
- Northern Weldarc LTD.
- Chantier Davie Canada Inc.
- Larsen & Toubro Limited
- Lamprell plc
- NPCC
- Drydocks World
- Eversendai
- Lefebvre Engineering FZC
- THE DENHOLM GROUP
- Oil States Industries, Inc.
- Honiron Manufacturing
- United Pipe & Steel Fabrication
- Kobay Technology Bhd
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Segmentation:
The report focuses on studying the Oil & Gas Fabrication market on the basis of segments by manufacturers, by type, by application, by region and country. It also offers information about market size (value, volume, sales and revenue) and CAGR for the historical period (2017-2020) and forecast period (2022-2028), considering 2021 as the base year.
On the basis of the type, the global oil & gas fabrication market is segmented into upstream and downstream. The upstream segment has dominated the market share in 2021 due to the rising production and exploration activities throughout the globe.
By Application
- Upstream
- Downstream
By Product Type
- Structural steel fabrication
- Process Equipment Fabrication
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Key Development:
-Drydocks World completed the Alpha topside fabrication in November 2021, and it was successfully shipped from the Dubai manufacturing yard to the Netherlands.
-Focus Construction expanded its manufacturing operations to Ho Chi Minh City, Vietnam, in June 2021.
-Kobay Technology Bhd has established a new production facility in Seberang Prai, which offers additional benefits such as the simplification of the logistical operations and increased convenience for management to carry out supervisory responsibilities.
Regional Data Analysis:
The growing oil and gas production in the United States is expected to lead North America to dominate the global oil and gas fabrication industry. Additionally boosting demand for the oil & gas fabrication industry throughout the anticipated period would be a fresh exploration of North American oil fields and oil reserves.
However, it is predicted that the Asia Pacific would expand during the coming years due to the increasing industrialization and natural gas demand. As a result, there will be a significant increase in the demand for oil and gas fabrication during the projection period.
Why Purchase the Report?
-The report includes information such as market dynamics scenario, opportunities and challenges during the forecast period
-Identify the key regulations prevailing in the market and understand their impact on the market over the forecast period
-Regional, sub-regional, and country-level data include the demand and supply forces along with their influence on the market.
-The competitive landscape comprises a share of key players, offering products, relevant financial information, recent developments, SWOT analysis, and strategies.
-Understand the current market scenario and viability of the global market over the forecast period.
Some of the key questions answered in this report:
-What are sales, revenue, and price analysis of top manufacturers of the market?
-What would be the upcoming Oil & Gas Fabrication market behavior forecast with trends, challenges, and drivers for development?
-Which product and application will take a share of the Oil & Gas Fabrication market?
-What will happen in the coming existing and emerging markets?
-What will be the CAGR and size of the Oil & Gas Fabrication market throughout the forecast period?
Detailed TOC of Oil & Gas Fabrication Market: https://www.extrapolate.com/toc/Energy-and-Power/oil-gas-fabrication-market/21600
TABLE OF CONTENTS:
Chapter 1: Oil & Gas Fabrication Market Overview
Chapter 2: Market Competition by Manufacturers
Chapter 3: Production Capacity by Region
Chapter 4: Oil & Gas Fabrication Consumption by Region
Chapter 5: Segment by Type
Chapter 6: Segment by Application
Chapter 7: Key Companies Profiled
Chapter 8: Oil & Gas Fabrication Manufacturing Cost Analysis
Chapter 9: Marketing Channel, Distributors and Customers
Chapter 10: Market Dyanamics
Chapter 11: Production and Supply Forecast
Chapter 12: Consumption and Demand Forecast
Chapter 13: Forecast by Type and by Application (2023-2028)
Chapter 14: Research Finding and Conclusion
Chapter 15: Methodology and Data Source
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