United States EPC Market Growth Analysis - Forecast Trends and Outlook (2025-2034)

Strategic Insights -

The United States Engineering, Procurement, and Construction (EPC) market is a significant contributor to the country's economy, with the sector generating approximately $2.1 trillion in structural value annually. As of the first quarter of 2023, there were over 919,000 construction establishments operating in the country, with the EPC market projected to grow at a CAGR of 3.10% between 2025 and 2034. The market size is expected to reach nearly $328.20 billion by 2034, driven by substantial investments in oil, gas, and renewable energy initiatives, as well as rapid economic growth and technological advancements in the country.

Key Takeaways:

  • The United States EPC market reached approximately $241.85 billion in 2024, with a projected growth rate of 3.10% between 2025 and 2034.
  • The market size is expected to reach nearly $328.20 billion by 2034, driven by significant investments in energy sector, infrastructure development, and technological advancements.
  • The EPC market plays a vital role in the country's economy, generating approximately $2.1 trillion in structural value annually.
  • As of the first quarter of 2023, there were over 919,000 construction establishments operating in the country, contributing to the growth of the EPC market.
  • The construction sector is expected to continue growing, driven by rapid economic growth, technological advancements, and increasing demand for EPC services.
  • Key trends and developments in the EPC market include energy sector investments, infrastructure development, technological advancements, and the shift towards renewable energy sources and sustainable practices.
  • The power sector is estimated to grow at a CAGR of 3.5% during the forecast period of 2025-2034, driven by significant investments in renewable energy initiatives.
  • Leading companies in the EPC market include McDermott International Ltd., Fluor Corporation, Bechtel Corporation, and TEPDB OpCo LLC, among others.

Statistics:

  • The United States EPC market reached approximately $241.85 billion in 2024.
  • The market size is expected to reach nearly $328.20 billion by 2034.
  • The EPC market is projected to grow at a CAGR of 3.10% between 2025 and 2034.
  • There are over 919,000 construction establishments operating in the country as of the first quarter of 2023.
  • The EPC market generates approximately $2.1 trillion in structural value annually.
  • The power sector is estimated to grow at a CAGR of 3.5% during the forecast period of 2025-2034.

Sources:

  • "United States EPC (Engineering, Procurement, and Construction) Market Growth Analysis - Forecast Trends and Outlook (2025-2034)" report, ResearchAndMarkets.com
  • Data from the United States Census Bureau, as of the first quarter of 2023
  • Economic data from the Bureau of Economic Analysis (BEA) and the Federal Reserve