REPORT DESCRIPTION
Engineering , Procurement , and Construction Management ( EPCM ) is a specific type of contracting arrangement that is used in some industries . This involves the contractor to be responsible for end-to-end completion of a project right from design to procurement of raw materials to construction to execution to handover of the project to the end-user . The contractor is responsible for the completion of the project in the allocated time limit , which may be executed either remotely or by embarking at the location site .
The global engineering , procurement , and construction management market is divided on the basis of end user and geography .
The report analyzes the global EPCM market in a ground-up manner which includes insights into the market dynamics that will influence the market ’ s growth over the forecast period .
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Global Engineering , Procurement , and Construction Management Market : Trends and Opportunities The global EPCM market is driven by factors such as growth of real estate , growth of the oil and manufacturing industry , and interest of people to seek consultation from a specialist for construction undertakings . Moreover , technological advancements such as 3D printing and drone supervision are expected to further boost the market ’ s growth .
However , factors such as high procurement cycle along with added production , transportation , and investments costs are restraining the market ’ s growth . Nonetheless , factors such as increasing infrastructure spending , increasing demand for energy to rising population , and growth of real estate to provide housing for the growing population are expected to open opportunities for the EPCM market in the years to come .
Moreover , the ever-increasing demand for oil and gas for everyday operations and surging mining activities has compelled companies to deploy efficient systems in order to magnify production . This in turn , will favor the growth of the EPCM market .